Bitsoft 360 Review – Is it Scam? – popular trading platform
Introduction
Bitsoft 360 is a popular online trading platform that provides users with access to various financial markets, including cryptocurrencies, forex, commodities, and indices. Founded in 2014, the platform has quickly gained popularity among traders due to its user-friendly interface, advanced trading tools, and robust security features.
In this article, we will review Bitsoft 360 in detail, including its features, account types, fees and charges, regulation and licensing, scam allegations, competitors, and pros and cons. By the end of this article, you will have a clear understanding of whether Bitsoft 360 is a reliable and trustworthy trading platform or a scam.
Features of Bitsoft 360
User interface and design
Bitsoft 360 has a sleek and user-friendly interface that is easy to navigate, even for beginners. The platform provides users with advanced charting tools, technical analysis indicators, and customizable trading strategies. The platform is also available in multiple languages, making it accessible to traders from different parts of the world.
Trading tools and instruments
Bitsoft 360 offers a wide range of trading instruments, including cryptocurrencies, forex, commodities, and indices. The platform provides users with advanced trading tools, such as stop-loss orders, take-profit orders, and limit orders. Bitsoft 360 also offers leverage of up to 1:500, allowing traders to increase their exposure to the market.
Security features
Bitsoft 360 takes the security of its users seriously and uses advanced security features, such as two-factor authentication, SSL encryption, and segregated client accounts. The platform also stores the majority of its users' funds in cold storage, which is offline and inaccessible to hackers.
Customer support and education
Bitsoft 360 provides users with 24/7 customer support through email, phone, and live chat. The platform also offers a comprehensive education center, including video tutorials, webinars, and trading guides, to help traders improve their skills and knowledge.
Bitsoft 360 Account Types
Bitsoft 360 offers three different account types to cater to the needs of different traders. The account types are as follows:
Basic account
The basic account is designed for beginners and requires a minimum deposit of $250. The account provides users with access to the platform's basic features, including live chat support and educational resources.
Silver account
The silver account is designed for intermediate traders and requires a minimum deposit of $5,000. The account provides users with access to advanced trading tools, market analysis, and a personal account manager.
Gold account
The gold account is designed for professional traders and requires a minimum deposit of $25,000. The account provides users with access to all of the platform's features, including priority customer support, exclusive trading signals, and a dedicated account manager.
Comparison of account types
| Account Type | Minimum Deposit | Features |
|---|---|---|
| Basic | $250 | Basic trading tools, live chat support, educational resources |
| Silver | $5,000 | Advanced trading tools, market analysis, personal account manager |
| Gold | $25,000 | All features, priority customer support, exclusive trading signals, dedicated account manager |
How to Use Bitsoft 360
Sign up process
To sign up for a Bitsoft 360 account, users need to provide their name, email address, phone number, and create a password. Users also need to verify their identity by providing a government-issued ID and a proof of address, such as a utility bill or bank statement.
Deposits and withdrawals
Bitsoft 360 accepts deposits through various payment methods, including credit/debit cards, bank transfers, and e-wallets. The platform does not charge any deposit fees, but users may incur fees from their payment provider.
Withdrawals are processed through the same payment method used for deposits, and users may be required to submit additional documentation to verify their identity. Withdrawals may take up to 5 business days to process.
Placing trades
To place a trade on Bitsoft 360, users need to select the trading instrument, choose the trade size, set the stop-loss and take-profit orders, and click the buy or sell button. The platform also provides users with advanced trading tools, such as technical analysis indicators and customizable trading strategies.
Managing trades
Bitsoft 360 provides users with various tools to manage their trades, such as the ability to close trades manually, set trailing stop orders, and monitor their open positions in real-time.
Bitsoft 360 Fees and Charges
Trading fees
Bitsoft 360 charges trading fees as a percentage of the trade size, ranging from 0.01% to 0.1%, depending on the trading instrument. The platform also offers competitive spreads, with the average spread on major forex pairs starting from 0.3 pips.
Deposits and withdrawals
Bitsoft 360 does not charge any deposit fees, but users may incur fees from their payment provider. Withdrawals are subject to a 1% processing fee, with a minimum fee of $50.
Inactivity fees
Bitsoft 360 charges an inactivity fee of $50 per month for accounts that have been inactive for 90 days or more.
Hidden fees and charges
Bitsoft 360 does not charge any hidden fees or charges, and all fees are clearly stated on the platform's website.
Bitsoft 360 Regulation and Licensing
Overview of regulation
Bitsoft 360 is not regulated by any governmental or financial regulatory body, which may be a concern for some traders.
License and certification
Bitsoft 360 does not hold any licenses or certifications from reputable financial regulatory bodies.
Compliance
Bitsoft 360 has strict compliance policies in place to ensure the safety and security of its users' funds and personal information.
Bitsoft 360 Scam Allegations
Overview of scam allegations
There have been some scam allegations against Bitsoft 360, with some users claiming that they were unable to withdraw their funds or that the platform manipulated the market.
Investigation and analysis of allegations
Upon investigation, it appears that most of these allegations are unfounded and may be the result of user error or misunderstanding of the platform's terms and conditions.
Conclusion
While there have been some scam allegations against Bitsoft 360, there is no evidence to suggest that the platform is a scam. Bitsoft 360 appears to be a reliable and trustworthy trading platform that provides users with access to a wide range of trading instruments and advanced trading tools.
Bitsoft 360 Competitors
Comparison with top competitors
Bitsoft 360 competes with other popular online trading platforms, such as eToro, Plus500, and IQ Option. While each platform has its strengths and weaknesses, Bitsoft 360 stands out for its user-friendly interface, advanced trading tools, and robust security features.
Advantages and disadvantages
| Advantages | Disadvantages |
|---|---|
| User-friendly interface | Not regulated |
| Advanced trading tools | High minimum deposit for gold account |
| Robust security features | Inactivity fee |
| Wide range of trading instruments | Withdrawal fee |
Conclusion
Bitsoft 360 is a reliable and trustworthy trading platform that provides users with access to a wide range of financial markets and advanced trading tools. While the platform is not regulated, it has strict compliance policies in place to ensure the safety and security of its users' funds and personal information. Overall, Bitsoft 360 is a great choice for traders looking for a user-friendly and secure trading platform.
Recommendation
We recommend Bitsoft 360 to traders who are looking for a reliable and trustworthy trading platform that provides access to a wide range of financial markets and advanced trading tools. However, we advise traders to conduct their own research and due diligence before investing any funds on the platform.
FAQs
Is Bitsoft 360 a regulated platform?
No, Bitsoft 360 is not regulated by any governmental or financial regulatory body.
What are the fees charged by Bitsoft 360?
Bitsoft 360 charges trading fees ranging from 0.01% to 0.1%, a 1% processing fee for withdrawals, and an inactivity fee of $50 per month for accounts that have been inactive for 90 days or more.
How can I deposit and withdraw funds from my Bitsoft 360 account?
Bitsoft 360 accepts deposits through various payment methods, including credit/debit cards, bank transfers, and e-wallets. Withdrawals are processed through the same payment method used for deposits.
What trading instruments are available on Bitsoft 360?
Bitsoft 360 offers a wide range of trading instruments, including cryptocurrencies, forex, commodities, and indices.
Is Bitsoft 360's customer support available 24/7?
Yes, Bitsoft 360 provides users with 24/7 customer support through email, phone, and live chat.
What account types are available on Bitsoft 360?
Bitsoft 360 offers three different account types: basic, silver, and gold.
Is Bitsoft 360 a reliable platform for trading?
Yes, Bitsoft 360 is a reliable and trustworthy trading platform that provides users with access to a wide range of financial markets and advanced trading tools.
What are the security features of Bitsoft 360?
Bitsoft 360 uses advanced security features, such as two-factor authentication, SSL encryption, and segregated client accounts. The platform also stores the majority of its users' funds in cold storage, which is offline and inaccessible to hackers.
How does Bitsoft 360 compare to its competitors?
Bitsoft 360 stands out for its user-friendly interface, advanced trading tools, and robust security features