Flitpay Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Fixed trading commissions, no commissions for depositing and withdrawing funds, the referral program gives three types of bonuses
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Fixed trading commissions, no commissions for depositing and withdrawing funds, the referral program gives three types of bonuses
Our Evaluation of Flitpay
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Flitpay is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Flitpay clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Flitpay exchange offers generally favorable terms of cooperation. It is simple and easy to learn, as it uses a web terminal based on TradingView and an adaptive mobile application for iOS and Android. The key advantages of the crypto exchange are the variety of trading instruments, the availability of a demo account, the high speed of execution, and the security of traders’ funds.
Brief Look at Flitpay
The Flitpay Indian exchange was launched in 2017. On the platform, you can trade Bitcoin (₿) and the most popular altcoins, including Ethereum (Ξ), Litecoin (Ł), DOGE (Ð), USDT (₮), and XRP. Fiats are represented only by the Indian rupee. The deposit and withdrawal of funds are possible through many channels, including bank transfers, cards, and electronic wallets. There are no commissions for these operations. Trading commissions are fixed at 0.2% on other transactions. In addition to trading, the platform provides an integrated service for exchanging cryptocurrencies among themselves and cryptocurrencies with the Indian rupee. The exchange has its own FLT token. Trading is possible both in the browser and in the mobile application. All transactions are carried out almost instantly. Flitpay offers standard and demo accounts.
- in pairs of crypto-crypto and crypto-fiat, several dozens of the most popular cryptocurrencies are available;
- the platform does not charge commission fees for depositing or withdrawing funds and transfers between traders;
- most deposit and withdrawal options are available, including bank cards and electronic wallets;
- the platform works stably in 24/7 mode with high-speed executions;
- a modern KYC-standard system for protecting user funds and data;
- the exchange offers a demo account to familiarize beginners with the principles of crypto trading.
- there are crypto-fiat pairs, however, fiat funds are represented on the platform only by the Indian rupee;
- although the commission is 0.2%, which is average for the market, there are quite a few crypto exchanges that have lower trading fees;
- you can contact technical support only through tickets on the platform and by email;
- there is no call center.
TU Expert Advice
Financial expert and analyst at Traders Union
Flitpay, like most Indian cryptocurrency exchanges, works only with rupees as the fiat currency. However, at the request of traders, the platform introduced Tether, which is backed by the US dollar. It also allows you to withdraw funds to e-wallets and exchangers without commission, which simplifies the conversion process. There is also a converter on the exchange itself but without European or other fiats.
In terms of functionality, the platform is standard, as it is represented by a typical TradingView web terminal, which is recognized by experts as the simplest and most versatile. The functionality they offer is not enough for high-level professionals who will require additional tools, but for beginners and traders with average experience, this platform is sufficient.
Another advantage for beginners is the presence of a demo account and the absence of an initial deposit. There are no restrictions on depositing and withdrawing funds, and you can use cards and accounts of most banks. The exchange offers its proprietary KYC-protected multi-currency e-wallet. Otherwise, the conditions are standard. Flitpay has an average commission, and communication with technical support is done by mail. Reductions in trading commissions due to the bonuses from the Traders Union are another advantage of the platform.
Flitpay Summary
| 💻 Trading platform: | Proprietary platform based on TradingView |
|---|---|
| 📊 Accounts: | Demo, standard |
| 💰 Account currency: | INR, also BTC, ETH, USDT, DOGE, and other altcoins |
| 💵 Replenishment / Withdrawal: | Bank transfers and cards, e-wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies and INR fiat |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Fixed trading commissions, no commissions for depositing and withdrawing funds, the referral program gives three types of bonuses |
| 🎁 Contests and bonuses: | Yes |
Flitpay has average trading fees and no deposit/withdrawal fees. However, the amount of fees is not the only indicator that must be considered when choosing a platform for active trading. What matters is the account’s currency, the presence or absence of a demo mode, mobile trading, the number of trading instruments, and investment decisions. The table below shows the basic data for Flitpay.
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Investment Options
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Flitpay crypto exchange does not offer investment solutions focused on earnings in the future. The platform aims to develop active trading only. As an option for passive income, you can consider its referral program, which will be discussed below. Many traders consider crypto trading as an investment method. Flitpay has a secure multi-currency e-wallet where the user can store funds in all available cryptocurrencies and in any amount, as well as freely convert them among themselves.
The maker/taker mechanism is the key to investments
Traders are divided into two types — makers and takers. Makers add liquidity, and their orders are not executed instantly, but they are quickly added to the order book. Takers take liquidity, and their orders are executed super-fast by bypassing the order book. Many crypto exchanges distinguish between maker and taker fees, making them more profitable for those who provide liquidity. However, trading fees on Flitpay are the same for all traders, they are 0.2% regardless of the order type, trading volume, and other factors. Here it is important to note the conceptual advantage of the platform. It does not have commissions for deposits, withdrawals, or transfers within the exchange.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Flitpay’s affiliate program:
The program provides three types of bonuses. The first bonus is one-time, issued upon registration in the program (250-500 FLT). The second bonus is provided when a new trader is invited (50-100 FLT). The third bonus is available permanently — whenever the referral makes a transaction.
The third bonus is 50% of the commission charged by the platform from the referral for each trade. This 50% is transferred within 24 hours to the account of the inviting user (that is, the user whose personal link the referral followed). Bonuses are transferred to FLT, they can be traded or converted into any other cryptocurrency.
User Satisfaction