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Broker features I like, and dislike include customer service hours, account minimums.
I Started using BigBitMartket last year. I was looking for a new broker as the one I had been using at the time was just awful. The spreads were huge, and they wouldn’t answer my emails. It took me over a month to even get a response from them which was far below industry standard, in my opinion.
So, after some research, I picked BigBitMarket because it had the best conditions, I could find for trading Bitcoin. Now I will write a complete review on it.
They are very beginner-friendly, which is important to me because I am not a market pro. The spreads are nice, they have good customer service hours (that they answer your questions), and the minimum deposit is low (250 USD); however, you can use their flexibility with what you can trade and how much money you need to start trading. For example, if you want to buy any of the major coins under a dollar, they will let you do it even if your account balance is zero dollars which is very unusual, in my opinion.
Their spreads are also some of the smallest I have ever seen for BTCUSD, and they are very close to the current market always spread, which is not something you see in most brokers. They also have some of the best tools that I have seen.
They also allow for stop-loss orders which is almost unheard of in my experience with other brokers. A HUGE plus, in my opinion, if you want to be an active trader.
They have a lot of currency pairs which is nice to diversify your portfolio. This review will explain everything about BigBitMarket.
Features in the Trading Platform I Like
I like the charting tools. I don’t know if it is because of where you place them on your screen, but they seem intuitive to me… The fact that they have order books for uncorrelated assets (although most brokers do). Their customer service hours are normal (but you can always email them outside those hrs. and get a reply). The minimum deposit is lower than most.
Their web-based platform has a great look, looks very modern and professional to me.
Features in the Trading Platform I Dislike
In this review they have no derivatives (futures or whatever), which is unimportant to me, but it might be for somebody else. They only deal in BTCUSD right now, which is very limiting.
Their web-based platform has a terrible look; it looks unprofessional and dated to me. They need to do something about that asap. I love trading with them. I have no idea if other people have the same experience, but I’ve been very happy.
Customer Service
Customer service is top-notch in my experience. A+
My experience was great. I didn’t have any problems, so I don’t know how they handled those. I contacted BigBitMarket’s customer service line about an issue in the app that caused a negative balance in my account.
I spoke with customer service, and after I explained what happened, he fixed it in no time and was very courteous and helpful during the whole process, which went smoothly for me. I have never experienced anything like this before. I was so impressed with how easy it made my day.
Account minimums the account minimum is 250 USD to open an account which seems standard in the industry. You need to trade at least once every six months, or they will close your account.
I don’t have any experience with their API, and I wish I did as I think that would be very valuable to me which is why I can’t explain that feature in this review.
Account Opening Process
You can do it online in about 5 min, and you don’t even need to send them documents unless you want to deposit more than 100k USD or something like that. You must upload your ID where they take a picture of it, but the verification takes 5 min and the waiting time for the account to be approved in less than 60 minutes.
They don’t have a minimum deposit which was huge for me as I had no cash in my bank account at all. I deposited 5 USD via wire transfer from another broker. After that, I bought 1 BTC with that money. after bitcoin went up a lot, I managed to sell it and get a nice profit of a few hundred USD. That was the only money I had at that point in my life, but I am still trading with them today successfully.
The customer service is great, and I like how they handle my questions and also respond to my complaints. One time I wanted to withdraw some money from my account, and the website wasn’t working properly, so I emailed customer service about that, and they answered me very quickly. I told them to stop sending those stupid emails with useless information as those are annoying, but other than that, everything was perfect.
Customer Service Response Time
10/10! I have never experienced anything like this before, and I was so impressed with how easy it made my day.
Yes, the email response time is pretty much immediate.
I have never had anything to complain about when it comes to customer service. They are always available and helpful to me whenever I have a question or need help with something. I have never had any problems with them, so I can’t really comment on how they handle issues.
Chart and Tools
9/10.
The charting is simple but very fast and easy to use, no problems there. They have a lot of drawing tools which are cool. I can’t give them a 10, though, because I’m used to the really good charts that other companies offer, but it’s enough for me because they are not trading voluminous amounts of money.
There is a lot of different indicators, but the timeframe selection seems to be limited. The tools are very useful, especially for beginners. Yes, they have everything that I need.
The Platform’s Interface
5/10. I was not satisfied with it at all, it just didn’t look good to me, and I’m used to trading with very advanced interfaces that help me make even more money.
They have a well-organized platform; it’s simple but effective. I like how fast you can see your positions and balances when trading. It doesn’t hold any secrets for me; anyone who is familiar with trading will be able to use this platform easily! If you don’t have a very good computer at least, you need to have a broadband connection, so it’s not too slow.
9/10. It’s a great platform, very easy and fun to use. With some improvements, they could get a ten from me for sure! I love the interface as well as the tools that it provides for helping with your analysis.
If you have a good computer and internet connection, it’s perfect. The chart is very well designed, so when you place your trades, it looks amazing. The interface is not very customizable, but I never had any problems with it.
There are a lot of useful features, especially for trading big amounts. They have a quick execution mode which is awesome, and it executes my trades fast.
Trading Tools
10/10. I don’t think there is anything else you could ask for, and they have a lot of tools for trading; well organized and useful to me as a beginner.
There are lots of useful analytical tools that help me understand the market, which is good since I am a beginner.
The chart is very well made; it looks so good with the different indicators and drawing tools. I love using this platform because it’s accurate, fast, and easy to use, which are all important things for me.
They have an acceptable amount of trading tools there. It comes with some basic ones that will work fine for you while you are learning how to use them.
Trading Education
8/10. The articles they provide on their website are very helpful and easy to understand, not too complicated but still useful. They answer any kind of questions that you might have, which is awesome, but I am sure that no matter what article anyone will read, it’s just a matter of time before they ask again.
I have not checked their website, so for me is hard to give them a fair score here. It’s probably very good, though! They have lots of useful information on their site, which are extremely helpful, but I can’t really tell you more about it because I didn’t check it out thoroughly.
There are a lot of useful things on their website, especially for beginners. They also have webinars which I think is cool. Yes, they provide the right amount of education once you sign up.
Overall Experience
9.5/10. I would trade with these guys because their spreads are very low compared to other brokers, but I love the way they offer everything, one-stop shopping, so to speak. They have a great online platform, great tools, and it’s easy to use.
I was thrilled when I started trading and still am. I would continue using this Interactive Broker because the spreads and fees are very low, and their web platform is well designed.
I think it’s a great broker for newbies who want to learn how to trade. Their fees are decent too, so you will gain money when using them.
The service is great. I don’t have any problems with it and will continue using IB because of their low commissions. The spreads might be a little bit higher than some other brokers, but there are lots of advantages too. I will just say that the overall experience is pleasant.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.