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Whaleclub Review

Name of Exchange
Whaleclub
Current Price (USD)
Check Now
Fee Schedule
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Deposit Method
Currency / Country
Fees
Bitcoin MIN.001btc MAX (Day / Month)unlimited
BitcoinWorldwide (no USA)
0.00%Near Instant
DASH MIN.001 MAX (Day / Month)unlimited
DASHWorldwide (a few countries excluded)
0.00%Near Instantly
Withdrawal Method
Currency / Country
Fees
Bitcoin MINNone MAX (Day / Month)None
BTCWorldwide (some countries excluded)
.001BTCWithin an hour
DASH MINNone MAX (Day / Month)None
DASHWorldwide (some countries excluded)
.001DASHWithin an hour
Leverage Trading Allowed
5x up to 222x

Overview

  • Company Name: SAS Global Trading Limited
  • Headquarters: British Virgin Islands
  • Official Website: https://Whaleclub.co
  • Established in: 2016

On Whaleclub, you can trade cryptocurrencies, Forex, metals, stocks, and bonds, and you can do it all with Bitcoin or Dash.

If you have experience with retail trading online, you know that there are a lot of inconveniences and hassles that go with the territory. Deposits and withdrawals can be slow and expensive. Execution can be slow and unreliable. There may be issues involving regulations and territories. Basically, a lot of different factors can stand in the way of a smooth trading experience, even though retail trading sites were designed to make trading easy and accessible.

Whaleclub is a website which was created to solve some of these problems.

Because you are trading with a cryptocurrency of your choice, a lot of the hassles that plague traders at traditional fiat-based websites are avoided altogether. Deposits can be near-instantaneous, you get low-latency execution, and there are spreads as low as 0.0001.

Who Should Use Whaleclub?

If you want a private way to trade crypto or to use bitcoin to fund your trading you should consider joining the WhaleClub. Whaleclub is a great choice if you are looking for a website for trading FX, commodities, stocks, and bonds, and happen to have a lot of your money in Bitcoin.

But you might also consider it if you are fed up with the expenses and hassles associated with trading on other retail sites. Because Whaleclub is so affordable, fast and accessible, it may even be worth it for you to go out and buy Bitcoin (if you don’t already own some) simply so you can trade here.

Is Whaleclub Legit? Is Your Money Safe at Whale Club?

Yes, Whaleclub is legit.

If you look at the user agreement on the website, down at the bottom there is a statement that the business is governed under the laws of the British Virgin Islands under the International Business Companies Act of 1994, and that furthermore, “You submit to the non-exclusive jurisdiction of the courts located in the British Virgin Islands for the resolution of any disputes.” In other words, if you have a dispute, in theory you can take the company to court and receive fair arbitration from BVI authorities.

There is an email address specifically for regulatory compliance issues, so you can contact compliance@whaleclub.co with specific questions. Unfortunately, Whaleclub does not take customers from the USA.

You can also look up Whaleclub independent comments online (like at the bottom of this review), and you will see that the company has received dozens of great reviews from traders around the world. Finally you can reach the executive team at their linkedin profile.

Full Whaleclub.co Review – Facts, Details and What You Should Know

Now that you have been introduced to Whaleclub, let’s take a closer look at what they have to offer traders.

What Types of Trading Are Available?


As mentioned earlier, on this site, you can trade currencies, commodities, stocks, and indices (the full list is below). So there are plenty of opportunities here for traders in a variety of niches to make money.

Account Levels

There are no account levels on Whaleclub. The only types of accounts are real accounts and practice accounts.

When you register an account, you are immediately granted a demo account. You are then given the chance to walk through a quick tutorial right on the platform itself. I highly recommend doing this. It is interactive, takes only a couple of minutes, is actually the best how-to tutorial I have seen anywhere for a trading platform. By the time you are done with it, you should know exactly what you are doing.

Of course, that does not mean your strategies are sufficient to profit, which is why it is important to practice. Thankfully that is easy to do on Whaleclub, since you have that demo account all set up and ready to go the moment you log in the first time.

User Interface

In most respects, the user interface on this site is awesome. Again, the quick and easy tutorial makes it a breeze to find your way around. Opening and closing trades is almost absurdly easy. You can set a stop loss and a take profit, and you can close out of a trade manually anytime. You can do all of this in just a few clicks.

Actually, the simplicity of this interface and process rivals that of a binary options trading platform, but the functionality is akin to a traditional Forex platform. It is amazing to finally see a trading site get this right.

So where does the trading platform go wrong? Well, there is one thing wrong with it, and that is that it can be a little slow. If you click on a position to open the ticket for example, it sometimes hangs for a moment. Obviously this is not ideal. Though you can close your trades in a single click without even opening the ticket windows, which is great.

You can trade on margin if you want. What if you make a bad trading decision and you lose your account funds? Whaleclub uses a liquidation system which closes all your active positions so that you won’t end up with a negative balance.

The only thing I didn’t figure out while I was touring the platform was how to place a limit order, but Whaleclub definitely offers them, as there are FAQ pages detailing their use.

Security

What does Whaleclub do to protect the security of your funds?

  • Customer funds are kept in cold storage.
  • No software or automation is used in conjunction with withdrawal processing. All of it is handled manually.
  • All keys are GPG and AES-256 encrypted and are kept on offline computers.
  • All servers run the latest software, include DDOS protection, and feature automatic backups.
  • You have the option of setting up 2-factor identification.
  • Rate throttling systems and captchas prevent brute-force attacks.
  • All site traffic is encrypted.
  • Employees are subjected to background checks before they are hired, and undergo intensive training in security. They also all use multi-factor device authentification.

This system has proven its efficacy. Since the company launched the site, there have been zero security breaches of any kind.

Customer Support

The biggest drawback I can find with Whaleclub is the fact that there seems to be no easy way to reach the company. There is a comprehensive Help Center with articles and answers to questions, but no live chat or telephone number.

If you need help, visit the whaleclub homepage and at the bottom there is a ‘contact us’ link. This link opens up a help ticket submission screen where you can send them a message explaining what is going on and what issue you are having.

What Can You Trade?

The trading platform offers the following trading choices.

  • Market Order
  • Limit / Stop Order
  • Take Profit Order
  • Stop Loss Order
  • Trailing Stop

You can also utilize leverage of up to 222x on certain pairs.

Here are the trading pairs available:

  • BTC/USD
  • DASH/BTC
  • ETH/BTC
  • ETH/USD
  • LTC/USD
  • XMR/BTC
  • AUD/USD
  • EUR/GBP
  • EUR/JPY
  • EUR/USD
  • GBP/USD
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/JPY
  • USD/MXN
  • USD/TRY
  • Crude Oil (Brent)
  • Crude Oil (WTI)
  • Gold
  • Gold / EUR
  • Gold / Silver
  • Natural Gas
  • Silver
  • Silver / EUR
  • US 10Y T-Note
  • US 2Y T-Note
  • US 5Y T-Note
  • US T-Bond
  • FTSE 100
  • NASDAQ
  • Nikkei 225
  • Russell 2000
  • S&P500
  • Alphabet
  • Amazon
  • Apple
  • Coca-Cola
  • Facebook
  • Goldman Sachs
  • JP Morgan
  • Netflix
  • Petrobras
  • Snap
  • Starbucks
  • Tesla
  • Twitter

Countries Accepted and Blocked

Traders from more than 190 countries are allowed to participate on Whaleclub. The United States however is blocked, as are some other countries where trading is restricted in some way.

We can basically extrapolate from this to assume that any country where trading laws are particularly strict may be excluded. You can email customer service to ask whether your country is allowed or not.

Bonuses

30% Match Bonus

Bonuses

When you make your first deposit on Whaleclub after registering on the site, you become eligible to receive a 30% match bonus. You can qualify for this bonus regardless of whether you are depositing Bitcoin or Dash. There is no maximum amount.

This bonus is added to your balance in a gradual fashion based on the volume that you trade. In fact, you receive the payments on trades which you lose, so it is essentially a 30% refund on those trades, until you have received the full amount of the bonus. Anytime you are given bonus money while trading, a green Cashback notification will display in the lower right-hand corner of the trading platform.

Now, what is really cool about this bonus is that there are no strings attached. There are no turnover requirements. Any time you want to withdraw your money, you can, complete with the released amount of the bonus. Doing this does not cause you to lose your remaining bonus eligibility either, even if you withdraw all the funds in your account.

Why is this so noteworthy? Well, if you have traded on other websites which give out bonuses, you probably have noticed that they tend to be problematic. Most of the time, there are huge turnover requirements before the bonus is your money, and sometimes these requirements also tie up your own funds. You do not have to worry about this issue when you trade on Whaleclub.

Pros & Cons

Anonymous
Prices are transparent - no hidden fee's.
Free practice account
Customer service only via support tickets.
No USA traders allowed.

Verification

Types of Verification

None

Verification Process

Whaleclub does not require you to verify your identity at any time, because only cryptocurrency deposits and withdrawals are used.

If you have traded on websites which are fiat-based, you know the drill—before you trade or withdraw funds, you usually have to submit a slew of documents which prove your identity. While this is quite routine, it is a time-consuming process, and one which makes many traders uncomfortable.

Withdrawal Process

You can only deposit and withdraw from WhaleClub with bitcoin or dash. Easy, low fee’s and no limits.

Screenshots

Frequently Asked Questions

Can you buy bitcoin at Whaleclub?
No, this site is for trading only. You must purchase your Bitcoin somewhere else and then make a deposit (see our other reviews—there are a few sites we recommend for this purpose).
How do you withdraw?
Withdrawing could not be simpler. You just click on “withdraw” in the top right-hand section of your trading dashboard menu. You can then withdraw as much money as you want from your account. There are no withdrawal limits whatsoever.Withdrawals are processed manually throughout the day. While this may cause a brief delay, there is a good reason for it, and that is to keep automation out of the process, thereby securing your funds against hackers. Plus, this is still quite fast compared to withdrawals at traditional fiat-based trading sites, which often take days to complete.There are small withdrawal fees: 0.001BTC for Bitcoin withdrawals and 0.01 Dash for Dash withdrawals.
Is digital currency converted to fiat?
No, everything is stored as digital currency only. It never becomes fiat.

Final Thoughts on Whaleclub

Aside from the lack of customer support channels, I am very impressed with everything I have seen with Whaleclub. The user interface is amazing, the tutorial is excellent, and the features and functionality are great. It is clear to me that depositing, withdrawing and trading here are easy and affordable. The impression I get is one of transparency and simplicity. Even the bonus policy seems fair and reasonable. If you have been looking for the ultimate streamlined trading solution, Whaleclub may just be it.

Name of Exchange
Whaleclub
Current Price (USD)
Check Now

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Mark
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Mark

** I’d like to clarify this is based solely on my personal experience, and my intention is to help people that are new to the cryptocurrency trading environment providing an unbiased and objective review. My experience with Whaleclub.co was not good. Terrible to be honest. Here are some of the problems I had: The platform did not worked properly (although I believe they’re working on it); most of the basic tools/features are not available or do not work as intended; charts cannot be saved (that’s a big issue) and no support responses. If these were the only issues it would… Read more »

Jack
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Jack

I agree with this page. I’ve been a trader on Whaleclub for many months now and have had a good experience. The UI is top notch and the customer service is quite responsive relative to other sites where it takes months to respond to a ticket. Whaleclub has also some of the best reviews I’ve seen online, compared to other exchanges. It shows through their professionalism and handling of customers. Hopefully we can have more of this in the crypto industry!

John
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John

Your so full of shit. They dont reply what a fake ass comment.

Sam
Guest
Sam

STRAIGHT UP SCAM! BEWARE OF WHALECLUB! I´ve deposited my last savings in order to trade a little, just because the offer this 30% Deposit Bonus as stated on their website “Bonus payments are made on trades with negative profit and thus can be considered as a refund (up to 30%) on trades that don’t work out as expected. ” but guess what!?! I lost nearly everything and NO BONUS was applied ! The support doesn´t answer at all and this “COO Petar Zivkovski ” sent me a mail asking how i liked the experience of trading with whaleclub. I replied,… Read more »

John
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John

I agree and they stole $23K USD from me. Their support is non existent no matter what these fake ass reviews say, the real users know how this place operates. Im so livid with them . Im flying to Hong Kong.

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