General Information & Regulation
BitForex is a cryptocurrency exchanges dedicated to providing investors with trading services in the cryptocurrency market. Founded in 2018, BitForex is headquartered in Singapore and set offices in Hong Kong, Estonia, the Philippines, Malaysia, and other locations. It is worth noting that BitForex is not currently regulated in any way.
Market Instruments
BitForex offers investors access to the popular cryptocurrencies currently available in the cryptocurrency market, mainly Bitcoin, Ether, Thaumaturgic, Litecoin, etc.
Commission fees
BitForex charges a fee of 0.10% per trade for orders executed on the platform.
Trading Platform
BitForex offers traders the most advanced MT5 trading platform available. For traders and investors, the trading platform provided by the exchange is a very important part of the trading activity. The trading platform is the software algorithm that controls and oversees the entire trading activity. Trading platforms offered by most cryptocurrency exchanges are very similar when it comes to trading views, including buying and selling boxes, historical orders, various price charts, etc. However, the user interface provided by the exchange is different. BitForex offers investors a simple and intuitive trading interface.
Deposit & Withdrawal
BitForex supports traders to deposit and withdraw funds to and from their investment accounts through a number of different methods, such as credit/debit cards, wire transfers, and cryptocurrency transfers. Additionally, BitForex charges a fee of 0.0005 BTC for each bitcoin withdrawn by its clients.
BitForex Pros & Cons
Bitforex Advantages Include:
1. MT5 trading platform
2. Multiple deposits & withdrawal methods
Bitforex Disadvantages Include:
1. No regulation
2. No account & leverage information provided
3. High transaction fees & withdrawal costs