An Honest BitQT Review in 2022

What is BitQT?

BitQT operates in the same way as most other automated trading services. The platform assigns brokers to its account holders and places trades on those brokerages using algorithms and APIs. BitQT monitors the crypto market and executes trades when conditions match your parameters (if you set them yourself). Users can also use a demo tool to develop a trading strategy.

BitQT is targeted at traders new to the market. The website talks about the risks and potential rewards from trading Bitcoin and also includes an FAQ to users may have about using a trading bot.

BitQT Overview

Pros and Cons of using BitQT

BitQT markets, assets, and options

What assets and products can you trade using BitQT?

BitQT allows users to buy and sell different cryptocurrency assets, including the most popular CFD assets. These include:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Ripple (XRP)

• Bitcoin Cash (BCH)

Speak to your broker if you require a complete list of available assets

What leverage trading options are there?

BitQT works alongside different brokers allowing CFD trading with leverage. CFD trades mean you purchase a contract on the asset value rather than the asset itself.

Currently, BitQT does not offer any information regarding leverage trading options. However, many similar bots offer trading up to 1000x on your original stake. This may change depending on your assigned broker, but you could deposit $250 and be able to make trades up to $250,000.

Leveraged trading should be treated with extreme caution. This type of deal very rarely pays off, especially if you do not execute the trade yourself. Account-holders can lose a lot of money due to leveraged trading. Only try this method if you can afford to take a significant loss - there is no guarantee you’ll make any money.

What are the spreads?

We could not find any information regarding spreads on BitQT. However, every broker sets their own spreads. If you need to know more, speak to the broker. Bear in mind that spreads will fluctuate as the price of Bitcoin and other crypto moves up and down.

Fees, limits, and payment options on BitQT

How much does BitQT cost?

BitQT account holders need to pay a $250 deposit before they can use the service fully. However, there are no other fees or subscriptions once you create an account.

What are the payment methods accepted By BitQT?

There is no information regarding payment methods. However, you should be able to use credit cards or debit cards to make a deposit. If you’d like to know more about payment options, you can contact BitQT through its contact form.

BitQT does not charge any deposit or withdrawal fees, though you may be charged by your credit card company.

Does BitQT also charge fees and commissions?

Expect to pay a 2% commission if you make any profits. BitQT only takes this commission when you make money.

BitQT trade sizes and limits

BitQT has a minimum trade limit of $250; there is no maximum trade limit. These limits may change depending on your broker. Speak to your broker directly if you have any questions.

BitQT platform

How does BitQT work?

BitQT works by analyzing trading signals from the crypto market and making automated trades. The bot tries to make profits using algorithms and APIs. Users can choose their own parameters or let the bot make all the decisions for them. Users should try the demo account until they understand how to use the platform.

What devices can I use BitQT on?

BitQT says the platform is optimized for web browsers and mobile devices. You can access it through Chrome, Safari, Firefox, IE, and any other browser. However, you may experience some functionality issues in a mobile device as there is no native mobile app.

BitQT is available on the following devices:

• Laptops

• Computer

• Tablets

• iOS

• Android

What exchanges and brokers does BitQT partner with?

We could not find any information on the exchanges and brokers partnered with BitQT. Account-holders are paired with a random broker when they sign up. If you have any questions about your broker's status and reputation, contact them directly or look up some reviews.

Can I use BitQT in my country?

BitQT is available in numerous countries that allow CFD trading, including:

• UK

• Russia

• Germany

• Italy

However, BitQT is not available in certain locations, including China and the USA. Check your country’s laws to make sure crypto or CFD trading is legal.

Is BitQT available in my language?

BitQT is available in 11 languages. YOu can find a full list of language options from a dropdown menu in the top-right corner of the homepage. These languages include:

• English

• Spanish

• Dutch

• Swedish

How easy is it to use BitQT?

BitQT’s main selling point is that it makes crypto trading easy. As such, the bot does not offer too many tools to complicate the process. The interface is straightforward and sleek, especially on a computer or laptop. Account-holders can also change trading parameters with ease.

BitQT does offer charts to inform your decisions and better understand the market. However, the live trading feature means you do not need to use these charts if you want to trust the bot’s algorithms.

However, trading bots are one of the riskiest ways to execute trades and you are more likely to lose your money. These bots are wholly unreliable and you should focus on improving your trading knowledge before trusting an automated trading bot. If you do want to use BitQT, only trade what you can afford.

Key features

BitQT has many key features. For example, there are simplified trading tools, a demo option, and unique algorithms designed to place trades and potentially earn profits. Some of the top features include:

Streamlined interface

BitQT offers a simplified interface that works well across several devices. Users do not need much experience when using BitQT as they can make trades automatically.

Market analysis, algorithms, and APIs

BitQT uses a selection of APIs and algorithms to make the best automated trades for account-holders. Alternatively, you can set parameters so the bot only trades when your conditions are met.

Demo trading

Like many similar bots, BitQT has a demo trading feature. Users can utilize this demo account to practice trading before risking their deposited funds. If you need to develop your trading strategy, the demo account is a risk-free way to make mistakes.

Security and regulation

Is BitQT legit?

While BitQT may seem legitimate on the surface thanks to a streamlined interface, the alarming number of seemingly fake reviews online suggest the site is less beneficial. As such, we do not recommend trusting BitQT to earn a profit.

However, BitQT does have disclaimers and warns about the risks of the cryptocurrency market on its homepage, highlighting the volatile nature of crypto assets. Keep in mind you are more likely to make a loss when using trading bots, especially if you do not have a comprehensive trading strategy or relevant experience.

Is BitQT safe?

BitQT offers plenty of security assurances, including account verification, KYC protocols, and SSL encryption to keep your sensitive information safe.

However, we found it hard to verify whether any partnered brokers were safe. There is no regulation information and you cannot choose your broker beforehand. When assigned a broker, research their name and ensure they follow regulatory procedures in their jurisdiction; only conduct business with regulated brokers.

Am I and my money protected?

BitQT does not hold any of your money. Instead, your deposit goes straight to the broker. The trading bot is only responsible for executing trades on your behalf. Your broker will handle any finances. If you have any concerns, speak to your broker directly.

Is BitQT regulated?

BitQT does not have any regulation information available. Certain brokers may follow regulations in the jurisdiction but this is not a given. Do your own research when paired with a broker and ensure they follow regulations.

Do I have to verify my account with BitQT?

Of course. Account-holders need to provide their email, full name, and phone number during the registration process. You can only enjoy the website if you have verified your details.

In addition, you’ll be contacted by a representative who’ll ask you for KYC documentation. Once you pass the KYC questionnaire, you’ll need to pay the deposit. Then you can use the demo account and enable live trading.

Extra information

Educational resources

BitQT is short on educational resources. Do not expect any informative articles, insights, or blog posts. However, the homepage does contain some information on Bitcoin and the potential benefits of using a trading bot, plus an FAQ section.

Tools and charting

When you pay your deposit, you can access different tools and charts to inform your trading strategy. The platform has real-time charts so you always know the value of popular crypto assets. Brokers also have CFD leveraged trading instruments to potentially increase profits, though you risk losing more money than you put in with leveraged trading.

Customer support

BitQT has a customer support form on its homepage for traders without an account. When you sign up, you also have access to a representative who can guide you through any troubles or issues. Users can reach BitQT support by email.

How to get started with BitQT

If you want to create an account on BitQT, follow these steps

• Step 1 - Sign up for your account

Go to the BitQT website, find the registration form, and type in your details. You’ll need your email, full name, and phone number to get started.

• Step 2 - Complete your registration with the advisor

Once you have completed the above step, you need to finish the registration with an advisor. You’ll receive a phone call or email and have to provide KYC information and documentation.

• Step 3 - Add money to your broker wallet

When you complete the KYC questionnaire, you need to add money to your wallet. The minimum deposit is $250. Remember, this is held by the broker rather than the trading bot.

• Step 4 - Use the demo account until you are comfortable

If this is your first time trading assets, use the demo account until you know what you are doing on the platform - you’ll lose less money if you are comfortable with BitQT before you start trading real funds.

• Step 5 - Enable live trading

Once you know how to use this trading bot properly, enable live trading, set parameters, and make your first trade.

Is there a BitQT alternative?

Yes, there are many more crypto robots available. If you don't want to use BitQT, check out some of our other reviews:

Final thoughts on BitQT

BitQT lets many users implement their own trading ideas via a simplified interface. However, you may not trust BitQT’s legitimacy, particularly when there are plenty of fabricated positive reviews online. While the homepage does not make any promises and warns about the market’s volatility, trading bots are so unreliable and cannot be trusted as a guaranteed money-maker.

Do not expect to make money through BitQT, you are highly likely to lose your deposit and more funds, especially if you do not have much experience trading crypto.

We recommend choosing an alternative platform and learning trading strategies before you risk your money. Read articles, insights, and practice on demo accounts until you are confident using a broker and never trust a bot to make trades on your behalf.