Most people who are familiar with cryptocurrency trading use spot markets with the intention of taking advantage of a good buying opportunity or sell their digital assets at an opportune time to maximize their profits.
TurboXBT expands the established paradigm of cryptocurrency trading by offering a system of synthetic short-term contracts that enables traders to make high-earning plays and to turn the market’s short-term volatility to their advantage.
Pros of TurboXBT
- Seamless user interface with an emphasis on simplicity and speed
- Up to 90% profit margin with flexible trade entry points and instantaneous orders
- Innovative system of synthetic short-term contracts
- No KYC required
Cons of TurboXBT
- A relatively modest selection of supported assets with only 4 cryptocurrency options
- Not available to residents of the US, Canada, Russia, and several other countries
TurboXBT features review
TurboXBT is a trading platform that supports 17 different assets and 38 trading pairs in total. By correctly predicting price movements in 30 seconds to 15 minutes long time intervals, TurboXBT users can earn up to 90% on each trade. While the interface is very visually appealing, it was designed with simplicity in mind, which means that it doesn’t get in the way so you can focus on the most important thing – making profitable trades. Let’s take a detailed look at the interface before diving deeper into the platform’s features.
Seamless user experience and lag-free trades
The interface is separated into two distinct zones. On the left side of the screen, you will find the Account statistics bar, which consists of six tabs that offer quick access to some of the most important features.
Here’s a quick summary of the six tabs located on the left side:
- Positions: list of your active trades.
- Trade History: list of your past trades.
- All Trades: trades made by other users on the platform.
- Leaderboard: a leaderboard showing the 15 most active traders on TurboXBT over the last day.
- Transfers: deposit and withdrawal options.
- Account: account preferences can be found here.
Occupying the center and right side of the main page is the so-called Prediction interface, where the trading chart and prediction parameters are displayed. From here, you can define your preferred duration and amount parameters before executing your contract using the UP or DOWN button.
The interface is a pleasure to use and easy to understand. TurboXBT provides clearly defined profit and risk expectations prior to positions being taken.
If you are not familiar with short-term trading, TurboXBT provides a 1000$ demo account, that requires no sign-in, and allows you to test out your trading strategy before diving into real money trades. To give the demo account a try, click here.
How to use synthetic short-term contracts?
Trading on TurboXBT couldn’t be made easier. In essence, you have to predict the price of a certain asset at the time of the expiration of your contract. If you think that an asset’s price will be lower after the expiration of your position, click on the DOWN button. If, on the other hand, you think that the price will increase, click on the UP button.
Depending on the selected instrument you can make up to 90% profit from a single trade. TurboXBT provides 5 different timeframes: 30 seconds, 1 minute, 5 minutes, 10 minutes and 15 minutes.
Let’s take a look at different position parameters and examine how trading works in the following examples.
What happens when I make a correct prediction?
First, we have to select a trading pair. In this case, we will use BTC/USD and make a trade predicting that the price will decrease in the next 30 seconds. We’ve selected an amount of 0.0001 BTC for this trade.
If the expected profit indicator is colored green it means that we stand to profit the said amount upon the contract expiration. In other words, if the price of BTC/USD will be lower than it was at the time we have executed the synthetic contract, then we will make a +90% profit or 0.00009 BTC from our prediction.
What happens when I make an incorrect prediction?
In our second example, we will show what happens when we make a prediction that turns out to be incorrect. Again, we have selected BTC/USD trading pair, staked 0.001 BTC on our prediction, and decided to set the duration at 30 seconds.
In contrast to before, the expected profit indicator has turned red, which means that we are currently expecting to lose funds when the contract runs its course. If that happens we are going to lose out 0.001 BTC investment. Do note, that a demo account was used for these examples.
As with every kind of financial investment, trading on TurboXBT is not risk-free. The company cautions customers to trade within their means:
“Trading on TurboXBT platform involves a significant level of risk and is not suitable and/or appropriate for all clients. You should never invest funds you cannot afford to lose.”
Which assets can be traded on TurboXBT?
TurboXBT supports a plethora of different assets, both in traditional markets as well as cryptocurrency options. The list of tradeable assets includes:
- Cryptocurrencies: Bitcoin, Ethereum
- Forex currencies: EUR, USD, AUD, JPY, NZD, GBP, CAD, CHF
- Commodities: Brent, Crude Oil, Gold, Silver
- Indices: Nasdaq, S&P500, GER30
In total, TurboXBT allows short-term traders to predict price movements of 17 different assets, spanning from Bitcoin to oil and financial indices. In total, the platform offers 38 trading pairs. The company is planning to add more instruments later on, depending on whether their liquidity becomes sufficient to facilitate short-term trades.
How to get your funds in and out of TurboXBT?
Before onboarding funds to TurboXBT, you first have to open an exchange account. The process takes only a couple of minutes, since TurboXBT doesn’t enforce know your customer (KYC) checks on your personal information.
At the moment, TurboXBT accepts four different types of deposit options, which are: Bitcoin, Ethereum, Tether and USD Coin. Both stablecoins options are accepted only in the ERC-20 variety. In order to deposit funds, you have to send them to a private Deposit Address, which is provided by TurboXBT.
Usually, BTC deposits take up to 40 minutes to clear, while ETH and stablecoins take only up to 4 minutes. There are no minimum or maximum deposit limits.
When you wish to make a withdrawal, you have to provide your external crypto wallet address. Once your address is whitelisted via the PIN that is sent to you via email, it can then be used for future withdrawals without additional confirmations.
Do note that any withdrawal requested after 12:00 UTC will be processed on the next day.
While TurboXBT charges no commissions for trades, deposits, and withdrawals, additional costs can be accrued due to blockchain network fees, which are wholly dependent on network bottlenecks.
Trade when on the go with TurboXBT
While TurboXBT doesn’t offer dedicated apps for iOS and Android platforms as of right now, the lighter and streamlined mobile version of the platform was designed with smaller screens of mobile devices in mind.
You can access every feature from the mobile browser, however, using a larger screen and a stable broadband internet connection is advised, especially when trading on shorter timeframes.
TurboXBT provides a secure and stable trading experience
TurboXBT prides itself on ensuring a 99.9% uptime, which is absolutely crucial for a short-term trading platform. While the exchange doesn’t require a KYC, it nevertheless provides bank-grade security and employs extensive security measures to safeguard all user’s funds.
TurboXBT is licensed and AML-compliant in order to reduce the risk of criminal financial activity from taking place on the platform and potentially endangering the safety of users’ funds.
While residents of most counties can access the exchange, citizens of several nations are not permitted to engage in trading activities on TurboXBT. An up-to-date list of restricted countries can be found at the bottom of the homepage, under the “Regional and other client restrictions” section.
Customer support and social media
If you have any questions or are unsure about how certain features work, you can head to the so-called Knowledge Base section, which houses all of the most frequently asked questions (FAQ), the quick start guide, and more. You can also take advantage of live support customer service, which is live 24/7 and usually takes under 5 minutes to answer any inquiries.
TurboXBT is present on all of the most popular social media platforms, where the team regularly shares news of upcoming events and features rollouts.
TurboXBT’s social media channels: Twitter, Telegram, Facebook, YouTube, Medium.
Bottom line
TurboXBT offers a great trading experience for those who are looking to expand their trading beyond the confines of spot markets and wish to partake in the higher-earning potential of short-term trading.
The platform is very easy to navigate, has a transparent payout structure, and provides a very useful demo feature, which is perfect for those who lack experience in short-term trading. The overall suite of features will satisfy the needs of experienced investors and beginners alike.
