Bithades is a forex and cryptocurrency trading broker that claims to offer a wide range of trading services. However, there is a growing body of evidence that suggests that Bithades is a scam.
Company Overview
Bithades is a relatively new broker, having been founded in 2022. The company’s website claims that it is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. However, there is no evidence to support this claim. In fact, the FCA has warned investors about Bithades, stating that it is not authorized to carry out regulated activities in the UK.
The Bithades website also lists a team of executives, but there is no information about their qualifications or experience. This is another red flag, as legitimate brokers typically provide detailed information about their team members.
Services or Products
Bithades claims to offer a wide range of trading services, including forex, cryptocurrency, and CFD trading. However, there is no way to verify this claim, as the company’s website does not provide any real-time trading data or market analysis.
License and Regulations
As mentioned earlier, Bithades is not regulated by any major financial authority. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This makes it more likely that Bithades will engage in fraudulent or unethical practices.
Why Dealing With An Unlicensed Broker Is Risky?
There are several reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any oversight or regulation. This means that they can engage in fraudulent or unethical practices without fear of being caught.
Second, unlicensed brokers are more likely to disappear with your money. Once you deposit money with an unlicensed broker, there is no guarantee that you will be able to withdraw it.
Third, unlicensed brokers often use high-pressure sales tactics to convince you to invest more money than you can afford to lose.
Legal Warning Against Bithades
The Financial Conduct Authority (FCA) in the United Kingdom has issued a warning against Bithades, stating that the company is not authorized to carry out regulated activities in the UK. This means that it is illegal for UK residents to trade with Bithades.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of complaints about Bithades online. Some users have reported that they were unable to withdraw their money from the broker, while others have said that they were contacted by aggressive salespeople.
Feedback About Their Trading
There is no way to verify the trading performance of Bithades, as the company does not provide any real-time trading data or market analysis. However, the complaints that have been made about the broker suggest that it is likely to be a scam.
Feedback About Their Customer Service
The customer service of Bithades has been described as “abysmal” by some users. Customers have reported that they have been unable to get in touch with the broker’s representatives and that they have received no help when they have tried to resolve issues.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Bithades or another unlicensed broker, there are a few things you can do. First, you should contact the Financial Conduct Authority (FCA) in the UK. The FCA can help you to file a complaint and to get your money back.
Second, you can contact a lawyer who specializes in financial fraud. A lawyer can help you to understand your legal options and to take legal action against the broker.
Finally, you can post your experience on a review website like ReviewsAdvice. We will help you by providing a free consultation and service recommendations to help you in recovering the lost funds.
Final Thought
Bithades is a scam broker that should be avoided. If you are considering trading with Bithades, we advise you to reconsider. There are many legitimate brokers out there that offer the same services without the risk of being scammed.
