If you have ever looked for a trading platform that allows you to trade in different markets, then TurboXBT can end your search. This one is a short-term contract trading platform that lets you trade in crypto, commodities, indices, and forex.
The platform has been recently launched, and many traders are wondering whether using the platform would be a good idea.
If you are thinking the same, then I am here with my TurboXBT review. As we progress further into the topic, I would try answering all of the questions you probably have in your mind and help you get started with the platform.
So let’s jump into the topic right away:
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What Is TurboXBT: Introduction?
TurboXBT is a short-term contract trading platform. It offers you different assets. You, as a trader, choose an asset, enter your amount and choose a time frame for which the contract will run.
If you believe that the price will go up or lower once the contract runs out, you will receive about 90% profit depending on your prediction.
Currently, 1 minute, 5 minute, 10 minute, and 15-minute contract durations are available, depending on the pair selected. All you have to do is analyze them and predict their future.
TurboXBT Supported Products & Assets
With TurboXBT, you would get the opportunity to trade in more than 30 assets. It lets you trade in cryptocurrencies, forex pairs, and metal and crude oil assets.
When it comes to crypto, it only supports BTC/USD and ETH/USD pairs. Also, it offers you support for eight forex currencies, including USD, CAD, JPY, AUD, EUR, GBP, and CHF. Also, around 30 forex trading pairs.
For commodities, it allows you to trade in Gold, Silver, Crude oil, and Brent. Also, the available trading pairs are the XAG/USD, XAU/USD, Brent/USD, and Crude/USD.
Apart from this, TurboXBT also has the support of three indices – NASDAQ, GER30, and S&500. And the trading pairs are the NASDAQ/USD, GER30/USD, and SP500/USD.
However, one drawback of the platform is that it doesn’t offer any leverage on your trades. Hence, you will need to use your 100% amount for trading.
How TurboXBT’s Short Term Contracts Work?
TurboXBT is a short-term contracts trading platform. As a result, unlike the traditional markets, it doesn’t have a time frame that is spread across weekly, monthly, or quarterly. Instead, the contracts only run for 30 seconds, 5 minutes, and 10 minutes.
As a trader, you will only have to make money by short-term trading contracts. Your job is to predict the price movement of the contract.
Simply start by selecting an asset pair to trade. As mentioned earlier, it offers you a bunch of assets to choose from. So you can trade in forex, commodities, or crypto.
However, for example, you can start with BTC/USD currency pair. Next, you will have to pick a suitable time frame – 1 minute, 5 minutes, 10 minutes, and 15-minute contract durations.
Now to execute your trade, you will have to click on the green UP button if you believe that the price will go up. If you think that the price will drop, click on the red DOWN button.
If the market moves as per your prediction, you will win the trade and take your profit home. Else, you better forget about your trade.
Also, trading is a risky business. Luckily, TurboXBT has published several resources on their blog that highlight the common pitfalls you should avoid. So going through them would help you understand how you should go ahead with your trades.
Along with that, you should also practice common risk management strategies to avoid huge losses. You can definitely make some good returns by making the right decisions and having risk management in place.
Trading Fees
If you have ever traded in cryptocurrencies, you know that it attracts two types of fees – Market maker/taker fee and commission fee.
But compared to such platforms, TurboXBT is a unique trading platform that charges no fees. But it does make money somehow.
While it doesn’t charge any commission fees, you will still need to pay for the blockchain and network fee, which is extremely low. But this money doesn’t go to TurboXBT but goes to the crypto miners.
But how does TurboXBT makes money? Well, it charges a premium on your winning trades. As mentioned earlier that TurboXBT allows you to take 90% of the profit home. So what about the 10%?
Well, this 10% is what TurboXBT charges as a premium on your winning trades. Unlike other exchanges, there is no need to pay for every trade that you execute. Instead, you are only sharing the profit when you are winning a trade.
TurboXBT Trading Platform Features & Tools
Now that you know about TurboXBT, let’s talk about the features and tools you are getting. Some of the key features of this trading platform are:
- Low Minimum Account
One of the best features of this trading platform is that it has a low minimum deposit amount. You can make a deposit of as low as $1. Also, it doesn’t attract any deposit fee, unlike most platforms. So you can start with a low amount and try out the platform and see if you like it or not.
- Demo Account
Most trading services offer a demo account for their users to learn, and the same goes for TurboXBT. It offers you a simple to use demo account that is available right after you complete your sign-up process. You can go through the demo account and try your hands on the TurboXBT platform.
Also, on your demo account, you will receive an amount of up to $1,000 to trade Bitcoin, Forex pairs, or any asset of your choice.
Plus, the demo account can also be used for testing strategies that you have. So you can run multiple strategies to test and verify. So you won’t lose your money.
- Commission-Free Trading
As mentioned earlier, TurboXBT is a commission-free trading platform. You will only have to pay for the network fee and 10% premium on your winning trades. Apart from that, there are no deposit, withdrawals fees. Nor it has any processing fee. As it uses cryptocurrencies which helped the platform to cut out fees that credit card issuers charges.
- Quick Trading Interface
One of the best features of TurboXBT is that it offers you a highly responsive and quick trading interface. As it is a short-term contracts trading platform, there are no complicated tools or UI. Instead, you only have to click on the Up or Down button to predict the price movement. Along with that, you will also be able to exit from a trade instantly.
- Speed
Another cool feature of TurboXBT is that it is extremely fast. Since it is a short-term trading platform, so you can execute a trade within 10 minutes only. Also, according to TurboXBT, you can get your first profit in less than 3 minutes only.
- Flexible trade entry point
You can get into a trade at any time. There is no need to wait for hours and hours before you place a trade. Just log in to your account whenever you wish to trade, and with just a few clicks, you can get into the market.
- Privacy
TurboXBT respects your privacy, and there is absolutely no need to go through KYC protocols when you sign up. All you need to do is enter some of your basic details, and you are all set to take your first trade.
- Stability
Lastly, the platform is highly secure and reliable. It offers you 99.9% uptime which ensures that the website is always up and running. So you don’t have to miss out on your profits. Or have an awful experience as you trade.
TurboXBT Deposit Methods
TurboXBT uses cryptocurrencies for both deposits and withdrawals. You are allowed to make deposits in crypto coins like BTC, ETH, USDT, and USDC. Just send the deposit amount from your crypto wallet to TurboXBT’s address, and you are good to go.
However, it does accept fiat currencies NOW. Please note that TurboXBT NOW accepts fiat deposits. TurboXBT has added the ability to top up the balance with bank cards (USD/EUR/CNY/AUD/INR and other fiat currencies with a deposit fee of 1% – 3.5%).
To put crypto assets, you have to first purchase crypto from an exchange like Binance, Coinbase, Coinmama, or others. Then transfer the funds from your crypto exchange to TurboXBT to start trading. Similarly, when you wish to withdraw your funds, you need to send your amount from TurboXBT to your crypto exchange platform.
However, TurboXBT has some restrictions on withdrawals. As the platform only processes withdrawals between 12:00 and 14:00 UTC only. So it may take some time for you to get your money out.
How To Start Trading On TurboXBT Exchange?
I hope by now you have understood what TurboXBT is all about, and it must be tempting to take your first trade. So how do you do so? Well, here is a step by step guide for the same:
Step 1: At first, you have to create an account. So head over to the TurboXBT website and click on Open Account to complete your sign-up process.
Step 2: Once your account is created, TurboXBT will send a PIN to your email. So use the PIN to confirm your account.
Step 3: The next step is to deposit funds. Go to the deposit section and choose a currency to deposit. After that, copy the cryptocurrency address and send the deposit amount from your crypto exchange to it. Once done, the amount will reflect in your account in some time.
Step 4: To start trading, look at the chart and click on the UP or DOWN buttons to predict price movement.
TurboXBT Security Features
TurboXBT also has a bunch of security features to keep your funds secure. You can enjoy security features like:
- Offline cold storage.
- 2FA or Two-factor authentication.
- Multi-signature wallets.
- IP allowlisting
Also, the TurboXBT team manually reviews all the withdraw requires for extra security.
TurboXBT Customer Support
The customer support of the trading platform is average. While it offers, you support using channels like Telegram and Twitter. However, there is no dedicated contact page or email address.
Also, the website does have a FAQ section where you can get answers for the basic queries.
Is TurboXBT Exchange Safe & legit?
Yes, the trading platform is safe and a legit one.
But it is not regulated by any government body, which is the case with most crypto exchanges. But it has all the security measures in its place and offers a legitimate trading environment.
Supported Countries & AML Compliances
TurboXBT is available in more than 100 countries worldwide, and it is a platform by Turbo Ticks Technology Limited. The company is based in Seychelles.
However, it is not available in countries like the USA, Canada, Japan, Russian Federation, North Korea, American Samoa, Iran, Algeria, Syria, Sudan, Iran, and others.
Risks Associated With TurboXBT Platform Trading
By now, you hear the good about TurboXBT. But what about the bad?
While the platform lets you earn 90% profit on your initial investments in a short span of time. But when you trade in higher volume, it comes with higher risk.
If your trade doesn’t go as predicted, you will lose 100% of your initial investment. Hence, it is important that you only trade the money you can afford to lose.
TurboXBT Review Summary
Overall, TurboXBT is a great trading platform that offers you instant profits. Also, you don’t really need to be a pro trader to make money out of it. The platform promises a handsome amount of rewards, and it is extremely easy to use.
The platform is an ideal solution for not-so-frequent traders or absolute beginners. As there is no need to understand charts, set targets, keep yourself updated with the latest crypto news. Instead, just make your prediction and hope for the best.
However, it can be pretty dangerous too, if your trade doesn’t go as planned. But with proper risk management in place, you will surely get to make a good amount of money with TurboXBT.
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