TurboXBT is a recently launched cryptocurrency derivatives trading platform that offers 24/7 short-term contracts trading.
What Is TurboXBT: Introduction
If you are looking for a less exhausting way to trade cryptos, TurboXBT can be the right solution for you.
The platform has 30-second, 1-minute, 5-minute, and 10-minute Up and Down contracts. All you need to do is analyze the price movement and predict whether the price will go up or down in the next few minutes. If you’re right, you walk away with up to 95% profit on your trade.
So, how does TurboXBT work, what products and assets it offers, and how safe is it to use? Let’s find out.
TurboXBT Supported Products & Assets
Turbo XBT offers over 30 assets to trade. When it comes to cryptocurrencies, it only supports BTC/USD and ETH/USD at the time of writing. Apart from crypto, it supports forex pairs and metal & crude oil assets.
TurboXBT supports eight forex currencies: AUD, CAD, JPY, NZD, USD, CHF, EUR, and GBP, and around 30 forex trading pairs.
Coming to commodities, crude oil, Brent, gold, and silver are the four commodities available on the platform. The available trading pairs are XAU/USD, XAG/USD, Brent/USD, and Crude/USD.
TurboXBT also supports three indices: NASDAQ, S&P500, and GER30. The trading pairs are NASDAQ/USD, SP500/USD, and GER30/USD.
The platform doesn’t provide any leverage on trading, and you need to have 100% of the margin required. There are four short-term contract durations: 30 seconds, 1 minute, 5 minutes, and 10 minutes.
How Do TurboXBT Short Term Contracts work?
Unlike other cryptocurrency spot and derivatives exchanges, TurboXBT allows you to bet on the spread of the asset contract that you have chosen. In traditional futures, the contract duration is weekly, monthly, or quarterly. In perpetual contracts, the contract duration is unlimited.
For TurboXBT contracts, the maximum duration is 10 minutes. TurboXBT gets liquidity from renowned cryptocurrency exchanges like KuCoin, Huobi, and Kraken for BTC/USD and ETH/USD trading pairs.
TurboXBT is ideal for seasoned cryptocurrency traders who want to live the new era of scalping. Instead of buying crypto, setting targets, and planning exits, you only need to predict if the price will go up or down.
If your prediction is correct, you walk away with up to 95% profits. If your prediction is incorrect, you incur a loss. So, if you invest 1 BTC in an up contract and the price closes above your entry price, you will make a profit of 0.9 BTC.
The maximum potential profit is 95%, though it can be less based on the time frame of the contract, trading pair, and other variables.
TurboXBT has an interesting fee structure, so let’s understand this in detail. Cryptocurrency exchanges and trading platforms generally follow two fee structures.
- Market maker/taker fee
- Commission fee
TurboXBT doesn’t charge any such fee. There’s no commission on trades, and you only need to pay for the blockchain network fee, which goes to crypto miners and not TurboXBT. So, you can basically trade for free without paying any fee.
But then how does TurboXBT make money? Here’s where the concept of premium comes into the picture. Remember we discussed you earning a 90% profit on your winning trades? Where does the remaining 10% go?
TurboXBT takes a 10% premium on your winning trades. So, if you invest 1 BTC and the profit percentage is 95%, you make 0.9 BTC, and TurboXBT takes away 0.1 BTC.
This structure is good because all other cryptocurrency exchanges charge a small fee regardless of the trade outcome. Booking a loss and paying a fee on top of it can hurt. TurboXBT takes care of that.
TurboXBT Trading Platform Features & Tools
Now that we have discussed how TurboXBT works and the fee it charges, let’s look at the features and functionalities it offers. TurboXBT has a robust trading platform, and it’s also easy to use.
Here are all the key highlights of TurboXBT’s platform.
- Proprietary Charting Platform
TurboXBT has its proprietary trading platform with powerful tools and features. It has a charting system where you can plot charts of various time frames. Currently, TurboXBT supports the following time frames: 1 minute, 5 minutes, 15 minutes, 15 minutes, 1 hour, 4 hours, 12 hours, and 1 day.
Coming to chart types, TurboXBT has three chart types: Line, candlesticks, and range.
The charting terminal also has seamless drag & drop and zoom-in & zoom-out functionalities. You can hold the cursor anywhere on the chart and drag it to the right to see previous chart data. Similarly, you can use the scroller of your mouse to zoom in and zoom out the charts.
- Seamless Order Form
If order forms on other cryptocurrency trading platforms confuse you, you aren’t alone. Selecting the order type, margin, advanced order settings, etc., can be confusing. Many new traders don’t know how to place stop-loss and trailing stop orders.
TurboXBT makes it easier. You only need to select three things:
- Time duration of the contract
- The amount you want to invest
- Up or Down order
Start with $1
TurboXBT allows you to start trading with as little as $1. With potential profit being up to 95%, you can quickly multiply your funds. Hence, TurboXBT is an ideal platform for people who want to trade cryptos but don’t have enough money or risk capacity.
- Ideal for Beginners
TurboXBT is one of the most straightforward crypto trading platforms to use, making it ideal for beginners. All you need to do is deposit crypto in your account and start taking UP and DOWN positions. You can withdraw your balance whenever you want.
- Mobile-Friendly Site
Though TurboXBT doesn’t have a mobile app, it has a mobile-friendly website and offers the exact same functionality. Hence, you can open an account and start trading from your mobile phone.
- Demo Mode
One of my favorite features of TurboXBT is its demo mode. You can trade with $1,000 worth of virtual currency and learn how the platform works. The demo mode has all the functionalities, so you can get a complete idea of how everything works.
Moreover, you don’t need to create an account to use the demo mode. Just visit the TurboXBT website, and you’ll be able to access the demo mode right from the homepage.
- TurboXBT Deposit Methods
TurboXBT accepts deposits and withdrawals through cryptocurrencies only. You can deposit BTC, ETH, USDT, and USDC from any cryptocurrency wallet.
Please note that TurboXBT NOW accepts fiat deposits. TurboXBT has added the ability to top up the balance with bank cards (USD/EUR/CNY/AUD/INR and other fiat currencies with a deposit fee of 1% – 3.5%).
If you want to deposit crypto assets, you can head to any cryptocurrency exchange like Binance or Coinbase to buy crypto. You can deposit money at any time of the day and start trading.
However, there are certain time restrictions for withdrawals. TurboXBT processes withdrawals between 12:00 and 14:00 UTC only.
How To Start Trading on TurboXBT Exchange?
By now, we have discussed everything you need to know to start trading on TurboXBT. So, let’s look at how you can start trading on the platform.
1. Create an Account
First things first, you need to create an account. Visit the TurboXBT website and click on Open Account in the top right corner. Enter your email ID and password, and click on register.
2. Confirm Your Account
TurboXBT will send a PIN on your email ID. You’ll need to provide that PIN to confirm your email ID. Once you do that, your account will be ready to deposit funds.
Please note that TurboXBT has no KYC requirements, and you don’t need to verify your identity.
3. Deposit Funds
After verifying your email address, you can deposit funds to your TurboXBT account. Head to the deposit section, and you’ll get an option to choose from BTC, ETH, USDT, and USDC. It could take a few minutes for your funds to reflect in your account.
4. Place Your First Trade
Once your funds appear in your account, you can start trading. As discussed, trading on TurboXBT is simple. Just look at the chart, predict the price movement, decide the contract duration, and place a UP or DOWN order.
5. Manage Risk
As exciting as trading on TurboXBT may sound, users need to understand the risk associated with short-term synthetic contracts. While the profit potential is up to 95%, the loss is fixed at 100% of the trade goes against your prediction.
Therefore, it’s essential to manage risk properly. If you want to start trading on TurboXBT, allocate a small percentage of your total capital to it. This way, you won’t get affected much even if you lose money.
TurboXBT Security Features
Platform security is one of the most important things to consider before choosing a cryptocurrency trading platform. TurboXBT does a great job when it comes to privacy and security. Some security measures taken by TurboXBT are:
- Two-factor authentication (2FA)
- Offline cold storage
- Multi-signature wallets
- IP allowlisting
Moreover, the TurboXBT team manually reviews all withdrawal requests on the platform.
TurboXBT Customer Support
Customer support is another crucial aspect to consider before choosing a cryptocurrency trading platform.
TurboXBT offers customer support primarily through Telegram and Twitter. They don’t have a dedicated contact page with an email address or live chat. The site also doesn’t have an FAQ section or help guide.
Overall, the customer support of TurboXBT is below industry standards, which is something users should consider before signing up.
Is TurboXBT Exchange Safe & Legit?
Though TurboXBT isn’t regulated by any government body, it aligns with all the cryptocurrency platform standards. It implements all the security measures needed to provide a safe and legitimate trading environment to users.
Though TurboXBT is a new platform, no issues regarding the platform’s security have come to light. So, if you’re looking for a short-term contract trading platform, you can sign up for TurboXBT with full confidence.
Supported Countries & AML Compliances
TurboXBT is a platform by Turbo Ticks Technology Limited, a company incorporated in Seychelles. It is available in over 100 countries worldwide.
However, it isn’t available to citizens of the following countries: USA, Japan, Canada, Russian Federation, North Korea, Algeria, Syria, Sudan, Iran, American Samoa, and other countries that require accreditation or licensing.
Risks Associated with TurboXBT Platform Trading
TurboXBT might seem like a magical platform where you can almost double your money in 30 seconds. And it’s absolutely true; you can earn up to 95% profits on your initial investment in just 30 seconds.
However, with higher rewards come higher risks. If your trade goes against your predicted direction, you’ll lose 100% of your initial investment.
So, if you invest 1 BTC and the profit percentage is 95%, you’ll earn 0.95 BTC if you win. But if you lose, you’ll lose the entire 1 BTC. Therefore, the risk-reward ratio is always 0.95:1, which isn’t a favorable ratio.
However, that doesn’t mean you can’t earn money on TurboXBT. You can earn up to 95% profits on each trade, and you can be profitable if you manage to achieve a win ratio of over 60%.
Pros and Cons of TurboXBT
- Up to 95% instant profits in 30 seconds
- Demo account with $1,000 virtual currency
- No fees or commissions
- Start with $1 only
- Complete anonymity with no KYC requirements
- Enter and exit anytime
- User-friendly and easy-to-use interface
- Top-notch security
- Liquidity from exchanges like Huobi, Kraken, and KuCoin
- No fiat deposit or withdrawals
- Time-restricted withdrawals
- The significant financial risk associated
TurboXBT Review Summary
TurboXBT is a supercharged trading platform that lets you generate instant profits. You don’t have to worry about entering and exiting at specific points. As long as the price remains above or below your entry price (depending on your trade), you’ll earn money.
However, TurboXBT is equally dangerous. If the trade goes against your direction, you’ll have to book a 100% loss. Therefore, it’s essential to use a small portion of your capital to trade on TurboXBT.
This article is for educational purposes only and shouldn’t be considered investment or trading advice. The cryptocurrency, securities, forex, and commodity markets are subject to market risk. Be sure to understand the risks and educate yourself properly before investing money in any of these markets.