Togbit company is created in 2017 by the individual Justin Hance. At least according to the company statement. Thus, Togbit company doesn’t reveal any registration or license information. Since the company operates allegedly from Australia, such information is expected.
Thus, the Togbit scam is perfectly designed to avoid such questions. What are those questions you can find in detail if you read this Togbit Review.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Togbit.com |
| Have Warnings from: | N/A |
| Registered in: | Australia (allegedly) |
| Operating since: | 2017 |
| Trading Platforms: | Proprietary web-trader |
| Maximum Leverage: | 1:1 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | Not available |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Depending on the funding methods there are several solutions. But the best option is to talk it through with our specialized team. |
Legal info: Is Togbit Legit or a Scam?
As can be seen, the company claims to have an office in Australia. With this in mind, you know they need to be registered with ASIC. Sadly, ASIC registers were empty upon search of this crypto exchange. On top of that, the company is missing a DASF license. It’s not obligatory, but all legitimate crypto exchanges have it.
Therefore, if the company is misleading about headquarters country, there’s no reason to be honest about anything else. The key to safe investments is knowledge about scams and all the tricks companies are using. But also to know how to recognize legitimate ones. For that reason, we invite you to check our PrimoTrade and INVcenter reviews.
Togbit Customer Reviews
In fact, there are not many reviews currently available. Yet, more than enough to see where it leads. ON two platforms you can find in total 4 reviews. Thus, all 4 of those reported that the company is a scam.
Whether you are looking at Sitejabber or Reviews.io, the results are the same. Let us hear about your experience with the Togbit scam company. If you were one of their victims, it’s time to get in touch with us and get assistance for a refund.
https://www.reviews.io/company-reviews/store/togbit-com
https://www.sitejabber.com/reviews/togbit.com
Who are Togbit clients?
Most of the time, scam companies don’t filter the countries where they operate. In this case, scammed traders are mainly coming from
- Germany
- United Kingdom
- Nigeria
- Canada
Since these are very strict and regulated countries, it’s just a matter of time before regulators will expose this company. But primarily FCA and BaFin. Anyway, before that happens you have your faith in your hands. Send us a message if you want to start the refund process.
Togbit Fees and Commissions
Quite strangely, the company doesn’t reveal deposit and withdrawal fees. On the positive side, if you like, they provide transaction fees. Whether you are a maker or taker you get charged 0.2% on the basic account. However, premium users have a discount and those fees will cost you 0.14%.
Togbit Trading Features
Even though the platform is quite user-friendly it is missing some advanced features. None of the analytical tools are available. Only time-frames but even those quite poorly.
With only a web-based platform, you can already start doubting the legitimacy of it. Because such platforms are eligible for manipulation. In general, that’s not a rare case with scam companies.
Is Togbit legit?
To sum it up, no. Without full transparency and weak security, you can’t consider this company legit. On top of that, traders are already reporting withdrawal issues. That’s the main warning sign.
Available Trading Assets
Logically, this is a crypto exchange and they offer only cryptocurrencies. However, all the cryptos they offer are in relation to USDT or another cryptocurrency. Which means you can only convert funds to USDT. Some of the pairs available are:
- BTC/BUSD
- ETH/USDT
- BCH/BUSD + many more
Account Types
As can be seen, the company offers basic and premium accounts. Thus, the conditions for reaching a premium account are not revealed. Unusually, the company presents benefits in terms and conditions. But nothing significant can be found there.
The only benefit of a higher deposit is the lower transaction fee. But if they will rip you off with a withdrawal fee, it’s not worth it.
Mobile Trading App
Togbit login to the account is only available via a web-based platform. If you want to use it on a mobile, you have to use a browser. After this, many traders forget about their offer and start looking for better options.
Demo Account
Even though insight into the platform is provided, there is no demo account. On the positive side, it’s not strange for crypto exchanges not to have it. Yet, it would be a suitable option to test their fees if those are real.
Togbit Withdrawal
According to the company FAQ section, they process withdrawal requests within 24 hours. However, the only withdrawal method available is through the crypto wallet. Practically, you can’t transfer money directly to your credit card.
This leaves enough room for manipulation from the company’s side. Without fully transparent funding methods you know that Togbit fake withdrawal most likely never happens.
Customer Support
Another key warning sign is customer support. In the case of the Togbit.com scam company, there is none. The company doesn’t provide any contact option for its customers. That tells you how interested they are in assisting their customers.
Key Information To Consider About Togbit?
The company is primarily without regulations. Also, their Australian address is most likely fake as the whole company. On top of that, they are not registered in Australia officially.
Not to mention shady trading conditions, non-transparent withdrawal fees and a shady web-based platform. Everything is designed for a huge manipulation. If you were a victim of those, let us know. With our expert team, you can consult to get guidance for further steps. Contact us now!
FAQ Section
Is It Safe To Use Togbit Exchange?
No. This is a fully non-transparent company with many flaws but the main ones are missing licensing, fake company addresses and non-existent contact options.
How Do I Cancel A Withdrawal Request From Togbit?
The Togbit FAQ section claims you can’t cancel a request. Thus, they say to contact the support for assistance. But you don’t have any support contact option.
How Does Togbit Work?
They most likely use pressurizing tactics to get traders to deposit and later vanish with their money. If you had a similar experience, reach out to us for refund assistance.