This TrueNorthBit review is for the struggling traders who know forex trading has been growing exponentially during last year. From more than $17 million in January 2017 it reached over $600 million in a few months and went even higher by the time we reached 2018. It’s hard to predict if this trend will continue or not but one thing is certain: the crypto market has become an attractive investment option for many people from all around the world.
One of the best ways to enter the market is through an online trading service that facilitates trading between different tradable assets including cryptocurrencies like Bitcoin, Ethereum and other altcoins using fiat currencies (USD, EUR, GBP etc.). At the moment we have more than 100 online forex trading platforms available. Most of them are very similar in terms of provided services and supported coins but there are still some differences. As you see many of them are located outside U.S., Europe or China which makes it difficult or impossible for some people to use them due to sanctions legislation.
Some of these trading forums also provide margin trading services that let you trade more than your funds available. They are called ‘leverage trading’ where you can trade with more money than you actually have. It’s also possible to lend your funds out until they are needed again which is yet another way of earning additional income on an open position. However, there are some risks involved but that’s not the point. The main thing you should be concerned about is finding a trustworthy forex trading platform that will serve you well for years to come.
Websites like TrueNorthBit can provide you with full support if you want to pursue your carrier as a trader and are passionate about it. You can use this beneficial review to discover all the pros and cons of TrueNorthBit – a trustworthy platform for trading in 2021. I have been trading with this platform for quite a long time now.
So my question is: “What are the qualities that I should be looking for when choosing an online trading platform for my use?”. Since trading is not in its initial stage and many traders are joining online firms, it’s likely that we will see many new firms appearing soon. In this case, choosing the best one would be even more challenging for you since I’m sure that some of them have very attractive offers and services but not all can be trusted easily. To help a young lot of traders out there, I will share my list of criteria as we go on in the review and we will be seeing how TrueNorthBit meets it.
Profitability margin – Profit from your trades depends on a lot of factors like your deposit size, trading leverage and market volatility. It would be great if a firm provides charts where you can see how much money you are expected to make (or lose) with different types of scenarios. Here at TrueNorthBit, there is a reasonable profitability margin because traders are fully equipped. With this large margin, I have enjoyed forex trading with TrueNorthBit.
Security – You must be aware of the fact that your funds can be lost in case the website or the system gets hacked. This is why it is very important for you to make sure that security is handled professionally. I would recommend you go for forums that have top-notch security measures and a good reputation because this will increase your chances of losing your funds significantly.
I like how this company has secured its platform with encryption to keep it safe from hackers. I knew it from the beginning because I read many TrueNorthBit reviews.
Trading volume – Even if a platform might be a good option but if there aren’t enough traders to use it then you will miss out on a lot of trades. You must go for a platform where there is high trading volume so you can be sure of finding your trade match more quickly. So to make sure that I am always able to trade, I prefer using forex trading platforms that handle a large amount of trading volume every day. TrueNorthBit has a very decent amount of daily trading volume which is what you should look for.
Fiat deposits and withdrawals – If a company or broker allows traders to buy and sell cryptos using fiat currencies then it would be a good option for you. Some people might not think it is necessary but I can tell you that most of the time fiat deposits and withdrawals are done very fast. So if a platform has this option then it will be a good plus point.
This is because people don’t need to wait for days or weeks to get their fiat money back in case they need it. I like this about TrueNorthBit, they have all the necessary fiat currency support.
Customer Support – Since you will be seeking help from customer support when making deposits or withdrawals it is essential that their responses are as fast and helpful as possible. This is why it would be a good idea to visit companies that have had great experiences with their customer support.
I’m glad that TrueNorthBit is a forex trading platform that is backed by a good customer. I have been using this forum for a very long time now and have never had to call them over and over again for the same issue. That would mean that they are doing a good job at providing support.
Customer Education – I’m a big fan of keeping myself updated in the crypto space. But it is also important that you are rated with the basics about cryptocurrency before you start trading. That way you will be able to make better decisions when the time comes.
This is why I prefer visiting websites that offer education for beginners and experienced traders. I’m glad to say that TrueNorthBit does have a section where you can check out some interesting ebooks about trading and cryptocurrencies.
Account verification – Some platforms like to verify your account manually before allowing you to trade which is kind of annoying for many traders. So if you are looking for a forex firm that lets you trade immediately after signing up then TrueNorthBit might be a good option for you. They do not make you wait for days or weeks to start trading, they simply ask for your details and then let you get started.
Bonus – It’s always nice to have a little extra cash on the side, maybe to start trading with or just to save for an emergency. This is why it would be a good idea to go for companies that offer some type of bonus. I’m very glad to say that TrueNorthBit, unlike many fellow forex trading forums, has a very lucrative bonus package that will help you turn a small deposit into something much bigger.
User Interface – This is important because the best trading experience will be that of those with a user-friendly platform. You can check the layout and how easy it is to navigate through by visiting their website. This will also allow you to decide if the platform has all the features that you need or not. You can easily check out TrueNorthBit’s user-friendly design by visiting their website directly.
Although TrueNorthBit has offered me a highly satisfactory trading environment all this time, there have been some flaws that you should know about:
No advanced order types – If you like to keep things super simple when trading then TrueNorthBit might not be the best choice for you. They do not offer much when it comes to advanced order types. This is why I recommend that you read up on their FAQs as well as their educational resources to learn more about the platform. This might help you decide whether or not TrueNorthBit is a good option for you.
No Blog Section – Some websites offer a blog section where they can inform new users about the latest happenings in the cryptocurrency world. I’m sorry to say that as far as I know, TrueNorthBit doesn’t have a blog section. This is something that would be very helpful for new users and experienced traders alike.
No Mobile App – This is not a bad thing but I do have to mention it just in case you were planning on using TrueNorthBit from your smartphone or tablet. However, TrueNorthBit is fully responsive and can be viewed on any device via the website that has superior graphics and a very user-friendly layout.
If you are looking for an easy to use a forum that offers great customer support, then you can consider using TrueNorthBit. They also offer a good bonus system and have a user-friendly design. The only thing I really don’t like about TrueNorthBit is their lack of a blog section.
If you like to keep up with what is happening in the crypto world then this can be a big problem. The other issue I have with TrueNorthBit is that they do not offer any advanced order types. This review must have made you understand that it has been a very good experience for me and I hope you can benefit from it the way I did in the future.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.
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