Bitcoin Code Review: Is it a Scam or Legit?

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This post was most recently updated on October 1st, 2020

is bitcoin code a scam - Bitcoin Code Review: Is it a Scam or Legit?

Cryptocurrencies came into existence after the 2007 global financial crisis as a new form of currency or store of wealth that was not controlled by any government or financial institution. The first blockchain-based cryptocurrency was Bitcoin, which still remains the most popular and profitable. 

The volatile nature of the cryptocurrency market makes new and inexperienced users sceptical about trading.  Advanced cryptocurrency traders are still making huge profits from trading, but this can be a bit challenging for newcomers. 

We decided to do a review of Bitcoin Code aimed at answering all the question people have regarding this application, read on to find out how it works.


WHAT IS BITCOIN CODE?

Bitcoin Code can be described as an advanced trading software that performs trades with cryptocurrencies and make it easier for traders to make a profit. Bitcoin Code makes crypto trading more accessible to new users all around the world. Bitcoin Code can be described as one of the oldest crypto trading platforms, reportedly developed by Steve McKay in 2016. It has been said that Bitcoin Code is the most effective Bitcoin trading platform by bringing the Win rates for every trade performed to 93%; thereby showing that it is the best platform for new and experienced traders.

Bitcoin Code


HOW DOES BITCOIN CODE WORK?

  • Bitcoin code terms are simple; with a minimum deposit of just €250, traders can experience this innovative platform for themselves.  All the earnings can be converted to local currency and can be withdrawn to their local banks in the trader’s country. The minimum value allowed for depositing is €250, while the maximum value for depositing on the platform is €15,000.
  • Also, Bitcoin Code manages to use its time leap advantage by using lightning speed trade execution. Furthermore, all Bitcoin Code trading accounts are systematically connected to Virtual Private Servers (VPS) to make sure that the signals generated by the bot are executed in real-time, ensuring there is no time lapse at any rate.
  • A talented software developer and entrepreneur developed the Bitcoin Code trading software. The algorithm used for the Bitcoin Code was created based on actual trends that are common with the cryptocurrencies and stock market. After a comprehensive analysis, McKay instituted a way to fill a defect in the cryptocurrency trading sector.
  • McKay developed exclusive software that can predict and tell the potential trends arising in the global markets. By combining the huge volume of data and the latest technology, he was able to develop a cryptocurrency trading platform with the ability to perform very fast transactions to leverage the steep spikes or drops in the cryptocurrency prices.

FEATURES OF BITCOIN CODE

  • Verification Process

When compared with other crypto trading platforms available in the market, Bitcoin Code’s verification process is not complicated, and it is very quick. The trader needs to enter their name, email address, and phone number. The next step would be a verification email with a link to activate the new account that is sent to the user’s mail ID. After activating the new account, the next step is to make a minimum deposit and begin trading with the help of the user friendly platform.

  • Withdrawal of Funds

Bitcoin Code offers its traders the option of withdrawing funds daily. This means that the trader can set the auto trading feature to begin trading early in the morning, and by the end of the day, when they are satisfied with their profits can close the transactions and withdraw the funds. On average, any trader can earn from 1500 dollars to 13000 dollars daily.

  • Withdrawal Portal

Funds from the Bitcoin Code platform can be withdrawn anytime, and the withdrawal portal is available 24 hours daily. Furthermore, the withdrawal process will take a maximum of 3 working days, and if there are any issues, the trader can contact customer support for assistance.

  • Hidden Charges

Bitcoin Code does not have any hidden charges for its services. Moreover, the charges are clearly described for every user to read and understand. The trader should pay 13 percent of all the profits made on the trading platform. The balance funds are available for withdrawal at any time.

  • Brokers

After making the account registration and making a minimum deposit, the trader’s account is linked to a broker. The system displays a list of brokers showing different trading times. Further, there is no preference regarding the brokers because all the brokers offer the same profit margin for their customers.

  • Client’s Testimonials

Bitcoin Code’s Testimonial section offers more insights. Furthermore, several live videos of the users are available that cannot go unnoticed. The testimonial section offers new users the confidence to proceed with trades and to aim for higher profits. Over and above, it is best to start with a small amount for investing as it is mentioned by several people in the testimonial section.

  • Customer Support

In case of any difficulty or issues, the traders can get quick assistance by contacting the customer support which is very fast and responsive. The customer support system is active 24×7.


PROs and CONs OF USING BITCOIN CODE

PROs CONs
∙ Registering at Bitcoin Code is hassle-free. It just takes 20 minutes to register. ∙ Few trading platforms ask for a list of forms to be filled before registering an account.
Bitcoin Code has a higher win rate when compared to other platforms. ∙ Few platforms have poor performance.
∙ The Minimum Initial deposit is €250. ∙ Few platforms are not reliable when traders are trying to make deposits.
∙ Deposits can be made easily and quickly; the same goes for withdrawals. ∙ Few platforms take a lot of time to deliver the traders money; a long waiting period is involved.
∙ The verification system is fast and secure. ∙ Few platforms have a slow verification system.

 


HOW TO GET STARTED ON BITCOIN CODE

Bitcoin Code’s registration process is simple and straight-forward. After filling the basic information, traders will be asked to verify their Bitcoin Code account on their confirmation email. Once the account is registered, the trader needs to make a deposit and allow the Bitcoin Code robot to perform trades and start earning from the trades.

Quick steps to sign up and start trading –

  • Step 1 – Registration

Signing up on this platform is free. The trader needs to fill out the registration form with basic information, then confirm it through email and verify the account.

Official Bitcoin Code Registration

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  • Step 2 – Account Verification

When the account is verified and the trader has logged in, a popup window shows that their account has been linked to a broker account. Further, the website will prompt the trader to add funds to the trading account to gain access to the trading platform.

  • Step 3 – Depositing funds

When the trader clicks the deposit, a new window will open after depositing the money. The website displays the funds that the traders have deposited on their trading account. Further, the traders are offered payment options such as –

    • Visa
    • GeoTrust
    • MasterCard
    • PCI

From the available four options, the trader can choose one where they should be able to fund their account with a minimum of €250 and a maximum of €15,000. It is best to start with a small amount, and after gaining confidence, the trader can invest more money to get more profits.

  • Adjusting the settings
  • The next step would be to adjust settings and select auto trade. This is the last step where the traders inform the system exactly how they want the robot to trade. There are several cryptocurrencies offered on the trading platform, which include Ethereum ETH), ripple (XRP), and Litecoin (LTC). Traders of the Bitcoin Code can trade on Bitcoin and Ethereum.
  • The trading settings offered by Bitcoin Code are simple.  First, the trader should decide on the level of risk they are willing to undertake. Moreover, it is best to trade with caution because due to the volatility of the cryptocurrency market, the trader may lose money while trading in cryptocurrencies.
  • The trader can also set the trading to manual trading if they want to trade on their own, yet most of the people select the auto trade option which lets the robot to place the trades. The only thing the trader has to do is to select auto trading and click the trading size and the profit level.

HAS BITCOIN CODE BEEN FEATURED IN THE MEDIA?

There have been various rumors online that Bitcoin Code was featured on prominent celebrity television shows, such Shark Tank, This Morning and Dragons Den. We decided to investigate these claims to find out if they were true.

BITCOIN CODE AND SHARK TANK

Shark Tank is a renowned American TV reality series where hopeful entrepreneurs have a chance to pitch their business ideas to a panel of millionaire investors. These entrepreneurs only have a few minutes to pitch, with the hope that one of the millionaires will invest in their idea. There have been rumors that Bitcoin Code has been on a episode of Shark Tank. We can now confirm that these rumors are false. Bitcoin Code has never been featured on Shark Tank.

HAS BITCOIN CODE BEEN FEATURED ON THIS MORNING?

This Morning a popular British day time reality TV show. The show is broadcasted on ITV daily and it is hosted by Phillip Schofield and Holly Willoughby. There have rumors that Phillip and Holly endorsed Bitcoin Code on This Morning. However, we have found no evidence to substantiate these rumors.

HAS BITCOIN CODE BEEN ENDORSED ON DRAGONS DEN?

Dragons Den is quite similar to Shark Tank. It is also focused on entrepreneurs pitching their budding business ideas to a panel of millionaires. This panel then decides whose entrepreneurial idea is fit for investment. There have been claims that Dragons Den has endorsed Bitcoin Code and various other bitcoin related products. We cannot confirm that rumors are true.


HAS BITCOIN CODE BEEN ENDORSED BY CELEBRITIES?

With Bitcoin growing in popularity all over the world, there have been rumors and reports online claiming that Bitcoin Code was endorsed by a few international celebrities. We decided to investigate these claims to find out the truth.

ALEC BALDWIN AND BITCOIN CODE

Alec Baldwin is an award-winning American actor, writer, producer and a comedian. Alec Baldwin was hired by eToro, a brokerage tool designed for CFD and forex company, to appear in one of their eToro Ads. There have been claims that Alec Baldwin has invested in Bitcoin Code. While we can confirm that Alec has a keen interest in cryptocurrency, we could not find any evidence of Alec investing in Bitcoin Code.

HAS JAMIE FOXX ENDORSED BITCOIN CODE?

Jamie Foxx is a Grammy-award winning American actor, singer, songwriter and comedian. Jamie Foxx has been reported to show a keen interest in cryptocurrency, when he began promoting the token sale of Cobinhood. However, we have not found any proof that Jamie Foxx endorsed Bitcoin Code or any other cryptocurrency related tool.

FLOYD MAYWEATHER AND BITCOIN CODE

Floyd Joy Mayweather Jr. is an American professional boxing promoter and former professional boxer. Floyd is well-known globally and had a very successful boxing career. There have been rumors that Floyd has invested in Bitcoin Code over the last few years. However, we have found now evidence to support these rumors.


SOME TRADING TIPS FOR BEGINNERS

It’s important to do some research before trading cryptocurrencies. Crypto is a complicated and sometimes volatile market, and even experienced traders should proceed with caution before trusting their funds to a trading platform. 

Here’s the advice from our team of experts for anyone getting into crypto trading:

    • Do your own research on crypto trading

There is a vast amount of information available on the internet about crypto trading. The traders can find videos and tutorials on YouTube posted by professional traders who had revealed the secrets that have helped them to succeed with the software training tools offered by Bitcoin Code. The traders should learn the strategies that can be applied and start trading to make more profits.

    • Invest wisely

A bit of caution – it is not advisable for the trader to invest all their savings in trading cryptocurrency. They should invest only their spare amount to build passive income by trading cryptocurrencies.

    • Start with the minimum deposit

After the account registration process, the trader should add a minimum deposit of €250. If this goes well, the trader can make another additional deposit where the profits from the first trade can be reinvested in the trade. The chances are higher for making more profit when the trader’s investment increases. Starting with the minimum deposit helps the trader to study the trading system before they start investing real money in trading.

    • Withdraw after making a profit

Also, it is advisable to withdraw a small part of the money after making a profit. They can withdraw around 25% to 75% of the money after every successful trade. Since the cryptocurrency market is prone to volatility, this approach, to a certain extent, protects the trader’s funds and reduces the risk of losing money.

    • Never delay the payments regarding tax

The trader should never make the mistake of delaying the payments for tax. The trader should have the details about earnings and investment whenever it is necessary. Further, there are several accounting applications available in the market that can help the trader to calculate the tax or they can engage the services of a firm to avoid issues and problems.

    • Demo Account

Traders who are trading for a long time are quite skeptical when they get introduced to new trading tools. The demo account offers new and experienced traders the opportunity to get used to the actual features of the platform for trading without investing their real money. If the traders take advantage of the demo account, invest €250, to begin with, and withdraw their profits as and when they earn, they will be more successful.

Bitcoin Code


WHY BITCOIN CODE?

  • The trader need not be an expert in handling Bitcoin or computers as a trading platform is very easy to use. Anybody can configure the Bitcoin Code account, and from that point onwards, the robot executes all the work. 
  • Bitcoin Code offers excellent dividends to its traders, and it claims that it shares approximately 90% of the money generated to its traders. Having attracted traders globally, the amounts of money generated are truly enormous.
  • The trading features on the Bitcoin Code platform are said to be efficient and effective in artificial intelligence; this makes life easier for the traders to trade. Bitcoin Code remarks that what an expert analyst can do in several weeks it can do in a day.
  • As per our Bitcoin Code review, it offers customer service and a demo account for the benefit of its traders. Also, it charges €250 as a minimum deposit to start live trading. The demo account also offers the traders all features of the platform where the traders can gain experience without adding real cash. When they are confident, they can begin trading session in a live account.

Bitcoin Code


BENEFITS OF THE PLATFORM

The Bitcoin Code trading platform is used to trade cryptocurrencies. After the initial deposit of €250, the trader needs to configure the trading settings on the application.

  • Bitcoin Code is easy to set up

In comparison with the information that is found online about the need for special training before starting to trade in Bitcoin, our Bitcoin Code review reveals that it is easy to set up and can be used for trading immediately. The traders do not need to learn any form of programming; all they need is to get started in Bitcoin Code is an active email address, contact information, and a minimum deposit.

  • High Success rate

The chances of making huge profits are extremely high as the Bitcoin Code platform has been extensively tested for scam, and it makes sure the promises offered by Bitcoin Code are kept.With the trading trading tools from Bitcoin Code, the traders can access the vast cryptocurrency market by leveraging the position of the Bitcoin to trade and to make considerable profits.

  • Faster Transactions

If one wants to get the maximum profits as a Bitcoin trader, it is imperative to perform faster transactions when the prices are favorable. This is one of the major reasons why the systems offered by Bitcoin Code are very popular among the beginners and the experienced traders. The crypto trading software allows the trader to perform hundreds of transactions in seconds.

  • Customer Support

As per our Bitcoin Code review, the reason why Bitcoin Code is in high demand is because of its online support available 24×7 to the traders. The traders of the Bitcoin Code platform can get help in just a few clicks if they have any problems when they are crypto trading. The round the clock online customer support gives an assurance to the traders the confidence of trading in Bitcoin. Additionally, they also offer demo accounts to new users to practice trading.


OUR FINAL THOUGHTS: IS BITCOIN CODE LEGIT OR A SCAM?

  • The Bitcoin Code auto trading platform is intuitive and is extremely easy to use. The traders should be aware that there is a small fee if they decide to withdraw funds through a direct wire transfer; otherwise, it is safe to say that Bitcoin Code seems to be a legit crypto trading interface.
  • The user-friendliness of the software had made it accessible to more traders enabling them around the world to invest their money and earn profits. As per the trading software, the trader only needs to open an account by depositing €250; the user can sit back and watch how the software runs. The traders can watch how the traders are executed, collect their profits, and withdraw them in their local currency to their bank account.
  • One of the most important features is the trader need not know how to use Bitcoin; all the accounts are settled in cash. Several experienced traders are allegedly generating passive income by this method and using them for improving their lifestyle.

Bitcoin Code


FAQs

  1. Has Bitcoin Code been endorsed by celebrities?

There are rumors about celebrity endorsements of the Bitcoin Code trading platform. Recently, Elon Musk had voiced his support for Bitcoin and other cryptocurrencies. Suffice to say, Elon Musk confirmed that he does not endorse the trading robot offered by Bitcoin Code.

  1. How Does Bitcoin Code Operate?

Bitcoin Code trading system offers both manual and automated modes for the benefits of its traders. If a trader is a Bitcoin investor and they can mine Bitcoin on their own, they are free to implement their personal or acquired strategies. The trader can depend on the software’s autopilot and well-designed algorithm for executing their trades.

The problems associated with Bitcoin mining and its inability to use Bitcoin to make a payment have been eradicated by the Bitcoin Code platform, which is the most advantageous feature for its traders. The bot transfers and exchanges Bitcoin into the desired currency of the trader. The trader can operate or use it whenever they desire.

  1. What is Bitcoin Code?

Bitcoin Code is an advanced trading software that can detect the increase or decrease in cryptocurrency prices, which will help the traders to buy cheap and sell when the price goes up. Further, Bitcoin Code can also be used by the investors who want to trade on cryptocurrencies full time either with automated trading or with manual trading options. This has made Bitcoin Code the most accessible platform for every trader around the world.

  1. Is Bitcoin Code safe?

As per our Bitcoin Code review, the conclusion we arrived is, it is 100 percent legit and authentic. Further, since all the operations are handled by the platform to automate, it does not need a person to monitor it. The software can be changed between various currencies and exchange rates and offer more benefits for its users.

The winning ratio offered by Bitcoin Code is very high, and the testimonials given by the members about the daily investment returns are quite high. Moreover, the system complies with all internet safety and security standards. All the user’s data and accumulated earnings are safe.


Latest Bitcoin Price Predictions

Chamath Palihapitiya- $1,000,000 (by 2037)

Chamath Palihapaitiya is the co-owner of the Golden State Warriors and the founder of Social Capital. It is reported that his bitcoin journey started with a bitcoin investment made back in 2012. In 2013, it is claimed that he included bitcoin into his hedge fund, general fund and private account. Palihapitiya has predicted that the Bitcoin Price will reach $100,000 in the next few years.

In reports, he has said:

This thing has the potential to be comparable to the value of gold…This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly”.

Wences Casares- $1,000,000 (by 2027)

Wences Casares is the founder and CEO of Xapo, which is a Bitcoin Wallet startup. He is also reported to be a board member at Paypal, among other roles. Wences interest in bitcoin first started when high financial volatility hit his home country in, Peso, Argentina. Wences bought his first bitcoins in 2011. He has predicted that bitcoin will hit $1 million sometime before 2027.

John Pfeffer- $700,00 (no date provided)

John Pfeffer is a partner at London-based family office Pfeffer Capital. It has been reported that Pfeffer set a bold price target for bitcoin of $700,000. According to Pfeffer, bitcoin is the world’s first viable replacement for gold.

Jeremy Liew- $500,000 (by 2030)

Jeremy Liew is a partner at Lightspeed Venture Partners, which is renowned as the first investor in the social media app Snapchat. Liew has a long list of other investments including the multimedia company Beme, Varage Scale and Wallet Ledger. Currently, his net worth is estimated at approximately $2 billion.

It has been reported that Liew has said that the price of bitcoin can realistically reach $500,000 by 2030.

Mark Yusko-$400,00 (no date provided)

Mark Yusko is a billionaire investor and the founder of Morgan Creek Capital. It is has been reported that Yusko’s prediction for bitcoin is that it will be worth over $400,000 in the next few years. His statement has apparently made headlines for its grandiose scale. It has been reported that Yusko had the following to say about bitcoin:

“It’s just math. It is the gold equivalent…there are about 20 million Bitcoin available today. Gold today is about $8 trillion. That gives you $400,000. And that doesn’t include use cases that relate to currency,” Yusko said.

Roger Ver – $250,000 (no date)

Roger Ver is an early investor in Bitcoin and related blockchain startups. Born in the US and now with citizenship in Saint Kitts and Nevis, Ver started his business career with a computer parts business, MemoryDealers.com. By early 2011, Ver had begun investing in Bitcoin, now with a portfolio including startups like Bitinstant, Ripple, Blockchain, Bitpay, and Kraken.

In an interview with Jeff Berwick, for The Dollar Vigilante blog, Roger Ver said in October 2015 that Bitcoin “could very easily be worth $2,500, or $25,000 per Bitcoin, or even $250,000 per Bitcoin”. Ver’s estimate is based on the principles of supply and demand, which he believes creates great potential for Bitcoin as a store of value.

Anthony Pompliano – $100,000 (by 2021)

Anthony Pompliano is a well-known Bitcoin personality. He’s a founder and partner at Morgan Creek Digital, a crypto-friendly asset management firm for institutional investors. He has previously claimed that he holds more than 50% of his net worth in Bitcoin, showing his belief in the cryptocurrency.

Pompliano has predicted that Bitcoin will hit $100,000 by the end of December 2021. At the time of the prediction (February 2020), Bitcoin had just reached the $10,000 mark, meaning the currency would need a 1,000% increase — within just two years — to reach his target. His prediction would put the market cap of Bitcoin at more than $2 trillion.

Kay Van-Petersen – $100,000 (by 2027)

Kay Van-Petersen is an analyst at Saxo Bank, a Danish investment bank which specializes in online trading and investment. Based out of Singapore with an MSc in Applied Economics & Finance from Copenhagen Business School, Van-Petersen is an active Twitter user with no fear of speculating on tough topics like the prices of cryptocurrencies.

Van-Petersen believes that Bitcoin will rise to $100,000 per unit by 2027, according to a feature by CNBC news published in May 2017. As the man who successfully predicted Bitcoin’s flow up to $2,000 by 2017, Kay Van-Petersen’s most recent estimate, perhaps a little optimistic, suggests that Bitcoin would then account for 10% of the volume in the foreign exchange market.

Tom Lee – $91,000 (by 2020)

Tom Lee is Co-Founder of the market strategy firm Fundstrat Global Advisors, and a renowned bitcoin bull. Initially , he set a Bitcoin price target for $11,500 for mid-2018, and then increased it to $20,000 as the cryptocurrency’s intrinsic value increased. These targets were instead achieved by the end of 2017.

Tai Lopez – $60,000 (mid-term)

Tai Lopez is a well-known investor and online marketing expert, best known for a viral video he had filmed in his garage. He believes that if a small portion (1%) of the assets of millionaires globally is invested into Bitcoin in the upcoming months, the price of Bitcoin could justifiably grow to around $60,000.


Other Crypto Trading Applications

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Glossary of Terms for Trading Platforms

Terms Description 
Platform Fee Some trading platforms charge traders a fee to use the platform and access its tools. This may be a monthly or annual subscription fee. 
Cost per trade Cost per trade is commonly referred to as a base trade fee. This fee is charged to traders by brokers every time a trade is placed. Some brokers offer their traders discounts or charge a lower cost per trade for voluminous trades.
Margin A margin is the amount needed in an account to maintain a trade with leverage. 
Social trading Social trading refers to the interaction and exchange of trade ideas, signals and trade settings between the different classes of traders.
Copy Trading Copy Trading is commonly referred to as mirror trading and is a form of online trading that involves copying successful trading strategies/settings from other traders. It is commonly used by new, inexperienced traders and assists these traders in gaining experience. 
Financial instruments A financial instrument is basically proof of ownership or financial commodities of monetary contracts between two people, or parties. Within the money market, financial instruments are basically shares, stocks, bonds, Forex and crypto CFDs and other contractual obligations between different parties.
Index An index tracks and measures the performance of financial instruments on the financial market. 
Commodities Commodities commonly refer to raw materials that are used in the production of agricultural goods. Some of the common commodities on the financial market is oil, gas, corn, coffee and precious metals. 
Exchange-Traded Funds (ETFs) An ETF refers to funds that can be traded on exchange. The fund is a basket containing multiple securities such as stocks. 
Contract for difference (CFD) CFDs refers to a form of contractual trading that involves speculating the performance of a specific trade on the market. This includes stocks, commodities and cryptocurrencies 
Minimum investment A minimum investment is the amount charged to activate live trade. A minimum investment is usually only charged once and is only required once a trader has registered and agreed to commence live trading. 
Daily trading limit A daily trading limit is a setting that can be activated on a trading platform to control the lowest and highest amount that a security is allowed to fluctuate, in one trading session, at the exchange where it’s traded.
Day Traders  Day traders only open and close trades during the day. Forex traders are usually referred to as day traders. 
Arbitrage Arbitrage refers to the simultaneous purchase and sale of an asset in order to make a profit from a difference in price. 
Broker Brokers are commonly individuals or a company that handles trading transactions on behalf of a trader. Brokers usually assist in making the trading process easier. 
Carrying Charge Commodities such as grains and metals, the cost of storage space, and financial charges incurred by holding a physical commodity.
Cash commodity  A physical commodity that someone is selling. Such as, gold or silver. 
Day order The purchase and sale of a futures or an options contract on the same day, thus ending the day with no established position in the market or being flat.
Deferred Month The more distant month(s) in which futures trading is taking place, as distinguished from the nearby (delivery) month.
Deliverable Grades The standard grades of commodities or instruments listed in the rules of the exchanges that must be met when delivering cash commodities against futures contracts. Grades are often accompanied by a schedule of discounts and premiums allowable for delivery of commodities of lesser or greater quality than the standard called for by the exchange.
Good till Canceled (GTC) An order worked by a broker until it can be filled or until canceled
Last trading day  The final day when trading may occur in a given futures or options contract month
Leverage Leverage refers to the ability to control large dollar amounts of a commodity with a comparatively small amount of capital.
Maintenance Margin A maintenance margin is the minimum value that you must keep in your account in order to continue to hold a position. The Maintenance Margin is typically less than the Initial Margin, and also differs by contract.
Margin Call A demand from a clearinghouse to a clearing member, or from a brokerage firm to a customer, to bring margin deposits up to a minimum level required to support the positions held.
Mark-To-Market (Marked-To-Market) A daily accounting entry that is the bedrock of regulated futures bookkeeping. It’s the end-of-day adjustment made to trading accounts to reflect profits and losses on existing positions. 
Pit The Pit refers to a specially constructed arena on a trading floor of some exchanges where trading in a futures contract is conducted.
Position A position refers to a market commitment. Usually a buyer of an initial futures contract is said to have a long position and a seller of an initial futures contract is said to have a short position.
Settlement Price This refers to the last price paid for a commodity on any trading day.
Spreading Spreading refers to the simultaneous buying and selling of two related markets with the expectation that a profit will be made when the position is offset. 
Spread  A spread refers to the price difference between two related markets or commodities.
Stop Order A stop order is commonly referred to as a stop loss order. It’s an order to buy or sell when the market reaches a specified point. A stop order to buy becomes a market order when the futures contract trades at or above the stop price.
Scalp Scalp refers to trading for small gains. Scalping normally involves establishing and liquidating a position quickly, usually within the same day, hour or even just a few minutes.
Open Order  An order to a broker that is good until it is canceled or executed.Other wise known as GTC.
Open Outcry A method of public auctioning for making verbal offers in trading pits.
Price Discovery Price discovery basically refers to information about future markets.It has been claimed that future markets is where original price discovery began. 
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