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Bitcoin News Trader Review 2019

FairBinaryOptions Broker Certificate
  • Min. Deposit $250
  • Max. Leverage -
  • Spread EUR/USD -
  • Mobile Yes
  • Platform Proprietary
  • LiveChat Yes

XBT  News Trader is a software that tracks news reports in order to create trading recommendations for cryptocurrencies. People have been bombarded daily with new information on cryptocurrencies, most notably, Bitcoin, since the coins started to rapidly gain in value in 2017. Since then it was also very clear that, while being an interesting investment opportunity, Bitcoin and other cryptocurrencies are very volatile and can suffer huge swings in prices depending on what is happening with the exchanges, regulators and overall market sentiment. Read the rest of our XBT News Trader review in order to see how this software works and what it can offer to you.

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  1. Bitcoin News Trader Account Features

    XBT News Trader aims to harness the power of these news reports to move prices for the benefit of cryptocurrency and CFDs traders. The idea is to follow all the relevant news sources and spot the individual news reports about cryptocurrencies. Then, the algorithm will determine if the news is positive or negative and how much. Based on this assessment it will swiftly create a trading signal, even before most traders will even manage to find about and read the article. This will give it advantage and enable traders to go in their bitcoin trading positions early.

    Can XBT News Trader Also Follow News on Ethereum and Other Cryptos?

    XBT News Trader does not only track Bitcoin, it also follows news for other cryptocurrencies like Litecoin, Ripple, Ethereum, Dodge and more. It will use its computing power to take into account all the reports coming in about the specific cryptocurrency and devise a recommendation for trading.

    Is XBT News Trader Suitable For Beginners

    This might be the easiest way for beginners to make sense of the movements in cryptocurrency prices. They also need to have some basic understanding on how cryptocurrency trading platforms or how CFDs trading works. We have you covered in both cases. Please use our guide for coinbase Bitcoin exchange and for CFDs/Forex trading of cryptocurrencies.

    How do I start trading with XBT News Trader ?

    In order to utilize bitcoin trading tips based on news, traders, however, need to:

    1. Register with XBT News Trader
    2. A Broker will be assigned to you
    3. Deposit with a cryptocurrency broker
    4. Check your email to get access to the software
  2. Bitcoin News Trader Trading Software

    After you have registered and deposited with XBT News Trader, an email in your inbox will provide you with the access to the XBT News Trader’s interface. The software itself is really simple to understand. The Dashboard is dominated by a chart of the number of news reports that were analyzed that day. You can see positive and negative cryptocurrency news and how much share in total each has. In our case, the news started coming in before 5 am in the morning. You can filter per cryptocurrency of your choice and set a different time period.

    Below is the list of trading signals. In our case, there were 4 recommendations. Only one was clear – Litecoin, it was expected to go up, and it subsequently did so we profited from that trade. BTC Cash, Ripple and Bitcoin moved as well, however, the software could not find a clear trend from the news so it set the expected trend of price to “flat”. We did not trade those recommendations since they were inconclusive. One could see on the onward price changes (as additional chart shown by the software) that they did move up, but not before going down. This means that we were in risk of opening a trade in any direction and missing it, depending on the exit time.

    How do I trade Bitcoin with XBT News Trader?

    Ok, you have decided which recommendation you want to act on. Next step is to go to a brokers website and make the trade. In step 2 you got assigned a broker and deposited on its website. We continued to trade CFDs with the same broker based on XBT News Trader’s recommendations. Please note, you cannot get access to the software if you already have account with a broker. You must use the broker assigned to you through the software. We would normally not be too happy with this, however, XBT News Trader is kept free this way, which in a way is a double win for the customer. After all, all the money you deposit, you can use for trading.

    XBT News Trader Forex Recommendations

    During our review we also noticed that XBT News Trader also offers some news alerts to trade forex pairs and other assets. This is a cool feature and brings even more value. Since our assigned broker offered only crypto underlying assets, we did not test how the signals work. Forex dashboard works the same way as the crypto Dashboard.

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  3. Bitcoin News Trader Support Information

    XBT News Trader offers a decent support. The support will help you with questions relating to the technical side of things, especially with the registration and broker assignment, since many customers apparently do not always understand how the broker account relates to their XBT News Trader account. We have explained this prior in the review. For any questions regarding the trading instruction with the broker, deposits or withdrawals, you need to contact the broker you were assigned too. In our review, broker had a good support.

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  4. Bitcoin News Trader Payment Methods

    As mentioned in the section before, all things relating to the deposits and withdrawals are with the brokers. XBT News Trader is just a software. The trading is also done with the broker. This also means that all things relating to the payments system will depend on the broker. We could not check all the brokers they have since each country has the best broker for that market assigned.

    From our experience, brokers require $250 minimum deposit. One can use credit and debit cards to deposit, but also bank wire and some e-wallets, depending on your country.

    In any case, broker will require KYC documents to verify identity. Prior to the withdrawal of funds you will need to deliver scans of an ID, utility bill and other documents that may be requested.

  5. Your capital is at risk
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