The BitTrust Review will cover a fraudulent broker that doesn’t deserve even a bit of your trust. The whole bogus website business lacks key legal information.
It prompted us to write this review and warn traders about the shady underlying scheme. Read carefully to learn the shocking truth.
Furthermore, we strongly advise you not to invest in the bogus brokers FinuTrade, Metadoro, and Spartan Trade. If you want to save money, don’t trade with these unlicensed brokers!
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | bittrust.net |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | Switzerland & UK (allegedly) |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 10,000 GBP |
| Cryptocurrencies: | Yes – BTC, ETH, DOS… |
| Types of Assets: | Cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | Unavailable |
| Accepts US clients: | Yes |
BitTrust Is An Unlicensed Crypto Trading Scam?
Here’s the issue – the BitTrust broker claims to have offices in Switzerland and the UK. A bold statement from the dubious crypto merchant.
In order to operate in those countries, the entity has to be registered with the local authorities, i. e. the FINMA (Swiss) and FCA (UK). Unsurprisingly, BitTrust is nowhere to be found in their databases.
We also know nothing about the owner of this website. It’s virtually anonymous and can disappear with your money at any moment.
BitTrust is essentially a broker engaged in cryptocurrency buying and trading. At least that’s what the bogus website says. The truth is different – BitTrust is an outrageous online investment scam.
Reasons for Choosing a Regulated Broker for Trading
Without a Tier 1 license, BitTrust isn’t trustworthy. The aforementioned regulators have nothing on the broker and neither do other top financial authorities.
Hence, BitTrust doesn’t comply with ESMA/FCA rules for trading. For example, it implies that the broker can set leverage really high and way beyond the prescribed limit for crypto trading of 1:2.
BitTrust Software
BitTrust was pretty vague about its platform. “Most secured” and “world’s leading”? Turns out, the trading platform is a web-based terminal with very limited features and a rudimental setup.
You can use basic charts and calendars but that’s about it. Disappointing from BitTrust. It’s best you ditch this financial swindler and opt for licensed brokers with top-notch third-party platforms such as MT4, MT5 or cTrader.
What Financial Instruments Does BitTrust Include?
BitTrust offers only one trading asset – cryptocurrencies. Special emphasis was placed on Bitcoin, the most popular digital currency. Here are some of the coins that BitTrust offers:
- BTC;
- ETH;
- XPR;
- EOS;
- NEO…
We’re not sure about the exact number. Some can even be traded against regular currencies such as the euro or the US dollar.
BitTrust Service Countries
We hopped over to Trustpilot to see whether there were any trader complaints. The site was overloaded with them – 44 negative reviews. Here’s what one unfortunate victim had to say:
This company is an absolute scam always asking fir money I put it in £1700 to watch my account go up to nearly 30 k they blocked my emails… I’ve not had a penny back…
Trustpilot user, September 30, 2021.
Judging by the residence countries of users, it seems BitTrust defrauded traders from the following countries:
- United Kingdom;
- United States;
- Ireland;
- Norway;
- United Arab Emirates.
What’s more, we strongly recommend that you avoid the fraudulent brokers APM Capital, Auto FX Trade, and LionTrader.
BitTrust Types of Accounts – An Overview
Here’s an overview of BitTrust account types:
- Green – 10,000 GBP;
- Silver – 50,000 GBP;
- Gold – 100,000 GBP;
- VIP – 250,000 GBP;
- 1 Million Club – 1,000,000 GBP.
Each account type offers a personal account manager and guaranteed returns that range from 2% to 5%. Also, the minimum stake for each account is 25 GBP. The issue is that there’s no free demo account available.
BitTrust Promises a Guaranteed Return
Here we have a clear indication that we’re dealing with a scam. A broker’s job is to provide you with a reliable trading platform, good conditions, some education material and security benefits, not guaranteed returns.
Your job is to trade and it’s hard to determine how the market will move. Ask any expert and they’ll tell you that nothing is guaranteed, especially in the extremely volatile digital assets market.
BitTrust Deposit and Withdrawal Policies
BitTrust mentions credit/debit cards and wire transfers in the T&C policy. However, in reality, the broker accepts only payments made using cryptocurrencies. The whole “Payment procedure” section is a recycled text used for countless schemes.
Crypto transactions allow the scammer to remain anonymous while conducting its vile plot. The minimum deposit is atrociously high – 10,000 GBP. No sane broker would request that much. Providers make money from fees and commissions, not your initial deposit.
Scammers, on the other hand, try to get as much out of you as possible. Once they do, it’s gone with the wind.
BitTrust Terms and Conditions
There’s a shady bonus policy in the T&C section that will result in withdrawal issues and make your life a nightmare. Namely, BitTrust claims to offer attractive bonuses but doesn’t mention the amounts.
In this clause, the scammer says traders have “to perform a trading volume of at least 10 times for each $1 bonus” to be able to withdraw funds. Depending on the bonus amount, the required volume could technically reach insane levels, which will make withdrawals impossible.
Scammed by a BitTrust Broker? – We Want To Hear Your Story
It’s an awful thing if you’ve been scammed. Tell us about how it all went down. Your unfortunate experience could help turn this around and shut down the scammer’s operation.
Book a free consultation with us and we’ll hook you up with our team of experts that specializes in crypto tracing.
What Is the Chargeback Procedure?
Crypto transactions are pretty ticky. The payment first needs to be traced to a wallet within a crypto exchange. Then, a refund can be requested from the exchange.
You cannot do this on your own so you’ll need expert assistance. Our team is familiar with crypto tracing tools that could bring your hard-earned money back.
Here you can book a free consultation and find out what to do for a start.
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BitTrust is an anonymous scam broker that lied about being registered in the UK and Switzerland.<\/p>\n
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