TurboXBT Review – Short Term Contract Trading

TurboXBT is a new type of cryptocurrency exchange where traders pick an asset and hit ‘up’ or ‘down’ if they think the price will rise or dip over a short duration.

They’re then issued winnings if they were right – up to 90% profit is possible in a single trade. TurboXBT’s mission statement is to bring that high earning potential to new and and professional traders alike.

There are many ways of making money trading cryptocurrency, including just holding Bitcoin, going long with leverage, or staking. TurboXBT is a next generation option for traders wanting to maximize gains.

Short Term Contract Trading

What the TurboXBT platform offers is known as short term contract trading, with synthetic digital assets – there’s no need to own any of the underlying assets, you only speculate on the price action and your winnings are settled in the cryptocurrency of your choice – BTC, ETH, USDC or USDT.

You can trade 17 assets across 38 trading pairs:

• Cryptocurrency – Bitcoin, Ethereum
• Forex – USD, EUR, GBP, CAD, AUD, NZD, CHF, JPY
• Commodities – Gold, Silver, Crude Oil
• Indices – S&P500, Nasdaq, DAX

TurboXBT Trading Platform

Contract durations vary from 30 seconds to 1 min, 5 min or up to 15 minutes depending on the trading instrument.

The trading platform is simple and easy to use for beginners and you can start with a $1000 demo account to practice first if you wish. You can minimise risk by trading with as little as $1 – as shown below the potential profit would then be up to 90 cents in a single trade.

TurboXBT 30 second Bitcoin chart

All the trader needs to do is click the green UP button or red DOWN button, if they think after the selected duration the price of the asset will be higher or lower. In this case that’s Bitcoin.

By clicking ‘Positions’ in the left menu you can view all your active trades, and completed trades under ‘Trade History’.

There’s also a leaderboard of all traders.

High Risk CFD Trading

This type of very short-term CFD (contracts for difference) trading is volatile and may not be suited to all traders.

TurboXBT’s risk disclaimer is that it ‘involves a significant level of risk and is not suitable and/or appropriate for all clients’. Traders are also reminded on the TurboXBT website to ‘never invest funds you cannot afford to lose.‘

While it’s possible to make up to 90% returns per trade, the other outcome is losing the capital used for each trade. There are only those two possible outcomes.

TurboXBT Fees

TurboXBT charges no commission fees, the user receives the entire percentage profit if their order goes as predicted.

• 0% fees on deposits –
• 0% fees on withdrawals (Blockchain network fee depending on the network congestion)
• 0% fees on trades

Privacy

There’s no need to submit KYC (know your customer) documentation like on other crypto exchanges – no need for a passport ID, selfie, address verification etc.

Support is available in 16 languages.

TurboXBT mobile app

Deposit & Withdrawal Methods

There’s also no minimum deposit requirement, and you can deposit with:

• BTC
• ETH
• USDT
• USDC

TurboXBT processes withdrawals once a day, between 12:00 and 14:00 UTC. A withdrawal requested before 12:00 UTC will be processed on the same day.

Trade at TurboXBT

TurboXBT will appeal to traders not averse to a high risk-reward trading strategy. If you’re good at knife catching bottoms when Bitcoin is dumping, one way to use TurboXBT would be to place an UP prediction when e.g. the 50 EMA is hit.

That would be an area where a bounce would be expected, and the price would be expected to trend higher at least for the next 15 mins. Similarly if Bitcoin is pumping into resistance, you might predict the price will move DOWN in the immediate short term if the resistance isn’t broken on the first attempt.

Due to its simplicity TurboXBT has 99.9% uptime, so it doesn’t crash during periods of high market volatility as some exchanges do. It can be hard to place a long or short on the major cryptocurrency exchanges when Bitcoin is pumping or dumping rapidly and sometimes orders don’t get filled.

TurboXBT provides a new way to make high returns without those problems. It also has a mobile trading app so you can take advantage of flash crashes or wicks in the market on-the-go whenever they happen.

Other users might choose to open a DOWN trade around the time of the New York or Asia session open if they suspect they will want to sell.

InsideBitcoins suggests avoiding trading over weekends as there is less liquidity, higher volatility and less predictable price action. That would apply even more so when short term contract trading.

Update – Meanwhile, as of 2024, the only cryptocurrencies eToro users in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.

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