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Digibits

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|White label MT5|Regional Brokers|High potential risk|

https://www.digibitsfx.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
DigibitsNetwork-Live MT5
Server Location United Kingdom

Contact

support@digibitsfx.com
https://www.digibitsfx.com
Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines.

Licenses

No valid regulatory information, please be aware of the risk!

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Broker Information

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Company Name

Digibits Network Limited

Company Abbreviation

Digibits

Platform registered country and region

Saint Vincent and the Grenadines

Company website

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Warning: Low score, please stay away!
Previous Detection : 2024-04-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Digibits · Company Summary

Digibits Basic Information
Registered Country/Region Saint Vincent and the Grenadines
Founded 2021
Regulation Not Regulated
Company Name Digibits
Tradable assets Forex, Stocks, Indices, Spot Metals
Minimum deposit $100 (USD)
Spreads and Commission Variable spreads, Commission vary depending on trading account
Account Types Standard Account, VIP Account, Raw Account
Maximum leverage Up to 1:500
Trading platform MetaTrader 4
Mobile trading Yes
Customer Support 24/5 via Telephone, Email, Live Chat

*Please note that the information provided on the table is based on the available details and general knowledge. It's always recommended to visit the broker's official website or contact them directly for the most accurate and up-to-date information.

Overview of Digibits

Founded in 2021, Digibits is a forex broker registered in Saint Vincent and the Grenadines, offering trading services to clients from all around the world. The broker provides several account types that cater to different trading styles and levels of expertise. The account types include Standard, VIP and Raw accounts, each with its unique features and trading conditions. The minimum deposit to open a standard account starts from $1000, which is much higher than most broker's requirements. In terms of leverage, Digibits provides traders with the option to choose their leverage level depending on the trading instrument. For Forex, gold, and silver, Digibits offers a maximum leverage of 1:500.

Digibits offers the MetaTrader 4 (MT4) trading platform to its clients, a reliable and user-friendly platform that traders can use on desktop, web and mobile devices, allowing them to access trading and analysis tools anytime and from anywhere.

Digibits offers customer support services to its clients via multiple channels, including telephone, email, live chat, and a web contact form. Their customer service team is available 24/5 to answer any questions or concerns that clients may have about trading or the services provided by the company.

DigibitsFX is operated by Digibits Network Limited (26565 ibc2021) that is registered in Saint Vincent and licensed with the Financial Services Authority.

basic-info

Is Digibits legit or a scam?

Digibits is not currently regulated by any financial regulatory authority. While unregulated brokers can offer certain advantages, such as lower fees and more flexible account options, it's important to note that there may also be risks involved. Unregulated brokers do not have to follow certain strict guidelines and regulations, and may not necessarily provide the same levels of security and protection as regulated brokers.

Therefore, it is always recommended that traders do their own research and exercise caution when dealing with unregulated brokers like Digibits.

Pros and Cons

On the positive side, Digibits offers a variety of account types and competitive trading conditions, such as high leverage and access to a diverse range of trading instruments. The broker also provides an intuitive and user-friendly trading platform, efficient customer support and mobile trading capabilities. However, Digibits limitations include a relatively narrow range of tradable assets, high fees for bank transfers and withdrawals, lack of investor protection, and limited educational resources for traders.

Pros Cons
Multiple account types to choose from Not regulated
Competitive trading conditions and leverage Limited range of tradable assets
Wide range of trading instruments including forex, indices, commodities, and cryptocurrencies No investor protection scheme
User-friendly trading platform, MetaTrader 4 Limited educational resources
Mobile trading available No social trading
Efficient and responsive customer support High fees for bank transfers and withdrawals

Market Intruments

Digibits offers a range of market instruments for trading, including forex, indices, commodities, and cryptocurrencies. Forex traders can trade on major, minor and exotic currency pairs, while the index trading options include the popular S&P 500, NASDAQ and the Dow Jones. The broker also provides access to a variety of commodities such as gold, oil, silver. Additionally, Digibits offers a growing selection of cryptocurrencies, including Bitcoin, Litecoin and Ethereum, among others. Traders can choose to trade these assets on either a standard or raw account, and the MetaTrader 4 trading platform provides a user-friendly interface for executing trades across all of these instruments.

market-instruments

Account Types

Digibits offers three main account types for its traders: the Standard account, the VIP account, and the RAW account. The Standard account requires a minimum deposit of $1,000 and offer variable spreads starting from 1.8 pips. Traders can acess all trading instruments and enjoy flexible leverage up to 1:500. On the other hand, the VIP account requires a minimum deposit of $15,000. and offers spreads starting from 1.4 pips. VIP account holders also get a personal account manager and can trade with up to 1:200 leverage. Finally, the RAW account is intended for serious and high-volume traders, requiring a minimum deposit of $50,000. This type of account offers the lowest spreads starting from 0 pips but charges commissions on every trade. RAW account holders can also trade with up to 1:200 leverage. All account types come with access to the MetaTrader 4 trading platform and other features, with higher-tier accounts offering additional perks and benefits.

account-types

How to open an account?

To open an account with, follow these simplified steps:

1. Visit the official website of Digibits, and locate the “Open Account” or “Register” button prominently displayed on the website's homepage.

open-account

2. Fill out the registration form accurately, providing your personal details, including your full name, valid email address, phone number, and country of residence.

open-account

3. Select the desired account type from the available options, such as a live account for real trading or a demo account for practicing with virtual funds. Carefully review and accept the terms and conditions, as well as any risk disclaimers stipulated by Rallyville Markets.

4. Submit your completed registration form for processing and verification, ensuring that all information provided is correct and matches your official identification documents.

5. Once your account is approved, you will receive login credentials to access the trading platform provided by Digibits. Deposit funds into your trading account using the available payment methods accepted by the broker, ensuring that you meet the specified minimum deposit requirement.

6. Download and install the trading platform, and log in using your account credentials to commence trading various financial instruments.

Keep in mind that you will need to complete the Know Your Customer (KYC) process before you can make any withdrawals. This involves submitting identification documents such as a passport or driver's license, and proof of address such as a utility bill or bank statement. Make sure to follow all instructions provided by Digibits to ensure a smooth account opening process.

Leverage

Digibits offers leverage up to 1:500 for the Standard account, up to 1:200 for the VIP account, and up to 1:200 for the RAW account. Leverage is a tool that allows traders to magnify their profits and losses, by allowing them to control larger positions with a smaller amount of capital. However, it's important to note that higher leverage also increases the risk of losing more than the initially invested capital. Digibits provides flexible leverage options, which traders can use according to their trading experience and risk preferences. It's essential to understand how leverage works and use it responsibly in order to stay within acceptable risk levels.

leverage

Spreads & Commissions (Trading Fees)

Digibits offers multiple account types, each with varying spreads and commissions. For the Standard account, the spread starts from 1.8 pips, and there is no additional commission charged. For the RAW account, the spread is from 0.0 pips, but there is a commission of $3.5 per lot. For the VIP account, spreads start from 1.4 pips, and there is no additional commission charged.

It's worth noting that spreads and commissions can vary depending on market conditions and the instrument being traded. Digibits strives to offer competitive pricing to its clients and provides transparent information on its website about the current spreads and commissions for each account type.

In addition to spreads and commissions, Digibits charges a withdrawal fee of $25 for wire transfers. Other payment methods, such as credit/debit cards or e-wallets, may have different fees associated with them. It's essential to review the fee schedule carefully and factor in all costs when evaluating the overall value of trading with Digibits.

spread-commission

Non-Trading Fees

In addition to the spreads, commissions, and withdrawal fees, Digibits charges some non-trading fees. These fees include:

  • Inactivity fee: A fee of $50 per month is charged if an account remains inactive for 90 days or more.

  • Overnight financing fee: This is a fee charged for positions that are held overnight. The fee varies based on the instrument being traded and depends on prevailing interest rates.

  • Conversion fee: For leverage accounts and accounts with a currency balance that is different from the base account currency, a conversion fee may be charged for converting currencies.

It's important to note that non-trading fees can sometimes have a significant impact on overall trading costs, especially for traders who hold positions for extended periods. Traders should make sure to review all the fees associated with their account type and factor them in when evaluating the overall value of trading with Digibits.

Trading Platform

Digibits actually offers multiple trading platforms, giving clients flexibility to select the one that suits them best. These platforms include:

  • MetaTrader 5 (MT5): This platform offers similar features to MT4 but comes with additional functionalities such as more technical indicators and order types. MT5 also has more advanced features for trading different asset classes, including stocks and futures.

trading-platform
  • WebTrader: The WebTrader is a web-based platform that does not require any installation. This allows traders to access their accounts and trade from any computer that has internet access.

trading-platform
  • Forex mobile trading platform: This is a mobile trading application that can be used on smartphones and tablets. It offers traders the ability to monitor their accounts, view charts, and place trades, all from the palm of their hand.

trading-platform

Deposit & Withdrawal

Digibits offers a range of deposit and withdrawal options, most of which are free, fast, and secure. These options include:

  • Bank/wire transfer: This is a traditional method of transferring funds that involves a bank-to-bank transfer. This option is free but may take up to 5 business days to process.

  • Credit/debit cards: Digibits accepts Visa, Mastercard, and Maestro cards. These payments are free and are processed instantly.

  • E-wallets: Digibits supports popular e-wallets such as Neteller, Skrill, and PayPal. These options are also free and are processed instantly.

  • Cryptocurrencies: Digibits is one of the few brokers that accepts Bitcoin and Ethereum as deposit methods. This option is free and is processed instantly.

Digibits does not charge any deposit or withdrawal fees, except for bank/wire transfers which may incur a fee from the sending or receiving bank. It is important to note that clients may be subject to fees by the payment service provider used.

deposit-withdrawal

The minimum deposit amount varies depending on different payment options, ranging from $100 to $500. Basically, funds will instantly arrive at your account after payment details are processed. No deposit fees are charged except Neteller, which asks for a service fee of 1.8%.

Customer Support

Digibits offers customer support via several channels, including email, Telegram, and social media platforms like Facebook, Twitter, Linkdedin and Instagram. The support team is available 24/5.

To contact the support team, clients can use the following methods:

  1. Email: Clients can send an email to the support team at support@digibits.com. This channel is recommended for more detailed inquiries or complaints that require documentation.

  2. Telegram: Digibits is a unique broker in that it only accepts communication via Telegram, a popular messaging app. Clients can message the customer support team directly through the Digibits Telegram channel @digibitsofficial.

  3. Social media: Digibits maintains an active presence on social media platforms like Facebook and Instagram. Clients can reach out to the support team via these channels for quick responses to general inquiries.

  4. FAQs: The FAQ section is an excellent resource for clients who may have basic questions or concerns about trading with Digibits.

customer-support

Here is a table outlining the pros and cons of Digibits customer support based on the information provided:

Pros Cons
Telegram and some social media supported Limited communication channels
A FAQs section available No phone support available
No live chat support available
Only recommended for general inquiries, not suitable for complicated problems
No 24/7 customer support
No multilingual support available

Educational Resources

When it comes to educational resources, it seems that Digibits invests in educating their clients. Here are the educational resources that Digibits offers:

Daily Market Analysis: Digibits provides its clients with a daily market analysis that highlights significant movements in major markets, including stocks, currencies, and commodities.

Forex Glossary: The forex glossary is a dictionary of forex terms containing definitions and explanations of various forex terms used by traders. Clients can learn new terminologies and improve their understanding of trading language.

Economic Calendar: This calendar displays upcoming economic events, such as interest rate decisions, employment data releases, and other announcements that could influence market movements.

Conclusion

On the positive side, Digibits is a broker that offers a range of account types with competitive pricing, low spreads, and a variety of trading instruments, which includes Forex, stocks, indices, and spot metals. This broker also offers multiple trading accounts to choose from, favorable leverage up to 1:400.

On the other hand, Digibits has some drawbacks worth mentioning. The broker doesn't have any regulation, and this can raise concerns about the safety of clients' funds. Moreover, the broker's website lacks transparency regarding their fees and charges, and this can cause confusion for potential clients. Besides, its minimum deposit for some accounts is way too high. Finally, the broker's trading platforms are not as advanced as some of their competitors, and this may not suit advanced traders looking for sophisticated trading tools.

FAQ

Q: Is Digibits a regulated broker?

A: No, Digibits is not a regulated broker.

Q: What types of accounts does Digibits offer?

A: Digibits offers four types of trading accounts, namely, Standard, VIP and Raw.

Q: What trading platforms are available at Digibits?

A: Trading platforms offered by MetaTrader 5 (MT5), Forex mobile trading platform and webtrader.

Q: What is the maximum leverage offered by Digibits?

A: Digibits offers a maximum leverage of 1:400.

Q: What are the fees for trading at Digibits?

A: Digibits charges no commission fees for trading, but they make their profits from the spreads. The spreads are variable and start from 1.8 pips for the Standard account.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.

News

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User Reviews

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FX3044717093
more than one year
I lost 2000 usd because of Digibits, one guy name Syed Irshad don’t trust this guy, he used to call 10 times daily and he assured, now he blocked my number after depositing money
2023-03-10 23:52
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Alicia.alicia
more than one year
I lost 13k on Digibits, account manager assured me it is a reliable service, I decide to made deposit, after my first withdrawal they ask to reverify my account, I uploaded my ID and that was it, I was locked out. I don’t use the service anymore because I now earn withdraw from benarmstrong-trades. com with no restriction, that a reliable firm. What ****** me off about Digitbits is the poor customer relation. I wished I can get my money back from them but I’ve recovered from the new platform.
2023-03-07 01:27
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Iqbal5543
more than one year
You can check out brokers like Digibitsfx. These brokers are good and offer good trading conditions. The deposits and withdrawals over Digibits are fast. They also reimburse up to 7 percent of the transaction cost. These brokers offer great customer support and offer a wide range of trading instruments. You can open a demo account and check their trading conditions.
2023-03-06 16:08
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FX6768897392
more than one year
I recommend you should go for Digibitsfx, both of them are the best in the market. I have been using Digibits for a long time. The minimum deposit is $5 and there is a $7 brokerage fee. I've also been trading with Digibitsfx on my friend's recommendation. They have the lowest commission of $2/lot and you can open an account for as little as $10.
2023-03-06 16:05
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FX1614803462
more than one year
Digibitsfx UAE is the best Forex Trading Platform and Broker for me. I recommend it to anyone who is interested in starting a forex trading career. I have been trading with Digibitsfx UAE since 2020. Digibitsfx UAE is a licensed Forex Trading Broker. I would highly recommend it to anyone who wishes to learn how to trade forex. Providing advice and reminders on how to trade. Ideal for new traders!
2023-03-06 16:03
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FX4219283999
more than one year
The broker is highly regulated and highly trusted by Digibitsfx, so it is a great platform. Digibits is a leading multi-asset broker with a wide range of tradeable global markets, high-quality education and research, and a modern, institutional-grade trading platform.
2023-03-04 20:27
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0
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FX4265784042
more than one year
Depending on where you are located and which regulated entity holds your account at digibitsfx.com, you will be able to access digibitsfx products and services. Although CFDs are not available in the United States because of regulatory issues, digibitsfx offers over 4,500 CFDs for traders living outside of the U.A.E.
2023-03-04 20:11
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tita512
more than one year
I've been using Digibits for a few weeks now and I couldn't be happier with the service. The registration process was very simple and straightforward, and I was up and running in no time. One of the things that sets Digibits apart is their exceptional customer support. They are always striving for improvement and their response times are lightning fast. I was impressed with the knowledge and problem-solving skills of their support team, who were able to resolve any issues.
2023-03-03 00:58
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vayiyek
more than one year
Digibits platform is user-friendly and easy to navigate, making it simple for me to execute trades with ease. The execution speed is lightning fast and I've never experienced any lag or delay. The customer support team is knowledgeable and always available to assist me with any questions or issues I may have. I appreciate their commitment to providing a secure and transparent trading experience. Overall, I highly recommend Digibits as the best and fastest forex trading service provider.
2023-03-03 00:55
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tanid
more than one year
I highly recommend Digibits for their exceptional brokerage services in FOREX trading. Their customer support is top-notch and they consistently strive for improvement to meet their clients' needs. I am extremely satisfied with their services and grateful for their support. Thank you, Digibits!
2023-03-03 00:52
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vejoh
more than one year
One of the best trading companies I have ever worked with. It has a lot of features, including very low spread differences, especially for people who work on the scalping strategy. In addition, the opening and closing orders are very fast, and there are also strong licenses and technical support staff in all languages ​​and account managers.
2023-03-03 00:48
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movet
more than one year
My FOREX trading needs are handled by Digibits, and I am extremely happy with this company. I appreciate the excellent customer service and the excellent brokerage service offered by this company. Anyone looking for a trustworthy FOREX broker should consider Digibits.
2023-03-03 00:44
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mewiy
more than one year
I would recommend the platform to other traders who are looking for a reliable and efficient trading experience. Keep up the good work and I hope you continue to have a successful trading journey!
2023-03-03 00:41
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0
reyin
more than one year
Digibits recently assisted me with two deposits I made, and I was pleasantly surprised by their support. The platform is direct, simple and easy to understand, which made it so much easier for me to navigate and solve my issue. The customer service was prompt and helpful, providing me with clear and concise instructions to resolve my problem. I'm extremely grateful for the support I received from Digibits and I would highly recommend their services to anyone looking for a seamless.
2023-03-03 00:09
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safa8348
more than one year
The platform meets all your needs and delivers a positive experience. The user-friendly interface and the ease of use of the platform make it accessible to traders of all levels. The range of available assets and the variety of trading instruments are also commendable, providing traders with the flexibility to make informed investment decisions.
2023-03-03 00:04
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0
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FX3105732758
more than one year
My experience with Digibitsfx has been very positive. Fast and Secure Online Forex Trading - Digibits Network Limited is an absolutely legitimate platform to trade currencies around the world. In the Forex market, institutions and individuals exchange currencies. Because currencies are required for buying, selling, or conducting cross-border trade, it is untrue to claim the Forex market is a myth. Aside from setting stops and limits, setting price alerts, and adopting a trading style that suits
2023-03-02 15:55
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0
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Salmaan8319
more than one year
My experience with Digibitsfx has been very positive. The Fast and Secure Online Forex Trading - Digibits Network Limited market is an absolutely legitimate place to trade currencies around the world. Forex is no myth. Different institutions and individuals come together here to exchange currencies. This makes it untrue that the Forex market is a myth since currencies are required to buy, sell, or conduct any other cross-border trade.
2023-03-02 14:52
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0
0
FX1534759380
more than one year
Digibitsfx is the best platform that I have used. It offers its own Advanced Trading (desktop) and Web Trading platforms, as well as MetaTrader (MT4) and MetaTrader 5 (MT5). Digital Bits is an established multi-asset broker with access to a wide range of global markets, high-quality research and education, and an institutional-grade trading platform. Among Digibitsfx's important qualities is that the broker is well-regulated and highly trusted.
2023-03-02 14:29
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hanaya
more than one year
Digibits has been a game-changer for me in terms of forex and cryptocurrency trading. The platform is straightforward and intuitive, making it easy to manage my portfolios and keep track of my investments. The ability to switch between accounts with just a few clicks is also a huge plus. I've been able to make some great profits thanks to Digibits, and I highly recommend it to anyone looking to get into the trading game.
2023-03-02 14:29
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0
0
vireve
more than one year
The trading speed is fast and efficient with Digibits, making it easier for you to execute your trades quickly and effectively. The advantage of the swap rate is also a key feature, as it can potentially increase the profitability of your trades.
2023-03-02 14:25
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