Fair Bit reviews: In the review below, we take an in-depth look at the features Fair-bit.com allegedly offers. This review basically answer the questions: is Fair Bit legit? Is fairbit reliable or a Scam? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Fairbit broker.
Table of Contents
Fairbit Trading Platform
They is really not much to say apart from the fact this broker does not support the MT4 or MT5 trading platform.
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This broker claims that its endeavor is to make the use of cryptocurrency as liquid and effortless as traditional fiat currencies all while placing a great deal of emphasis on their regulatory responsibilities and aim to go beyond their clients’ expectations.
Fairbit Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has three account types
Fair bit Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Clients of the brokerage may deposit or withdraw via the standard Visa, MasterCard and bank wire.
One thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is Fair bit Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
This broker earlier on, claims to be a owned by a company registered in the Czech Republic. After going through the registry of the regulatory body, we find no mention of a license by the Czech authorities.
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. .
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact-checking this broker, we found that many of its claims were either or false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we certainly lead to loss of your funds.