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Bitwallet Brokers 2024

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Edited By
James Barra
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Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
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Fact Checked By
Tobias Robinson
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Fact Checked By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Updated
Oct 2, 2024

Bitwallet is a digital wallet that allows traders to deposit, withdraw and convert four fiat currencies and make instant payments to brokers. It is popular thanks to the convenience of transfers through its electronic wallet or API and its up-to-date security measures.

This tutorial ranks the best brokers that accept Bitwallet deposits. Our team also explain how traders can use the payment method to fund their accounts with Bitwallet brokers.

Best Bitwallet Brokers

Our extensive tests have revealed the following 6 brokers that accept Bitwallet deposits:

Click a broker for details
  1. 1
    Vantage
    50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
    Ratings
    4.6 / 5
    4.5 / 5
    4.5 / 5
    4.4 / 5
    4.3 / 5
    4.4 / 5
    4 / 5
    4 / 5
    3.6 / 5
    3.9 / 5
    $50
    0.01 Lots
    1:500
    FCA, ASIC, FSCA, VFSC
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
    ProTrader, MT4, MT5, TradingView, DupliTrade
    Skrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPay, Sticpay, Bitwallet, Volet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
    Go To Vantage
  2. 2
    FBS
    Ratings
    4.3 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    3.5 / 5
    3.8 / 5
    3.8 / 5
    3.5 / 5
    4.6 / 5
    4.9 / 5
    $5
    0.01 Lots
    1:30 (EU & Restricted Countries), 1:3000 (Global)
    ASIC, CySEC, FSC
    CFDs, Forex, Indices, Shares, Commodities
    FBS App, MT4, MT5
    Visa, Neteller, Skrill, Wire Transfer, Rapid Transfer, Mastercard, Credit Card, AstroPay, Maestro, Debit Card, Doku Wallet, FasaPay, Perfect Money, Sticpay, M-Pesa, JCB Card, Bitwallet, PIX Payment
    USD, EUR
    Go To FBS
  3. 3
    M4Markets
    50% deposit bonus up to $10,000
    Ratings
    3 / 5
    3.5 / 5
    3 / 5
    3 / 5
    3.3 / 5
    3.5 / 5
    3.5 / 5
    3.5 / 5
    0 / 5
    0 / 5
    $5
    0.01 Lots
    1:1000
    FSA, CySEC
    Forex, CFDs, Indices, Shares, Commodities, Cryptos
    MT4, MT5
    FasaPay, Skrill, Neteller, UnionPay, Wire Transfer, PayRedeem, Perfect Money, Visa, Mastercard, Bitwallet, Sticpay
    USD, EUR, GBP, JPY, ZAR
    Go To M4Markets
  4. 4
    FXGT
    Tiered Loyalty Bonus
    Ratings
    3.5 / 5
    3.3 / 5
    2.8 / 5
    3.3 / 5
    3.5 / 5
    3.3 / 5
    2.8 / 5
    2.5 / 5
    4.8 / 5
    4.4 / 5
    $5
    0.01 Lots
    1:1000
    FSCA, VFSC, FSA
    CFDs on Forex, Stocks, Indices, Metals, Energies
    FXGT App, FXGT.com Trader, MT4, MT5
    Visa, JCB Card, Mastercard, Sticpay, Wire Transfer, Bitwallet
    USD, EUR, JPY
    Go To FXGT
  5. 5
    TopFX
    100% Universal Bonus T&Cs Apply
    Ratings
    3 / 5
    3 / 5
    3 / 5
    4 / 5
    3 / 5
    3.5 / 5
    3.5 / 5
    0.5 / 5
    0 / 5
    0 / 5
    $50
    0.01 Lots
    1:500
    CySEC, FSA
    CFDs, Forex, Shares, Indices, Metals, Energies, ETFs, Cryptocurrency
    MT4, cTrader, AutoChartist, TradingCentral
    Visa, Mastercard, Debit Card, Credit Card, Wire Transfer, Swift, Apple Pay, Google Wallet, Skrill, Neteller, Bitcoin Payments, Ethereum Payments, Perfect Money, Dragonpay, M-Pesa, FasaPay, PIX Payment, Sticpay, Bitwallet, Przelewy24, Sofort, iDeal
    USD, EUR, GBP
    Go To TopFX
  6. 6
    PU Prime
    $50 No Deposit Bonus
    Ratings
    2.5 / 5
    3.9 / 5
    3.5 / 5
    3.5 / 5
    3.8 / 5
    3.8 / 5
    4 / 5
    4 / 5
    0 / 5
    0 / 5
    $50
    0.01 Lots
    1:500
    FSA (Financial Services Authority of Seychelles), FSCA (Financial Sector Conduct Authority), SVGFSA (Financial Services Authority St Vincent & The Grenadines)
    Forex, Commodities, Cryptocurrencies, Stocks, Indices
    MT4, MT5
    UnionPay, FasaPay, Wire Transfer, Credit Card, Visa, Mastercard, Debit Card, AstroPay, Bitwallet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD
    Go To PU Prime

Here is a short summary of why we think each broker belongs in this top list:

  1. Vantage - Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
  2. FBS - Founded in 2009, FBS is an award-winning CFD broker operating in over 150 countries with a client base exceeding 27 million traders. Traders are supported at every stage of their journey with 24/7 assistance, market analytics, trading calculators, and competitive pricing with zero commissions.
  3. M4Markets - M4Markets is an award-winning broker regulated by the CySEC, FSA and DFSA. Although relatively new, the broker continues to improve its offering with a range of innovative tools, platforms and accounts. Beginners can start with just $5, whilst experienced investors can access leverage up to 1:5000.
  4. FXGT - FXGT is an offshore broker offering leveraged CFD trading on the MT4, MT5 and FXGT.com Trader platforms. The broker is regulated by the FSCA and the VFSC and offers segregated accounts and negative balance protection for global clients.
  5. TopFX - TopFX, a Cyprus-headquartered company, has been an instrumental player in the financial services industry since its establishment in 2010, earning a solid reputation as a reliable broker for active traders. Initially, the company offered liquidity services to institutional clients, including hedge funds, banks, and brokers. However over the years, TopFX has grown to include retail traders in its clientele. It was one of the first brokers in the world to offer cTrader, a testament to its commitment to innovation.
  6. PU Prime - Pacific Union Prime is an FSCA and offshore-regulated multi-asset broker offering competitive fees and direct market access on forex, commodities, stocks, bonds and indices. The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms and a proprietary mobile app. Fees vary by account type with no commission and spreads from 1.9 pips on the Standard account and $7 commission per lot and spreads from 0.4 pips on the Prime account.

Bitwallet Brokers Comparison

Bitwallet Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage
Vantage logo
$50 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds ProTrader, MT4, MT5, TradingView, DupliTrade 1:500
FBS logo
$5 CFDs, Forex, Indices, Shares, Commodities FBS App, MT4, MT5 1:30 (EU & Restricted Countries), 1:3000 (Global)
M4Markets logo
$5 Forex, CFDs, Indices, Shares, Commodities, Cryptos MT4, MT5 1:1000
FXGT logo
$5 CFDs on Forex, Stocks, Indices, Metals, Energies FXGT App, FXGT.com Trader, MT4, MT5 1:1000
TopFX logo
$50 CFDs, Forex, Shares, Indices, Metals, Energies, ETFs, Cryptocurrency MT4, cTrader, AutoChartist, TradingCentral 1:500
PU Prime logo
$50 Forex, Commodities, Cryptocurrencies, Stocks, Indices MT4, MT5 1:500

Vantage

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

Jemma Grist, Reviewer

Vantage Quick Facts

Bonus Offer50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
RegulatorFCA, ASIC, FSCA, VFSC
PlatformsProTrader, MT4, MT5, TradingView, DupliTrade
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN

Pros

  • There are no short-term strategy restrictions with hedging and scalping permitted
  • There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
  • The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders

Cons

  • A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
  • Unfortunately, cryptos are only available for Australian clients
Visit Vantage
Vantage Review

FBS

"FBS is an excellent choice for day traders at every level and budget, with just a $5 minimum deposit and intensive academy for aspiring traders alongside access to MT4, MT5 and highly leveraged trading opportunities up to 1:3000 for experienced traders."

Christian Harris, Reviewer

FBS Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Indices, Shares, Commodities
RegulatorASIC, CySEC, FSC
PlatformsFBS App, MT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:30 (EU & Restricted Countries), 1:3000 (Global)
Account CurrenciesUSD, EUR

Pros

  • FBS strikes the balance between robust features and ease of use, with a sign-up process taking <10 minutes, an intuitive app, advanced research through Market Analytics & more recently VIP Analytics, plus immersive education through the FBS Academy and Trader’s Blog.
  • FBS offers lightning-fast execution speeds from just 10 milliseconds, placing it among the industry leaders for highly active traders like scalpers who demand rapid order processing.
  • 24/7 customer support that performed excellently during testing is available, alongside a $5 minimum deposit, high leverage options, and a huge variety of 200+ funding options, making it ideal for traders with small accounts.

Cons

  • There are only two base currencies available - EUR and USD - which isn't practical for minimizing currency conversion fees for many global traders, and is especially striking given the broker’s user base spans over 150 nations.
  • Although the FBS app offers a terrific mobile trading experience for aspiring traders and MT4/MT5 cater to advanced traders, the absence of cTrader and TradingView, which are increasingly offered by alternatives like Pepperstone, will deter day traders familiar with these platforms.
  • Investor protection is only available for clients within the EU, meaning global traders may not be protected if their account goes negative, significantly increasing the risk to your funds.
Visit FBS
FBS Review

M4Markets

"M4Markets will serve active investors looking for highly leveraged trading on powerful third-party platforms. Other investment opportunities are also available, including copy trading and MAM/PAMM accounts."

William Berg, Reviewer

M4Markets Quick Facts

Bonus Offer50% deposit bonus up to $10,000
Demo AccountYes
InstrumentsForex, CFDs, Indices, Shares, Commodities, Cryptos
RegulatorFSA, CySEC
PlatformsMT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, JPY, ZAR

Pros

  • Execution speeds are fast, averaging 30 ms (we consider anything below 100 ms as fast and suitable for active day traders)
  • M4Markets is a low-cost broker, offering spreads from 0.0 pips and $0 commissions, plus an accessible $5 minimum deposit
  • Reliable 24/5 customer support is available in 10 languages via live chat, telephone and email

Cons

  • The educational resources trail the best brokers with only a small selection of eBooks and webinars offered
  • M4Markets doesn't offer any rebate schemes or rewards for active traders
  • The range of around 200 investments is slim compared to top brokers, who typically offer over 1000
Visit M4Markets
M4Markets Review

FXGT

"FXGT is a good choice for clients looking to execute short-term strategies including scalping, hedging, netting and automated trading. The $5 minimum deposit makes it easy to get started and there's a range of account types for beginners and pro traders."

Tobias Robinson, Reviewer

FXGT Quick Facts

Bonus OfferTiered Loyalty Bonus
Demo AccountYes
InstrumentsCFDs on Forex, Stocks, Indices, Metals, Energies
RegulatorFSCA, VFSC, FSA
PlatformsFXGT App, FXGT.com Trader, MT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, JPY

Pros

  • Negative balance protection is available for global traders prevent accounts falling below zero
  • Beginners will appreciate the low $5 minimum deposit across all account types and excellent range of funding options
  • FXGT's sponsored VPS is fully integrated into MT5 and offers 3GB RAM and 16GB disk space

Cons

  • FXGT still needs to step up its educational resources if it's going to compete with the best brokers for beginners
  • There is limited market research beyond Trading Central insights to inform trading decisions
  • FXGT holds weak offshore regulatory licenses, notably the VFSC and FSA, a drawback compared to the safest brokers
Visit FXGT
FXGT Review

TopFX

"TopFX is a strong choice for day trading due to ultra-low latency with execution times under 25 milliseconds. It also offers access to advanced charting platforms, MT4 and cTrader, with tight spreads and low commissions that can significantly reduce costs for active traders."

Christian Harris, Reviewer

TopFX Quick Facts

Bonus Offer100% Universal Bonus T&Cs Apply
Demo AccountYes
InstrumentsCFDs, Forex, Shares, Indices, Metals, Energies, ETFs, Cryptocurrency
RegulatorCySEC, FSA
PlatformsMT4, cTrader, AutoChartist, TradingCentral
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP

Pros

  • Active traders get reliable trade execution with speeds under 25ms, combined with consistent pricing, no slippage or requotes, and fast deposits and withdrawals during testing.
  • TopFX continues to deliver first-class support following years of real-money trading with responses on live chat in minutes and email replies in 24 hours for technical assistance.
  • TopFX is committed to supporting a diverse range of day traders, including those who prefer manual, algorithmic, and strategy-based trading with a choice of three flexible accounts (Zero, Raw and VIP).

Cons

  • Although it produces in-house market analysis content, notably the Daily Market Digest, and includes Autochartist and Trading Central, the woeful educational offering is limiting for beginners, especially compared to category leaders like XTB.
  • Despite a growing selection of 600+ instruments, you can't invest directly in real assets, such as stocks, ETFs, and crypto, and TopFX does not offer interest on uninvested cash like alternatives such as IBKR.
  • TopFX supports only two platforms (cTrader and MT4), so there's no option to trade with MT5 or the increasingly popular TradingView. The lack of a proprietary platform for beginner traders is also an entry barrier.
Visit TopFX
TopFX Review

PU Prime

"PU Prime will appeal to traders seeking high leverage and low fees in a direct-to-market trading environment."

Tobias Robinson, Reviewer

PU Prime Quick Facts

Bonus Offer$50 No Deposit Bonus
Demo AccountYes
InstrumentsForex, Commodities, Cryptocurrencies, Stocks, Indices
RegulatorFSA (Financial Services Authority of Seychelles), FSCA (Financial Sector Conduct Authority), SVGFSA (Financial Services Authority St Vincent & The Grenadines)
PlatformsMT4, MT5
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD

Pros

  • Swap-free Islamic account
  • PU Social app with copy trading capabilities
  • Multilingual customer service

Cons

  • Relatively high $40 minimum withdrawal and handling fee for withdrawals under $100
  • Standard account spreads are mediocre
  • No tier 1 regulatory oversight
Visit PU Prime
PU Prime Review

How Did We Choose The Best Bitwallet Brokers?

To identify the top Bitwallet brokers we:

  • Searched our directory of 500 online brokers, focusing on all those accepting Bitwallet payments
  • Confirmed that they support Bitwallet deposits for online trading
  • Ranked them by their overall rating, combining 100+ data points with our hands-on insights

What Is Bitwallet?

Bitwallet is an online payment solutions company founded in 2012 that serves individual clients, merchants and businesses with its digital wallet and credit card payment products.

Retail traders who want to use this payment method will open and fund a digital wallet account, and merchants or brokers that accept Bitwallet deposits can integrate the company’s API to accept seamless transfers.

Today, the firm mainly serves clients from Asian regions near its headquarters in Singapore, but it accepts users from all over the world. Judging by the number of Bitwallet brokers and businesses, it has gained significant traction in the online payment sector.

Importantly, the brand should not be confused with the US crypto payments company with the same name – and note that Bitwallet of Singapore has not integrated any crypto payments into its platform.

How It Works

Like most e-wallets, Bitwallet is quick, straightforward and intuitive so traders should have no problem funding their online brokerage accounts.

Since this company offers merchants an integrated API as well as a credit card processing product, all traders need to do is open and fund their accounts and they should be able to seamlessly transact with any broker that accepts Bitwallet deposits.

Account holders have a choice of four currencies – Euros, US Dollars, Australian Dollars and Japanese Yen – and they can convert between these currencies directly through their digital wallet.

Our experts found this to be a useful feature though the rate we were offered was not particularly competitive. A specialist service like TransferWise could be more economical.

Another useful feature is the ability to send remittances to other account holders using the company’s OneCoin payment solution, which charges the sender a flat fee of 1 USD, 1 EUR, 100 JPY or 1 AUD per transfer. We found this to be a useful and affordable addition to the brand’s offering that will attract traders who need to make cross-border transfers.

Accounts

To open a Bitwallet account, navigate to the official homepage and click ‘create account’. Simply entering your email address and country of residence is enough to open a trial account, though this cannot be used to make any transactions.

The rest of the registration process involves entering more detailed information and submitting documentation, and the whole process can be completed in as little as 30 minutes.

Providing the necessary ID verification documents and making a sufficient volume of transactions on the service will unlock the Basic, Pro and Unlimited tiers:

Funding Methods

You can add funds to your Bitwallet account with either a debit/credit card or through a bank transfer.

For fast payments, we recommend card transactions which process within minutes. Bank transfers will usually take longer.

Transaction Times

As an e-wallet, it provides real-time transactions that should process nearly instantly. This means you can expect deposits to land in a Bitwallet brokerage account very quickly, though withdrawals will often take longer due to processing timelines at trading brokers.

Check with the specific Bitwallet broker for more information on deposit and withdrawal times.

Withdrawing funds from Bitwallet to your bank account should take less than one business day.

Fees

Bitwallet’s fees depend on the type of transaction. However, our experts found the fees to be on the high side and felt there are more affordable payment methods out there.

The good news is that bank transfer deposits are completely free and there is no subscription, account maintenance or any other secondary charges.

The bad news is that card deposits from a basic account will be subject to a high 8% charge.

Withdrawals will also be hit with a charge amounting to 10 USD, 10 EUR, 10 AUD or 1000 JPY depending on the currency withdrawn.

Finally, each use of the OneCoin payment transfer feature will incur a 1 USD, 1 EUR, 1 AUD or 100 JPY charge.

While holders of a premium or limitless account will receive 25% and 50% discounts, respectively, even 4% is high for a card deposit.

Moreover, the exchange rate offered to switch between currencies is also steep.

Security

We were impressed by the security measures implemented by Bitwallet and the care the company takes to lay these out in detail.

Security measures include:

Pros Of Bitwallet For Online Trading

Cons Of Bitwallet For Online Trading

How To Deposit Using Bitwallet

The process for making deposits and withdrawals may vary between different brokers that accept Bitwallet, but will usually follow the same basic steps.

Below are specific steps that you would need to follow at DNA Markets, for example:

Making A Deposit

  1. Navigate to the Deposits & Withdrawals page from your dashboard
  2. Select ‘Bitwallet’ from the list of deposit options and enter the amount
  3. Enter your details in the pop-up window to activate your Bitwallet account
  4. Confirm the payment

Most of the time, making a withdrawal from a broker that supports Bitwallet transfers will follow similar steps to your deposit.

Check your Bitwallet broker’s website for withdrawal processing times as these are sometimes significantly longer than deposits.

Is Bitwallet Good For Day Trading?

All in all, Bitwallet is a slick and reliable service offering speedy transactions for traders who use USD, AUD, JPY or EUR.

The fees are on the high side, and traders will need to make a significant amount of transactions to access the higher tier (and cheaper) accounts, but nevertheless, this payment method has several advantages and is worth considering. There is also a reasonable list of respected brokers that accept Bitwallet deposits.

FAQs

Is It Safe To Deposit To A Trading Broker With Bitwallet?

Bitwallet is a well-known brand that uses some impressive security features, including high-quality encryption and client fund segregation. This means it should be a relatively safe payment method, provided that you are careful with your personal details. With that said, always ensure you are transacting with a broker you can trust.

Does Bitwallet Facilitate Crypto Payments To Trading Brokers?

The Singapore payment solution company Bitwallet does not accept or facilitate any payments in cryptocurrencies at all. There is a US company, BitWallet, that specializes in this type of payment, so be sure to check that you have the right company when you sign up.

Is Bitwallet A Legitimate Payment Method For Online Trading?

Bitwallet is a legitimate e-wallet payment method that has been in business since 2012 and employs some strong security measures. You should be able to quickly, safely and easily make deposits and withdrawals to and from a Bitwallet broker’s account using this service.

Which Brokers Accept Bitwallet?

Bitwallet is not the most widely accepted payment method, but its coverage is not bad by any means. The best Bitwallet brokers include SuperForex and PU Prime.

Are Deposits To Bitwallet Brokers Cheap?

Bitwallet’s card deposits are high at 8% for the basic account type, and the $10 or equivalent charge for withdrawals can be quite constricting, particularly if your Bitwallet broker also charges a withdrawal fee. Fortunately, it doesn’t cost anything to deposit to your Bitwallet e-wallet using a bank transfer.

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