HIBT Forex Broker

Hibt Broker - Complete Information Guide

1. Broker Overview

Hibt, officially known as Hi BT, is a cryptocurrency exchange that was established in 2021. The company is headquartered in Canada, where it operates as a private entity. Since its inception, Hibt has aimed to provide a robust trading platform for cryptocurrency enthusiasts and investors. The primary market served by Hibt includes retail traders and institutional clients interested in trading digital assets.

Over the years, Hibt has reached significant milestones, including the launch of its trading platform and the introduction of various trading products. The exchange rebranded from its previous name, "Hots Coin," on April 21, 2024, reflecting its commitment to evolving with the digital currency landscape. Hibt has gained traction in the competitive cryptocurrency market, boasting over 2.7 million active users and a daily trading volume of approximately $25 million.

The business model of Hibt primarily focuses on retail cryptocurrency trading, offering both spot and futures trading services. The exchange provides a wide range of cryptocurrencies for trading, catering to various investor preferences. As a regulated platform, Hibt operates under the relevant laws and regulations, ensuring compliance and security for its users.

2. Regulatory and Compliance Information

Hibt is regulated as a Money Services Business (MSB) in both Canada and the United States. The exchange is licensed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Financial Crimes Enforcement Network (FinCEN) in the U.S. These licenses ensure that Hibt adheres to strict regulatory standards, providing a level of trust and security for its users.

The regulatory numbers for Hibt are as follows:

• Canada: MSB License Number: [specific number not provided in the sources]
• United States: MSB License Number: [specific number not provided in the sources]

The licenses are valid for an indefinite period, provided that Hibt maintains compliance with the relevant regulations. Hibt has established legal entities in various regions to cater to its global client base, ensuring that it operates within the legal frameworks of the countries it serves.

Hibt implements a customer fund segregation policy, ensuring that clients' funds are kept separate from the company's operational funds. This practice enhances the security of user deposits. Additionally, Hibt participates in investor compensation schemes, providing an extra layer of protection for its clients.

To comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, Hibt requires users to complete identity verification before engaging in trading activities. This process involves submitting personal information and documentation to verify the identity of each user.

3. Trading Products and Services

Hibt offers a comprehensive range of trading products, focusing primarily on cryptocurrencies. The exchange supports over 700 cryptocurrencies, including major coins like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Users can trade various currency pairs, with a significant emphasis on popular assets.

In addition to cryptocurrency trading, Hibt provides Contracts for Difference (CFDs) on various assets, including indices, commodities, and stocks. The exchange also offers futures trading on 75 pairs with leverage options of up to 1:125, making it appealing to experienced traders seeking higher exposure.

Hibt frequently updates its product offerings, adding new cryptocurrencies and trading pairs based on market demand and user feedback. The exchange's retail trading services are designed to be user-friendly, catering to both novice and experienced traders. For institutional clients, Hibt offers tailored services, including liquidity solutions and market-making services.

The exchange does not currently provide white-label solutions or asset management services, focusing instead on its core trading offerings.

4. Trading Platform and Technology

Hibt supports the widely-used MetaTrader 5 (MT5) trading platform, providing users with access to advanced trading tools and features. In addition to MT5, Hibt has developed its proprietary trading platform, designed to be user-friendly and efficient for all types of traders.

The web-based trading platform allows users to trade directly from their browsers without the need for downloads. Hibt also offers a mobile application for both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go.

The exchange operates on a hybrid execution model, combining Electronic Communication Network (ECN) and market-making features to provide competitive pricing and fast order execution. Hibts servers are strategically located to ensure low latency and high-speed trading experiences for its users.

For automated trading, Hibt provides API access, allowing traders to implement algorithmic trading strategies and connect their trading systems directly to the exchange.

5. Account Types and Trading Conditions

Hibt offers several account types to cater to different trading needs. The standard account requires a minimum deposit of 5 USDT, with competitive spreads and trading fees. The exchange employs a tiered fee structure, where trading fees for spot trading range from 0.0125% to 0.10% for makers and 0.03% to 0.10% for takers, depending on the user's trading volume and account balance.

For advanced traders, Hibt provides premium account options, including VIP accounts that offer lower fees and enhanced trading conditions. Additionally, the exchange offers Islamic accounts for traders who require compliance with Sharia law.

Hibt provides a demo account for users to practice trading strategies without risking real funds. The leverage offered varies by product, with a maximum leverage of 1:125 available for futures trading.

The minimum trade size on Hibt is set at 5 units, and the exchange has clear policies regarding overnight fees, which are applied based on the positions held at the end of the trading day.

6. Fund Management

Hibt supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies by account type, with the standard account starting at 5 USDT.

Deposits are processed quickly, with most transactions completed within a few hours. However, the exchange does not charge any deposit fees, making it cost-effective for users to fund their accounts.

Withdrawals can be made using the same methods as deposits, with specific limits and processing times depending on the chosen method. Hibt aims to process withdrawal requests within 24 hours, but users should be aware that processing times may vary based on network conditions.

The withdrawal fees structure is transparent, with clear guidelines provided on the exchange's website. Hibt ensures that users have a smooth experience when managing their funds, prioritizing security and efficiency in all transactions.

7. Customer Support and Educational Resources

Hibt offers comprehensive customer support through multiple channels, including email, live chat, and social media platforms. The support team is available 24/7 to assist users with any inquiries or issues they may encounter.

The exchange provides multilingual support, catering to a diverse clientele across different regions. Users can access educational resources such as webinars, tutorials, and e-books to enhance their trading knowledge and skills.

In addition to educational materials, Hibt offers market analysis services, providing users with daily insights, news, and research reports to help them make informed trading decisions. The exchange also features various trading tools, including calculators, economic calendars, and signal services to support traders in their activities.

8. Regional Coverage and Restrictions

Hibt primarily serves markets in Canada and the United States, with plans to expand its reach to other regions in the future. The exchange has established regional offices to facilitate its operations and provide localized support to its users.

However, Hibt has certain geographical restrictions due to regulatory requirements. Users from countries such as Afghanistan, China, Iran, and the United States (with limitations on futures trading) are unable to access the platform's services.

The exchange is committed to complying with local laws and regulations, ensuring that its operations are legitimate and secure for all users.

In conclusion, Hibt broker stands out as a reliable cryptocurrency exchange, offering a variety of trading products, robust regulatory compliance, and dedicated customer support. With its focus on user experience and security, Hibt is well-positioned to cater to the growing demands of the cryptocurrency trading market.