Consider using GateBits broker for trading? Stay with us and read this review to find out if GateBits.com is the trading platform you will want to trade with.
About GateBits Broker
GateBits is an offshore brokerage company with a lot of offers for traders. This broker hides under the company called Gate Bits Ltd. It promises different accounting types such as Self managed, Basic, Gold, Platinum, Diamond and Libra.
The broker presents a zero spread difference in Buy/Sell.
In spite the many trading instruments GateBits promises to offer, traders must know they are dealing with an unknown broker whose regulation claims are false.
See section below:
Withdrawal and Deposit
GateBits Withdrawal process:
The broker is indicating 7 to 10 days working days with 1% with a minimum withdrawal fee of 30 USD/GBP/EUR on any withdrawal request.
Minimum Deposit:
GateBits minimum deposit is indicated $100. Even though this broker shows what amount to deposit, that doesn’t make it legit for traders. Any broker can likely do the same.
GateBits.com presents three payment methods such as credit card, bank wire and Bitcoin transfer. You should not consider making any payment with this broker in the first place because it is a risk. So beware!
GateBits Platform
GateBits offers web based trading platform which seems easy to use for beginners and not MT4 or MT5 (Industry standard trading platforms). However, the broker is already a red flag for traders.
More so, leverage can get up to 400. Well, steer clear from this broker as it is a way to make traders put good amount of money expecting to get big profit.
In spite the attractive offers GateBits broker claims to present, we can’t find a free account for traders to test the platform before considering a deposit.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
More Reasons You Should Avoid GateBits.com Broker
GateBits.com is a platform with no financial authority overseeing its financial services. Its regulation claims are not legit as none of these countries’ financial authorities recognize Gate Bits Ltd.
Another red flag we noticed in this broker is that there is no demo account for traders. If traders can’t test GateBits broker on a free account, how then can we know its viability in the forex market.
Regrettably, the broker is a clear scam whose presentation of different regulations cannot be proved. The worst of it all is the regulation claim. We know SVG financial authority is not known for regulating forex brokers. This is a big warning for traders to avoid losing money with this broker.
GateBits Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its licensed and regulation claims are false and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
Here, Gate Bits Ltd located at GateBits.com claims to be a trusted broker is not genuine. From indications, we would advise users to steer clear from this broker. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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