XBT News Trader, a software, built to offer its users recommendations on placing trades on cryptocurrencies. It accomplishes that by following all the relevant news so that people do not need to distinguish between positive and negative news from all the news that are being bombarded with on a daily basis. Back in 2017 coins started to increase in value so that they made sense as a fascinating investment opportunity. However, it was evident that they were very unstable and also, that their value could move back and forth depending on the overall market sentiment, regulators as well as what is happening with the exchanges. If you wish to find out more about this software read our XBT News Trader review that follows and see for yourself how the software works and how it can improve your trading.
XBT News Trader Account Features
In order to help its traders, XBT News Trader follows all the credible news reports and then, filters the ones relevant to cryptocurrencies only. By doing so, XBT News Trader’s algorithm will distinguish the positive from the negative news and thus, be able to create a trading signal that recommends to traders which trades to place according to those findings. In addition, XBT News Trader will offer its users the advantage of knowing the news since it would be almost impossible and very time consuming to find out about those reports without the use of XBT News Trader. Consequently, traders will be able to go in early into their crypto trading positions.
Can XBT News Trader Also Follow News on Ethereum and Other Cryptos?
Bitcoin, Ripple, Ethereum, Litecoin and many more currencies and news relating to these are followed by XBT News Trader in order to give recommendations on placing a trade according to the news received about a specific cryptocurrency.
Is XBT News Trader Suitable For Beginners?
Since novice traders need to have a basic understanding on how CFDs trading and cryptocurreny trading platforms work, then, it might be the easiest way for beginners to understand movements in crypto prices by using the XBT News Trader.
How do I start trading with XBT News Trader?
Traders who want to benefit from the bitcoin trading tips must:
- Register with XBT News Trader
- A Broker will be assigned to you
- Deposit with a cryptocurrency trader
- Check their email to gain admission to the software
XBT News Trader Trading Software
All traders receive an email in their inbox as soon as they register and deposit with XBT News Trader in order to gain access to the XBT News Trader’s interface which is pretty straightforward and easy to understand. Traders can see the amount of reports of that given day by making use of the dashboard which has a diagram showing it. In addition, they can see the positive as well as the negative crypto news and how much share in total each has. News started arriving a little earlier than 5am in the morning, in our case. Moreover, traders can use the drop-down menu and hence, choose to filter news according to the time that they arrived. For instance, traders can choose between setting custom dates or use the last 1 hour, last 4 hours, last 24 hours or last 7 days. It should be noted that by changing any of the filters the news supply timeline changes automatically and is displayed by time and strength. Under the news supply timeline traders can find the signals. There were four suggestions in our case. From those four, only Litecoin was clear enough for us to place a trade. As the news suggested Litecoin was supposed to rise and it did. Since we placed the trade we benefitted from that suggestion. In addition, there was a movement on Bitcoin, Ripple and BTC Cash too but since the software couldn’t identify a clear trend from the given news it set their expected trend of price to “flat”. As a result, we didn’t place a trade on those cryptocurrencies since the suggestions were unclear and as traders could see on the onward price changes, an extra graph shown by the software, their price did move up but not before going down first.
How do I trade Bitcoin with XBT News Trader?
As soon as you decide which recommendation you wish to follow you will then, need to log into a broker’s website and place a trade on their platform. As already mentioned in step 2, you got an allocated broker and you had to place a deposit on that broker’s website. It should be noted that if you have already an account with a broker then, you won’t be able to use the software unless you use the broker allocated by the software. We wouldn’t be happy about this, generally, but since XBT News Trader can stay free this way then, it is a win-win situation for the customer as well so that traders can use all their deposit for trading purposes only and not having to worry about paying a fee for using the software.
XBT News Trader Forex Recommendations
Another cool feature of using XBT News Trader is the fact that it additionally, offers some news alerts to trade Forex pairs as well as other assets. However, we didn’t get to test these signals for the reason that our allocated broker offered only cryptocurrency assets. Kindly note that the Forex dashboard works in the same way as the one for cryptocurrencies.
XBT News Trader Support Information
Support is a very important aspect of trading and XBT News Trader offers a high-quality support. For example, if new traders do not understand how the broker account relates to their XBT News Trader account then, they can get help from the support department. In addition, if they have any issues with registration or with broker allocation they can contact the support team as well. Lastly, as already mentioned, traders should contact their allocated broker if they face any problems while trying to make a deposit or a withdrawal as well as if they need some trading instructions.
XBT News Trader Payment Methods
Please note that XBT News Trader is only a software and for this reason as already stated above, any issues regarding deposits and withdrawals should be handled by the broker. What is more, anything related to the payments system should be addressed by the broker as well since trading is placed on the broker’s platform directly. It should be noted that we couldn’t check all the brokers they have because each country has its own best broker depending on the allocated market.
Deposits can be made by a credit or debit card as well as by a bank transfer and e-wallet depending on the country. Please note that the minimum deposit is set to $250 by most brokers, based on our experience.
Please take into consideration that brokers will ask for KYC documents so that they can verify identity. In the event of withdrawal brokers might request additional documents such as scans of ID, a utility bill or any other sort of documents before they grant a withdrawal.