Is Bitopps a scam or legit broker? Read Bitopps Review
Bitopps is promoted as a cryptocurrency trading platform, which allows users to select from a wide range of CFDs on digital currencies like Ripple, Ethereum, Bitcoin, Dash, and Litecoin and offers a leverage of up to 1:10—all of which are very high given the volatility of the crypto markets.
The offer could be appealing, but it’s important to be informed that Bitopps is controlled by Rival Ltd, an offshore, unregulated firm, therefore you shouldn’t put your trust in them as a broker.
This broker’s website is bitopps.com, and it is located in Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent, and the Grenadines. This raises the issue of regulation. The regional authorities of St. Vincent and the Grenadines, as well as those in the Marshall Islands, Dominica, and some other offshore territories, simply pay no attention to the FX market. And for that reason, it is just unwise to trust offshore brokers.
Bitopps was blacklisted by three regulators: the British Columbia Securities Commission (Canada), the Financial Services and Markets Authority (Belgium), and the Ontario Securities Commission (Canada). Given that Bitopps is a very dodgy, unregulated, blacklisted, offshore broker, we strongly urge you to stay away from trading with the firm.
Possible scam activities of Bitopps
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Bitopps review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Bitopps Reviews and Complaints
Bitopps has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative Bitopps Review
After Searching internet you will find many negative Bitopps Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Bitopps reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by Bitopps? How to get your lost money back from Bitopps?
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Bitopps Review: Conclusion
To begin with, Bitopps is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging Bitopps as a possible scam in this Bitopps Review. Are you planning to trade with Bitopps and invest your money? Report Scam suggests you to read this Bitopps Review first.
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