SPEED BIT TRADER has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I closed a profitable position at SPEED BIT TRADER and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Automated trading options|Clear documentation|Risk management tools|Regular platform improvements
Cons: Desktop app not available on Linux|Would like more payment methods
SPEED BIT TRADER changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Intuitive for beginners|Responsive team
Cons: No crypto staking|No live chat on mobile
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. SPEED BIT TRADER recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Clean UI|Comprehensive tools|Wide product range|Tax reports included
Cons: Could offer more webinars|Live chat only during business hours