itBit Review 2020
itBit is America’s first regulated crypto asset exchange, and it offers powerful crypto asset trading services that are built for institutions and professional traders. The Exchange provides traders with a powerful trading platform for trading different crypto assets, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Stellar Lumens. Traders in the US and around the world get to enjoy deep liquidity, competitive fees, and robust API services.
itBit Review 2020, Pros & Cons
- A regulated exchange
- Accepts US clients
- A range of trading tools
- A selection of educational resources
- No MetaTrader trading platforms
- Limited variety of trading instruments
- No live chat support
In this detailed itBit 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.
itBit 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 itBit.
itBit Review: Summary
Launched in 2012 and headquartered in New York City, itBit is a cryptocurrency exchange that has strived to push the boundaries of sophistication in crypto asset trading, offering crypto traders with access to a global exchange, OTC trading desk, Custody Services, and Escrow services. They provide traders with a powerful trading platform and are committed to offering a premium trading experience, personalized customer support, and industry leading security.
itBit Review: Regulation
itBit is operated by Paxos, which is a New York State-chartered trust company regulated by the New York State Department of Financial Services (NYDFS).
itBit Review: Countries
itBit’s clients hail from over 100 countries worldwide where cryptocurrency trading with international exchanges does not contradict local laws or regulations.
Some itBit features and products mentioned within this itBit 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.
itBit Review: Trading Platforms
The Exchange provides traders with a powerful crypto trading platform for institutional and active traders to securely buy and sell crypto assets. The platform is user friendly and keeps things simple. The charting and analysis tools can be used by both experienced and beginner traders alike, whilst the order book is very clean and easy to understand.
itBit Review: Trading Tools
Clients also benefit from a range of useful trading tools, such as API, OTC Trading, Market Data, and more. These tools can help to ensure an enhanced trading experience.
itBit Review: Education
The Exchange provides its clients with a wide selection of educational materials to improve their trading skills and knowledge. They include trading blogs, tutorial videos, news, announcements, podcasts & webinars, press releases, and a lot more.
itBit Review: Trading Instruments
itBit offers a good range of different crypto assets, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Stellar Lumens, for online trading via their proprietary platform.
itBit Review: Trading Accounts & Fees
Both Individual and institutional clients are offered a live trading account by the Exchange for trading their preferred crypto assets. The Exchange allows customers to trade crypto assets on both the exchange and OTC desk through one live account.
As broker fees can vary and change, there may be additional fees that are not listed in this itBit review. It is imperative to ensure that you check and understand all of the latest information before you open an itBit broker account for online trading.
itBit Review: Customer Service
The Exchange’s customer service team can be contacted via telephone, email, and social media.
itBit Review: Deposit & Withdrawal
itBit supports the following deposit and withdrawal methods:
- Wire and Swift Transfer
- ACH (US deposits only)
- Silvergate Exchange Network (For Silvergate institutional customers only).
itBit Review: Account Opening
You have to click on the ’Open an Account’ tab if you want to create a trading account. Once the account opening page is displayed, fill in your details and click on submit.
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.
itBit Review: Conclusion
Launched in 2012 in New York City, itBit is a cryptocurrency exchange that provides traders with a powerful trading platform for trading multiple crypto assets, a premium trading experience, personalized customer support, and the best-in-class security. The Exchange is regulated by the New York State Department of Financial Services (NYDFS). However, they have limited trading instruments and do not offer the popular MetaTrader platforms.
Crypto asset trading involves a high degree of risk. The crypto asset market is new, and unproven and may not grow. Currently, there is a relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. You should be capable to evaluate the merits and risks of the investment and be able to bear the economic risk of losing your entire investment.