The best crypto trading platform for No Nonsense Forex traders must hit a very particular set of criteria.
We finally found one.
Why Not Sooner?
I think I’ve been approached by the majority of crypto platforms in the past two years.
This was not something I wanted to rush into. Crypto in the form that we view it in now is still very new, and a lot of big mistakes were still yet to me made. I wanted most of this to play out first.
Things have normalized nicely in the platform market. The bad actors have (mostly) faded away, and the better platforms have tons of liquidity now.
But there are still things about crypto trading platforms that I personally don’t like, and I don’t think my followers would like either. Flashing numbers while you’re trying to trade, complete lack of privacy, and no way to trade directly from our charts if we’re using the MT4 trading platform we’ve grown to love here.
There is only one platform that pulls from the best aspects of centralized and decentralized, gives you a nice clean experience so you can actually concentrate, and has now incorporated MT4 for the NNFX traders who want to use it. Thankfully, they’re one of the larger brokers out there with tons of liquidity and a safe jurisdiction to boot.
It’s ByBit.
Reasons Why
ByBit was right at the top of my list the entire time, but then they added something. And I felt like they added it just for me (unlikely).
When it comes to fees, ease of deposit (Crypto deposit only. Very slick. Very efficient.), ease of use, etc, ByBit competes right up there with the best of them.
But there are separators. Separators that vault them to my #1 spot and make them my top recommendation for NNFX traders.
You can watch the video below, or simply keep reading. I will mention them here.
Safety
I’m adding this part in light of the FTX debacle. No exchanges are completely safe, ever. We all know not to keep our crypto on exchanges, but if you’re trading, you don’t have a choice. All I can do is provide the links below and show ByBit’s commitment to safety and solvency.
Then you can decide for yourself.
Best of CEX and DEX
Being completely centralized means anyone who wants to come after you easily can. This is normally not a big deal because I will assume you’re not a criminal. But not only does it go against the spirit of crypto itself, we’ve seen recently how governments (Your own, and unfriendly governments) can shut it all down at any time.
Not to mention some people, heaven forbid, enjoy a bit of privacy in their lives.
Now ByBit is centralized to where it has a central headquarters, located in Singapore, licensed and all. This is important when you’re trading.
If you were 100% decentralized, you would rarely if ever be able to get help when you needed it, and there’s almost nothing preventing them from rugging and taking all of your money when the time is right. We’ve already seen this in DeFi.
Here are some of the newer DeFi aspects they’re rolling out.
1) Disclosing Bybit main users asset wallets (excluding other assets and non consolidated wallets are too many to list ~+20%). Around $1.9B. Bybit is also working on POR solutions such as Merkel Tree on UID level. https://t.co/fAszQVKNJF
— Ben Zhou (@benbybit) November 16, 2022
Customer Service
While we’re on the subject, you guys know how important customer service is to me, and it turns out my followers valued it as much as I did, which is refreshing.
There was much of this I could not test myself, for reasons I’ll explain in a moment, so I gathered up a handful of people from the NNFX Discord Forum to test everything out.
I had them all find a reason to get a hold of customer service, and ByBit passed with very high marks. They are not fully centralized, like a Forex platform, so you may not get the lighting fast response like you would with IG or white-glove treatment like you would with Blueberry, but for a crypto platform, everyone was very impressed.
Singapore is a native English speaking country, so there will no issues with outsourced CS, like many companies STILL do! Other available languages you can access are
Covert Ops
Unless you’re taking part in some of their programs like becoming one of their copied traders, etc, ByBit has no KYC.
KYC = Know Your Customer = You have to fill a bunch of stuff out and tell them who you are so they can track you if they want (or if somebody else wants to).
Just give them a good email address, deposit and go.
This is where the decentralized part comes in. Come in, do your trading, we’ll leave you alone.
It’s the best of centralized and the best of decentralized. You don’t have to sacrifice anything, anywhere.
Serenity Now!
You may have noticed at some point that my blogs don’t have ads. My whole site doesn’t have ads.
Do I hate money? No, I love money. But I hate annoying, distracting, blinking-ass ads and pop-ups more than I love money. No bullshit.
So I passed on the money to make a better experience where people could learn easier.
I have ADD pretty bad, and I can’t do much of anything if I’m distracted.
One of the things I noticed with just about every single crypto trading platform out there is how there were flashing, blinking NEEDLESS crap everywhere, and I could not turn them off.
Ads, bots, offers, NFT drops, bonuses that don’t apply to me, make my blood boil every time I see one, and I can on longer trade, because I’m too busy thinking about how mad I am that somebody had the gall to shove this stuff in my face while I’m trying to do what I do.
I was really happy to see several of my testers also notice the clean, unobtrusive nature of ByBit compared to the other places they trade. One of them even said he was making the switch, and this was a big factor.
And I know we’re not alone here. I get compliments all the time on my site having no ads. People are trying to learn, so I keep it clean. People are trying to make money, so ByBit keeps things clean for you as well.
ByBit does have price quotes off to the side of the charts, but you can drag them down or minimize them if you don’t want them there.
This quick-access stuff here. Some people love it. Not me.
But a lot of what you see and don’t see on the main screen, for many of you, is not going to matter.
Because we are now to the part that put ByBit over the top for me.
They Have MT4!
You can trade directly through MT4 through ByBit!
Take your algo, all of your killer indicators, your EAs, and run them right there on ByBit when you do your crypto trading.
For some of you, this is not important because you use TradingView or MT5. This is fine. You can still use ByBit to make your entries/exits/stops/etc, no problem.
But if you are comfortable doing your trading on MT4, you can now do it here.
As I write this, there are only 6 pairs you can trade on MT4 (BTC/USDT, ETH/USDT, XRP/USDT, SAND/USDT BNB/USDT, LUNA/USDT, BIT.USDT).
That’s actually a lot if you add on everything else we trade, but if you feel like it’s lacking, don’t worry, they’re adding more as they go. MT4 trading on ByBit is still new.
And there’s like a million pairs on ByBit’s main platform. My testers were trading shit like Helium and Ravencoin on there.
My ByBit contact, who I turned down in the past because I just wasn’t ready to promote a crypto platform yet, came at me a year later with the MT4 option in his hand and said “How about now”?
I couldn’t resist. I liked it before, I really like it now.
Essential Info
You can buy your crypto directly from ByBit’s spot market. A lot of great options, including XRP!
ByBit is an “A Book”, meaning they do not trade against their clients.
All deposits must be in crypto, things being decentralized and all.
You can trade directly on ByBit’s platform, or directly from MT4.
ByBit’s platform shows Trading View charts, but unfortunately you cannot put your own indicators on them, unlike MT4.
MT4 Pairs currently available can be found HERE.
All instructional videos can be found HERE.
I actually like this method better. Kind of like my blogs. Video is often included, but more written out and easy to follow. Instructions on setting up the MT4 can be found here as well. Go HERE
Banned countries/regions can be found HERE
You will notice the US, Singapore and Quebec on that list. Repeat — Americans are not supposed to be trading here. If I had to guess, I would still say there are lots of traders from those areas who trade on ByBit anyway, but that’s a choice they’ve made, and we don’t endorse it, but it happens a lot anyway.
Customer Service languages include:
English
Spanish
Russian
Thai
Vietnamese
Chinese
Japanese
Korean
Turkish
What You Get With My Link
You’ll get a lot of different promotions, airdrops, contests, and bonuses along the way. They do change every month, so stay up on them via the website to catch them all.
NNFX Trading Contest
The World Series of Trading is an event hosted by ByBit, and it’s happening in August. Learn all about it and register HERE.
Airdrops
For the entire month of May, 20 of my traders who trade more than $10K in volume are eligible for a $50 USDT airdrop. These will be distributed in mid June, so check your rewards portal to see if you got one.
There is also a May promotion on perpetuals, very interesting, and the prizes are big, check it out HERE.
Your Link
GO HERE and get started.
All the best.
— VP
Never overleverage into any position or platform. Anything can happen. No Nonsense Forex is not responsible for any wins or losses. That’s all on you.