Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Bybit Pros & Cons
- 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;
- Low leverage;
- Limited passive income options in the Forex market.
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).
TU Expert Verdict
I can confidently recommend Bybit — it is a highly trusted company that I have personally tested and verified. Its trading conditions and user feedback show that most traders are satisfied, and my own experience confirms its solid and consistently reliable performance.
Top-5 Brokers Traders Prefer
Bybit User Reviews
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5-star
82%
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4-star
10%
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3-star
7%
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2-star
0%
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1-star
0%
I did not find any weakness
Bybit is a great cryptocurrency trading platform that offers a variety of tools and features for all types of traders. It has an easy-to-use interface, strong security, and a wide range of trading options. Bybit constantly updates its platform with new features, making it a top choice for traders who want to get the most out of the crypto market. Whether you're new to trading or have advanced strategies, Bybit provides a reliable and efficient place to trade.
Nothing
The Bybit designed for every level of crypto traders. the simple user interface has been helpful. I only have one concern but I cannot say it is an issue at the moment. This has to do with when i reached out with the customer care to inquire if i can trade futures. The response that i can trade a range of USDC-settled contracts including both USDC Perpetual and USDC Futures Contracts came, but when it did i was off my screen and attending to other things. Can't say if the slow response is due to network or other external issues. I don't know if it is too early to conclude that the customer service is slow.
I did not come across any weaknesses.
I've always been eager to find new and innovative ways to increase my profits while reducing risks. Recently, I decided to explore staking on Bybit and purchased some BTC for this purpose. Bybit's staking feature allows users to earn passive income by locking up their assets for a set period of time. To start staking, simply navigate to the web3 function and select staking. From there, choose the investment you wish to stake, review the interest rate, network and flexi-term options, then click stake. Cryptocurrency staking offers a way to earn money without actively trading or mining coins making it accessible to beginners. However, like all investments, it comes with its own risks. Staking has not only provided me with a reliable source of additional income but has also helped me diversify my portfolio. Bybit's staking mechanism is supported by strong security measures, ensuring the safety of your assets at all times.
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of Bybit have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, 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 OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.2 0.2 0.4 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 OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Bybit Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria4.4 /10Bybit 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
- Track record over 8 years
- Not tier-1 regulated
Bybit Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
FSC (Mauritius) Full Name Financial Services Commission of Mauritius Country of regulation Mauritius Investor Protection Fund No specific fund Regulation Level Tier-3 
FSC (Belize) Full Name Financial Services Commission of Belize Country of regulation Belize Investor Protection Fund No specific fund Regulation Level Tier-3 Bybit Security Factors Foundation date 2018 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.9.6 /10Bybit offers the following account options: Demo, ECN/Raw spread.
However, Bybit does not provide a Standard account, which can be a drawback for traders who prefer classic spread-based pricing models.
- Demo account
- Low minimum deposit
- Tight spread ECN account
- No Standard account option
- No Swap Free account
Bybit account types vs top competitors Bybit Plus500 OANDA Standard NoYesYesECN/Raw spread YesNoYesDemo YesYesYesCent NoNoNoMicro NoNoYesSwap Free NoNoYesVIP NoNoNoManaged NoNoNoBybit accounts trading conditions
Bybit offers simplified access to the Forex market. Traders can choose from two account types: real and demo.
Account Type Description Real MT5. An ECN account for trading currencies, indices, oil, metals, and other commodities in the Forex market. You can start with any amount by funding the wallet in your Bybit account. Commissions depend on the chosen instrument and are displayed directly on the platform. Demo. An account with virtual funds that can be used to simulate real trading. It is free to access. -
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7 /10Bybit 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.
- Bank card deposits and withdrawals
- USDT (Tether) supported
- Minimum deposit below industry average
- No withdrawal fee
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
- BTC not available as a base account currency
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 OANDA Bank Wire YesYesYesBank card YesYesYesPayPal YesYesYesWise YesNoNoBTC YesNoYesWhat are Bybit base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Bybit supports the following base account currencies: USDT.
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.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.3 /10Bybit 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
- Crypto trading
- Limited asset selection
- Futures not available
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 OANDA Currency pairs 61 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 132 2800 129 Stocks YesYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products Bybit offers for beginner traders and investors who prefer not to engage in active trading.
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Trading Account Opening
Score:We evaluated Trading Account Opening at Bybit by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with Bybit in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at Bybit is $0. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Account setup process may feel less convenient for beginners
Bybit account opening Bybit Plus500 OANDA Online Registration YesYesYesMinimum deposit $0 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 7 10 KYC time (days) 1 3 3 Is Bybit available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
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.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria6.6 /10Bybit received a score of 6.6/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- MetaTrader is available
- API access for automated trading
- Trade directly from TradingView
- One-click trading
- No access to Free VPS
- No access to cTrader and its advanced tools.
- Strategy (EA) Builder is not available
Supported trading platforms
Bybit supports the following trading platforms: MT5, TradingView, WebTrader. This selection covers the basic needs of most retail traders. We also compared Bybit’s platform availability with that of top competitors to assess its relative market position.
Bybit Plus500 OANDA MT4 NoNoYesMT5 YesNoYescTrader NoNoNoTradingView YesYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader YesYesYesKey Bybit’s trading platform features
We also evaluated whether Bybit offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts NoTrading bots (EAs) YesOne-click trading YesScalping YesSupported indicators 400 Tradable assets 132 Additional trading tools
Bybit offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
Bybit trading tools vs competitors Bybit Plus500 OANDA Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. NoNoNoAPI YesNoYesFree VPS NoNoYesStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoYesAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. NoNoYes -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria8 /10Bybit supports mobile trading, offering dedicated apps for both iOS and Android. Bybit received 8/10 in this section, reflecting strong user engagement and well-developed functionality. High ratings, solid download numbers, and the presence of advanced mobile features contributed to the high score.
- Solid iOS user feedback, with a rating of 4.7/5
- Indicators supported
- Strong Android user ratings, currently at 4.6/5
- Limited features vs desktop
We compared Bybit with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
Bybit Plus500 OANDA Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 10,000,000 10,000,000 1,000,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 4.7 4.7 4.8 Google Play score 4.6 4.4 3.4 Mob. 2FA YesYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at Bybit by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria9.7 /10Bybit demonstrates a high level of customer support. Assistance is available through multiple channels, and most requests are handled quickly.
During TU testing, managers responded promptly, communication was clear and structured, and support continued until the issue was fully resolved. Overall, Bybit shows reliable service and active engagement with clients.
InformationBybit 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.
- 24/7 support
- Live chat on the website
- Occasional delays in response times
Available communication channels include:
- Email;
- Phone;
- Live chat;
- Feedback form on the website;
- Telegram;
- 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 bybit.com Contacts support@bybit.com +230 4892661
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FAQs
What do safety reviews say about Bybit’s regulation and protection measures?
Bybit has a safety score of 4.4/10 in this review, which is described as a low security level. It is regulated by the Financial Services Commissions of Mauritius and Belize (both Tier-3 regulators), offers negative balance protection and requires KYC, but it is not tier-1 regulated and there is no specific investor compensation fund mentioned.
How are Bybit’s trading commissions and non-trading fees structured?
According to this review, Bybit’s overall fees are rated 8/10 and categorized as low, with low Forex trading fees, tight EUR/USD spreads, and no inactivity, deposit, or withdrawal fees. On its ECN/RAW account, the commission is $3 per lot, with average spreads of 0.1 pips on EUR/USD and 0.2 pips on GBP/USD during active hours, though these may widen during periods of higher volatility.
What types of trading accounts are available at Bybit and what are their main features?
Bybit offers a real MT5 ECN/Raw spread account and a demo account, both providing access to Forex and other instruments, but it does not offer Standard, Cent, Micro, Swap Free, VIP, or managed accounts. The real MT5 account supports trading in currencies, indices, oil, metals, and other commodities with commissions shown on the platform, while the demo account uses virtual funds for simulated trading.
How does the Bybit account opening process work according to user-oriented reviews?
The review notes that opening an account with Bybit is fully online, with a minimum deposit of $0, a registration time of about 7 minutes, and KYC verification typically completed within 1 business day. The process involves registering on Bybit, navigating to the MT5 page to create an MT5 account, setting a master password, and then receiving MT5 login credentials, although it is mentioned that the setup flow may feel less convenient for beginners.
What feedback is provided about Bybit’s mobile apps and their key capabilities?
The mobile section rates Bybit 8/10, highlighting dedicated iOS and Android apps with strong user ratings (around 4.7 on the App Store and 4.6 on Google Play) and advanced features such as indicators, trading alerts, and mobile 2FA. The review also notes that the mobile platform has fewer charting tools, which may limit more detailed technical analysis for some users.
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