BitnexLtd is allegedly a UK-based trading firm. The main page suggests you’ll deal with “first-class service, advanced technology, and exceptional value.” However, our experience tells us that whenever a firm over-represents itself, it means there’s something to hide.
Read our BitnexLtd review and find it all out.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | bitnexltd.com |
| Blacklisted as a Scam by: | FMA |
| Owned by: | N/A |
| Headquarters Country: | UK (allegedly) |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 250 EUR |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is BitnexLtd To Be Trusted? – About BitnexLtd Regulation
BitnexLtd is an anonymous brand. The company claims to be based in the UK, but there’s no owner or a license number. Since the UK belongs to a Tier1 zone with the FCA being one of the firmest regulators, we had to check it out. As suspected, there’s no BitnexLtd. So it means you’re dealing with an unregulated scheme that could potentially be registered offshore.
Why Is It Important For A Broker To Be Licensed?
Any financial service provider needs to be licensed. This license ensures that the company follows certain rules and keeps your funds safe. A broker can quickly vanish with your money if it is not regulated.
Since we have determined that BitnexLtd broker is one of those, your funds are at risk.
What is more, we strongly advise you not to invest inFinexStock,EJMarketsandInteractive Fundfraudulent brokers.
Is BitnexLtd a Legitimate Broker Or A Fraud?
BitnexLtd is a scam brokerage. The firm claims to be based in the UK and has no financial regulations. The firm was blacklisted in Austria and marked a scam.
BitnexLtd Was Blacklisted By The Austrian FMA
Austrian regulator FMA issued an official warning against BitnexLtd trading scam upon receiving numerous complaints. According to FMA, BitnexLtd operates without a license and provides unregulated financial services. And that’s the official confirmation of our findings.
Traders Reviews About BitnexLtd
Like many unregulated brokers, BitnexLtd doesn’t approve withdrawal requests either. This firm is not trying hard enough to have long-term clients. In fact, their utmost goal is to steal as much money as possible and block customers that request a payout. BitnexLtd reviews mainly focus on this issue since clients have no authority to report fraud as the broker is not licensed.
What Platforms Does BitnexLtd Offer? – Available Trade Software
According to its website, BitnexLtd provides a WebTrader. Yet, we were not able to get access to it. Even though we tried to register, the form had an error, so we could not finish the signing process. Since we don’t trust a word from this scheme firm, we will not comment any further.
Whatever platform there is cannot be more advanced than MT4 and MT5. These two are impeccable trading software, and you should find a brokerage offering one of them.
All About BitnexLtd Accounts
If you still want to trade with the firm, which we highly doubt, here’s an overview of trading accounts.
The main difference is in the access to different trading assets, education, and the minimum order size.
BitnexLtd Broker – Countries Of Service
Our research has shown that BitnexLtd trading scam mainly operates in:
- Austria
- Australia
- Romania
BitnexLtd Range of Trading Instruments & Markets
Depending on the account type, the broker allows access to the following trading instruments:
- Forex – EUR/USD, GBP/USD
- Commodities – gold, oil, silver
- Indices – Dow Jones, NASDAQ
- Shares – Amazon, Google, Apple
- Cryptocurrencies – BTC, ETH
Also remember the names of theThe Investment Center,AnalystQueandOrionterotrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
BitnexLtd Minimum Deposit
The trading company requires quite a standard initial deposit of 250 EUR. However, risking this amount of funds with an unregulated firm is not recommended. We always advise legitimate firms, and, in most cases, these firms have Micro accounts starting with as low as $10.
Bonuses As Ways To Scam
BitnexLtd gives its clients deposit bonuses. Besides the regulations prohibiting these bonuses, there’s another issue. Every bonus comes with a malicious clause intended to prevent you from getting a withdrawal.
According to the Refund Policy, clients cannot request a payout before reaching a turnover of 30 times the deposit plus the bonus amount. It’s just another way to delay you and ensure you will invest more to reach the rollover sooner.
BitnexLtd Trading Conditions
The firm has never disclosed its trading conditions. We have no leverage, spread, or any fees. This means that you’re going into the investing process blindsided, without even knowing if there is a functional platform or if your deposit will disappear the moment you transfer the funds.
All of this is a solid reason to avoid the BitnexLtd scam.
BitnexLtd Deposit, Withdrawal Methods, and Fees
The only payment methods mentioned in the legal documents are debit/credit cards and wire transfers. This company never mentioned any fees besides a Dormant Fee for accounts inactive over 6 months. In this case, the broker will deduct 10% from your account each month.
Payment Method Of Legitimate Brokers
Legal brokers allow using e-wallets such as PayPal and Skrill. With this, you have a money-back guarantee of up to 21 days, which means a lot. Since the broker hasn’t approved this payment method, we advise you to use your credit card. That way, you’re entitled to a chargeback within 540 days of the transaction.
Scammed by Invest BitnexLtd Broker? – Let Us Hear Your Story
If you or someone close to you falls for the BitnexLtd trading scam, let us know. Our chargeback specialists will book a free consultation and ensure to find the best way to recover your funds.
But What Is A Chargeback?
This is a way for your bank to recover the stolen funds if you can prove that you have been a scam victim. Contact us right away, and let’s start the procedure before it’s too late.