Table of Contents
I have been associated with a number of online brokerage firms in the past decade. It seems like the online trading industry is taking off quite well since there has been a flood of countless new platforms in the market ever since this year started. When you are provided with such a variety of platform selection options, you tend to get a little confused.
This is exactly why I am here as I thought my experience as a trader will help me evaluate the conditions of these platforms for you. My review will be unbiased so as to allow you to make a calculated decision based on the facts themselves. While I did have a first-hand experience with the platform, my critical assessments were based on my demands as a trader.
Business Plan
Now you must be wondering how this works out, considering every trader has a different business plan. So, you see, the fact of the matter is that these online brokerage firms are standardizing the market for trading. While you may perceive this to be making trading convenient for you to buy and sell while sitting in the comfort of your home, I think this is taking trading to another level.
Today, the global market is filled with neophytes and these novice traders are susceptible to a lot of tricksters. The market is not as jolly as it may seem, for there are certain implications that follow if you do not keep track of the risk factors. Now, this is where brokerage firms come in as their sole objective is to not only mediate the buy and sell for your business but also regulate your trading sessions.
Coming to the most important part, and that is finding a reliable trading platform. It is always better to run a survey before opting for one platform. And this is where my review might be of help to you. Bitteks is a platform I have been a part of for over four years now, and I have definitely come a long way with this CFD broker.
Quality of Administration
Because dependability is an essential parameter that the trading platform should be able to live up to, I believe it is directly linked with the administration. The way a brokerage firm operates says a lot about its infrastructure, which includes the legal framework and the financial instruments. Bitteks has a web-based platform that provides a solid network of brokers to manage the services. The highlighted effects of all service options make it easier for clients to find their way. You can always seek support from the integrated Contact Us option, however, you will be required to drop in a form.
While that is just as effective, the response is not immediate and this is why I would have preferred had they stuck to the integrated live chat option as that ensures you get an immediate response. You can, however, access the live chat option from the Support section.
Customer Care Response
All successful brokers depend on efficient client care to cater to their customers. You can have the best quality tools and services lined up for trading sessions on your platform, but if you are not able to effectively communicate with your clients, then it is of no use. Bitteks offers support to its clients through three means which include the phone line option, the live chat option, and the option of leaving a message via email. Now it is solely up to you whichever method you choose to opt for.
I always preferred to use the live chat option, as I preferred to get a quick response to my query. The email response is just as effective, yet it does take some time to process while the live chat is active Monday to Friday 04:00 to 13:00 GMT. There are times when you might witness a delay in the operator response, but that is mostly due to the immense amount of traffic during market peak hours. I did notice that the phone call option was not available in my region, which is why I could not make use of that service. You can avail of the phone support option only if you are from Australia or the United Kingdom.
Bitteks monitors the correspondence channels for all its customers and seeks feedback at the end of each session. In this way, it is able to amend flaws in its system in due time. Ever since I have been a part of this platform, I have had a satisfactory experience with its customer ar service.
Trading Platform Execution
Coming to the main part of the platform, the section through which you will be able to map out your trading ventures. Bitteks lays out all of its tools within its layout itself. This makes it easier for traders to navigate their way through the platform. I believe the server design directly affects the way the platform execution plays out. Bitteks has fast order execution and ultra-tight spreads that give you an added advantage in the market.
If you are a beginner, you will be able to improve your trading vocation using these resources provided by the platform. Each tool is marketed to cater to the trader’s needs, which makes it easier for you to select from the range of options. The analytical tools will enable you to assess the stakes of your favored stocks, thereby making your decisions easier.
My first impression of the platform was not that great, as I did not find the color scheme that captivating. Bitteks has a dark backdrop with its graphical designs covering the interface. I like that they input a stock report bar that scrolls through the main page as this will give customers a glimpse of the premium stocks such as Amazon, Tesla, Facebook, etc., that are associated with the platform. You have the option to access over 200 tradable assets with the option of alternatives such as Indices, Commodities, Crypto, Forex, and Stocks.
Environment for Trading
While you do not want to have to deal with a dull environment for trading analysis, the chart is also positioned against a dark backdrop. It seems like Bitteks has really stuck to that monochrome theme. While it may work for some people, I wasn’t particularly a big fan. This is why I hope they introduce the option to change the color scheme in their range of custom setting options.
Coming to the custom features that the chart offers, you can choose everything from the type to the intervals. You have a range of 9 chart intervals to choose from, and this will help you keep track of the current and future market patterns. These are essential factors that go into play when you make trade reports.
These trade reports will help you align the price movements of your underlying assets in CFDs. Bitteks engages its customers with accessible tools that make their trading experience more efficient. If you are a veteran trader like me, you will value the presence of these tools more. So as you know they can help you step your game in the competitive trading world.
Security Regulations
Bitteks is a highly regulated platform with a strong legal framework that safeguards the interests of clients and brokers alike. I have been trading with them for a while now, which is why I have gained a certain comfort level through which I find myself at ease with this platform. One of the reasons has got to be the availability of legal documentation on the platform itself.
When you scroll down the Bitteks webpage, you will find the Disclaimer along with the necessary documentation that attests to its security. I found this transparency very refreshing, as most of the time platforms prefer to keep their administrative approaches private. Bitteks is very open to criticism and takes feedback well. I have seen the platform grow since I started with it. And the decent trading environment that it has managed to provide me with is why I have stuck around.
An Assortment of Payment Methods
Bitteks ensures that all well-known payment options are offered to its clients. This convenience allows clients to withdraw and deposit funds in their accounts with ease. The platform offers three means of transactions:
1) Credit and Debit Cards
2) Bank Wire Transfers
3) Bitcoin Transfer
Now these options in themselves can be enough for most traders but traders. Those who use the e-commerce methods of payments such as PayPal, iDEAL, etc., might be at an inconvenience.
The withdrawal speeds are quite reasonable, however. If you wish to get a better experience you can always upgrade to a higher account.
Last Remarks
The minor blemishes in the Bitteks trading experience do less harm to the platform’s overall experience. I can set aside the fact that their education system has not been updated in a while. Since they offer knowledgeable webinars to their clients. I have been a satisfied customer of this platform. And if there are traders out there looking for a dependable platform. Then I would definitely recommend this one to them.
