BrightFinance Review – Is BrightFinance Trustworthy? A Detailed BrightFinance Review
Everyone is talking about cryptocurrencies these days. While there are many other tradeable assets that can be found in the market, cryptocurrencies have generated a lot of hype due to the peak achieved by Bitcoin and others in 2017. There has been a lot of talk about the profits investors made and the uncertainty surrounding this digital currency is now clearing up. This is definitely a positive sign and it has prompted more people to take an interest in cryptocurrencies. The number of cryptocurrencies has doubled in the last few years, which means there are plenty of options to explore.
However, in order to start trading cryptocurrencies, you need a broker. There are plenty of brokers in the market and they have millions of traders on their platform already. It is a fact that more traders will opt for a broker if it is offering better services than the others. The only reason people take an interest in a broker is because it is able to cater to their needs in a better way than the rest. Some brokers online only cater to beginners while some brokers have customized their services to suit experienced traders. But, the best brokers are the ones that can fulfill the needs of every trader, regardless of their background.
If you are looking for such a broker, BrightFinance does the job right. This broker has been developed for all kinds of traders, whether they are just starting in the market or have been trading for a few years. One thing to note about BrightFinance is that even though it is authorized to offer commodities, stocks, indices and forex currencies, the broker has chosen to specialize in cryptocurrencies. It is aware they are a popular trend and has ensured that traders can find everything they need for trading cryptocurrencies profitably.
Overview of BrightFinance
This broker has been operating in the market for nine years, which has allowed it to garner experience in the industry thereby customizing offerings to help traders in the best possible way. Owned and operated by a company called Capital Letter GmbH, BrightFinance is registered in Munich, Germany. This is also an assurance because you know the company is registered and not a shady organization that would just vanish with your money. Moving on, BrightFinance is authorized to offer CFD trading. This is referred to as Contracts for Difference, which is a popular form of trading because it limits the risk of traders significantly.
83% Win Rate$250 Min DepositAccepts Credit Card
In this form of trading, you don’t have to actually purchase the asset in question, but buy and sell contracts of the specific cryptocurrency you wish to trade. While it is registered in Germany, the broker has opened offices in three different locations for the convenience of its traders. Since it wishes to cater to an international market, it has set up its offices in Dominica, Wenlock (London) and now Cyprus as well. Again, this is highly reassuring for traders because this indicates that the broker is dedicated to maintain its reputation in the world of cryptocurrency trading. There are different aspects of the broker that have appealed to global traders and you can also take advantage of them.
Some of the top ones are highlighted below:
- An impeccable and comprehensive trading platform
If you ever get a chance to ask experienced traders about their experience with the broker, the feature they will talk about the most is the trading platform. It is the software that’s used for conducting trades and gives you access to tools that can be used during the process. The fact is that even the best trading conditions will make not make a difference if the platform doesn’t have essential tools or lags in performance. These are some common complaints that traders make about a broker’s trading platform. BrightFinance has made a lot of effort to ensure that their customers don’t have the same issues.
The broker has developed a web-based trading platform for the convenience of its traders. The web-based platform is a better alternative than desktop or mobile trading platforms. With a web-based platform, the compatibility issues are automatically eliminated. Moreover, you don’t enjoy the same flexibility if you are using a desktop based platform. Such trading platforms can only be used on the devices they are downloaded, which means you cannot trade on the go. They take up a lot of space and can also have performance issues if the device is not working properly.
Apart from that, you have also have to update them constantly to ensure there are no security vulnerabilities. All these hassles are eradicated when you opt for BrightFinance’s web-based trading platform. It can be accessed via the browser, which means it gives you the benefits of a mobile trading platform as well. You can simply access it through your smartphone’s browser, which enables you to trade regardless of your location. There are no delays in performance, execution is quick and smooth and there is no need to make any downloads.
Plus, the maintenance is the responsibility of BrightFinance and you only need to focus on using the platform. It is better than a mobile option as well because in mobile trading platforms, features have to be reduced to give optimal performance, which can be a downside. Also, some brokers only offer platforms for iOS or only for Android and this can create issues if you have a different device. With BrightFinance’s web-based trading platform, you can enjoy fast and quick trading. The user-interface is responsive and even beginners have no issues in mastering the trading platform. All trades are reflected in real time and you can enjoy some of the best charting tools and price indicators to help you make solid trading decisions.
- The option of trading the top cryptocurrencies
Even though Bitcoin was first introduced in 2009, the cryptocurrency trend picked up in the last few years. The uncertainty surrounding this virtual currency had also prevented brokers from offering it as a tradeable asset. All of this has changed in the last couple of years as it is being adopted by numerous industries. Nonetheless, many brokers are still offering only a limited number of cryptocurrencies to their traders. Therefore, BrightFinance’s offerings are extremely appealing to traders because the broker has given its customers the opportunity of trading a variety of cryptocurrencies from its platform.
Instead of offering only a few options, such as Bitcoin, Ethereum and Litecoin, BrightFinance has expanded its asset index by a huge extent. When you sign up with the broker, you will be able to trade Bitcoin Cash, Ripple, Digital Cash (also known as DASH) and Ripple. The greater variety means that you will be able to diversify your portfolio significantly, which can reduce the risks by a huge extent. It also allows you to maximize your returns because you are able to benefit from the fluctuations in the price of different cryptocurrencies. Apart from these top names, you can find 500 digital coins for trading.
- The ability to choose from different account options
It is true that every broker offers you different account types to choose from, but the problem is that their options are very restricted. Therefore, it can be difficult for traders to choose an account option that can meet their needs. Usually, they fall in between two account types and this can cause a lot of confusion. Most traders often end up making the wrong choice and have to deal with a lot of problems during trading. Understanding this dilemma, BrightFinance has customized their account options to suit a wide array of traders. The account options that you will find on BrightFinance are:
Explorer: This is the first account option that you will find when you are thinking of signing up at BrightFinance. As the name indicates, this account option is best suited for traders who are just exploring the market for the first time. The deposit requirement for this account starts from $250 and you can get the most basic features with it. You can invest a maximum of $2,000 in this account type. It will give you access to 24/7 customer service, the trading academy that has been set up by BrightFinance and professional chart as well.
Basic: The second account option is referred to as the Basic account and you have to deposit at least $2,500 to get started. You can go as high as $9,999 in this account. Along with the features of the Explorer account, this option also gives you access to a personal analyst who can assist you in taking smart investment decisions. You can get an introductory private session and can also enjoy weekly financial research as well as market reviews that can help you in making profitable decisions.
Silver: The third account type that you will find at BrightFinance is known as the Silver account. It can be opened with a deposit of $10,000 and allows you to have monthly private sessions with an analyst. Again, this can make a big difference because it helps you in understanding what decisions would be better for your deadline. The maximum amount that you can invest through this account is $24,999.
Gold: The next account option that you will find at BrightFinance is called the Gold account. This one has been aimed at experienced traders who know what they are doing and are certainly not new to the market. They can enjoy the features of the above mentioned accounts in this one. The deposit requirement starts with $25,000 and can go as much as $99,999. Apart from that, this account comes with a smart money management plan as well, which is a bonus because it helps in maximizing returns as much as possible.
Platinum: The last account type that you will find on BrightFinance is the Platinum account. It can be opened with a deposit of $100,000 and gives traders a direct line to the account analyst. It has been designed specifically for professional traders because the maximum investment that can be made in this account is $499,999. A senior account analyst is available for developing a long-term financial plan and traders are also provided with around 5 protected trades, which is a big benefit.
You can check out the different account options available when you wish to sign up on BrightFinance and choose an account that’s comfortable for you.
- You can enjoy flexible trading conditions
Why do you wish to trade cryptocurrencies? The primary goal for any trader is to make as much money as possible. When you are searching for an online broker, it is essential to see how much money you can make by choosing them. There are some brokers that are more focused on making money for themselves and this creates a conflict of interest. This can make it difficult for traders to achieve their financial goals. How do they do it? They imposed heavy fees on withdrawals and other trading charges like account inactivity fee, maintenance fee etc.
They also charge commissions on trade executions, which can eat into your profits significantly. Also, they provide limited leverage for trading cryptocurrencies so it doesn’t help in earning more profits. Luckily, these are some issues that you don’t have to deal with when you choose BrightFinance. This is due to the fact that the broker is renowned for offering some of the most flexible trading conditions in the market. First and foremost, the broker is completely transparent about its pricing policies and has also ensured they are fair to the traders and don’t take undue advantage of them.
They do not have any inactivity fee or any other such hidden charges to surprise you later on. They do have a withdrawal fee applicable, but it is of a very small amount and is only charged because of crypto transactions. There are zero fees that you have to pay for making deposits in your account with BrightFinance. However, the most notable thing about the broker is that they don’t charge any commission on your trades. But, then how do they make their profits? The commission scheme can often by very costly for traders and a major turn off.
Knowing this, BrightFinance has chosen to use spreads for making their money. This refers to the difference you will notice in the buy and sell price of a cryptocurrency. BrightFinance charges money through spreads and it offers the tightest spreads, which means you have to pay only a small sum of money in trading costs. This enables you to take most of your profits home instead of paying a significant amount in trading costs. As far as leverage is concerned, BrightFinance has paid attention in this regard as well because unlike other brokers in the market who don’t offer a leverage higher than 1:2, BrightFinance is offering 1:5.
As opposed to other trading instruments, this may not seem like much because leverage can go as high as $1:200. However, cryptocurrencies are already quite volatile due to which a leverage of 1:5 is enough to amplify your profits. This can help you in earning as much money as you want.
- The deposits and withdrawals are very smooth
One of the biggest complaints that traders make during trading is the hassle they have to deal with when it comes to deposits and withdrawals. The trading world, especially cryptocurrency, is a very sensitive one. Trends change in a matter of seconds and even a slight movement can have a big impact on your bottom line. Therefore, you don’t want to wait long for entering or closing trades, but what if you run out of funds? BrightFinance has made sure that both deposits and withdrawals are smooth via their platform.
There are several methods provided to traders for their convenience. You can stick with the traditional option of bank wire transfers if you are concerned about security. But, it should be understood that wire transfer deposits. If you are looking for instant deposits, you can opt for the debit or credit card option. Both, Visa and MasterCard are supported on the platform. Apart from that, BrightFinance has also added the option of using e-wallets as they are very easy to use and quick as well. You can opt for Neteller, Paysafe, WebMoney, Qiwi and more and deposits will be made instantly. There are no charges on making a deposit.
The same methods are also available for withdrawal. There is a withdrawal fee applicable, which varies according to the payment method you are using. In addition, the time taken for withdrawal also depends on the method you choose. Bank transfers take the longest whereas debit and credit card are faster, but they may be costlier.
- There is a possibility of earning via referral
One of the most appealing features of BrightFinance is that the broker doesn’t just let you earn through trading. Sure, you can buy and sell cryptocurrencies to earn profits, but there are other ways to earn on BrightFinance. They have a referral program that allows traders to earn money just by recommending people to sign up with the broker. When your referrals deposit a sum of $2,000 or more, you will earn a commission of $200. You can accumulate the funds by referring your friends and family members to BrightFinance.
- Extensive educational material is available
The cryptocurrency industry is relatively a new one for many traders. It has only been around for a decade and things are still changing and evolving. This means that there are plenty of things that traders have to learn, especially when they are just getting started. While it is true that you can find plenty of information on the internet, the accuracy of this information cannot be determined. Not every piece of information may be based on facts and if you use it for making decisions, you could end up making the wrong ones.
In order to assist its customers, BrightFinance has developed a trading academy on its website. As the name indicates, the purpose of this academy is to help people learn and the ins and outs of cryptocurrency trading. You will find material in the form of detailed e-books, thorough online video tutorials as well as webinars by professionals. The purpose is to help you understand the basics and develop appropriate strategies to trade cryptocurrencies profitably. You can choose what trading course you wish to take and it will help you learn a lot.
- The ability of getting help when you need
When you sign up with a broker for the first time, you may have tons of questions and concerns. These could be about opening an account, making deposits or any other issues. No matter what it is, you want to get answers right away in order to continue the process. This is where customer support comes in. BrightFinance is fully aware of the role customer care can play in the experience of a trader due to which they have made a great deal of effort in providing appropriate options. You can get in touch with them through several channels, such as online contact form, phone and via email.
You can choose any option you are comfortable with BrightFinance will provide you with the necessary help 24 hours a day, 5 days a week. They have a team of capable and professional people who have years of experience under their belt and allow you to benefit from it. In addition, the broker has also offered an FAQ section where traders can find answers to common questions. They don’t need to contact customer support and can easily get solutions.
When you put all these together, you can see why BrightFinance has become the top choice of traders all over the world. They have also worked on the security and safety of their trading platform and website and assure the complete privacy of their customers to help them in participating in the cryptocurrency mania with complete peace of mind and a great deal of flexibility.
83% Win Rate$250 Min DepositAccepts Credit Card