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Trade By Trade Review - is it scam or safe?

Trade By Trade Review - is tradebytrade.com scam or good cryptocurrency exchange?

RATING: 2.8 / 6 REVIEWS Trade By Trade

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

 

 

Account type

Min. Deposit

Leverage

Trading fee

Withdrawal fee

Standard

N/A

yes*

0.20%

0.01

 

* The system will calculate how much leverage you can get, based on your margin and your account profile. The margin fee is 0.5% per day.

 

Trade By Trade is a crypto-exchange that offers only coin-to-coin spot trading, as well as margin trading. Nonetheless, its users are able to trade in around 60 digital assets, which is a rather rich cryptocurrency portfolio. In fact, it seems that Trade By Trade specializes in small market cap coins, which are traded against Bitcoin.


As most similar venues, Trade By Trade also uses two-factor authentication that makes user accounts safer. ID verification of users is not necessary at this exchange, however those who have submitted the documents required for verification have higher daily withdrawal limits.

 

Allegedly, the majority of funds traded at this exchange are kept in cold storage.

 

Trade By Trade Advantages

 

Competitive trading fees

Trade By Trade charges a flat fee of 0.2% per trade, regardless whether you are a market “taker” or “maker”. Such fees are in line with the industry’s average, however, many exchanges charge only market takers - users who place orders at the market price that get filled immediately.

 

Margin trading available

This exchange offers margin trading, i.e. you can borrow funds from Trade by Trade in order to leverage your investment. Although this is a nice option (charged with a daily fee of 0.5%), keep in mind that margin can multiply both your gains and your losses.

 

If you need some leverage, you may also check out crypto margin trading offers of forex brokers


>>Bitcoin trading with forex brokers <<

 

 

You can find more detailed information on the differences between trading coins with a forex broker and a crypto exchange here.

 

Many alternative coins offered

Apart from Bitcoin, Litecoin, and Dash one can trade in a large number of altcoins at the Trade By Trade exchange, such as TCoin (TCN). Oddly, it seems that Ethereum is not available for trade on this exchange.

 

Relatively nice platform

The web platform provided by Trade By Trade leaves a good overall impression. It has a nice design, features an order book, trading history, trading ideas, as well as a Pro analysis option with advanced charting by TradingView. Besides, there are many order types, such as Multiple Buy / Sell orders and Conditional buy.

 

Here is a screenshot of the platform:

 

 

Click on the image to zoom-in.

 

Trade By Trade Disadvantages

 

No fiat currencies, not suitable for beginners

Trade By Trade does not work with traditional money. So, clients of this exchange cannot use their bank accounts or credit cards in order to start trading. They need to have Bitcoin or other coins supported by Trade By Trade. That is why we reckon that this crypto platform is not not beginner-friendly.

 

>>Buy Bitcoin with a credit card<<

 

High withdrawal fees

Cryptocyrrency deposits at Trade By Trade are free, however users have to pay pretty salty withdrawal fees, amounting to 0.001 of any cryptocurrency.

 

Unknown company background

Trade By Trade website only mentions that the exchange is operated by Trade By Trade Ltd., a Vanuatu IBC with headquarters in Belize. Both Vanuatu and Belize are offshore zones and companies registered there generally do not inspire a lot of trust.

 

Low trading volumes on many instruments

It seems that trading volumes on many pairs at Trade By Trade are rather poor.


Conclusion

 

Trade By Trade is a relatively small coin-to-coin exchange (in terms of trading volume). It supports a total of 60 cryptocurrencies and also offers a margin trading option, but does not accept fiat currencies.

 

Another thing we like about this exchange is that it does not support some popular coins like Ethereum, and Ripple. More importantly, there is very little information on its website about the company behind the exchange and its team. While most crypto-exchanges worldwide operate without any license, almost all share with the public who are the people behind it.

 

We remind you that you can always find a trusted and licensed forex broker, with whom to trade in Bitcoin and other cryptocurrencies with margin.

 

>>Trade Bitcoin with a trusted forex broker<<

 

 

Pros

Cons

Competitive trading fees

Unknown company background and headquarters

Margin trading available

Fiat currencies not accepted, ETH and XRP not supported

Deposits free of charge

Not suitable for beginners

Many altcoins offered

High withdrawal fees

Relatively good trading platform

Low trading volumes on many instruments

 

 

 

Latest news about Trade By Trade
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Traders` reviews for Trade By Trade

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Price feed

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Platform

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Complaint for tradebytrade

I have had a bad experience and believe TBT is a scam. I have made a ETH deposit and my funds have not reflected. I have check and track the funds was sent and successfully deposited into the ETH addresss but on TBT site the funds are not reflecting, I have contacted support but nobody is replying.

Russell 08/11/2019

Scam - impossible to withdraw

It's impossible to withdraw Altcoins, the support lied to me all the time and finally I lost all my money.

Never join to TradeByTrade!

Roi 02/01/2019

Trade coin club and TadebyTrade

Lost 1.27 bitcoin with Tradecoinclub when you transfer to Tcoin then to tradebytrade you get half your investment by the time you convert it back to bitcoin you only get a small amount back I posted I have now been blocked by tcc for posting a negative comment from these thieves.dont go near them

Grant Daly 08/04/2018

Scam

Avoid for all cost. You can only withdraw btc or tcoin wchich is scam.After 10 emails I have already got my btc stay away from here

Jack 08/04/2018

TCOIN is a scam!

I hope people have realized now that TCOIN is a scam. Please stay away from such features. TCOIN business concept is the same as bitconnect. its unstable and scam.

elliot 07/05/2018

SCAM

This 'exchange' is a scam. Not only do they blatantly lie in their FAQ (it is impossible to withdraw altcoins), they have lots of fake volume. There are no transactions, nor any history of trades, yet they appear to have big volume on some coins.
When I try to sell 0.63 DASH, it shows as a sell order of 1.09 DASH. The price of coins changes, but there is no evidence of any trade whatsoever.

Please stay away from this scam!!!

Dennis 06/11/2018
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