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Bitaroma Review: An Advisory (Warning) from CONSOB

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Bitaroma Review: An Advisory (Warning) from CONSOB

An advisory from CONSOB is already out regarding using the Bitaroma trading platform. Over the past few weeks, the platform has failed to allow any withdrawals. Members are up in arms after bitaroma.net blocked withdrawal attempts. No one has seen a penny from the platform for the past few weeks. Apart from withdrawal issues, the platform is marred with other red flags. Here’s what you need to know in our detailed BITAROMA REVIEW.

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A Brief Overview of Bitaroma

Bitaroma claims to be a trusted destination for forex investments and trading on the homepage. Far from the truth, the platform is a dismal attempt at a trading platform. Without anyone having to withdraw funds, what’s the use of signing up?

Bitaroma Review: Pros and Cons

The platform even tries to hide the exact details of its trading platform. So no one knows the background and history of bitaroma.net. We have a platform attempting to fleece every penny from anyone who deposits with them.

And as such, we feel we have to expose the platform for failing to offer any meaningful investments. As a result, those who have signed up with the platform have lost faith in getting their funds back.

We can understand why naïve investors would sign up with the platform. Judging by the aesthetics of the platform, it seems like a plausible investment platform. But, far from it, this only means the people behind it have forex experience.

Most traders fail to do their due diligence when looking for a viable trading platform. Instead, members are likely going for a platform with an appealing website design. That’s why scam artists create enticing trading platforms.

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You have to research the platform first before committing funds. That’s the only way to guarantee safety when trading. So make sure to ask around and confirm what it’s like to trade with the platform.

If you ever want us to conduct a review on your behalf, kindly make contact. We would be happy to offer our transparent evaluation of any investment platform. It’s what we do, keep the forex scene safe from scam artists.

Advantages and Disadvantages of Bitaroma

There are several disadvantages of Bitaroma that investors must know. For one, the platform does an excellent job of disguising the red flags. Most of the trading features you find on the platform are risky features.

Before investing in any trading platform, a sane investor will weigh the pros and cons. That gives you an advantage in knowing what the platform is all about. As a result, you can mitigate risks and anticipate rewards.

Here are the pros and cons of bitaroma.net;

Accounts and tires Bitaroma

There’s no information on the available account types of features. Instead, we get from the homepage are titbits of what to expect once you sign up. And that’s one of the red flags that we must expose.

For any trading platform, members must know the available minimum deposit. That means having to check the amount required to open an account. However, the platform in question leaves out this information for a reason.

Accounts Bitaroma

Once you sign up, the platform will claim that the more you deposit, the higher your chances of winning. That’s not the case, as the platform fails to offer any legit minimum deposit. You might get a call urging you to deposit over $1,000 with the platform.

Regulators have agreed on a standard minimum deposit. The minimum acceptable deposit in all jurisdictions is €$250. Any platform asking for more than that is taking investors for a ride. So we have to expose this amount to the investor who doesn’t know.

Account features

You won’t get any information on the account features to expect. What we see is the maximum acceptable leverage set at 1:150. That’s not a perfect way to start trading as the platform continues to take advantage.

Regulators, too, have come up with ways to protect investors. The platform seems to weigh the possible ways of putting your trading position at risk. For example, regulators insist on a maximum leverage of 1:100 for all assets.

Any platform asking for less than that is taking advantage of investors. So we have to come out and expose such trading platforms. The platform takes full advantage as it earns more commissions with losing trades.

There’s also no mention of a demo account anywhere on the platform. You would expect the platform to offer a demo account to investors. That’s not going to happen with bitaroma.net. You have to open a live account immediately after you sign up.

Available assets and trading instruments

No mention of the available trading instruments on the platform. And that puts your trading at risk. The platform ought to inform members of the available trading instruments. Before signing up, you must know the different classes of assets.

In a normal trading platform, there are five classes of trading instruments. These include commodities, crypto, forex, indices, and stocks. One thing’s for sure, the platform in question doesn’t offer crypto trading.

Crypto trading is a perfect asset as the market is ever volatile. The leverage for this asset is a bit higher than the other four. And this is why investors are turning to crypto investments due to the increased chances of winning.

Banking and withdrawals

Despite claiming to offer quick and easy deposits, that’s not the case. The platform fails to allow withdrawals. Once you fund your account, the balance reflects in your trading account within 24 hours.

You can then immediately start trading and earn some profit. However, when the time comes to withdraw funds, all hell breaks loose. The platform will later chicken out after days of sending requests.

Most of the members who sent emails are now having trouble signing in. It seems the platform has blocked access to their accounts. And that means members don’t have access to their account balance.

Is bitaroma.net Licensed or Regulated? NO

Bitaroma License and Regulation

Bitaroma faces several advisory warnings from CONSOB. This is after several members lost funds following the blockade from bitaroma.net. Ensure you check with regulators to confirm which platform is not regulated.

Business holder

There’s little information to suggest who owns or runs the platform. It makes Bitaroma an anonymous investment platform. These are some reasons why we have to expose the platform for failing to offer such information.

Without the information of who’s running the show, there’s a high-security flaw. Members don’t know who to hold responsible for funds. Members who hire recovery agents end up losing more. These agents don’t have the power to freeze bank accounts belonging to the platform.

Contact and support

Don’t expect any contact or support once you sign up with the platform. The platform seems to have failed in its attempt to deliver any form of support. A legit trading platform will try and offer live chat support.

Deposit and fund safety Bitaroma

Your funds are far from safe, with a platform failing to offer any form of insurance cover. No member gets the chance to have their deposit insured by the platform. There’s no segregation of accounts as the platform holds all funds in a single bank account.

Are funds safe with Bitaroma? NO

Final verdict

Please stay away from Bitaroma.

PS: Join thousands of successful traders who use leading investment options.

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