Bit Forex Global Review: is a Horrible Scam

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Bit Forex Global Review: is a Horrible Scam

Bit Forex Global is a company that prides itself on a great experience. The entity is trading forex and cryptocurrency. They also assure investors of a satisfactory experience. Be wary of platforms that promise financial freedom overnight. After thorough research on the broker, we don’t see them fit to be in the market. 

Bit Forex Global Review

For starters, the entity has attracted the attention of a famous financial body. The authority warns investors against trading with the entity should not be taken lightly. Forget about growing your portfolio with the shady scheme. The security of your money should be your main focus. Never settle with an illegitimate venture. 

Trading various assets opens an opportunity to earn passive income. There are many reasons you would like to have an additional source of income. However, settling with the wrong company would leave you with a negative balance. Bit Forex Global lacks transparency. Hence, they fail to disclose the individuals running the scheme. 

Therefore, we do not know whether they are qualified. In most cases, scammers only design a beautiful website. Furthermore, they do not have what it takes to offer desirable results. Such ventures mainly target rookie traders. Review

Bit Forex Global claims it assigns an account manager to each client. The educational background of the said experts is nowhere to be seen. Do not blindly believe what scammers claim. Furthermore, the broker states it processes withdrawal on time. We cannot verify the claim as we are yet to see anyone that has earned using the entity. 

The company is providing free daily technical analysis. Are the strategies profitable? We wouldn’t know. The platform shies away from availing its performance report. They also don’t seem to have existing clients. The traffic visiting the website is questionable. This being a newly established firm, they should try to win over clients with verified statements. 

Moreover, Bit Forex Global is dealing with volatile assets. We do not know how the firm plans on surviving the market. The venture claims it has a demo account. Ponzi schemes tend to manipulate simulations. Therefore, it will appear you are winning and decide to open a live account. This is what the fraudsters are mainly waiting for to mint your funds. 

Why not register with top forex trading companies. These are ventures offering a superior trading interface. They are also transparent and reliable. Their support and the entire team are dedicated to helping clients have ideal experiences.

Trading Conditions of Bit Forex Global

Bit Forex Global has an affiliate program. Those that want to attain more benefits are encouraged to participate in the process. It is unethical to make someone sign up with an exposed scam. Once traders lose funds, the authority may come for you to promote investment services without their permission. 

The listed assets include; commodities, forex, and CFDs. The scheme has two investment accounts. The basic account features the following benefits; full access- which we have no clue what. All trades are available. Clients can withdraw commission every month. The plan comes with a secure return and an email account. It is unworthy to speak of the spreads and leverage, considering the entity is not trading.

The features are also applicable to the unlimited account. Bit Forex Global does not make any attempt to appear genuine. Furthermore, they do not discuss the platform available for clients. There are no charts or functioning software. What is the use of registering with the broker? Refrain from depositing with the scheme. 

Withdrawal and Deposits 

The minimum capital on the basic account is $100. Bit Forex Global has outrageous requirements for traders. For their Ultimate account, customers do not qualify to withdraw cash until their account has passed one year. This is unheard of, and this should ring a bell. The firm is a lethal scam. 

On the other hand, for the basic accounts, the withdrawal is made once a month. The majority of legit firms will process the cash-out request within a day. Moreover, it is only a scam that will hold your funds for a year. 

Bit Forex Global does not indicate the payment methods available. You will therefore need to contact them for you to invest. The possibility of the entity accepting money using methods limiting clients from issuing a chargeback is high. The broker does not have legal documentation. Without a binding contract, it would be impossible to sue them. 

Customer Support and Contact Details

The broker claims it has offices in the United Kingdom and Canada. Investors can reach the support via email. Needless to say, this is not a convenient communication method. The least an investment firm can offer is phone support to help resolve clients’ queries. 

Bit Forex Global is also faking its area of operation. They come up with random addresses. The entity is trying to remain relevant and be seen as a transparent firm. Scammers cannot risk exposing their area of operation. The authority would come after them. 

You should not entrust your data to the platform. Who knows what the con artists will do with it. Look for genuine investment brokers that provide legit contact details. The ones that understand the importance of having sound customer support. 

Regulatory Status of Bit Forex Global

The Investment Industry Regulatory Organization of Canada (IIROC) does not license the scheme. The scheme must obtain a license to operate and offer financial services or products in both Canada and the United Kingdom. The FCA blacklists the firm for illegally targeting citizens. 

Bit Forex Global is not segregating the accounts of traders. They have also not deposited a capital. The venture might not have enough money to run a business for all we know. Hence, they are likely to misuse the funds of clients. You should not the platform does not participate in a compensation scheme. 

If they exit the industry, you won’t recover a coin. Without terms and conditions, the broker can inflict hidden charges on customers. Another worrying factor is that nobody oversees the operations of the scheme. They can manipulate transactional reports. 

Trading with a company that has a license has multiple advantages. The trading conditions are per the requirements of the financial bodies. Therefore, the risks are, therefore, minimal. Additionally, in case of insolvency, clients can receive compensation. 

Is Bit Forex Global a Genuine Company?

Unfortunately, this is an insincere broker. The first red flag is they are running the business anonymously. Nobody knows their actual location. The entity is also in business illegitimately. It does not have a corporation overseeing its investment services. Review, Features

Bit Forex Global has recently been established. They fail to provide sufficient information regarding their activities. We do not know the risk mitigation measure being enforced. The scheme lacks a trading platform. No one endorses the entity. The lack of clients review shows investors are not interested in the entity’s bogus services. 

The scheme is also not working with a top-tier 1 bank. You won’t recover money deposited directly in the accounts of scammers. Hence, ensure you thoroughly research a company before depositing money blindly. 

Final Verdict 

Bit Forex Global will leave many high and dry. Their main target audience is novice traders. Forget about generating passive income with untrustworthy schemes. Furthermore, the entity is on the blacklist of the FCA. 

Here is a list of genuine forex trading companies. They have been in the market for years. The ventures are legally in the industry and abide by the set jurisdiction. The needs of customers are taken care of. If you have any challenges, you can count on the support assistance. 

No, the company does not have a license.

Unfortunately, the entity does not have enough funds to hire a professional team.

No, the broker is exposing traders to risk.

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