BITmarkets

BITmarkets is an online trading platform primarily focused on cryptocurrency trading and derivatives. According to its website, the broker was founded in 2010, though registration records from Australia show a founding date of November 7, 2023. The company is registered in Australia but does not hold any regulatory licences from recognized financial authorities, as per our independent verification.

The platform offers a suite of trading services including spot crypto trading, perpetuals, and futures contracts with leverage. Its target audience appears to be retail traders interested in high-leverage crypto derivatives, as well as those seeking a multi-asset trading experience.

BITmarkets claims on its website to be fully licensed and compliant with global regulations, but it does not provide any specific licence numbers or regulatory body names. Our cross-checking of official registries found no active licences for BITmarkets under any major regulator. The absence of regulation is a significant factor for potential users to consider, as it means there is no oversight from a government-backed authority.

Traders should note that trading with an unregulated broker carries heightened risks, including limited recourse in case of disputes or platform failure. The broker's registration in Australia does not equate to regulatory oversight, as the company does not hold an Australian Financial Services Licence.

The broker's website indicates that it offers tiered VIP discounts on trading fees, though specific account tiers are not detailed. Traders can access the platform via a web interface and likely through a dedicated mobile app referred to as the 'BITmarkets App.' The platform supports both spot and leveraged trading instruments.

No information is provided on minimum deposit requirements for standard accounts, but fiat deposit minimums range from $10 to $1,000 depending on the payment method. The platform appears to be designed for both novice and experienced traders, with a focus on cryptocurrency trading.

BITmarkets offers spot trading on more than 200 cryptocurrencies, perpetuals on shares, indices, metals, commodities, and crypto, and futures contracts on crypto with up to 100x leverage. The broker claims that perpetuals allow traders to go long or short with leverage up to 1:50, providing flexibility for various market conditions.

Futures trading includes both perpetual and fixed-term contracts, with margin and settlement in multiple cryptocurrencies. The broker also provides fiat on-ramp services via partners like SWIFT, SEPA, Swipelux, and Transak, allowing deposits in USD, EUR, and other currencies.

The broker accepts fiat deposits through bank transfers (SWIFT, SEPA) and third-party services (Swipelux, Transak, P2P). Fees vary by method: SWIFT deposits under $999 incur a $25 fee, Swipelux charges 4.5% on fiat deposits, and Transak does not charge a fee but may include network costs. Crypto withdrawals have network fees, and trading fees follow a tiered discount structure based on VIP levels.

Withdrawal options are limited: fiat withdrawals appear only available via SWIFT subject to bank charges, while crypto withdrawals are supported. The broker does not disclose all fees upfront on its main pages, directing users to specific fee pages.

BITmarkets advertises 24/7 multilingual customer support via email at support@bitmarkets.com and a phone number with +248 country code (Seychelles). The website includes a contact form and a FAQ section covering account registration, verification, and trading questions.

The broker also lists separate contacts for compliance, affiliate partners, PR & marketing, and trading enquiries. The support team is described as dedicated and available around the clock to assist traders in multiple languages.