Trade By Trade Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker in this Trade By Trade Review.
Trade By Trade Review
Trade By Trade is a crypto-exchange that offers only coin-to-coin spot trading, as well as margin trading. Nonetheless, its users are able to trade in around 60 digital assets, which is a rather rich cryptocurrency portfolio. In fact, it seems that Trade By Trade specializes in small market cap coins, which are traded against Bitcoin.
As most similar venues, Trade By Trade also uses two-factor authentication that makes user accounts safer. ID verification of users is not necessary at this exchange, however those who have submitted the documents required for verification have higher daily withdrawal limits.
Allegedly, the majority of funds traded at this exchange are kept in cold storage.
Trade By Trade Advantages
Competitive trading fees
Trade By Trade charges a flat fee of 0.2% per trade, regardless whether you are a market “taker” or “maker”. Such fees are in line with the industry’s average, however, many exchanges charge only market takers – users who place orders at the market price that get filled immediately.
Margin trading available
This exchange offers margin trading, i.e. you can borrow funds from Trade by Trade in order to leverage your investment. Although this is a nice option (charged with a daily fee of 0.5%), keep in mind that margin can multiply both your gains and your losses.
If you need some leverage, you may also check out crypto margin trading offers of forex brokers.
You can find more detailed information on the differences between trading coins with a forex broker and a crypto exchange.
Many alternative coins offered
Apart from Bitcoin, Litecoin, and Dash one can trade in a large number of altcoins at the Trade By Trade exchange, such as TCoin (TCN). Oddly, it seems that Ethereum is not available for trade on this exchange.
Relatively nice platform
The web platform provided by Trade By Trade leaves a good overall impression. It has a nice design, features an order book, trading history, trading ideas, as well as a Pro analysis option with advanced charting by TradingView. Besides, there are many order types, such as Multiple Buy / Sell orders and Conditional buy.
Trade By Trade Disadvantages
No fiat currencies, not suitable for beginners
Trade By Trade does not work with traditional money. So, clients of this exchange cannot use their bank accounts or credit cards in order to start trading. They need to have Bitcoin or other coins supported by Trade By Trade. That is why we reckon that this crypto platform is not not beginner-friendly.
High withdrawal fees
Cryptocyrrency deposits at Trade By Trade are free, however users have to pay pretty salty withdrawal fees, amounting to 0.001 of any cryptocurrency.
Unknown company background
Trade By Trade website only mentions that the exchange is operated by Trade By Trade Ltd., a Vanuatu IBC with headquarters in Belize. Both Vanuatu and Belize are offshore zones and companies registered there generally do not inspire a lot of trust.
Low trading volumes on many instruments
It seems that trading volumes on many pairs at Trade By Trade are rather poor.
Trade By Trade is a relatively small coin-to-coin exchange (in terms of trading volume). It supports a total of 60 cryptocurrencies and also offers a margin trading option, but does not accept fiat currencies.
Another thing we like about this exchange is that it does not support some popular coins like Ethereum, and Ripple. More importantly, there is very little information on its website about the company behind the exchange and its team. While most crypto-exchanges worldwide operate without any license, almost all share with the public who are the people behind it.
We remind you that you can always find a trusted and licensed forex broker, with whom to trade in Bitcoin and other cryptocurrencies with margin.
Trade By Trade Review Conclusion
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