Bitopps claims to be a legit cryptocurrency trader, where you can select from a variety of CFDs on digital currencies like Bitcoin, Ethereum, Litecoin, Ripple, and Dash, offered with leverage of up to 1:10. They offer tight spreads, generous trading bonuses, and a choice of six account types to their clients.
Although the offer might seem tempting, you should be aware that Bitopps is operated by an unlicensed offshore firm, which means you shouldn’t be trusted them as a broker. Please read the complete Bitopps review below for more information regarding the Bitopps scam.
Bitopps Review – How safe is to invest here?
Bitopps has no regulations at all. The website can be found at https://bitopps.com/, but currently, it is not in use which is a major red flag. On its website, there is not a single piece of information about its regulated license, but it claims to be located in Suite 305, Griffith Corporate Centre, Kingstown St. Vincent, and the Grenadines which is an offshore region. As we previously stated, the cryptocurrency markets are highly volatile. In addition, there are many scammers out there who aim to take advantage of people’s general ignorance of crypto assets.
Trading Platform
Bitopps claims to be provide a web-based platform to their clients. Comparing this platform to the market leader Metatrader 5, which is feature-poor, it is rather weak. An important point is that automatic trading is not available at all. Although Bitopps’ platform offers a maximum leverage of 1:10 for crypto pairs, the broker is essentially nameless and is clearly run by scammers.
Customer Bitopps Reviews
Scam Helpers found that Bitopps got negative customer reviews and ratings on all other sites, and also got low trust scores among users. With this review and after reading all the negative and positive Bitopps reviews, we found that this broker is not regulated and might be a potential scam broker. To avoid these scams, we provide a list of scam brokers 2023 on our website.
Commitments of Ensured Benefits
Any moneymaking promises in the financial market come with a risk. Some brokers will attempt to let you know that their financier can assist you with turning ensured benefits when you utilize their platform.
If you get attracted by such brokers, there’s a chance of getting scammed by them.
How does Bitopps Scam Work?
Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.
They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is Bitopps broker Legit or a scam: Conclusion
It is clear from the Bitopps review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from Bitopps and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by Bitopps? Scam Helpers can help
If you are a victim of the Bitopps scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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