Account type | Leverage | Maker Fee | Taker Fee | Deposit Fee |
Standard | 1:3* | 0%** | 0%** | Free |
*margin is not granted instantly.
**only applies for BTC trading. There is a 0.20% fee on altcoin trading.
BTCBOX is a Japanese cryptocurrency exchange. They operate from the domain btcbox.co.jp and should not be confused with btcbox.in – a platform which supposedly provides “free Bitcoin”, but has received multiple negative reviews. The distinction is quite important as the Japanese exchange appears to be a very reputable one.
FSA Licensed – BTCBOX is the eight cryptocurrency company to be overseen by the Japanese Financial Services Agency (JFSA). This brings a lot of credibility to their offer, as not a lot of Bitcoin exchanges are regulated by a reputable financial watchdog. They also provide information about the actual company behind the project and their banking partners. While this sounds natural for a regulated company, it isn’t always the case with shadier trading venues. Two-factor verification is also provided.
Decent fees, BTC is free – trading Bitcoin at BTCBOX comes without any costs. That being said, altcoin traders will be charged a 0.20% fee. This applies both for market “makers” (the people who place passive orders in the book) and “takers” (the ones who buy or sell at the best price available). This is pretty much the standard at this point in time – not too high, but also not too low, when compared to the competition.
No deposit fees – there are no deposit fees on blockchain transfers to BTCBOX. Additionally the company does not charge anything extra on bank transfers. While certain costs will be involved in either form of deposit (be they mining or banking), the company does not take anything extra.
1:3 in leverage – BTCBOX is one of the few exchanges to facilitate margin trading. However, according to company policy each trader willing to borrow coins will have to be processed manually. This means it could be hours or even day before you are approved to receive it. This can definitely be an issue for aggressive traders, who are willing to jump on a chart setup. They will be much better suited with a forex broker.
As you may already know a lot of these more traditional financial companies have started providing Bitcoin (and altcoin) trading. This is achieved via CFDs, which is slightly different than setting up a cryptocurrency exchange. In essence you only speculate with the price of the given coin, without owning it. For more information, check the full guide.
Japanese banking support – BTCBOX accepts Japanese Yen deposits. This makes them a great entry-level exchange for the locals.
>>Buy Bitcoin with a credit card<<
Two trading platforms – trading at this exchange is done via two interfaces. One of them is rather simple and rather nice. Additionally, a more “professional” version is also available. It offers solid charting and is arranged even more conveniently. Here is the preview (click to zoom in):
Focus on Japan – while English and Chinese versions of the website, this is still an exchange primarily oriented towards Japan. We are not certain if the support will be up to par with the one provided by other companies (although basically everyone has received negative comments on this point).
Margin is not instant – the fact margin has to be provided to clients on an individual basis can be troubling. We haven’t tested the service, but just by reading the terms we expect delays to be quite possible.
Only four coins available – the short list of digital assets available at BTCBOX includes: BTC, BCH, LTC and ETH. Volumes on the ones other than Bitcoin are rather low.
Trading only against JPY – this is another thing limiting non-Japanese clients. It’s just company policy and there is nothing wrong with that, but we must mention it.
Withdrawal fees present – while they are small, these fees may irritate some users. The Bitcoin one is 0.001BTC.
No user reviews in English – BTCBOX doesn’t appear to be popular in the West. This is to be expected, given the previous factors.
BTCBOX is a Japanese cryptocurrency exchange, which is regulated by the Financial Services Agency (JFSA). This makes them a much more credible company than most of the competition. They provide access to Japanese customers to the world of crypto, as they even accept bank transfers. That being said, they may not be the ideal trading venue for a foreigner.
While this is a highly regulated exchange, the world of cryptocurrencies still carries a level of risk. If you are only looking to speculate with the price of Bitcoin, doing so with a forex broker may be preferable. View the link below for more details on the way regulation for forex brokers, offering Bitcoin works.
>>Regulated Bitcoin forex brokers<<
Here is the summary of BTCBOX:
Pros | Cons |
FSA Licensed | Focus on Japan |
Decent fees, BTC is free | Margin is not instant |
No deposit fees | Only four coins available |
1:3 in leverage | Trading only against JPY |
Japanese banking support | Withdrawal fees present |
Two trading platforms | No user reviews in English |
Account type | Min. deposit | Min. trade size | Max. leverage | Average Spreads |
Standard | $50 | 0.01 | 1:50 | 1.4 pips |
Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.
In addition, Forex.com offers swap-free accounts to investors of Islamic belief, as well as free demo ones for 30 days after sign up.
Regulated in the US and other countries
Forex.com belongs to the Gain Capital group. Gain Capital meets high standards of corporate governance, financial reporting and disclosure. The parent company of the major FX brand Forex.com, GAIN Capital Holdings, Inc. (NYSE:GCAP) is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Besides, its subsidiaries are properly licensed in the countries of their operation:
Company | Country | Regulation |
GAIN Capital Group, LLC | USA | NFA, CFTC |
Forex.com UK Limited | UK | FCA |
GAIN Capital FOREX.com Australia Pty Limited | Australia | ASIC |
Forex.com Canada Limited | Canada | ILLROC |
GAIN Capital Group (Hong Kong) Limited | Hong Kong | SFC |
GAIN Capital Japan Ltd. | Japan | FFAJ |
Apart from Forex.com, Gain Capital Group is operating the brands City Index, GTX, Gain Capital, FinSpreads, and others.
The largest broker in the US
Not only that Forex.com is regulated in the United States, but it is actually the largest forex broker in the country. After FXCM has left the US market, Forex.com became the undeniable leading provider of financial services in the US.
Actually, a very few brokers have remained active on the strictly regulated US market: Oanda, Interactive Brokers, and TD Ameritrade.
Competitive spreads
Forex.com offers commission-free trading with variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is a rather competitive pricing. By comparison, the cost of trading at Oanda, another US broker, is exactly the same.
Low minimum investment required
In order to open an account with Forex.com, one has to invest just $50. Almost everyone can afford such an investment.
Several top-notch trading platforms available
Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.
Actually, this piece of trading software is as sophisticated and customizable as the MT4. Its professional-grade trading tools include top-notch interactive charting with more than 100 predefined indicators, as well as the option to create some of your own. There are also a number of Integrated trading strategies, which are also customizable. Besides, users can code their own trading strategies (in C++), there is a back-testing excel tool available, and signals trading. Here is a snapshot of the platform:
Click on the image to zoom-in.
Some of the new functionalities of the platform after a recent update include powerful charts with integrated one-click trading, smart trade ticket with advanced risk management option, pre-defined and customizable layouts, and more.
Various payment methods, fast withdrawals
Yet another thing we like about Forex.com (US) is the fact that it support several convenient payment methods, and namelY Debit Card, Wire Transfer, ACH and Checks. What is even more important from a client's point of view, withdrawals are processed pretty fast – within 48 hours.
Bonuses available
Leverage capped to 1:50
Actually, this is not a weak side of the broker itself, but a legal requirement in the US. Brokers operating in the country are not allowed to provide leverage of more than 1:50, and Forex.com simply complies with the regulatory requirements.
Forex.com (US) is the largest US broker and one of the few actively operating in the country. A market leader offering trading in more than 80 forex pairs and CFDs, it has serviced over 200,000 customers globally.
The US broker is a part of the Gain Capital group – a leading forex brokerage with global presence. All members of the Gain Capital family are duly regulated by the respective governmental agencies, including Forex.com (US). It is registered with the CFTC and a member of NFA. US regulation is one of the strictest, which is a good thing in terms of investor protection, however some of the rules imposed are considered too restrictive.
For example, Brokers registered with the NFA are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. Moreover, hedging is not allowed and leverage is limited to 1:50, as we already mentioned above.
Now, let’s sum up the strong and weak sides of Forex.com (US):
Pros | Cons |
A global leading broker | Leverage capped at 1:50 |
Solid regulation | |
Competitive spreads, commission-free | |
Several trading platforms, including MT4 | |
Low min. deposit required |