Best Bitwallet Brokers 2023
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.
Bitwallet Brokers
These are the 4 best brokers that accept Bitwallet deposits and withdrawals:
#1 - SuperForex
SuperForex is an European-based forex and derivatives broker with currency pairs, commodities, cryptos, stocks and indices. The online broker also offers welcome bonuses and trading contests.
- Instruments: CFD, Forex, Stocks, Crypto, Commodities
- Regulator: IFSC
- Platforms: MT4
- Min. Deposit: $1
- Min. Trade: 0.01 lots
- Leverage: 1:3000
Payment Methods
SuperForex accepts these 12 payment methods for deposits and withdrawals:
- Bitcoin Payments
- Bitwallet
- Credit Card
- FasaPay
- Flutterwave
- Mastercard
- Neteller
- Perfect Money
- Skrill
- Sticpay
- Visa
- Wire Transfer
CFD Trading
Use leveraged contracts for difference to speculate on a long list of assets
Forex Trading
Take positions on an extensive list of currency pairs via the MT4 platform
Stocks Trading
Trade shares in major names from a range of countries and industries, including US technology stocks
Crypto Trading
Trade major cryptocurrencies against the USD using a choice of pricing models
Pros
- Low minimum deposit
- Welcome bonus
- Multiple account currencies
Cons
- Weak regulation
#2 - RockGlobal
RockGlobal is a New Zealand based and regulated CFD broker. They offer competitive spreads from 0.1 pips and a large range of assets, trading platforms and educational services, with up to 1:500 leverage. Operating in a Tier 1 regulated environment, RockGlobal offers peace of mind and excellent customer support. All client funds are held in segregated Trust accounts. Join a large community of active traders and get a 30% First Deposit Bonus!
RockGlobal is a great option for short-term CFD traders with low fees. The brand will also suit longer-term investors interested in buying shares with discounted rates.
- DayTrading Review Team
- Instruments: CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator: FSP, FMA
- Platforms: MT4
- Min. Deposit: $200
- Min. Trade: 0.01 lots
- Leverage: 1:500
Payment Methods
RockGlobal accepts these 7 payment methods for deposits and withdrawals:
- Bitwallet
- Credit Card
- Debit Card
- Mastercard
- POLi
- Visa
- Wire Transfer
CFD Trading
RockGlobal clients can trade a range of CFDs with high leverage rates, covering crypto, forex, commodity and international equity markets.
Forex Trading
RockGlobal offers competitive pricing on a wide range of major, minor and exotic currency pairs through MT4 and TWS.
Stocks Trading
RockGlobal offers thousands of shares and ETFs spanning Asia-Pacific, North America and Europe with transparent pricing.
Crypto Trading
RockGlobal offers popular cryptos including Bitcoin against the USD through its MT4 accounts.
Pros
- High-quality trading platforms with MetaTrader 4 (MT4) and Trader Workstation (TWS)
- STP/ECN model with fast execution and deep liquidity
- Direct stock trading
Cons
- Payment methods are limited compared to other brokers
- $20 inactivity fee
- Fees for overseas withdrawals
#3 - JustMarkets
With ultra-low spreads, copy trading services, MetaTrader tools and 260+ trading instruments, JustMarkets has a lot to offer new clients.
- Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures
- Regulator: CySEC, FSA, VFSC
- Platforms: MT4, MT5
- Min. Deposit: $1
- Min. Trade: 0.01 lots
- Leverage: 1:3000
Payment Methods
JustMarkets accepts these 14 payment methods for deposits and withdrawals:
- Airtm
- Alipay
- Bitcoin Payments
- Bitwallet
- Boleto
- Credit Card
- Debit Card
- Ethereum Payments
- FasaPay
- Mastercard
- Perfect Money
- Sticpay
- Visa
- Wire Transfer
CFD Trading
Start investing in the financial markets with flexible contracts for difference with spreads from 0.0 pips.
Forex Trading
Leveraged forex trading available across multiple accounts with spreads from 0.0 pips.
Stocks Trading
Trade 65 global stocks at JustMarkets with tight spreads and high leverage.
Crypto Trading
JustMarkets offers popular crypto coins with zero-pip spreads.
#4 - PU Prime
Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
- Instruments: Forex, Commodities, Cryptocurrencies, Stocks, Indices
- Regulator: Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (SFSA)
- Platforms: MT4, MT5
- Min. Deposit: $50
- Min. Trade: 0.01 lots
- Leverage: 1:500
Payment Methods
PU Prime accepts these 9 payment methods for deposits and withdrawals:
- AstroPay
- Bitwallet
- Credit Card
- Debit Card
- FasaPay
- Mastercard
- UnionPay
- Visa
- Wire Transfer
CFD Trading
Trade CFDs on stocks, indices and commodities.
Forex Trading
Pacific Union offers 30+ currency pairs, including majors such as EUR/USD and USD/JPY
Stocks Trading
Pacific Union offers CFDs on shares from some of the world’s top companies, including Amazon, VISA, Tesla, and IBM
Crypto Trading
Pacific Union offers leveraged cryptocurrency trading against the US Dollar.
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, 1 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:
- Basic – Provide ID selfie verification and proof of address and activate two-factor authentication to unlock the basic account tier. This allows a maximum of $25,000 worth of transactions at the basic rate.
- Pro – Making at least 10 transactions in a year to a total value of $10,000 or more will activate the second tier, which offers a 25% discount on fees on transfers up to a maximum limit of $50,000 per month.
- Unlimited – Access the unlimited account by completing at least 30 transactions in a year worth $30,000 or more, also unlocking a 50% discount on fees.
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:
- Segregated client funds
- High-level encryption with SSL and SSL-VPN certificates
- Firewall network security
- IP Anycast system to protect from DDoS attacks
- Database encryption
- Network intrusion detection system
- Strong client-focussed security features including 2-factor authentication, IP whitelisting and monitoring login history
- Withdrawal bank account confirmation
Pros Of Bitwallet For Online Trading
- Real-time transfers allow for faster access to online trading
- API makes it easy to transact with brokers that accept Bitwallet deposits
- Reasonably priced OneCoin feature
- Four base currencies
- Good security
Cons Of Bitwallet For Online Trading
- No cryptocurrency support
- Expensive card deposits and other charges
- Cheaper currency conversion is available elsewhere
- A relatively limited number of brokers accept Bitwallet
- Unlocking higher tiers and cheaper rates requires a large number of transactions so will only suit high-volume traders
How To Make Transfers To Bitwallet Brokers
The process for making deposits and withdrawals may vary between different brokers that accept Bitwallet, but will usually follow the same basic steps:
Making A Deposit
- Navigate to your Bitwallet broker’s ‘Cashier’ or ‘Payments’ page
- Select ‘deposit’ and enter the amount you wish to add
- Select ‘Bitwallet’ as the payment method
- Enter your details in the pop-up window to activate your Bitwallet account
- 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 A Good Choice For Traders?
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.
FAQ
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, Rockfort Markets, 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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