Main-bit Review

Min. Deposit: $250
Max. Leverage: 1:300
Trading Platforms: WebTrader, MT4

Main Bit is a trading platform established in 2015 in the United Kingdom. It also has two more offices in Canada and Switzerland. The broker initially focused on crypto assets but now offers forex, stocks, indices, and commodities.

The trading platform has a user-friendly interface that provides you with all the information you need at first glance. It allows operations in seven different currencies and diverse cryptocurrencies, including BTC, ETH, BNB, SOL and XRP.

You can access a “test account” that provides you with a limit of $250. You will have access to the essential features of the platform. Then, you can decide to activate one of the other six subscription options available, each of which will increase the limits considerably and add more benefits.

Trading accounts available

Main Bit offers a wide range of trading accounts with various benefits. The accounts are mainly segregated based on the minimum deposits principally. Further, all of the accounts are for the different levels of traders. If you are a beginner, you will be looking for the one that requires less deposit. So the “test account” will be the best for you.

On the above levels, you will get additional benefits like negative balance protection, SSL certification, dedicated customer support, a trading plan and various order types. For instance, starting from the “gold” tier, newcomers will be eligible to receive a “welcome bonus.” Starting from the “platinum” tier, users will have access to negative balance protection and so on. Also, users with silver or superior account types will be able to receive personalized trading assistance and elaborated trading plans.

If you’re interested in a VIP account, you can directly contact the website to discuss the arrangement. The VIP account is the superior of all, providing exceptionally lower spreads starting from 0.03 pips and commissions starting from 1.5% profit. It also offers the maximum leverage of 10X besides dedicated support and negative balance protection.

There are the following accounts available with Main Bit.

  1. Test account with minimum deposit 250USDT
  2. Bronze account with minimum deposit 5000USDT
  3. Silver account with minimum deposit 10,000USDT
  4. Gold account with minimum deposit 25,000USDT
  5. Platinum account with minimum deposit 100,000USDT
  6. Diamond account minimum deposit  250,000USDT

Platforms

The broker offers an in-house web trading platform for their traders. Besides this state-of-the-art TradingView platform is there to aid the customers to open their positions wherever they are in the world.

On the downside, famous platform like MetaTrader 4 is missing. The mobile app and cTrader are also not there for traders

Main Bit Web Trading Platform

The Web Trading platform gives users access to a wide variety of drawing tools, which may be used in developing and executing trading strategies.

Your instant access to Main Bit’s Web Trading platform is always available to you. A connection to the internet is all that is required to get started. Before opening an account, you must provide basic information about yourself, including your name, email address, and phone number. After doing so, a window on your screen will allow you to see the current state of the currency market in real-time.

The TradingView API, which offers free charting services to websites and mobile apps with limited functionality, was used to import the charts used in the Main Bit Webtrader. You can trade cryptocurrencies, traditional currencies, stocks, indices, and commodities using a single setup when you use Main Bit Web Trader. For those just starting out, it is possible to see live price movement and to place orders, both of which are easily understood. Access to a very volatile market is made easier by the availability of all prominent cryptocurrencies, such as Bitcoin, Ethereum, and XRP.

When utilizing the Web Trader, a trader can open three types of positions, each of which may be seen by clicking on a click located at the bottom of the screen. They get access in a single place to all open positions, closed positions, and pending positions for the company.

Trading View

TradingView has more than 100 built-in market analysis indicators based on standard industry equations. The public library is home to more than 5,000 one-of-a-kind indicators that the exceptionally talented community developers housed. Users can develop their unique indicators from the ground up because to the fact that Pine is the programming language that they are written in. Calculations based on price or volume and displayed on a chart are referred to as indicators.

Certain indicators provide unmistakable buy and sell signals, while others have to be interpreted in accordance with a particular trading strategy. The majority of traders that use indicators do so in various methods, all of which complement one another. They look for a set of signals that are based on a mixture of these indicators. The Average True Range (ATR), the Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), the Ichimoku Cloud, and the Exponential Moving Average are all popular indicators (EMA).

Registration

The registration process is quick and simple.

We recommend you go through the Terms and Conditions and the Privacy Policy to prevent any potential problems in the future. The website has all the legal documentation public, which you can find in the “About” section under the “Legal Documents” tab.

Deposits & Withdrawals

The payment methods available at Main Bit include VISA, Mastercard, Wire, Bank Transfers and BTC. Some e-wallets are accepted, too. The minimum deposit is $250, but the minimum withdrawal is slightly lower – you’re only required to have at least $100 on your account.

Additionally, the currencies supported include USD, EUR, GBP, AUD, IDR, THB, VND and BTC.

Fees may apply depending on the preferred option and your bank. Additionally, please note that some fees may apply for deposits and withdrawals based on your bank. Deposits are processed instantly, while most withdrawals may take 24 hours to be processed and 3-5 business days for the funds to appear in your account.

If you’re making transactions via BTC, you will face no fees and will be able to get instant deposits.

Trading Resources

This website provides each user with diverse resources, tools and instruments you can use to trade with others at any time. Main Bit offers the following benefits to the public:

  • Orders are executed instantly.
  • The swap rates are quite competitive.
  • Spreads being at 0.03 pips.
  • Additionally, you will get maximum leverage of up to 1:10.

Besides these benefits, there are a few other resources you may want to get to know to make the most of your trading journey in Main Bit. These tools include Technical Analysis and Trading strategies.

Technical Analysis

This method allows you to predict the movements of certain assets, including commodities and cryptocurrency. All of it is based on market data, which you must have access to if you want to be as accurate as possible. It is applicable to day trading position trading, among many other categories.

Main Bit will provide you with all the tools you need for this purpose, including real-time charts.

Trading Strategies

Trading strategies are also available at Main Bit for those that prefer this approach. It is possible to find and share trading strategies, among many other options. The website offers clear explanations about how each feature works, but you can always contact a customer support representative if you have any doubts.

You will have access to information regarding support, resistance and trade volume at all times.

Economic Calendar & Calculator

These are separate tools that any person can access, regardless of whether they’re registered on the platform or not. The calculator section will grant you access to a pip calculator, a margin calculator, and a currency converter.

On the other hand, the economic calendar will showcase the latest changes in the market, including information organized by country.

Remember that many resources are hidden behind the account types. Hence, we recommend you analyze the accounts available and choose the option you think will benefit you the most based on your preferences and trading habits. It can be a bit overwhelming, but it’ll be worth it in the end.

Regulation and Safety

There have been many questions about the safety for the broker if it is secure or not. The broker was founded in 2015, which depicts the experience of 7 years in the market. In seven years there have not been any complaints about the broker’s conduct.

Secondly, the broker’s website has SSL certification and secured deposit and withdrawal methods. You need to pass various security verifications before proceeding with withdrawals. The broker complies with all AML/CFT policies and facilitate the customer in a personal capacity in case of any severe issue.

Most importantly, the broker has applied for the U.K license, which is expected to be available soon. This makes the broker more credible and reliable to deal with.

Customer Support

While you are new to trading, you may face many issues, from account opening to placing orders. No worries at all as the broker offers multi-lingual support 24/5. You can either mail the broker’s support for an issue and a ticker will be raised with a targeted resolution time monitored by strict staff. Besides this, the broker can be contacted on all three offices of the UK, Canada and Switzerland anytime with a mobile number available on a website.

Pros

  • Free deposits and withdrawals
  • Availability of TradingView with Web Trading platform
  • Instant order execution
  • Availability of wide range of drawing and strategy tools
  • Adequate education and learning material

Verdict

Main Bit is one of the modern-day brokers that has successfully met customer needs. They have a state-of-the-art Web Trading platform equipped with hundreds of drawing tools and built-in strategy-building instruments. The broker is not regulated yet; however, the process is underway, and there is a high probability that it will be regulated within a month or two. From beginner to pro-level traders, the broker offers accounts for every levels. The customer support is 24/5 yet the average responding time is less than 24-hours. Whether you are a beginner or advanced trader, you will get the best treatment with the Main Bit team and can learn a lot from their free educational resources.