BigBitMarket Review – Unregulated Scheme Under SVG Jurisdiction
BigBitMarket is already infamous on Trustpilot, Reddit, and other social media. Clients share their negative experiences with the firm, explaining how their money vanished in detail. We’ve investigated the firm and discovered it’s another offshore scheme. Read this BigBitMarket review and you will understand it all.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Big Bit Market Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About BigBitMarket Regulation?
BigBitMarket is owned by Big Bit Market Ltd, operating under the governing law of Saint Vincent and the Grenadines. Since this offshore island has no financial regulator, it’s the easiest for scam firms to claim they’re based there. However, there’s an FSA register where all the companies need to sign up and register the nature of the business. And it seems that Big Bit Market Ltd hasn’t entered this register.
Why Must a Broker Have a License?
A broker must have a license in order to provide a money-back guarantee to its clients. All Tier1 regulators, like FCA, ASIC, and BaFin, ensure that Forex firms have significant compensation funds to reimburse potential scam victims. Offshore regulators don’t go as far yet, still trying to set some ground rules.
BigBitMarket has no license whatsoever, meaning it doesn’t follow any rules and can easily steal your funds and disappear.
Traders Reviews About BigBitMarket Scam
The majority of BigBitMarket reviews are negative, showing what clients are going through with this firm. Here’s just one example.
“The lies they tell are incredible Lucas was my contact and all he did was try to convince me to put more money into my account. The investment options he suggested in hindsight we’re absolutely ridiculous.
They are crooks as simple as that.”– Trustpilot Customer
Supported Trading Platforms – Available Trading Software
As expected, BigBitMarket doesn’t offer any prominent platforms. In fact, there’s the most basic WebTrader you’ll ever see. Clients can overview asset offers, opened and closed trades, deposit more, and add several indicators. Nothing worth the money.
Which Platform Is Safer For Trading?
MetaTrader proved its value as one of the safest platforms on the market. If you’re about to start investing, we highly recommend you find a regulated firm with MT4 or MT5.
Everything About BigBitMarket Accounts
BigBitMarket has 5 account types.
- Trial – $250
- Passive Income – $10,000
- Portfolio Management – $50,000
- Retirement – $100,000
- Heritage – $250,000
Accounts differ in quality of support, leverage, priority withdrawals, etc.
Countries Where BigBitMarket Scam Operates
As per our review, the BigBitMarket trading scam is mainly active in:
BigBitMarket Range of Trading Instruments & Markets
The broker offers to invest in the following assets:
- Currency pairs
All this with unregulated leverage going up to 1:400 and spread starting at 0.9 pips for EUR/USD pair.
BigBitMarket Excessive Leverage
The firm offered leverage starting at 1:100 up to 1:400 and tailored one for the Heritage account. Knowing that the EU, UK, Australian, and other regulators around the globe limit leverage to 1:30 or 1:50 for the Forex market, you can already see how BigBitMarket is endangering your funds and making you lose your money quicker.
BigBitMarket Deposit and Withdrawal Methods
The company accepts the following payment methods:
- Credit card
- Bank wire
The minimum deposit is $250, while the minimum withdrawal amount is 100 units, depending on your account currency. The withdrawal fee is a minimum of 30 units and a maximum of 300 units per transaction. Clients cannot withdraw their funds if they have accepted any bonuses before reaching 50,000 times the deposit amount plus the bonus amount. It’s a ridiculous requirement made to prevent you from getting your money back unless you invest more funds and risk more.
Scammed by BigBitMarket Broker? – Let Us Hear Your Story
If you find yourself a victim of a BigBitMarket scam, let us know. Our chargeback specialists may be able to assist you with the refund.
But What Is A Chargeback?
Your bank can recover your funds in several ways, depending on the payment method you use. Chargeback is one of those with a time limit. You can request your money back within 540 days since the transaction occurred, so let’s not waste more time.
Contact us right away for a FREE consultation, and let’s recover your funds before it’s too late!
What Is BigBitMarket?
BigBitMarket is an online trading provider without a regulation. Therefore, it’s not recommended to invest your funds with such.
Is BigBitMarket a Scam Broker?
BigBitMarket has no financial regulation, meaning it operates illicitly.
Is BigBitMarket Available in the United States or the UK?
BigBitMarket provides its services in the UK but not in the US.
Does BigBitMarket Offer a Demo Account?
No, BigBitMarket doesn’t offer a Demo account, only Live accounts.