What is Bloom Trading?
Bloom Trading is a US based cryptocurrency exchange that allows users to trade Bitcoin and Ethereum against USD. The company was founded in 2013 by two former Goldman Sachs traders, Timothy Tam and Stephen Ehrlich.
The exchange offers a variety of features including margin trading, OTC trading, and mobile trading. It also provides a wallet service for storing cryptocurrencies.
Bloom Trading has been consistently rated as one of the top exchanges in the US. It has a 4.5/5 rating on Cryptocompare and an 8.6/10 rating on CoinGecko.
The Different Types of Accounts Offered
There are three types of accounts offered by Bloom Trading: the Basic account, the Silver account, and the Gold account. The minimum deposit for a Basic account is $250, while the minimum deposits for Silver and Gold accounts are $2,500 and $5,000 respectively. All accounts come with a demo account and 24/7 customer support.
The main difference between the three types of accounts is the level of service and features provided. With a Basic account, you’ll have access to market analysis and education resources. You’ll also be able to trade in over 50 assets, including currency pairs, stocks, indices, and commodities. Silver and Gold account holders will enjoy all of these benefits, plus additional perks like dedicated senior account managers and VIP events invitations.
The Pros and Cons of Bloom Trading
When it comes to online trading, there are a lot of different platforms and brokers to choose from. So how do you know which one is right for you? In this Bloom Trading review, we’ll take a look at the pros and cons of this popular online broker to help you make an informed decision about whether or not it’s the right choice for you.
Pros:
-Bloom Trading is a regulated broker, so you can be sure your money is safe.
-They offer a wide range of assets including stocks, forex, and crypto, so you can find something to trade that suits your interests.
-Their fees are very competitive, and they even offer some commission-free trades.
Cons:
-Their customer service is not 24/7, so if you have any problems outside of business hours, you may have to wait a while for a response.
-They don’t have a mobile app, so if you want to trade on the go, you’ll need to use their website.
The Minimum Deposit and Withdrawal Amounts
The Minimum Deposit and Withdrawal Amounts are $250 and $500 respectively. The company does not charge any fees for deposits or withdrawals. However, there is a $10 fee for wire transfers.
The Fees Associated with Bloom Trading
When it comes to fees, Bloom Trading is very straightforward. For every trade that you make, you will be charged a flat fee of $2.50. There are no hidden fees or commissions, so you can be sure that you are getting a fair deal with every trade that you make.
Bloom Trading’s Customer Service
At Bloom Trading, we take pride in providing excellent customer service. Our dedicated team of customer service representatives are available 24/7 to answer any questions you may have or help you with any issues you may be experiencing.
We understand that when you’re trading, time is of the essence and you need to be able to rely on your broker to provide quick and efficient service. That’s why we aim to resolve all queries as quickly as possible.
Whether you’re new to trading or a seasoned pro, our friendly customer service team will be happy to assist you. So if you have any questions or need any help, don’t hesitate to contact us – we’re always here for you.
Conclusion
All in all, Bloom Trading is a decent online broker that offers some great features and tools for both beginner and experienced traders. While there are a few cons to using the platform, such as high fees for some services and a somewhat limited selection of tradable assets, these are outweighed by the many positive aspects of the broker. If you’re looking for an online broker that can provide you with a good experience and a wide range of resources, Bloom Trading is worth considering.