Bitcorp Investment Broker Review

The United Kingdom’s Financial Conduct Authority has issued a warning against Bitcorp Investment in October 2023

If you are looking for a reliable and trustworthy online broker to invest your money, you might have come across Bitcorp. Bitcorp is a platform that claims to offer various trading services, such as forex, stocks, commodities, cryptocurrencies, and more. But is Bitcorp a scam or a legit broker? In this review, we will examine the features, pros, cons, and reputation of Bitcorp to help you make an informed decision.

What is Bitcorp?

Bitcorp is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. According to its website, Bitcorp is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines and has a license number of 25675 BC 2019. Bitcorp claims to provide a secure and user-friendly trading environment for its clients, with access to over 250 assets, competitive spreads, fast execution, and various trading tools.

What are the features of Bitcorp?

  • A web-based trading platform that is compatible with any device and browser. The platform has a simple and intuitive interface, with advanced charting tools, indicators, and order types.
  • A mobile app that allows you to trade on the go from your smartphone or tablet. The app has the same functionality as the web platform and is available for both Android and iOS devices.
  • A variety of account types to suit different trading styles and preferences. You can choose from four account types: Basic, Silver, Gold, and Platinum. Each account type has different minimum deposits, spreads, leverage, commissions, and bonuses.
  • A range of payment methods to fund your account and withdraw your profits. You can use credit or debit cards, bank wire transfers, e-wallets, or cryptocurrencies. Bitcorp does not charge any deposit or withdrawal fees, but your bank or payment provider may apply some charges.
  • A dedicated customer support team that is available 24/7 via phone, email, or live chat. You can also find answers to common questions in the FAQ section of the website.

What are the pros of Bitcorp?

  • You can trade a wide variety of assets, including forex pairs, stocks, indices, commodities, and cryptocurrencies.
  • You can enjoy low spreads and high leverage on most assets, which can increase your profit potential.
  • You can benefit from various bonuses and promotions that Bitcorp offers to its clients, such as welcome bonuses, loyalty programs, referral bonuses, and cashback rewards.
  • You can access educational resources and market analysis that can help you improve your trading skills and knowledge.

What are the cons of Bitcorp?

  • Bitcorp is not regulated by any reputable authority, such as the FCA in the UK or the ASIC in Australia. This means that your funds are not protected by any compensation scheme or regulatory oversight.
  • Bitcorp has a negative reputation among online traders and reviewers. Many users have complained about Bitcorp’s poor customer service, delayed withdrawals, hidden fees, and aggressive marketing tactics.
  • Bitcorp does not offer a demo account or a MT4/MT5 platform. This means that you cannot test the platform or practice your trading strategies before risking real money.

Is Bitcorp a scam or a legit broker?

Based on our research and analysis, we conclude that Bitcorp is a scam broker that should be avoided at all costs. Bitcorp is not regulated by any credible authority and has a history of scamming its clients. There are many red flags that indicate that Bitcorp is not a trustworthy broker, such as:

  • The FSA of St. Vincent and the Grenadines is not a reliable regulator and does not enforce any strict rules or standards for online brokers.
  • The license number that Bitcorp provides on its website is fake and does not match any official records.
  • The address that Bitcorp provides on its website is also fake and belongs to a different company.
  • The terms and conditions that Bitcorp imposes on its clients are unfair and misleading. For example, Bitcorp requires its clients to trade a certain volume before they can withdraw their funds or bonuses.
  • The bonuses that Bitcorp offers are not free money but rather a trap to lock your funds in the platform.
  • The reviews and testimonials that Bitcorp displays on its website are fabricated and do not reflect the real experiences of its clients.

Therefore, we advise you to stay away from Bitcorp and look for a more reputable and regulated broker instead. There are many legitimate brokers that offer better services, platforms, and security for your trading needs.

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