Bitvos is a forex and CFD broker that claims to offer a wide range of trading products and services. However, there are a number of red flags that suggest that Bitvos is a scam broker.
In this article, we will take a closer look at Bitvos and explain why you should avoid it. We will also provide some tips on how to spot a scam broker and what to do if you have been scammed.
Company Overview
Bitvos is a relatively new broker, having been established in 2022. The company is registered in the Marshall Islands, which is a well-known offshore haven for scam brokers.
Does Bitvos Have Any License?
No, Bitvos does not have any license from any reputable financial authority. This is a major red flag, as regulated brokers are subject to strict rules and regulations that help to protect their clients.
Is Bitvos Regulated By Any Authority?
No, Bitvos is not regulated by any authority. This is a major red flag, as regulated brokers are subject to strict rules and regulations that help to protect their clients.
Bitvos Pros and Cons
Pros:
Bitvos offers a wide range of trading products, including forex, CFDs, and cryptocurrencies.
Cons:
- Bitvos is not regulated by any reputable financial authority.
- Bitvos has a history of negative reviews from its clients.
- Bitvos has been accused of being a scam broker.
How Does Bitvos Reach To Their Prey?
Bitvos uses a variety of methods to reach out to potential victims. These methods include:
- Online advertising: Bitvos advertises on a variety of websites, including social media and search engines.
- Cold calling: Bitvos employees cold-call potential victims and offer them the opportunity to open a trading account.
- Email marketing: Bitvos sends unsolicited emails to potential victims, offering them the opportunity to open a trading account.
Technical Details of Bitvos
Minimum Deposit
The minimum deposit requirement for Bitvos is $250. This is relatively low, which may make it appealing to inexperienced traders who are looking to get started with a small amount of money.
Trading Platform
Bitvos offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5. These are both popular platforms that are used by millions of traders around the world.
Spread
The spread on Bitvos is variable, but it is typically around 2 pips for major currency pairs. This is higher than the spread offered by many other brokers.
Leverages
Bitvos offers leverage up to 1:500. This is a very high level of leverage, which can be risky for inexperienced traders.
Packages and Products They Offer
Bitvos offers a variety of packages and products, including:
- A basic package that allows you to trade forex and CFDs.
- A premium package that offers access to more trading products and features.
- A VIP package that offers the most exclusive trading conditions.
Withdrawal and Deposit Method
Bitvos offers a variety of withdrawal and deposit methods, including credit cards, debit cards, wire transfers, and cryptocurrency.
What Do Their Previous Traders Say?
There are a number of negative reviews about Bitvos online. Some traders have complained about the high fees, the poor customer service, and the difficulty of withdrawing funds.
Summing Up- Why Should Not You Trust Bitvos
There are a number of reasons why you should not trust Bitvos. The company is not regulated by any reputable financial authority, it has a history of negative reviews, and it has been accused of being a scam broker.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Bitvos, you may be able to get your money back through a chargeback. A chargeback is a dispute process that allows you to get your money back from your credit card company if you have been scammed.
You can also file a complaint with us. We will evaluate your case and will provide you with a free consultation.
File A Complaint Against Scam Broker's
Final Thoughts
If you are thinking about investing with this broker. We recommend researching more and finding a trustworthy broker.
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