After logging into the Bit Forex Global dashboard, we were shocked to find out that the website bitforexglobal.com is not a legitimate Forex and CFDs broker. They don’t have standard features that are found in all legitimate Forex broker’s platform. For example, the popular MetaQuotes trading software is missing. There’s no talk of leverage, spreads or anything that is related to a Forex broker. However, when you look at the front-end of the BitForexGlobal.com website, you will see that they are promising to give access to the global financial markets. The question is how this will be possible when the user dashboard is just empty and with no charts or indicators that help traders place orders in the market.
Bit Forex Global is also very new in the Forex and CFDs brokerage business since the domain was created in 2022. These guys don’t have any user reviews currently. It is difficult to trust such a broker/financial services platform since their website does not inspire anyone to make that bold move of sending money to the company’s bank accounts. Despite the benefits listed on this website, we are of the observation that Bit Forex Global is here to entice victims before they can steal from them. Since they are not a broker, one cannot think of using an EA or a Forex signal service providers like the ones we recommend here. You must get yourself a decent Forex broker first before you can use those recommendations.
Bit Forex Global (BitForexGlobal.com) Review
Website is claiming that their offices are based in Canada and the UK. But this is false. Our survey team visited the alleged location of the company and only found a residential property. There were no signs of any office in their supposed Canada physical address.
Although we didn’t pay a visit to their so-called UK office, we’re of the ascertion that if they can lie about their Canada physical address, then the UK office is also fake. No need to confirm this.
Bit Forex Global is collecting pennies from unsuspecting victims as the scam has a minimum deposit requirement of $100 only.
Their account types are more of a ponzi scheme investment setup since BitForexGlobal is not highlighting any features that come with a professional Forex broker. Instead, they’re talking of withdrawal of commission. Typically, ponzi schemes pay out “commision” out of previous investors money. Forex and CFDs brokers do not pay commission other than partnership commission. This is the commission you are given if you introduce another trader into the platform.
So at this point, the website is not offering any leverage or spread information. You can’t ask why because their mode of operation is 100% similar to that of a ponzi scheme.
Bit Forex Global not licensed
Since they claim to have offices in Canada and the UK, one would be interested in knowing whether they are licensed by any of the financial regulators in the two countries.
Obviously we couldn’t find regulator information on the BitForexGlobal website. This simply means that the website is illegally providing financial services.
It also means that whoever is running the scam is not a straight-forward person. They can’t qualify for a license from either the IIROC or the FCA. These are serious financial regulators who will not hesitate to take action.
What to do if you have been scammed by BitForexGlobal.com
You need to present your case to the professional funds recovery agencies who will evaluate your case and if you have a strong case against the scammer or purported scam, they will help you with the chargeback process.
You can use the live chat feature on this website or fill out the form at the beginning of this review.
There are very serious Forex and CFDs brokers out there. What we are seeing here is a scam investment platform masquarading as a broker.
If we ask the hard questions like “why are you not licensed?”, the truth will begin to form right before our very own eyes.
We advice you to avoid BitForexGlobal as they are far from being legit.