Pattern Trader charges a commission of about 0.1% on cryptocurrency trading, as well asETF News Icon20 other fees, for example, a 15% commission on margin trading profits, a 0.1% commission on bank transfers, and a high withdrawal fee for most cryptocurrencies available on the platform.
Taken together, all these fees do not make Pattern Trader one of the most competitive brokers for cryptocurrency trading, especially considering that other platforms like eToro do not charge fees for buying and selling assets.
Pattern Trader experiences and user opinions in Germany.
Pattern Trader users are quite satisfied with the platform, especially lately, as the Pattern Trader trading environment works really well and offers rates that are within the realm of possibility. However, some of them express doubts about the suitability of a platform that has had so many problems, especially after the recent scandal about the use of Tether, which was very opaque.
Is Pattern Trader a scam?
Pattern Trader is a reputable platform for trading cryptocurrencies. Therefore, it is not a scam. However, it must also be said that Pattern Trader has been involved in controversies and has been a negative player in the cryptocurrency market for several years. In addition to the hacks in 2015 and 2016 – the latter, as mentioned, is considered one of the largest in history – there has been another recent controversy over the possibly illegitimate use of its users‘ Tether. As a result, Pattern Trader has lost the trust of most investors in the cryptocurrency market.
Pattern Trader Test Conclusion – Our Evaluation and Recommendation.
Pattern Trader’s trading platform has improved significantly in recent years and ETF news icon18 now offers its users a trading environment where it is quite easy to identify the best opportunities on the market. Moreover, the platform offers the possibility to buy more than 40 different cryptocurrencies at quite affordable rates.
However, Pattern Trader’s rates are not among the best on the market, nor is its reputation among investors good. The provider cannot escape the fact that it was hacked twice in 2015 and 2016. Moreover, it is once again involved in a controversy over the opaque use of Tether on its platform.
For all these reasons, Pattern Trader is still far behind eToro as a trading platform for cryptocurrencies. eToro not only offers more competitive rates and no commissions for cryptocurrency trading, but also access to instruments such as stocks, exchange-traded funds, indices, foreign currencies, and commodities. Moreover, this provider has a world-leading social trading service. And while Pattern Trader has been steadily losing users over the past few years, eToro has continued to grow and is now used by over 20 million investors, establishing itself as the best and most comprehensive online broker in the world.