Bitpanda Review 2020
Launched in 2014, Bitpanda has grown to become one of Europe’s leading retail brokers for the online trading of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, XRP, DASH, Ethereum Classic, Stellar, Tether, and others. They provide traders with the proprietary Bitpanda trading platform, along with a range of useful trading tools.
Bitpanda Review 2020, Pros & Cons
- Proprietary trading platform
- A selection of educational materials
- Not regulated
- No MetaTrader platforms
- Cryptocurrency trading only
- No US clients
- No live chat support
In this detailed Bitpanda review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Bitpanda is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Bitpanda.
Bitpanda Review: Summary
Headquartered in Vienna, Austria, Bitpanda is a cryptocurrency exchange that allows its more than 1.2 million clients from around 41 countries to trade over 30 different cryptocurrencies via the intuitive Bitpanda trading platform. The Exchange provides clients with a range of useful trading tools and educational resources, as well as a dedicated customer support team.
Bitpanda Review: Regulation
Bitpanda is not regulated by any known financial authority. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our best trading brokers for alternative regulated brokers.
Bitpanda Review: Countries
Traders from different parts of the world can open a trading account with Bitpanda provided that doing so would not contradict any local law or regulation. They cannot accept traders from the USA.
Some Bitpanda features and products mentioned within this Bitpanda review may not be available to traders from certain countries because of legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Bitpanda Review: Trading Platforms
The Exchange provides clients with their user-friendly Bitpanda trading platform, which enables traders to seamlessly trade a wide range of cryptocurrencies. There is also the Bitpanda Pro that is designed for professionals and businesses, where they can trade and connect trading bots to APIs. Both the Bitpanda trading platform and the Bitpanda Pro use TradingView’s charting tools to visualize trading data.
The Bitpanda trading platform is available as web and desktop platforms, as well as a sophisticated mobile app that is compatible with smartphone devices running on Android and iOS. The mobile app offers the familiar fast, secure, and reliable features of the Bitpanda platform on your handy devices, thus, allowing you to access your trading account and place trades on the go.
Bitpanda Review: Trading Tools
Clients also benefit from some useful trading tools, including API and TradingView that help to enhance clients’ trading experience.
Bitpanda Review: Education
Bitpanda provides traders with a good selection of educational materials, which are geared towards improving their overall trading skills and knowledge. The ‘Learn’ section of the website has a decent trading academy with a selection of trading articles and lessons for all levels of traders. The website also contains News and Press Releases.
Bitpanda Review: Trading Instruments
Bitpanda offers multiple cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, XRP, DASH, Ethereum Classic, Stellar, Tether, and more, for online trading.
Bitpanda Review: Trading Accounts & Fees
The Exchange allows only one account per client, known as the Bitpanda Client Account. Persons interested in using Bitpanda Pro have to become Bitpanda clients first before they can create a Bitpanda Pro Exchange Account.
As broker fees can vary and change, there may be additional fees that are not listed in this Bitpanda review. It is imperative to ensure that you check and understand all of the latest information before you open a Bitpanda broker account for online trading.
Bitpanda Review: Customer Service
The Exchange offers a 24/7 customer support service through a support ticket system, wherein users fill out an online form that is sent to the support team via email.
Bitpanda Review: Deposit & Withdrawal
The Exchange accepts the following payment methods for account deposits and withdrawals:
- Bank transfer
- Credit/Debit cards, including Visa and MasterCard
- e-payments, such as Neteller and Skrill
Bitpanda Review: Account Opening
New traders can open a trading account by clicking on the ‘Start Trading’ button, and properly fill out the form. Once approved, the trader can start trading.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Bitpanda Review: Conclusion
Overall, Bitpanda is a cryptocurrency exchange that is based in Austria. The Exchange provides clients with the proprietary Bitpanda trading platform for trading over 30 different cryptocurrencies. They also provide clients with a range of useful trading tools and educational resources, as well as a dedicated customer support team. However, Bitpanda is unregulated which may be a red flag for some potential clients. You may wish to view our best crypto brokers for regulated alternatives.
The risk of loss in the exchange of crypto assets can be substantial, and therefore you should understand the possibility of losses associated with the exchange of crypto assets and must assume responsibility for all the risks associated with such exchanges and for their results.