Main Bit Review – Stay Away From This Illegal Brokerage

If you haven’t noticed that this shady broker didn’t mention its owner or license, then it’s good that you’re reading the Main Bit Review. You were probably unaware of how big of a trap this broker really is.�

Nevertheless, that tiny bit of doubt that brought you here will save you hard-earned money. Let’s begin exposing this fraud!

On top of that, we seriously recommend you not to invest in the fake brokers SagaTrade, TriumphFX, and STB Markets. Do not trade with these unlicensed brokers if you want to save your money!

Main Bit Is Not a Legitimate Scam Broker?

Not at all, dear trader. There are plenty of reasons why. First of all, Main Bit is not your friendly, trustworthy provider with a license. On the contrary, we don’t know anything about who runs this operation and all three addresses provided are fake.

In addition, we found three warnings against Main Bit. Therefore, this isn’t a legitimate broker but an outrageous cyber scammer.

Main Bit is an anonymous scam broker that offers Forex, crypto and CFD trading. The provider, which has been blacklisted by several authorities, searches for targets in the UK, US, France, Canada and Germany.

Arguments For Trading With a Licensed Broker

You won’t last long in the financial market without a proper broker. By that, we mean one that operates under the jurisdiction and rules of top-tier regulators such as the FCA, ASIC or FINMA.

Trusting fraudsters like Main Bit won’t grant you benefits like negative balance protection, segregation of funds, leverage restriction, or a compensation scheme. That makes you an easy target. Also, your trading journey may end sooner than expected.

Financial Regulators’ Warnings

To spice this review up, we found a couple of warnings issued against this financial swindler. Yup, three renowned and unforgivable regulators put Main Bit on their blacklist.�

Interestingly, those three authorities oversee the market in the countries where the broker claims to operate. We’re talking about the FCA, FINMA and OSC.

Main Bit Provides Which Platforms? – Trading Software

Per the website, it’s the “most POWERFUL online trading platform.” In reality, it’s a simple WebTrader with limited features. Aside from basic charts and indicators, there’s not much else.

That’s what we know from experience. Since Main Bit doesn’t offer a demo account, we weren’t able to get a look at this web-based platform. Nevertheless, we would rather opt for top-notch platforms such as Meta Trader 4, Meta Trader 5 or cTrader.

Main Bit’s Webtrader Platform

It’s an online platform. Thus, it can be accessed via mobile as well. However, given Main Bit’s illicit status, we wouldn’t rule out the possibility of a rigged platform.

Scammers either persuade traders to let account managers run things or create fake profits to fool victims into thinking they’re really trading when they keep investing.

AnyDesk and TeamViewer Programs

Do not get fooled by these apps. They may be harmless per se, but they can easily be used to sow chaos by the scammer.

AnyDesk & TeamViewer can allow Main Bit to access your desktop. The scammer can then search all your files at any time to find info on your finances. That’s when it could get nasty.

Main Bit’s Trading Instruments

When it comes to trading instruments, Main Bit claims to offer quite a variety. You have your classic Forex trading, CFD options and crypto. Here’s an overview of instruments:

• Forex pairs – EUR/USD, AUD/CHF, GBP/JPY…
• Indices – S&P500, NIKKEI225, UK100…
• Commodities – gold, silver, crude oil…
• Stocks – Amazon, Netflix, Samsung, Volkswagen…
• Crypto – BTC, USDT, XRP, ETH…

While it may seem like a wide range of trading instruments, we weren’t able to confirm them due to the lack of a demo account.

Main Bit’s Fraud Risk Zones – Service Countries

We did some research to find out where this scammer engages in fraudulent activities. Here’s a list of some countries where Main Bit left its trace:

• The UK;
• The US;
• Germany;
• Canada;
• France.

Two local regulators have issued warnings against Main Bit. Unfortunately, it looks like that wasn’t enough since the scammer is still at large. We’ll need your help in shutting the broker down so if you have any useful information, please let us know.

Additionally, we strongly advise you to avoid the fraudulent brokers EXolid, Fin Art Media, and Limit Markets.

Different Types of Main Bit’s Accounts

As far as different account types go, Main Bit offers a total of seven:

• Test – 250 USDT;
• Bronze – 5,000 USDT;
• Silver – 10,000 USDT;
• Gold – 25,000 USDT;
• Platinum – 100,000 USDT;
• Diamond – 250,000 USDT;
• VIP – on invitation.

You can see that each account is funded with US Tether (crypto), which is shady, to say the least.�

The broker says that leverage ranges from 1:1 to 1:10, depending on the type. That’s quite odd. From other sources, we found that the cap is 1:200 and that seems more plausible, albeit illegal. Since Main Bit lied enough already, we have no reason to believe the other perks offered.

Spreads & Commission

Spreads start from 0.13 pips and go as low as 0.03 pips. Both echelons are really tight and competitive, but we highly doubt they’re true.

As for commissions, they range from 5% of profits all the way down to 1.5%, depending on account type.�

Access to a Free Demo Account

There’s no free demo account. Despite one of the accounts being named “Test”, it still requires money. Without a valid demo account, testing trading out was impossible.

Main Bit does have a promo code option though. The scammer sends this code to potential victims in order to entice them and later defraud them.

Main Bits’ Bonuses and The Terms of Their Receipt

These devious instruments of fraud are often used by scammers to trick traders. Namely, bonuses are considered “non-deposited funds” almost all the time.�

As such, they are used as a pretext to prevent traders from withdrawing unless they have realized an insane volume. Here’s the clause that says that.

Main Bit’s Deposits & Withdrawals

The whole deposit & withdrawal section kind of contradicts the crypto payment consent seen in the account section. Main Bit mentions credit/debit cards & wire transfers. Nevertheless, this rebukes the scammer’s claims of respecting AML/KYC policies. Therefore, your funds are at risk.�

�In the registration menu, Main Bit added just US Tehter. We tend to believe that the scammer accepts only crypto. The minimum deposit is 250 USDT.�

Main Bit Broker Scammed You? – Please Tell Us Your Story

If you’ve been scammed by Main Bit, don’t despair. It’s a horrible scheme. Don’t feel ashamed, we got you on this one.�

We can report the scammer and with your help, hopefully, shut down its entire operation. Crypto transactions are considered irreversible, but there is a way to get a chargeback.

What Is the Chargeback Procedure?

Depositing via US Tether may seem like money lost but that’s not the case. With help from experts, you can trace the transaction to a wallet within a crypto exchange. Afterwards, it’s possible to request a refund. Feel free to contact us to find out what to do.

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