Bit-thread has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I requested my data from Bit-thread under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Instant funding|Dividend tracking|Multi-device support|Economic calendar
Cons: Alert system is basic|Live chat only during business hours
The mobile app from Bit-thread is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: API access|Two-factor authentication
Cons: Help articles are sometimes vague|Inactivity fee applies after 12 months
Where do I even begin with Bit-thread? since early this year of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Portfolio tracking tools|Demo account available
Cons: Mobile app could be improved
I gave Bit-thread a fair chance. After for a few weeks now of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Market news feed|Risk management tools|Easy to use platform|Comprehensive tools
Cons: Live chat only during business hours
I wanted to transfer my portfolio from another broker to Bit-thread. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Excellent charting|Dividend tracking|Fast deposits
Cons: Limited ETF selection