FXBitCapital offers its services as an intermediary at Forex trading floors. To this end, the company has even developed a striking website and tried to make it modern and informative. Such an impression is created when getting acquainted with the brand.
In fact, after a careful study and a deep background check, FXBitCapital turns out to be not a reliable trading intermediary offering profitable cooperation, but a typical dubious offshore broker run by swindlers. All links to documents in the Legal Documentation section are inactive and you can't even get acquainted with Terms and Conditions.
By the way, the information on other topics and positions is also clearly not enough. If you search for data about that company on Google or Yahoo, you will only find the official website of the company itself, as well as negative reviews of numerous third-party resources.
If you are an investor and a trader or just going to become a participant of the online trading sphere, it is better to avoid the so-called broker, presented in the network under the name FXBitCapital.
Promising the mountain of gold, the swindlers are not interested in the development of their trading platform. They are interested only in the fast profit, which they are ready to receive by the oldest ways - by robbing and swindling their own clients, who had the carelessness to entrust them with their capitals.
Do not think that they will treat you differently from other clients-they work like robots, according to a well-established fraudulent scheme. Run away as soon as you see their logo. And if you still have doubts - we invite you to read our detailed objective review of the so-called FXBitCapital broker, which is based on in-depth inspection of the official website, information from regulators and domain name verification service.
Be aware of the latest information and avoid financial scams with our reviews.
Types of trading accounts offered by FXBitCapital
FXBitCapital requires customers to register and choose any of the three account types offered in order to use the trading platform as a trader.
Scroll down this section and what do we see? Here we see different information. Here FXBitCapital is advertising not three but four trading accounts.
But the surprises don't end there. As we scroll down the Account Type page even further, we see a table with completely different data. The trading accounts of this dubious broker is twice as much as it was told by the broker. The number of trading accounts increased to six - Classic, PRO, VIP, PAMM, MAM, FixBitCopy.
All this looks strange, of course, because this is the "face", the official website of a global broker who talks about his years of experience, brags about his team of experts, calls for cooperation and takes money from people, promising to help increase their profits.
One gets the impression that the paragraphs were filled out by three different people, without reading what the others are writing.
Alas, the strangeness of this firm, which is more like an office of rogue amateurs, does not end there.
If you look closely at the conditions of tariff packages, you will find the difference only in their names. As for the conditions - minimum deposit, leverage, etc., these data are the same for all six types of trading accounts.
I even wonder who, after receiving such information, or rather its absence, seeing such negligence shown in filling their official website, is ready to even think about any cooperation?
FXBitCapital says that in addition to Live accounts, a practice demo account is available, but which one is free, we have not been able to find out.
FXBitCapital Trading conditions
From what we learned at the start of the review about FXBitCapital, we definitely do not want to have anything to do with such a company, let alone trade with them in the Forex market. Of course, it is possible to justify them with the fact that they ordered a website creation for them and the executor badly did his job, and the broker itself offers exceptionally profitable cooperation, etc.
Being optimists, we continue to study FXBitCapital trading conditions in detail in order to provide traders with only up-to-date data.
So, FXBitCapital is a company that prides itself on offering trading services to both individuals and companies, calling itself nothing less than a true global broker and encouraging everyone to fully trust it
Of the services offered, we see CFDs on stocks, indices, futures and a promise to enter the Forex market.
According to the creators of the platform, the company's services are available in more than 80 countries around the world.
This is another oddity, because the site is only available in English.
Moreover, there is no information about it in the network.
Most likely, FXBitCapital uses such unconfirmed data "for the sake of red lip service" in order to lure as many inexperienced traders as possible into its networks, putting them on their guard. As for investors, the broker is counting on them to take the bait on advertising and bring him their money, seeing what a sought-after company it is.
Now more about the trading conditions. This fraudulent brokerage project gives its clients the leverage at a ratio of 1:1000!
Such data is in the table with the description of trading accounts.
In another section of the site, we again see the inconsistency of the data
Here the scammer FXBitCapital already offers a ratio two times lower: 1:500!
Whatever it is, an experienced participant of trading platforms knows that this is an extreme degree of risk. Such data can only encourage a novice trader who does not yet understand what scam he can get into, where he has all chances to lose the invested money quickly and easily.
For comparison, the respected regulators, when they give licenses to the brokers, set the leverage limit in the ratio of 1:30-1:40. Anything higher is evidence of dirty intentions and doubtfulness of the company. The brokers who work legally do not impose such norms. The higher the leverage ratio, the higher the expected loss or profit. Investors should stay away from FXBitCapital, because any of the leverage ratios they offer are huge, which clearly does not speak in their favor!
FXBitCapital has several (six) operating accounts. The implementation of the deposit channel (cryptocurrency) for all accounts is through ETH, BTC, LTC, Ripple and Tether.
Each channel is linked to Blockchain. In fact, it is, of course, a secure channel, however, in case of fraud traders will be denied access to their money account, as blockchain funds cannot be traced.
The fact that the platform does not accept those payment channels is another worrying sign. That the platform does not accept those payment channels that allow for chargebacks.
FXBitCapital says there are no deposit fees on its platform. However, there is a withdrawal fee.
The site does not specify a minimum withdrawal amount. Looking ahead, we hasten to "calm down" traders - it is unlikely that someone will allow them to withdraw money, so there's no reason to pay commission.
There is no confirmation of a successful withdrawal from the platform, but there are many complaints to the contrary. By the way, the platform does not have its own wallets. And this is the most profitable way to deposit and withdraw.
Among other things, the company provides access to multiple trading platforms - MT4 for Android, phone, Internet and desktop PC.
However, the main method is copy trading, which is an extremely risky strategy. Copy trading is poorly predictable and investors are often left with empty pockets.
By the way, the company did not include MT5 in its previous list of trading platforms. What is it: another omission or a deliberate fraud with the information on its official website?
Extremely dubious broker, which is definitely not to be dealt with!
Let's check whether FXBitCapital works legally.
The site has a separate section devoted to this question.
The creators of the company explain that FXBitCapital is regulated by the financial law of the island state of St. Vincent and the Grenadines. In addition, forex companies on the said territory are not regulated. Therefore, investing in this company is extremely risky.
Even attached is a scan of a copy and license number.
Despite this, this broker operates illegally. FXBitCapital is registered in the name of the parent (or other organization with a similar name) FXBitCapital Group Ltd. The company was registered for the purpose of doing business in 305, Griffith Corporate Center. This offshore site indicates that it does not provide services to traders from Sudan, North Korea and Syria.
As we said, the company's internal documents are not uploaded either, but traders are told that they are.
Minimal information is also provided about FXBitCapital contacts.
The company's contact information is very minimal. They boil down to an appeal: Better write letters!
Only email and chat addresses. No phone or physical addresses.
Let's see what the WhoIs service will tell us about fxbitcapital.com.
It turns out that the project is not more than 10 years old, as it tells its users, but less than a year, since September 2020.
FXBitCapital Reviews online
Despite the fact that the site is offered only in English, there are no reviews of real traders on the web. Or rather they are only in Russian.
Although the broker assures that it is presented in 80 countries and operates for a long time, they are invisible to Google.
Safety and security of funds with FXBitCapital
When it comes to the safety of funds, fxbitcapital.com makes beautiful promises.
But the broker is deceiving, because as an unregulated company, scammers can't guarantee their clients the safety of their personal data and capitals.
FXBitCapital is an unreliable broker, run by crooks and swindlers. Their official site is a total mess. There are a lot of scammers on the net who present themselves as financial brokers. Some of them are cleverly disguised and difficult to expose. And others are lazy dilettantes who are not even able to make a website. The FXBitCapital project is just a representative of this category.