Is Fxbitcapital a Legitimate or Scam Broker? Find out!
Fxbitcapital has an impressive, user-friendly website. It offers150 trading assets, claims that it offers fast withdrawals, social trading, the MetaTrader 4 platform and many other services. There is little doubt that many people would sign up with Fxbitcapital based on its nice website. However, there are several problems with Fxbitcapital that we noticed.
What Is the Issue with Fxbitcapital? Read the Following:
Fxbitcapital has a license, but it is from St. Vincent and the Grenadines. This is a third or fourth tier license. It is not enough to check that a broker is regulated, but that its license is a high quality one. St. Vincent and the Grenadines will give a license to anyone who fits the minimum requirements and pays a fee. They provide no oversight to customers.
Also, Fxbitcapital requires its clients to fund their account with cryptocurrencies. Restricting payment methods to cryptocurrencies means that the broker is most likely trying to avoid fund recovery and stay anonymous.
Is Fxbitcapital a Scam Broker? Here Are Some Red Flags
Clients can fund accounts only with cryptocurrency
High leverage at 1:500
No legal documentation
No transparency about who is behind it
If You Have an Account with Fxbitcapital Broker
Close your account and ask for your money back. If you can’t get a withdrawal contact ReportScamOnline experts right away. We will consult with you and will guide you on the road to fund recovery. The ReportScamOnline team has combined decades of experience dealing with hundreds of financial institutions.