Bitky Review 2023 – Bitky.io Is An Offshore Broker
As anonymous as it gets, this broker offers FX and CFD trading services for a couple of years. The first thing to remember, they are owned by Solar Ventures based in Dominica. This explicitly puts them in a basket of offshore scam companies.
Certainly, they are trading without a license for FX or CFD trading. It’ll all be explained in our Bitky.io review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Solar Ventures|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes – BTC, BCH, ETH|
|Types of Assets:||Forex, Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is Bitky.io a Scam CFD Broker?
Specifically because of the licensing, we can’t trust the Bitky.io broker. While many regulated brokers disclose their licensing as the primary security option, Bitky.io didn’t bother.
In the hope that they will surprise us, we checked the Tier 1 regulators database. However, there is no mention of Bitky.io in ASIC, BaFin or FCA registers.
Not only that Bitky.io is an offshore broker, but also completely anonymous. Transparency and security are not their main goals.
Reasons for Using a Regulated Broker for Trading
Ultimately, a regulated broker provides funds security in the first place. Moreover, they are obligated to comply with certain rules. That rules make traders more comfortable trusting their money with brokers. As shown above, Bitky.io trading company was not one of those trusted.
Bitky.io Software – Platform Tools
Usually, scam companies tend to at least pretend they are legitimate. To point out, the Bitky.io trading platform was just a web-based poorly designed option.
Consequently, they didn’t provide any advanced trading options like social or copy trading, advanced EAs or more sophisticated indicators. Whereas you have companies that offer trusted MetaTrader, we don’t see a reason to invest with a Bitky.io broker.
Trading For Mobile Devices
A huge downside of web trader is the lack of a mobile app. Above all, the point of trading is acting at the right time. Otherwise, you are wasting time and money. Without a reliable and fast trading app, whole trading with a broker becomes pointless.
Trader’s Reviews of Bitky
In case you check any Bitky.io review you will find a vast of negative comments. Not to mention that on Trustpilot there are already 98 reviews. Although only 40% are 1-star rated, we highly doubt those positive ones are real. Don’t fall for cheap tricks and look for another broker on time.
Bitky’s Trading Assets and Instruments
Regardless of licensing and bad trading platform, they have solid trading assets available. All 5 major fields are covered. For instance:
- Forex USD/JPY, AUD/NZD, EUR/SEK
- Commodities oil, gold, palladium
- Indices DAX30, FTSE100, DJI
- Shares Amazon, Tesla, Pfizer
- Cryptocurrencies BTC, ETH, XRP
With the intention to scam traders, they need to provide attractive assets. In addition to that, they have very high leverage that makes that easier.
Bitky Service Countries
As can be seen in Bitky.io reviews, they are scamming traders from:
- United States
- United Kingdom
- Czech Republic
However, that is just a shorter list. In general, since they don’t have any regulations they are not limited in any way. Therefore, think twice before investing with Bitky.io Broker.
Account Types Offered by Bitky
To emphasize the anonymity of this broker, we will just mention that they don’t provide account types. Even though, the minimum requirement is $250, after that everything is possible. Overall, offshore companies like Bitky.io try to extract as much as possible from clients. If they vanish, shame on them.
Free Demo Account
Given that these guys are here just to extort as much money as they can, they don’t offer a demo account.
By all means, their main goal is just to scam you for real money. Not to educate you about trading. In general, demo accounts are only suitable for beginners. That way they can familiarize themselves with the trading software and broker.
Bitky Affiliate Program
An affiliate program is often offered by scam brokers. Specifically, designed to lure more clients into their swindlers’ scheme.
Don’t fall for cheap promises and bonuses. Moreover, if the bonus is in the play, you know that you are getting scammed. Those are not allowed according to any EU regulation.
Bitky Deposit and Withdrawal Policies
Finally, something of interest to many readers. To put it another way, policies are non-existent. Important facts are AML and bonus policies that make withdrawals even harder. In the end, the broker will make up any possible excuse why not to release money.
Payment Methods Available
They accept card payments and crypto transfers. In general, we suggest clients use cards in the beginning because of a chargeback.
With illicit brokers like Bitky.io, that might be of use in case you are scammed. Unfortunately, other payment options and information are missing.
Scammed by a Bitky Broker? – We Want To Hear Your Story.
Don’t be ashamed if you got scammed by this broker. Surely, they lured you with a fancy advert with false promises. What you can do is share your story with us. Although that doesn’t mean much to you it can help other traders. For this reason, we have organized a fund recovery team. Contact us to assist you with a chargeback.
What Is the Chargeback Procedure?
A chargeback is a transaction-reversing process. Generally speaking, very powerful tool if you made transactions with a credit/debit card. In either case, it is time-limited. Therefore, don’t waste any more time and get in touch today!
What Is Bitky?
This is an offshore trading company operating since 2019 without any license for FX and CFD markets.
Is Bitky.io a Scam Broker?
Yes. Otherwise, there wouldn’t be so many negative reviews about this broker that are screaming it’s a complete scam.
Is Bitky Available in the United States or the UK?
Based on Bitky.io reviews we can conclude that they were targeting clients from both mentioned countries.
Does Bitky Offer a Demo Account?
No. Besides even less transparent live trading accounts they don’t offer a demo account.