Score
Saint Vincent and the Grenadines
|
2-5 years
| https://bitcastle.io/ja/fx/landing-page
Website
Rating Index
MT4/5
Full License
bitcastle-Demo
Influence
A
Influence index NO.1
India 8.13
MT4/5 Identification
Full License
Hong KongInfluence
A
Influence index NO.1
India 8.13
LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
bitcastle.io Singapore
VIP is not activated.| bitcastle Review Summary | |
| Founded | 2022 |
| Registered Country/Region | St. Vincent and the Grenadines |
| Regulation | No regulation |
| Market Instruments | Cryptos, forex, commodities, indices |
| Demo Account | ✅ |
| Spread | From 1.1 pips (Standard account) |
| Leverage | Up to 1:1000 |
| Trading Platform | MT5 |
| Min Deposit | JPY 500 |
| Customer Support | Live chat |
| Email: contact@bitcastle.io | |
| Facebook, Twitter, Telegram, Instagram | |
| Address: Euro House, Richmond Hill Road, Kingstown, St. Vincent and the Grenadines | |
| Restricted Areas | United States, Afghanistan, Central African Republic, Congo, Cuba, Egypt, Guinea, Iraq, Iran, Lebanon, Belarus, Libya, North Korea, Pakistan, Somalia, Sudan, Syria, Venezuela, Vietnam, Yemen, Zimbabwe, China, South Sudan, Myanmar, Russia, Regions of Crimea, Donetsk and Luhansk |
bitcastle is a global cryptocurrency exchange platform launched in 2022 in St. Vincent and the Grenadines and now has offices in Japan, Singapore and Vietnam. Maily deals with cryptos trading, the broker also offers trading in forex, commodities and indices.
Trades are executed on the industry-leading MT5 platform through web. There is a demo account for trading and two tired live accounts with a minimum deposit of JPY 200, affordable to most traders.
Additionally, the broker implements 2FA to protect client assets and allows for copying trading so investors can imitate strategies from successful traders. Trading tools such as economic calendars, pip calculators, margin calculators help traders to stay informed with market updates and estimate trading costs in advance.
As a crypto exchange, the broker provides its own crypto wallet which is downloadable from both iOS and Android phones.
However, the broker currently operates without any valid regulation, which indicates possible less compliance to industry and customer protection.
| Pros | Cons |
| Demo accounts | New to the market |
| Tight starting spreads | Regional restrictions |
| MT5 platform | No regulation |
| Affordable minimum deposit | Commissions charged on the Pro account |
| No deposit fee | Trading/withdrawal fees charged |
| Live chat support |
Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of bitcastle, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
bitcastle not only offers a demo account for traders to practice their trading strategies, but also 2 tiered live accounts: Standard account with low entry point of JPY 500 and Pro account with moderate minimum deposit requirement of JPY 30,000.
Spread start from 1.1 pips for Standard account while tighter from 0.2 pips from the Pro account. However, the Standard account does not charge any trading fees, but there will be a commission of $8 per lot in the Pro account.
| Account Type | Min Deposit | Spread | Commission |
| Standard | JPY 200 | From 1.1 pips | ❌ |
| Pro | JPY 30,000 | From 0.2 pips | $8 per lot |
bitcastle offers a leverage level of up to 1:1000, allowing you to maximize your position with limited initial deposit.
But it's always advised to use leverage prudently due to significantly amplified losses at the same time of gains.
bitcastle developed a proprietary crypto wallet available on iOS and Android for clients to buy and sell cryptocurrencies.
bitcastle claims the use of the industry-leading MetaTrader 5 platform through web, as well as an app version downloadble from Windows, Linux, MacOS and mobile phones. This allows you to trade anytime, anywhere you want, even on the go.
The MT5 platform is renowned and recognized worldwidely for their advanced charting tools and robust functionalitiess such automated transaction execution.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Web, Windows, iOS, Android, Linux, MacOS | Experienced traders |
| MT4 | ❌ | Web, Windows, iOS, Android | Beginners |
bitcastle enables cllients to buy cryptos through bank transfer, credit card and cryptos through crypto wallet.
bitcastle does not charge fees for deposits, but trading and withdrawals are not free.
Trading fees range from 0-1%, based on the specific traded crypto currency pairs. While withdrawal fees, on the other hand, depend on both the coin and network you use.
For most updated details, you can visit https://bitcastle.io/en/fees?data=withdrawal-fees
Does bitcastleFX prevent you from withdrawing funds despite repeated requests? Do you face account bans after depositing into your bitcastleFX trading account? Facing high withdrawal fees? You are with a forex broker, which is called a ‘SCAMMER’ by many traders on several broker review platforms. In this article, we have shared multiple negative reviews about this broker.
One of the main advantages of using bitcastle, in my experience, is the wide range of tradable assets, including cryptocurrencies, forex, and commodities. The MT5 platform is another plus, offering advanced charting and trading tools. Additionally, the low minimum deposit requirement (JPY 500) makes it accessible for many traders, including myself.
bitcastle supports a variety of payment methods, including bank transfers, credit cards, and crypto payments through their proprietary crypto wallet. This flexibility is important to me, as I can choose the most convenient method for deposits and withdrawals. However, I would want more information on the exact withdrawal methods available.
The minimum deposit for the Standard account is JPY 500, which is relatively low and affordable for new traders like myself. However, the Pro account requires a higher deposit of JPY 30,000, which might be a bit high for some traders. In my bitcastle review, I would say that the Standard account is great for those who want to start trading with a smaller initial investment.
Since bitcastle operates without regulation, I’m hesitant to fully trust it. The lack of regulatory oversight raises red flags about the platform's adherence to financial standards. In my bitcastle review, I would recommend exercising caution and considering other more regulated platforms if safety is a top priority for you.
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Admin_th
Thailand
Can't withdraw money. The page is blocked, can't contact anymore. Don't use it. Scammm.
Exposure
fx55887744
Thailand
Unable to withdraw at all, support just spams emails. Trading is real but advertised a lot. However, when attempting to withdraw money, it's complicated.
Exposure
FX7917327802
Japan
The price difference is not significant, and the commitment is stable without any slip-ups, leaving a very good impression.
Positive
FX1825073414
Japan
They seem to be doing a wide variety of things, and their bonus programs are plentiful and interesting... but there are just too many rumors about withdrawal rejections💦 Has anyone actually managed to withdraw? The spreads are wide too, so it seems like a broker that’s hard to trade with... If you want to try them, maybe test withdrawals with a bonus first. I definitely don’t recommend depositing right away😅
Neutral
FX8823628920
Japan
You can also receive a 16,000 yen account opening bonus! Though the conditions might be a bit tough, haha.
Neutral