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
- No
- MetaTrader5
- VARA
- AFSA
- NBG
- MiCAR
- 2018
Our Evaluation of Bybit
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
Bybit is one of the top brokers in the financial market with the TU Overall Score of 8.5 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bybit clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
Overall. Bybit offers seamless Forex integration with crypto infrastructure, automatic leverage allocation, and MT5 support with Expert Advisors. The platform is suitable for users familiar with trading basics, as well as beginners and algorithmic traders.
Brief Look at Bybit
Bybit is one of the world’s largest cryptocurrency exchanges. In 2024, it expanded into Forex trading through the MetaTrader 5 (MT5) platform. Users can trade over 100 contracts, including currency pairs, metals, oil, indices, and other commodities. Trading is offered with fixed leverage of up to 1:500 and commissions ranging from $3 to $6 per lot. The platform supports both hedging strategies and Expert Advisors (EAs). Bybit is regulated by the Astana Financial Services Authority (AFSA) in Kazakhstan, holds a preliminary license from the Virtual Assets Regulatory Authority (VARA) in Dubai and secures MiCAR license from Austria’s Financial Market Authority (FMA).
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- Access to Forex and CFDs without the need for third-party broker verification;
- Support for trading via mobile and desktop MT5 versions;
- Leverage up to 1:500 on most contracts;
- Transparent commission and spread calculation system;
- ECN model with ultra-tight spreads and fixed lot-based commissions;
- No minimum deposit requirements;
- Free demo account for virtual trading.
- No multi-currency accounts;
- Limited passive income options in the Forex market.
TU Expert Advice
Author, Financial Expert at Traders Union
Bybit provides access to Forex trading through the MetaTrader 5 platform, offering a diverse range of assets, including over 60 Forex currency pairs, metals, and commodities. With maximum leverage up to 1:500, Bybit allows both novice and experienced traders to operate with flexibility and convenience. The platform supports algorithmic trading via expert advisors and transparent fee structures, with low trading fees and no minimum deposit requirements. An added advantage is the integration of crypto wallets for seamless deposits and withdrawals.
However, Bybit presents some drawbacks, such as the absence of multi-currency accounts and limited passive investment options in Forex. The company, regulated by AFSA and VARA, lacks Tier-1 regulatory oversight, which may be a concern for risk-averse traders. The platform may be more suitable for traders comfortable with moderate regulatory coverage and those who prefer an extensive range of trading instruments.
Bybit Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | MetaTrader 5 (MT5) |
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📊 Accounts: | Real MT5, Demo |
💰 Account currency: | USDT |
💵 Deposit / Withdrawal: | Cryptocurrencies (via Bybit Wallet), payment systems, bank transfers, cards, P2P |
🚀 Minimum deposit: | No |
⚖️ Leverage: | Up to 1:500 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 lot |
💱 EUR/USD spread: | 0,1 pips |
🔧 Instruments: | Forex, cryptocurrencies, CFDs on indices and commodities |
💹 Margin Call / Stop Out: | Stop out: 50% |
🏛 Liquidity provider: | N/A |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Order execution: | Market |
⭐ Trading features: | High leverage, MT5 platform with hedging and Expert Advisors |
🎁 Contests and bonuses: | Yes |
Bybit provides access to Forex trading through the MetaTrader 5 (MT5) platform, offering a wide range of instruments including currency pairs, metals, indices, and commodities. Accounts are denominated in USDT, with deposits and withdrawals processed through Bybit’s crypto wallets. Maximum leverage is 1:500, and the minimum order is 0.01 lot.
Bybit Key Parameters Evaluation
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Trading Account Opening
To open an MT5 account on Bybit’s platform, follow these steps:
Go to the MT5 page on Bybit and click “Register.” If you don’t have a Bybit account yet, complete the registration process.
After logging in, revisit the MT5 page and click “Open MT5 Account.”
Accept the terms of use by checking the box, then click “Next.”
Create a master password for your MT5 account and confirm it, then click “Create MT5 Account.”
The system will provide MT5 login credentials, including an investor password. Click “Go to My Dashboard” to access your MT5 user account.
Regulation and safety
Bybit has a safety score of 4.4/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
Bybit Regulators and Investor Protection
Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
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Financial Services Commission of Mauritius | Mauritius | No specific fund | Tier-3 |
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Financial Services Commission of Belize | Belize | No specific fund | Tier-3 |
Bybit Security Factors
Foundation date | 2018 |
Negative balance protection | Yes |
Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Bybit have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Bybit with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Bybit RAW/ECN spreads
Bybit | Pepperstone | OANDA | |
Commission ($ per lot) | 3 | 3 | 3,5 |
EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
GBP/USD avg spread | 0,2 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Bybit. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Bybit Non-Trading Fees
Bybit | Pepperstone | OANDA | |
Deposit fee, % | 0 | 0 | 0 |
Withdrawal fee, % | 0 | 0 | 0 |
Withdrawal fee, USD | 0 | 0 | 0-15 |
Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Bybit offers simplified access to the Forex market. Traders can choose from two account types: real and demo.
Deposit and withdrawal
Bybit received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Bybit provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- USDT (Tether) supported
- Bank card deposits and withdrawals
- Wise transfers supported
- Bank wire transfers available
- Only major base currencies available
- Limited deposit and withdrawal flexibility, leading to higher costs
What are Bybit deposit and withdrawal options?
Bybit provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, PayPal, Wise, Payoneer, Skrill, Neteller, BTC, USDT, Ethereum.
Bybit Deposit and Withdrawal Methods vs Competitors
Bybit | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | Yes | Yes | Yes |
Wise | Yes | No | No |
BTC | Yes | No | No |
What are Bybit base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Bybit supports the following base account currencies:
What are Bybit's minimum deposit and withdrawal amounts?
The minimum deposit on Bybit is $0, while the minimum withdrawal amount is $0. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Bybit’s support team.
Markets and tradable assets
Bybit offers a limited selection of trading assets compared to the market average. The platform supports 132 assets in total, including 61 Forex pairs.
- Indices trading
- 61 supported currency pairs
- Copy trading platform
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by Bybit with its competitors, making it easier for you to find the perfect fit.
Bybit | Plus500 | Pepperstone | |
Currency pairs | 61 | 60 | 90 |
Total tradable assets | 132 | 2800 | 1200 |
Stocks | Yes | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products Bybit offers for beginner traders and investors who prefer not to engage in active trading.
Bybit | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | No | Yes | Yes |
Copy trading | Yes | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | No | No | No |
Customer support
Bybit offers 24/7 support for all inquiries. The website also features a form where users can submit suggestions and recommendations to help improve exchange operations.
Advantages
- 24/7 support
- Live chat on the website
Disadvantages
- Occasional delays in response times
Available communication channels include:
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Email;
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Phone;
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Live chat;
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Feedback form on the website;
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Telegram;
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Discord.
Contacts
Foundation date | 2018 |
---|---|
Registration address | Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, Mauritius |
Regulation | VARA, AFSA, NBG, MiCAR |
Official site | https://www.bybit.com/ |
Contacts |
+230 4892661
|
Education
Bybit offers specialized Forex trading education through the Bybit Learn platform. It features detailed guides, video courses, and live broadcasts focused on trading currency pairs and CFDs. Educational livestreams, hosted by professional traders, cover strategies and key aspects of Forex market operations.
Comparison of Bybit with other Brokers
Bybit | Eightcap | XM Group | RoboForex | TeleTrade | |
Trading platform |
MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 |
Min deposit | No | $100 | $5 | $10 | $10 |
Leverage |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
Trust management | No | No | No | No | No |
Accrual of % on the balance | No | No | No | 10.00% | 1.00% |
Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0.2 points |
Level of margin call / stop out |
No / 50% | 80% / 50% | 100% / 50% | 60% / 40% | 70% / 20% |
Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
No deposit bonus | No | No | No | No | No |
Cent accounts | No | No | No | Yes | Yes |
Detailed Review of Bybit
Bybit is one of the world’s largest cryptocurrency exchanges, launched in 2018. In August 2024, it introduced access to the Forex market through the popular MetaTrader platform, specifically the advanced MT5 version. Bybit MT5 users can trade a range of instruments, including Forex, metals, commodities, oil, and stock indices. Available instruments include 61 currency pairs, 6 metals, 13 commodities, 4 oil instruments, and 18 stock indices. Maximum leverage reaches 1:500, except for commodities, which are capped at 1:20. Trading commissions range from $3 to $6 per lot, depending on the asset class.
Bybit’s trading platforms:
MT5 — a functional platform available on Android, iOS, Windows, and macOS devices.
Bybit by the numbers:
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Launched in 2018;
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60+ million users globally;
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Available in over 195 countries;
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100+ available MT5 contracts;
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More than 60 Forex currency pairs;
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Maximum leverage is 1:500;
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Minimum deposit is 0 USDT.
Services offered by Bybit:
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Spot and margin trading in cryptocurrencies;
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Trading crypto derivatives — options and futures;
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Algorithmic trading using bots;
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Forex trading through MT5 terminals;
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Earn programs — staking, asset management, liquidity mining, and more;
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Crypto loans, including fixed-rate options;
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Over-the-counter (OTC) trading.
Promotions and bonuses:
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Welcome bonuses;
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Promotional campaigns;
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Airdrops.
Advantages:
Access to over 100 CFD contracts;
Trading available through the MetaTrader 5 (MT5) platform;
Hedging support for risk management;
Unrestricted use of Expert Advisors (EAs);
No fees for deposits, inactivity, or account maintenance;
Stable integration with crypto wallets for deposits and withdrawals.
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