Bitinvestx Review (bitinvestx.com) FRAUD EXPOSED – Bit Investx Scam Broker

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Bitinvestx (bitinvestx.com)

Conclusion

Since it is lying about its licensing, does not offer a chargeback and has no trading platform, it is apparent that Bitinvestx is nothing more than a scam broker.

Broker Rating

0.1

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Bitinvestx (bitinvestx.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Bit Investx scam works by getting you to believe you can become rich by trading with them.

Bitinvestx

Cryptocurrencies have become immensely popular in the last few years and have drawn the interest of millions of people everywhere. Their volatility means that they are capable of generating massive returns and this has proven to be their biggest draw.

This has resulted in a high demand for crypto brokerages that allow people to try their luck in this space. But, not all crypto brokers are genuine, as the number of scams has also risen exponentially, as you will find in this Bitinvestx review. The lack of knowledge and the unregulated nature of the crypto market has made it a hotspot for criminal activity.

Every other day, you will come to know about a crypto scam happening, which should make you wary. As lucrative as the market is, there are too many frauds happening, so it is a given that you need to be careful when you are also thinking about delving into it.

You need to bear in mind that those that are being scammed are not the ones at fault in every case. These scammers and fraudsters go to great lengths to trick people into believing they are legitimate and regulated.

This is often the reason why the number of victims has only increased. Your goal should be to ensure that you are not falling for any tricks that scammers might use to draw you in. How can you do that?

The simplest way to go about it is to check every claim that a broker makes and the same should be done in the case of Bitinvestx that has been presented as a licensed and authorized crypto brokerage in several jurisdictions. Their website is an excellent example of the efforts that fraudsters make in fooling people because it seems to have done everything right.

But, when you check the details that Bitinvestx has provided, you will find just how misleading everything can be. Let’s go over the details.

Regulation and licensing

The first place to start checking the details of an online broker is with their regulation and licensing. It is not a good idea to choose a company that does not have a license to operate and is not regulated because it means they are not accountable to anyone, nor compliant with any laws and policies.

You will have no guarantees of security, transparent services, or even quality, which means you will be left vulnerable. You certainly do not want to opt for such a company and Bitinvestx claims to be the opposite.

According to the Bitinvestx website, it is authorized and licensed by the Financial Conduct Authority (FCA) in the United Kingdom, along with the authorities in Canada and Sweden. As impressive and promising as it sounds, you need to follow up and confirm everything.

The company name that Bitinvestx has mentioned on its website is indeed listed in the online register of the FCA, which may imply that it is regulated. However, it turns out that the company is not connected to Bitinvestx in anyway because it has a completely different domain address.

This means that Bitinvestx is running what is commonly known as a clone scam i.e. illegally using the details of a legitimate company. As far as the licenses in Canada and Sweden are concerned, you can check for those as well. You will not find Bitinvestxin the online register of the Investment Industry Regulatory Organization of Canada (IIROC), or in that of the Swedish Financial Supervisory Authority. Apart from that, you will find that Bitinvestx also claims to be authorized by an entity called Crypto Conduct Authority and has even posted a license certificate to back up this claim.

But, you should be aware that there is no such organization that exists and it is just an attempt by Bitinvestx to present itself as a regulated company when it is not.

Trading platform

You need to know what kind of trading platform you will be using when you opt for a broker because it will shape most of your experience. Your time will be spent on using the platform, so it is best to know if a capable and powerful one will be offered. The Bitinvestx website says that it is offering a web-based an advanced trading platform and you should take a look at it.

This is where you are in for a surprise because when you look for the trading platform on the Bitinvestx website, you will find yourself looking at a dashboard that is not functional. It just shows a bunch of crypto prices and gives you the option of making a deposit. There is nothing else that you can do on the platform and no trades can be made. It means that Bitinvestx is not offering a functional trading platform, so there can be no trading.

Trading conditions

The trading conditions are certainly relevant because your profits depend on them. You obviously want the best conditions that can help you keep your costs low and this is what Bitinvestx claims to offer. But, the reality is quite different. First off, it has not bothered to disclose its spreads at all. This lack of transparency is quite common in scam brokers and is a big concern.

When it comes to leverage, you will find that Bitinvestx is offering ratios as high as 1:20. This is just too much for cryptocurrencies that are already very volatile. The approved leverage for crypto is around 1:2, but Bitinvestx is going way beyond that.

Payment methods

Considering that it has presented itself as a crypto broker, it should not be surprising that Bitinvestx only gives you the option of making deposits in cryptocurrencies. It does offer a variety of cryptocurrencies to choose from, but this does not mitigate the risk associated with this payment method. Crypto payments cannot be reversed and are also anonymous, which means you don’t know where your money is going and are not going to get it back.

Conclusion

Since it is lying about its licensing, does not offer a chargeback and has no trading platform, it is apparent that Bitinvestx is nothing more than a scam broker.