Digibits FX Review – These Scammers Don’t Know When to Quit
Digibits FX Review – These Scammers Don’t Know When to Quit

To call Digibits FX Boiler Room Agents annoying would be a compliment. These people are a constant thorn in your side, and will not let go until you use the magic word – withdrawal. In an instant, they are nowhere to be found.

The broker’s website is quite advanced, but full of contradicting information. This broker does not have any valid authorisation, and possesses no licenses. See the rest of our  Review to learn more about the Digibits FX Scam.

Regulated by:Unregulated
Is This Company Safe?No, Digibits FX is an illicit brokerage
Known Websites:DigibitsFX.Com
Have Warnings from:N/A
Registered in:N/A
Operating since:2021
Trading Platforms:Web Trader, MT5 (alleged)
Maximum Leverage:1:400
Minimum Deposit:$1 000
Deposit Bonus:N/A
Trading Assets:Forex, Stocks, Indices, Spot Metals
Free Demo Account:N/A
How to  Withdraw from This Company?Digibits FX is an unregulated company. In the case you have deposited money with Digibits FX, contact your bank immediately or seek 3rd party legal aid if a Chargeback through your bank is unavailable.

Is Digibits FX Legit or Scam?

Besides the alleged location of their Customer Service Office being in Ahmedabad, India, there is no other information on where this company might be operating from. There is a vague mention of the company being incorporated in St. Vincent and the Grenadines, but not much apart from that is given. Indeed, if Digibits FX were to be truly incorporated in SVG, they would still be an unlicensed brokerage. This is because SVG’s main financial regulator, FSA, does not regulate online brokerages anymore.

Why are the licenses so important? To begin with, without a valid license, the broker is not obliged to follow any legal restrictions or guidelines. This does not mean they are not subject to any repercussions, however. This is why it is very important to expose these scammers in due time, so that we may bring them to the attention of authorities.

To understand the risks of unregulated brokers, we need to review which safety measures have been implemented by reliable financial regulators. BaFIN from Germany is a so-called Tier-1 regulator. They have implemented various risk mitigation constraints to make Forex trading less risky for retailers.

In Germany, and in the rest of the EU the minimum starting capital for a brokerage is set at €730 000. The broker must implement a compensation scheme of €20 000. The leverage is limited to a maximum of 1:30, and Negative Balance Protection, as well as Segregated Bank Accounts are mandatory. Bonuses are forbidden, and the broker must offer full financial transparency. This is all further enforced by MiFID, which is supervised by ESMA.

We have checked the databases of many different Tier-1 regulators for any information on Digibits FX. They do not appear in the register of BaFIN, FCA, FMA, AMF, CONSOB, CMNV, FINMA, or ASIC. This is solid proof that Digibits FX is not a regulated entity, and that they provide their service with no authorisation.

Digibits-FX scam

Where Does Digibits FX Mainly Operate?

Digibits FX has their eyes set on the more well-off citizens of select Asian nations. This scam has been operating since 2021, and has managed to steal from a rather large group of people.

These are the countries that have the most Digibits FX victims:

  • United Arab Emirates
  • India
  • Sri Lanka
  • Pakistan

The scam heavily relies on what is known as Boiler Room Agents. These people are quite well versed in persuasion tactics. What makes Digibits FX worse than other such companies is that they openly recruit new Agents through their platform via the IB programme.

These Boiler Room Agents will make constant phone calls and try to encourage you to give them more money over and over again. They will claim to be aware of a very lucrative investment opportunity, or to be able to predict an incredible shift in market positions. For this purpose, they use WhatsApp, a chat application with a high level of security. It, in turn, protects the privacy of the Agent.

Traders’ Opinion Of digibitsfx.com

The bad thing about these scam companies is that they only get noticed after enough people have already been burned. Digibits FX is no exception to this rule, and we can see hundreds of people complaining about their bad experience. If you have been defrauded by Digibits FX or a similar forex scam, we implore you to share your experience online. Don’t be ashamed to let your voice be heard, and stop others from falling for the same trap!

Here is what the unfortunate clients of Digibits FX have to say:

They blocked my account and run away with my earnings. […]

If you want to spoil your life and money, then start training with Digibit.
I believed and lost everything, really I am feeling as stupid.

They are scam. They make withdrawals impossible; they cease replying after you make a deposit, and the website is no available. Total deception […]

Leverage, Commissions, Spreads, Fees and Taxes

Digibits FX leverage is very high for a Forex broker. We have seen that many Tier-1 regulators impose strict restrictions in this regard. Leveraged trading is inherently dangerous, and higher leverage may lead to rapid asset losses even with a regulated broker. Digibits FX allows a leverage of a whopping 1:400 for some of their account types!

The most expensive trading account with Digibits FX allows for raw spreads. Other account types offer spreads starting from 1.4, which is quite loose when compared to licensed brokerages. The most expensive account incurs an undisclosed amount of commission, which is unsettling.

Although this company claims that they don’t charge any fees for deposits and withdrawals, you shouldn’t believe this outright, as many fraudulent brokers don’t allow withdrawals. Those that do impose very steep withdrawal fees instead. Digibits FX claims that you may save up to 50% in trading fees over time, but 50% out of 0 is still 0. We can’t really grasp how this works with Digibits FX, other than it being a case of false advertising.

Digibits FX Trading Features

Some of the trading features you can see on Digibits FX seem very lucrative, at least at first glance. Once you pay attention you’ll see that all is not as it seems. The broker allegedly uses the most popular trading platform, MT5. This, as many other things about Digibits FX is a blatant lie. See the remainder of our Digibits FX Review to find out more about the tactics these swindlers use to attract clients.

Trading Software Overview

When you visit the Trading Platform overview page on Digibits FX, you will notice that this broker offers the world renowned Metatrader5. This platform can’t be said to work with Digibits FX, unfortunately, because their distribution of the software automatically redirects you to the MT5 demo server. The software is also labeled as “coming soon”, which is disconcerting. More on this later in our Digibits FX Review.

The other trading platform is the scammers’ all time favorite – the Web Trader. Now, you’ve noticed that other fraudulent companies such as Blockchain Solutions also use this software. It’s not because it’s practical, but because it can easily be repurposed to work with the scamming scheme. Swindlers can easily change the market information, making all your speculations seemingly unprofitable. In reality, you’re not trading at all – it’s all a sham to keep you investing more money.

Mobile Trading App

Both the alleged MT5 and the Web Trader are easily accessible through a mobile device. Metatrader5 has been created to feature a seamless mobile device integration. The Web Trader can be accessed directly through a Web Browser, and every phone and tablet today has one. Don’t let this fool you – this is done just to make you lose your money on the go, as you will constantly check the market info on your portable device.

Available Trading Assets

What gave us a good impression about Digibits FX trading assets is not in their number, or the availability, but how transparent the selection is. One click in the drop-down menu, and you get a nice table that contains all the assets across different categories.

The rest of the company is pretty shady, however, so take this with a grain of salt. One of the problems that Digibits FX has is the contradicting information pertaining to Cryptocurrency Trading. On one page, they offer Crypto assets, but they are not covered in the table we mentioned.

Here are the Trading Instruments Digibits FX has to offer:

  • Stocks – eBay, Amazon, Hewlett Packard, Bank of America
  • Indices – Dow Jones, Nikkei, Nasdaq, S&P
  • Spot Metals – Silver, Gold

Account Types

Digibits FX advertises only 3 different account types. This is probably done in an attempt by the scammers to appear legitimate. If you remember our previous reviews, 77markets has only 5 different account types.

Let’s compare the different accounts of Digibits FX now:

  • Standard – $1 000, leverage 1:100
  • VIP – $15 000, leverage 1:200
  • Raw – $50 000, leverage 1:400

No matter which account type you choose, you will be prevented from creating one if you don’t have Promo Code. Another alarming thing is that Digibits FX official statement is that they do not accept clients from the US, but an account creation page lets you proceed even when filled out with US citizenship information.

Can Traders Run a Demo Account?

As we have mentioned before, the MT5 trading platform that Digibits FX features is linked directly to the MetaQuotes Demo server. Although this is good grounds for practice, it doesn’t necessarily reflect the Digibits FX pricing. The Web Trader with this broker does not feature a Demo, so you can’t really test what Digibits FX brings to the table. Furthermore, it is unlikely that this broker has a demo of their own, and that the MT5 demo is simply a placeholder for their lack of an actual software license from MetaQuotes.


The Digibits FX partnership program is one of the shadiest examples we’ve seen yet. It’s a full blown Pyramid Scheme, plain and simple. You’d need to invite as many people as possible to invest with Digibits FX, and you split the profit from these new client’s revenue 80-20 with the company.

Other partnership options include a client becoming a master template for copy trading. If you ask us, it’s a recruitment strategy for Boiler Room Agents. These programs will teach people how to become more persuasive, and seek illicit means of making money.

Withdraw Funds

Digibits FX withdrawal policy is really nice, with instant execution during working hours. This is from Monday to Friday, from 09 to 18 hours. It’s a really nice story, but we know how Digibits FX handles their clients. 

Everything is all sunshine and butterflies until you want to withdraw. At that moment, your contact with the company will stop answering the phone, and your IP address will be blocked from accessing the website. The swindlers prevent any login attempts, and don’t answer emails.

Unfortunately we know all too well that these scammers don’t play nice. When your assets are in danger, you need to seek legal help before you lose it all.

Customer Support

Many of these fraudulent brokerages have only a superficial presence of any Customer Support. As we’ve seen earlier in our Digibits FX Review, your only solid line of communication to the company is through a Boiler Room Agent. When that line snaps, you’re pretty much on your own.

Digibits FX use a Live Chat that is linked through Whatsapp as their main Customer Support solution. The encryption on this quite ubiquitous program is rock solid, which helps protect the fraudsters’ anonymity. Other methods include a Contact Form, as well as a number of different emails.

We should remember that only the address of the Customer Service Office is mentioned on Digibits FX website. This address, if not fake, might be the only actual office of the company. You can now understand how the Boiler Room is the main part of the company propper.

What Are the Risks of Using Digibits FX?

Digibits FX is an anonymous Forex trading scam, and this is putting it mildly. We have seen how this company uses various deceptive strategies to squeeze out funds from their victims. We never recommend dealing with any broker that doesn’t have a proper license or authorisation from relevant authorities, and Digibits FX is one of these companies.

No matter how pestering or persistent their Boiler Room Agents are, they are just a bunch of charismatic and devious thieves. That said, you shouldn’t feel bad about being defrauded by these people. There are still ways to recover your money, and you should fight for it! Our team of legal experts has ample experience with cases just like yours. Contact us today through the Live Chat option on our website for the quickest response, and for an absolutely free first consultation. Let us help you as we have helped many like you in the past.

What Is Digibits FX, And Should I Invest Money In It?

Digibits FX is an unlicensed Forex scam company. If you have deposited money with this scam broker, seek our legal aid without delay.

Can I Trade Cryptocurrencies And CFDs With Digibits FX Broker?

Digibits FX does not feature Cryptocurrency trading through their platform. Many different CFDs are available for trade, although we do not recommend investing with this firm.

Does Digibits FX Give a Deposit Bonus When Opening an Account?

Digibits FX does not offer any deposit bonuses to their clients.


Leave a Reply

Please rate

Your email address will not be published. Required fields are marked *

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied