Bitky Review: Avoid This Scam Broker at All Costs

Bitky.io trading company is another in the line of offshore award-winning brokers. However, those awards don’t exist. But for a reason. As the broker registered in Dominica in 2019, we didn’t expect much. That’s why they are not active at the moment under this name. But maybe they operate under another name so you must be careful.

That’s why we will reveal in this Bitky review what signs to look for in any broker to find out if they are legit or not.

Regulation of Bitky and Funds Security

As with any other trading company, you must look first for the regulation. It plays a crucial factor in defining scammers. This broker is registered in Dominica. With anonymous presentations, they don’t reveal much about themselves. Thus, their regulation doesn’t exist. Not even there, but also not with any other regulator.

If you take a look at any Tier 1 regulator register, the result is the same. Bitky broker is not licensed. Not with FCA, not with BaFin but also not with ASIC. This leads us already to the first sign of this investment scam.

Additionally, this company doesn’t have any fund protection measures. With this company, you can easily get into debt. Primarily due to missing negative balance protection. On top of that, you don’t have guaranteed stop-loss. In general, everything looks prepared for a masterclass scam scheme.

Bitky Trading Software Reviews

Trading software is another key fact where Bitky scam broker doesn’t get credit. Traders that are looking for stability and security can’t trust web traders. Instead of third-party software, you can use here only a basic trading view. But with few improvements. More charting options and a bit more indicators. Still far less than the biggest competitors in the game Meta Trader.

Some traders prefer to use social or copy trading to improve their results. This feature is very popular nowadays. But the BItky broker scam didn’t cover that aspect of trading. Moreover, their web trader doesn’t let you trade properly on mobile devices. Instead of a proper app, you can only access your account through a browser.

After all, it’s important to mention that web trader is not secure. These platforms are easily accessible through a back end. This leads to market price manipulation. Consequently, the broker can sell you any story to make you deposit more. Instead, you can find a Tier 1 licensed broker with Meta Trader at least.

What Account Types Does Bitky Offer?

With many companies, you will have a diversified offer. This way a broker can motivate you to deposit more money. With licensed brokers that are completely logical. Because they make profits on spreads and commissions. But with scam brokers, their main goal is to extract as much money as possible.

Surprisingly, Bitky scam broker doesn’t have any offers for account types. So, everyone gets the same trading conditions and benefits. Thus, this might not be true once you start trading. If they realize that you are full of money, they will make an offer for you. But don’t fall for those tricks.

Not to mention that they don’t offer a demo account or an Islamic account. So, if you want to test their services you must risk money. For instance, Tier 1 regulated brokers offer even micro-accounts. But mostly demo accounts are available for testing.

What Can Be Traded on Bitky Market?

As for trading instruments BItky scam broker has pretty good coverage. But Bitky broker reviews reveal that this is not relevant. Because even if they had only 5 assets, their only goal is to scam you. Nevertheless, their offer consists of:

• Currency pairs (Forex)                       GBP/AUD, SGD/HKD, EUR/HUF
• Commodities                                     Brent crude oil, gold, palladium
• Indices                                              CAC 40, Nikkei 225, Dow Jones
• Shares                                              Walt Disney, Netflix, Master Card
• Cryptocurrencies                               BTC, SOL, USDT

Even more important than assets are trading conditions. This broker allows insanely high leverage of 1:400. This violates all regulations, but also ESMA (European Securities and Markets Authority) rules. The problem is that your balance can disappear in a second. Especially with the manipulative platforms that Bitky could have.

After all, their spreads are not revealed. So, they can make up any trading costs and leave you without any profits. Not to mention fees and commissions that are non-transparent either. So, all terms that you get are completely anonymous. Better avoid such brokers on time, before you lost all your life savings.

Bitky Deposit and Withdrawal Process

Bitky investment scam works on a simple principle. They will pretend to be legitimate until you request a withdrawal. For those options you have:

• Debit/Credit cards
• Crypto transfers

So, the idea is that they gain your trust and then ask you for more money. But only through crypto. This way they keep the anonymous business model. Besides, this broker doesn’t have any transparent withdrawal policy. So, if you get unexpected fees to pay or taxes know that’s only a way to get the last penny from you.

How Can I Get a Refund If Bitky Scammed Me?

There are a couple of solutions. But first, let us hear your story. Our specialized team can build you a perfect strategy to get your funds back as soon as possible.

Whether you were making a card or crypto transaction, there is a solution. But for crypto transfers, you need to have CipherTrace software to track money first. Luckily our team has this amazing software. So, let’s book a consultation before it’s too late. Get in touch now!

Bitky Summary

• Offshore scam broker without regulation.
• Numerous negative reviews against the broker.
• Untrusted trading platform.
• Non-transparent trading conditions.
• They don’t have a withdrawal policy.

 FAQs About Bitky Broker: