We’ve come across BitIQ App, and we declare it a scam, thanks to its suspicious way of operation and also the fact that they are unregulated yet soliciting funds from investors. The scam site is hosted at bitiq.app and is luring investors with a supposedly profitable Bitcoin investing strategy. Marketing materials on the BitiQ app website claim that the product is a well-programmed trading software that traders use to make smart trading decision. But we disagree with this website because it uses the same exact platform that fraudulent binary options brokers use. There are no legitimate brokers involved.
Furthermore, it promises to assign an “account manager” who will help you “multiply” your money by trading on your behalf. Nevertheless, if you give them a chance by creating an account and depositing some money, this will be the last time you will see that deposit. This is note a legit Crypto trading bot or opportunity, and the risk of losing all your investment currently stands at 100%.
BitIQ App Review: Why bitiq.app is a scam site with fake Bitcoin investing opportunity
They tell us that we can use any broker of our choice or let an account manager trade for us. But notice that BitIQ app is not giving the exact steps to follow. They’re only presenting us with a sign up form but not shading light on which brokers are involved.
They’re specifically marketing “copy trading” but no information is provided concerning copy trading signals from BitIQ platform. Do they connect with third party brokers/exchanges using API functionality or one has to do copy the signals manually?
All of this information is missing on the sales page. Moreover, we’ve observed that the website is wordy yet not giving sufficient information about the trading system which they promote.
They mostly focus on generic Bitcoin trading content as if we are interested in learning the benefits of Crypto and why we should trade Crypto.
The BitIQ app website does not provide specific details of the app — i.e trading strategy, performance and whether or not it is compatible with mainstream brokers.
BitIQ App is not a licensed investment platform
Since the website and the scammers behind this app are economical with information, we presume that this should be one of those fake binary options trading bots matted into a broker script. The script simply has a basic charting platform with a big Buy and Sell buttons.
When we sign up, we will find a platform that accepts deposits and apparently ‘withdrawals” too.
The scam is supposed to accept your deposit and trade it for profit — since they’re suggesting that the app does not lose any money.
The problem with these shady investment platforms is that they don’t often have a real trading platform where real data feed is involved. They often don’t work with liquidity providers as the script is just an imitation of a real broker.
When you engage the auto-trading function of BitIQ App (and you have an account balance in the fake platform), you will watch the app drain your account from trades that lose money.
Either way, this kind of platform needs a license from a reputable financial watchdog.
Unfortunately, they can’t qualify for one because the site is run by anonymous people who don’t have a proper physical address. They also don’t have a trading strategy. The intention is to scam investors, hence no need to apply for a financial services license.
What to do if you’ve been scammed by BitIQ app website
We’ve made it simple for you to request a chargeback from scammers by presenting your case on the form or live chat function at the bottom of this site.
If you have a strong case and it can be confirmed that indeed you sent money to BitIQ app scam, then a professional will pick your case and work on it. Your cooperation is highly needed throughout the process.
BitIQ App is a typical Bitcoin auto trading app. Nobody can take these anonymous scammers serious as their website invokes fear of getting scammed.
It lacks important information that is found in any serious website. Furthermore, their marketing material is gibberish as any professional trader will find it time-consuming yet not useful.
Thanks for reading.