What is XBT News Trader, one might ask. XBT News Trader is nothing more than a software that helps traders, by collecting news with the intention of giving recommendations on how to place a successful trade on cryptocurrencies. Since the value of cryptos started to rise back in 2017, people started to be bombarded with fresh information on cryptocurrencies in general and most specifically Bitcoin. Even if Bitcoin and other cryptos in general appear to be a golden investment opportunity, it is pretty clear that they can be quite unpredictable too and can change their price significantly depending on the market sentiment and what is happening around the globe with the exchanges and regulators. In case you wish to explore XBT News Trader more, keep reading our full review below to see how the software works and how it can benefit your trading.
🌟 XBT News Trader Account Features
The main aim of XBT News Trader is to make use of all the latest news so that traders can benefit when placing a trade on cryptocurrencies and CFDs. The software does that by following all the relevant and reliable news sources so that it can then, identify the news related to cryptocurrencies only. Once it identifies the relevant news it will then, determine whether it is a positive or a negative news. Long before most traders read or even find out about the article, the software will have already created a trading signal. Thus, offer the advantage to traders to go in early into their crypto trading positions.
🌟 Can XBT News Trader Also Follow News on Ethereum and Other Cryptos?
XBT News Trader not only follows Bitcoin but in addition it tracks other cryptocurrencies and their news such as Ripple, Ethereum, Litecoin and many more. It puts its computing power to practice in order to consider each and every one of the news received about the specific cryptocurrency and generate a recommendation for trading.
🌟 Is XBT News Trader Suitable For Beginners?
By using XBT News Trader it is really easy for beginners to understand the movements in cryptos prices. In addition, new traders need to have a basic understanding of the cryptocurrency trading platforms and also, of the way CFDs work.
🌟 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 allocated to you
- Deposit with a cryptocurrency trader
- Check your email to gain admission to the software
🌟 XBT News Trader Trading Software
As soon as you register and deposit with XBT News Trader, you will receive an email in your inbox so that you can gain access to the XBT News Trader’s interface. The software is extremely easy to understand. The dashboard has a diagram showing the amount of reports of that given day. Not only you are able to look at positive and negative crypto news but also, to see how much share each one has in total.
In our case, the news began arriving before 5 am early in the day. Moreover, you have the option to filter the news based on the cryptocurrency that you wish to follow. Furthermore, there is another drop down list that allows you to filter news based on the time they arrived. For example, last 1 hour, last 4 hours, last 24 hours, last 7 days as well as setting custom dates. By changing any of the filters, the news supply timeline, which is displayed by time and strength, changes accordingly.
The trading signals are displayed under the news supply timeline. In our situation, there were four suggestions. Only Litecoin was clear as it was expected to rise, and it did. Thus, we benefited from that trade. Moreover, BTC Cash, Bitcoin and Ripple moved too. Nevertheless, the software couldn’t identify a straightforward pattern from the news, so it set the expected trend of price “flat”. For this reason, we didn’t place a trade based on those suggestions since they were unclear. One could see on the onward price changes (as extra graph shown by the software) that they moved up, yet not before going down first. This implies we were in danger of placing a trade in any direction and missing it, depending on the exit time.
🌟 How do I trade Bitcoin with XBT News Trader?
Once you choose the recommendation that you want to follow you will then, need to visit a broker’s website and actually, place the trade. In step 2 you were allocated a broker and deposited on his website. We kept trading CFDs with the same broker according to the XBT News Trader’s suggestions. Kindly note that if you already have an account with a broker then, you won’t be able to gain access to the software. You should only use the allocated broker through the software. Under normal circumstances, we wouldn’t be very happy about this but since XBT News Trader is kept free this way, then, it is a double benefit for the customer. Subsequently, you can use all your hard-earned money that you deposit purely for trading.
🌟 XBT News Trader Forex Recommendations
In addition, while doing our review we observed that XBT News Trader also, offers some news alerts to trade forex pairs and other assets. In our opinion, this is a nice characteristic and adds even more value. Moreover, we did not get to test how the signals work for the reason that our allocated broker offered only crypto underlying assets. Additionally, the Forex dashboard works the same way as the crypto Dashboard.
🌟 XBT News Trader Support Information
The support offered by XBT News Trader is of decent quality. Since several novice traders do not fully understand how the broker account relates to their XBT News Trader account, they might need some help from the support department especially with issues regarding registration as well as broker assignment. As already mentioned, traders should contact their assigned broker for issues relating to deposits, withdrawals or trading instructions.
🌟 XBT News Trader Payment Methods
As already mentioned in the above section, issues regarding deposits or withdrawals should be addressed by the brokers since XBT News Trader is simply a software. In addition, trading is also, done with the broker. As a result, this means that anything related to the payments system will also, be dependent upon the broker. Since every country has the best broker for that market allocated, we hence, couldn’t check all XBT News Trader brokers.
$250 is the minimum deposit that most brokers request based on our experience. Moreover, depending on the country of residence traders can use debit or credit cards to make a deposit as well as a bank transfer or e-wallet. Nonetheless, the broker will require KYC documents to verify the identity. Before being able to withdraw funds, you need to provide ID scans, utility bills and other requested documents.