BitTrust, based in Switzerland, with a subsidiary office in Britain, claims to be among the nation’s top trading platforms, offering “the fastest and also most safe way of buying and trading bitcoin and other cryptocurrencies,” as well as “high returns with little risk in all market situations.” And BitTrust genuinely offers guaranteed profits, which sounds fantastic but is precisely the type of thing you’ll hear from scammers. Read this BitTrust review to learn why we don’t suggest this broker.
Not only is BitTrust not the “top trading platform” they claim to be, but they also have no legitimate license, we doubt they are headquartered in Switzerland or the United Kingdom, and their website has all the red flags of a scam.
License and Regulation
That’s the first warning sign that something isn’t quite right with BitTrust. As we previously stated, the site says to be based in Switzerland, with a London office. However, if that were true, BitTrust should also have been granted a license and approved by the Swiss authority FINMA and the FCA in the United Kingdom, which they are certainly not – we even checked the FINMA and FCA records and found no such firm.
In order to obtain a Swiss license, a broker must have a minimum capital of 20 million Swiss francs, the same amount as all Swiss banks, that also illustrates why only financial institutions such as Swissquote and Dukascopy Bank provide forex and CFD services in Switzerland. BitTrust is a complete scam that we strongly encourage you to ignore if you care about your funds’ security.
That is why we say the BitTrust website is practically anonymous – you should reckon that if you can’t verify the “broker’s” certificates by comparing them to data in the records of official regulatory authority you shouldn’t believe in it.
Issues With Cyber Security
If you try to use the broker’s so-called “staking services,” your suspicions that you are dealing with a complete scam will be confirmed.
“Firefox detects a possible security concern and blocked access to staking-bittrust.com.” Attackers may try and steal data such as credentials, emails, or credit card numbers if you visit the website. The problem is almost certainly with the platform, and it isn’t much you can do about it. Certificates are used by websites to establish their legitimacy. The warning says, “Firefox doesn’t trust this website because it utilizes a certification that is not authentic for staking-bittrust.com.”
Returns That Are Guaranteed
That’s yet another red flag that you’re dealing with a con artist. The website promises “great profits with low risk in all market scenarios,” and even guarantees your earnings. Take a look at this:
Just consider the fact that trading the CFD and forex markets, especially the famously volatile cryptocurrency markets, is not without risk, so any “broker” who offers anything like this is clearly trying to trick you.
Bonuses With Conditions
BitTrust, like most scam websites, promises supposedly significant trade bonuses, which typically come with conditions. To make a withdrawal request from a trading bonus, you must first meet a minimum trading volume requirement.
Not that such a requirement is even remotely reasonable, because legitimate firms will never limit your ability to withdraw money from the trading account, without any reason BitTrust has the right to amend its reward policy at any time. These benefits are prone to change and are time and conditions limited.
To receive your bonus, you must trade at least ten times the amount of the bonus for each $1 bonus. Only after all of the preceding requirements have been met and respected can the bonus be withdrawn. The website’s Terms & Conditions state that “any withdrawal of money from a trading account made before fulfilling the conditions of the bonus will be instantly annulled. That explains why, if you have a trading bonus, you will not be eligible to withdraw any funds.
This broker only aims to loot funds from traders. It has no competency to cater to the traders’ technical needs, You shouldn’t partner with this broker if you are thinking about it.