Korbit is a cryptocurrency exchange that was launched in South Korea in 2014 to offer traders access to trade a wide variety of digital currencies, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Chainlink, EOS, Ethereum Classic, and more, using an intuitive trading platform that is available on both the web and mobile versions. Traders are allowed to exchange cryptocurrency for fiat money and vice versa. The Exchange also provides traders with a range of trading and learning tools, while a client support team is on hand to assist traders. No commission is charged on trades, and the least deposit required to operate an account is $1.
Korbit Review Introduction
In this Korbit review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers including Korbit.
Korbit Platforms & Tools
The Exchange provides traders with the Korbit trading platform, an in-house-developed platform that is built with advanced trading tools and capabilities, such as detailed charts with various indicators, limit orders, cold wallet storage, and helpful data to track profits and loss calculations. The Exchange makes the trading platform available as a WebTrader that can run directly on most modern web browsers without the need to download and install any application and a mobile that is compatible with Android and iOS devices and can be downloaded from the respective app stores.
The mobile app makes it possible for traders to manage accounts and place trades even while on the go, provided there is an internet connection. Traders can make use of some standalone trading tools, including Trade APIs and charts, to ensure a hitch-free trading experience.
Korbit Research & Education
The only educational resource on this Exchange’s website is the FAQ section, which contains answers to some of the most common questions that traders may have.
Korbit Trading Accounts
Korbit offers a single live trading account for trading the available cryptocurrencies. The minimum deposit required to operate an account is $1, and zero commissions are charged on trades.
Korbit Account Funding
Traders can deposit and withdraw funds to and from their trading accounts using bank transfers only.
Korbit Customer Service
Korbit provides traders with a customer support team that responds to the general, technical, or account-related inquiries that traders may have. They can be contacted during working hours from Monday to Friday (9 am to 6 pm) through telephone, Live Chat, and email.
There is no regulatory information on the Exchange’s website at the moment, which could discourage some potential traders and investors from opening an account with them.
Korbit Review Summary
Korbit is an online crypto trading exchange that is reputed as the first Korean Won Cryptocurrency Exchange. The Exchange provides traders with a proprietary trading platform that enables them to trade several digital currencies, whilst providing some helpful trading tools and educational resources on their website. Clients benefit from some favorable trading conditions, including a low minimum deposit of just $1, zero commissions, a 24/5 customer support team, and more. However, Korbit is not regulated by any known financial authority at the moment. Many experts and professional traders would not like to trade with an unregulated exchange as they cannot offer the same protection to investors that a regulated exchange can.
It is worth mentioning that some of the trading products and services in this Korbit review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Korbit broker website which you can visit by using the link below.
The trading of cryptocurrencies involves significant risk. Price fluctuations can occur which may increase or decrease the value of your assets at any given moment. Any currency whether virtual or not may be subject to large swings in value and may even become worthless. You should not risk an amount you cannot afford to lose.