Bybitft is a cryptocurrency trading platform that claims to offer a variety of features and services to its users. However, there are a number of red flags that suggest that Bybitft is a scam.
Bybitft is a relatively new company, having been founded in 2022. The company’s website does not provide any information about its headquarters or its management team. This is a red flag, as legitimate brokers are typically transparent about their operations.
Does Bybitft Have Any License?
Bybitft does not have any licenses or registrations from any financial regulatory authorities. This is a major red flag, as all legitimate brokers are required to be licensed by the relevant authorities in the jurisdictions where they operate.
Is Bybitft Regulated By Any Authority?
Bybitft is not regulated by any financial regulatory authority. This means that there is no independent body that can oversee the company’s activities and protect its customers.
Pros and Cons
- The minimum deposit is low.
- The trading platform is easy to use.
- The spreads are competitive.
- The leverage offered is high.
- The company is not licensed or regulated.
- There is no customer support.
- There have been reports of the company disappearing with customer funds.
How Does Bybitft Reach To Their Prey?
Bybitft targets its victims through a variety of methods, including:
- Social media advertising: Bybitft creates fake social media accounts and posts ads that look like they are from legitimate news organizations or financial experts.
- Email spam: Bybitft sends out unsolicited emails that offer free trading signals or guaranteed profits.
- Online forums: Bybitft members post fake testimonials on online forums and review websites.
The minimum deposit required to open an account with Bybitft is $250.
Bybitft’s trading platform is a web-based platform that is not very user-friendly. The platform lacks many of the features that are standard on other trading platforms, such as charting tools and technical analysis indicators.
The spreads on Bybitft are high, which means that you will pay more to buy and sell cryptocurrencies.
Bybitft offers high leverage, which means that you can control a large position with a small amount of capital. However, leverage can also magnify your losses, so it is important to use it carefully.
Packages and Products They Offer
Bybitft offers a variety of packages and products, including:
- A basic account that allows you to trade cryptocurrencies.
- A VIP account that offers higher leverage and better spreads.
- A futures account that allows you to trade cryptocurrency derivatives.
Withdrawal and Deposit Method
Bybitft offers a variety of withdrawal and deposit methods, including:
- Credit card
- Bank transfer
What Do Their Previous Traders Say?
There are a number of complaints about Bybitft online, including:
- The company has disappeared with customer funds.
- The company has refused to process withdrawals.
- The company has provided false or misleading information.
Summing Up- Why Should Not You Trust Bybitft
The red flags that we have discussed above suggest that Bybitft is a scam. You should not trust this company with your money.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Bybitft, you can get help from a crypto recovery service. These services can help you to track down your lost funds and recover them.
File A Complaint Against Scam Broker's
Bybitft is a scam broker that should be avoided. If you are thinking about trading cryptocurrencies, use a legitimate broker that is regulated by a financial regulatory authority.
We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have lost money to Bybitft, please contact us for a free consultation. We can help you to understand your options and find a recovery service that can help you to get your money back.
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