This is a Bit Index AI review, it’s a crypto trading bot that trades cryptocurrency on behalf of its users. It has an 85% success rate and claims to provide accurate signals 8 times out of 10.
As the crypto market becomes more competitive, traders turn to automated solutions to increase their odds of success. Bit Index AI is one such solution. It stands out in its use of both fundamental and technical analyses when predicting price patterns.
This review will look into what the trading robot is, how it works, its pros and cons, what to expect when using it in the real world, factors to consider before using it, and how to begin.
Having undertaken extensive research and investigations, we can assume that Bit Index AI may well be a legitimate crypto trading platform. All claims made by the platform appear to be accurate.
If you are interested in signing up for a free account with Bit Index AI, then use the link below to get started and an account manager will walk you through the process.
Minimum Deposit
$250
Fees and Commission
0.01% per trade
Claimed Success Rate
85%
Supported Cryptocurrencies
4+
Deposit and Withdrawal Fees
None
Trading Platform
MT4
Demo Account
Yes
Verification
KYC
Regulations
CySEC
Bit Index AI is a crypto trading bot that automates trading by analysing market data, discovering the relationships between various aspects of price and other market forces, and producing signals that lead to profitable trades.
The bot carries out its analyses without human supervision and, when programmed to, executes trades based on pre-set conditions without fail.
Like BitAI robot and several other trading bots, Bit Index AI’s developers remain unknown. However, we believe they are a team of traders, mathematicians, and software developers.
The Bit Index AI platform runs on an AI algorithm that scans market data, analyses it, and spots strong correlations between variables or data types like price, volume, money flow, etc. It records these correlations as patterns and tests them against past data.
When a pattern recurs in the same way across past data, it is recorded as a possible trading opportunity, and when live market data repeats the same pattern, the bot predicts where the price will move based on past data and current indicators.
Bit Index AI also carries out real-time analysis using fundamental and technical factors. The fundamental factors include news releases, sentiment analysis gotten from social media, or inflation.
The technical factors could be trade volume data, support and resistance levels, and technical indicators like the relative strength index (RSI). The bot could use either or a combination of the two to pinpoint potential profit opportunities.
When it spots an opportunity, it creates a trading signal or automatically executes the trade if programmed to.
Bit Index AI’s claimed success rate of 85% is its most popular feature. Newbies may find this feature useful as they rely primarily on the algorithm to make a profit.
Bit Index AI offers a 1:100 leverage ratio, meaning traders can get up to $99 for every $1 they put in if they wish. This allows them to increase their position size without a significant increase in capital.
Every user gets a dedicated account manager available 24 hours a day, 5 days a week to help them with account issues or answer enquiries. Other customer care agents are available via email and live chat.
Bit Index AI accepts major currencies like USD, GBP, EUR, JPY, and CAD through payment channels like bank transfers and credit cards like VISA, Mastercard, Discover, and American Express.
Newbies can get familiar with using the trading bot without risking real money with the demo account. Advanced traders can test and refine their trading strategies. Users do not need to deposit funds before using the demo account as it is made available upon registration.
The Bit Index AI dashboard is fully customisable for users who prefer to manage their trades. Advanced traders can set what signals and strategies to use in specific market conditions. Newbies can use the fully automated trading mode and rely on the bot’s algorithm.
Before signing up for a Bit Index AI account, ensure that its real-world performance matches its on-paper presentation. Look out for these factors when choosing a crypto trading bot.
A complicated withdrawal process is the first sign of a problematic service. The withdrawal process should be straightforward and timely. Withdrawing from Bit Index AI takes about 24 hours upon request.
New accounts need to be verified, if not by the bot, then by its affiliated crypto brokers. Bit Index AI ticks this box as they require an ID card and a proof of address document upon registration.
Bit Index AI does not charge deposit, withdrawal, or account maintenance fees. However, a 0.01% commission is levied on all trades made with the bot which could be significantly lower than the withdrawal fees charged by several competitors given the bot’s claimed accuracy.
Bit Index AI has a minimum deposit requirement of $250 via bank transfer or credit card. There are no withdrawal limits.
A reliable way to assess the credibility of a service is to seek out independent reviews. Several high authority review sites corroborate Bit Index AI’s legitimacy. While the service is not without its drawbacks, there have not been widespread cases/news of security breaches or scams.
Customer support on Bit Index AI is adequate. A dedicated account manager and support agents are available 24/5 via email and live chat.
The brokers that a bot service partner with is a tell-tale sign of their legitimacy as regulated brokers do not generally partner with shady services. Bit Index AI’s partner brokers are regulated by the Cyprus Securities Exchange Commission (CySEC).
The first factor considered when comparing trading bots is their success rate. While Bit Index AI has an impressive rate of 85%, it pales in comparison to other bots like Immediate Edge, which has a 99% success rate, Bitcoin Prime (90%), and Bitcoin Code (99.4%).
However, what it lacks in claimed success rate, it makes up for in customisation, customer service, and leverage facilities.
Real users and a functional customer service team are ways to gauge a service’s legitimacy.
We found genuine online reviews from several people who interacted with the Bit Index AI bot or platform. While a few had certain reservations, the general trend was positive.
We reached out to Bit Index AI’s customer service agents and the dedicated account manager and got in touch with a customer agent.
So far, Bit Index AI seems to be safe on paper. Client funds are stored with third-party brokers who are reportedly regulated, while the bot trades with the funds and returns them to the broker when done.
Also, the bot uses SSL certificates on its website to secure user data and requires all new users to pass KYC when creating accounts.
Bit Index AI is an AI bot and is, in many ways, above the mistakes that befall humans. Once a trading strategy has been tested and works in certain conditions, it should work when similar conditions surface in the market.
With a trading bot, you can always trade certain conditions in specific ways and make a profit every time, provided the trade isn’t affected by new external factors.
Bit Index AI’s automation allows you to trade when you sleep, eat, work, or visit family. The bot will execute your strategy night and day on CFD pairs of over 4 cryptos, allowing you to catch more profit opportunities.
The Bit Index AI software is designed such that newbies can figure their way around it, at least for basic functions like setting entry, exit, and stop loss levels, and using the automatic mode.
Bit Index AI is one of the few bots, if not the only one, that provides dedicated account managers for every account created. This manager is your first point of contact available to serve you 24/5.
Deposits and withdrawals on Bit Index AI can be made in major currencies like EUR, GBP, USD, CAD, and JPY through bank transfers and all the major credit card providers like Discover, American Express, Mastercard, and VISA.
Keep it simple when starting out. Set entry and exit levels, and manage your risk with stop losses. If you’re a newbie, you may need to rely on the bot’s algorithm to make a profit. If you choose to develop a more elaborate trading strategy, perhaps one involving indicators, test it extensively against market data using the demo account.
If you’re an advanced trader, you can use complex strategies or refine your old ones using the demo account. You can also turn off the automated mode to only receive signals and program the bot to exert tighter controls over your trades.
Bit Index AI trades unencumbered according to a set strategy. Once your parameters are set, the bot handles all underlying technical analysis and trade execution.
Bit Index AI monitors news updates for potential market-changing announcements like interest rates and inflation data. It then monitors the market’s reaction and trades accordingly as the high volatility experienced during these periods can be tricky for novice traders.
Bit Index AI can scan the prices of supported cryptos across various exchanges and take advantage of price discrepancies. And since trades are made in a fraction of a second, users can profit immensely from arbitrage.
Can I use Bit Index AI in the US?
No
Can I use Bit Index AI in the UK?
Can I use Bit Index AI in Australia?
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Can I use Bit Index AI in Austria?
Can I use Bit Index AI in Switzerland?
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Several rumours traverse the internet about Bit Index AI being on popular TV shows, so we checked to see if they were true.
Dragons Den is a popular venture investment show in the UK. And while it features virtually all types of businesses, Bit Index AI has never featured on the show.
Shark Tank is a US version of Dragon’s Den where business owners looking for funds pitch their businesses to a panel of investors. Similar to Dragon’s Den, we did not find evidence that Bit Index AI was ever on the show.
Bit Index AI has never been endorsed by a celebrity. You may how ever come across some Bit Index AI reviews online.
Elon has been in the middle of crypto controversies and has shown support for specific coins and the industry at large, so naturally rumours that he endorsed Bit Index AI surfaced. However, we found them to be false.
Mark Cuban is an investor on Shark Tank and has been involved with several crypto ventures. However, our research shows that Bit Index AI is not one of them.
Snoop Dogg is an American rapper known to support NFTs and the decentralised metaverse. However, our research does not show any connection between him and Bit Index AI.
Trading bots are known for their accuracy in carrying out trade instructions. If those instructions are inaccurate, the loss could be significant. Never rely so much on a bot’s algorithm that you throw caution to the wind. Always backtest your strategies to ensure a high enough accuracy.
The minimum deposit for Bit Index AI is $250, so start with that. Luckily, the deposit sum is not the smallest contract size you can trade, divide the $250 into smaller sums once deposited. Start with a small amount and work your way up as you refine your skills and strategies, and gain confidence.
Always pay attention to what institutional analysts recommend. You don’t have to follow it but ensure you are aware of it. While they are not always correct, these analysts usually have access to information and tools that are unavailable to retail traders. Take into account their predictions when developing trading strategies.
No one is right all the time, not even bots. Always use stop losses according to your risk management strategy. A rule of thumb is that each trade must not risk more than 2% of your total account value, so if your total account value is $2000, the potential loss on each trade must not exceed $40. This should inform your lot size, leverage, and stop loss.
More countries are developing and implementing crypto tax laws as they become familiar with digital assets. As such, always ensure you record your trades for tax purposes. A spreadsheet application should be sufficient. Many brokers keep records that are downloadable from your account dashboard.
This Trading bot helps you begin your trading journey.
You’ll need basic information like your name, an email address, and a phone number. Enter the information in the signup form and click Register Now. You may be asked to input your birthday as the law only allows legal adults to access certain services. Bit Index AI works with affiliate brokers and may direct you to open an account with one of them.
Next, you’ll need to pass KYC verification by submitting pictures of an ID card with your name clearly shown, and a utility bill with your name and address clearly displayed. The affiliated broker may also ask for a source of funds document, like a bank statement with your bank balance and transactions for at least a month clearly shown.
After verification, you’ll need to deposit a minimum of $250 with the broker. Bit Index AI supports bank transfers and credit card payments in major currencies like USD, GBP, JPY, EUR, and CAD, depending on your location. The broker or payment provider may charge you deposit fees, especially with credit cards.
The basics of developing a trading strategy involve setting an entry price, exit price, and stop loss price. As you become proficient, you will be able to develop strategies that use indicators.
Once your bot starts to begin trading and executing your strategy, you’ll need to keep an eye on it to ensure the strategy remains adequate for market conditions.
The Bit Index AI bot is made specifically for the crypto market. It supports four major cryptos Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). However, it does not trade the cryptos directly.
Instead, it uses a derivative called Contracts for Differences (CFD) that pays the difference between the contract’s opening price and its closing price to the party whose price favours.
For example, if you open a long contract (a buy contract), it means that you predict a price increase. If your prediction is accurate, you get the difference between the price of the crypto at the start and the end of the trade. If you opened the trade at $15 and it rises to $20, you get $5. However, if your prediction is wrong, you pay $5.
By using these CFDs, Bit Index AI can offer more than 60 markets for traders to profit from as the cryptos supported are paired with every major currency supported and with one another.
Bit Index AI offers up to 1:100 leverage on CFD trades. While some competitors may offer higher leverage options, Bit Index AI stays within industry-acceptable limits and keeps the beginner in mind as overly high leverage could result in compounded financial losses.
Bit Index AI does not specify their spreads on their website, however, we don’t believe that they add spreads as their major profit source is the 0.01% trade commission.
Bit Index AI is a trading bot known for its 85% success rate, its dedicated customer service via email and live chat, and low fees at 0.01% per trade. Bit Index does not charge deposit, withdrawal, or maintenance fees.
The bot supports deposits with major payment channels like bank transfers and credit card payments and in major currencies like USD, GBP, CAD, EUR, and JPY. The minimum deposit requirement is $250, however, it is not the minimum trade amount. You can trade with smaller amounts once you deposit.
New users can use the demo account to familiarise themselves with the trading bot and advanced users can sharpen their trading strategies with it.
When signing up, you will be assigned a broker to help manage your funds and provide the trading terminal that the bot connects with. Gather documents like a government-issued ID, a utility bill, and a bank statement for a speedy signup process.
We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our ‘why trust us’ and ‘how we test’ pages for more information on our testing process.
We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Bit Index AI review.