BitOpps is a long-lasting market scheme. The site has existed for over two years, but we believe it will soon vanish. Why? Because there are too many complaints and regulatory warnings.
Our detailed BitOpps review will show you why regulators suddenly noticed this website and why there have been five bans in the previous six months.
For a start, BitOpps broker has a rather disappointing web presentation. You can tell they didn’t even try to seem credible. Brokerage presents itself as a “trader-friendly cryptocurrency trading platform” without giving us any specifications.
The scheme’s owner is Rival Ltd, allegedly incorporated in Saint Vincent and the Grenadines. The country has the financial authority issuing virtual asset service providers licenses. Therefore, we’ve checked the FSA register for BitOpps regulation. The company owner is not on the register, and the firm has no offshore or any other license.
Since they didn’t even put effort into obtaining a Tier 3 regulation, we’re clearly dealing with a bogus swindler.
BitOpps is an offshore broker without a license. The company has been blacklisted in Canada and Belgium for scam activities.
Speaking of regulation, the company tried to convince us it has one. Allegedly, they’re approved to work by the Crypto Conduct Authority, CCA.
Even though we know this is not an actual regulator, we did due diligence. And, as you can guess, the brokerage is not in their database. Hence, BitOpps’ reputation lies in false information and fake stories. Don’t trust it.
Now let’s talk about what matters. Recently, regulators received complaints about the BitOpps trading scam and decided to ban it.
Finally, in February 2023, the OSC of Ontario issued its own alert, stating that bitopps.com is not registered to engage in the business of trading in securities.
Both Canadian warnings were republished in the Netherlands, while the OSC one was added to the Portuguese alert list.
The domain of this bogus broker was registered on the 12th of October, 2020. Since then, the company has been mainly targeting citizens of:
While this is not a complete list, it’s enough for you to be ready. If you receive any offers or see this brokerage advertised anywhere, pass it. It’s the safest thing you can do for your money.
Additionally, there’s a warning regarding fake reviews that have been removed. According to those that left, this firm takes high initial deposits, only to notify customers that they lost it all. Whenever you see a broker artificially increasing their score by posting counterfeit comments, you know it has nothing to offer.
BitOpps trading platform is advertised as “a platform designed for modern users.” According to the website, you can use it any time, from just any device. However, there are no links or access to any browser-based software.
Based on the advert elaborating on how to use the software installation-free, we can conclude it is a WebTrader. Yet, we cannot access it or review it. Therefore, we have nothing to say.
All we can do is advise you to register an account with a regulated broker. They usually offer third-party software such as MT4, MT5, or cTrader. With millions of users, each of these provides a broad range of TAs and increased security.
Well, the choice here is pretty narrow. BitOpps presents itself as an exclusive crypto brokerage house.
They claim to offer hundreds of digital coins, including BTC, XRP, ETH, and more. However, without accessing the platform, we’re unable to confirm it. Additionally, we have no information about spreads, swaps or any other commissions they charge for trading.
There are six BitOpps account types, none of which seem appealing.
As you can tell, the minimum deposit is very high, especially compared to Micro accounts by legit brokers. These usually start at as low as $10-100.
Besides, each account brings more assistance from the broker side, a broader range of digital coins, VIP analytics, and more. However, we don’t know if you’ll get any better trading terms, such as higher leverage, lower spreads, or commissions.
Sadly, you cannot trade for free. BitOpps Demo account is unavailable, meaning you have to deposit first. Considering how large a sum the broker requires, we advise against it.
Furthermore, you can trade with licensed firms enabling test accounts and asking for lower initial deposits. That way, you’re increasing fund safety while getting a chance to test your trading strategies risk-free.
BitOpps is a swindler that scammed many. If you’re one of their victims, don’t hesitate to share your story.
Global Fraud Protection has dedicated chargeback experts and CipherTrace crypto analysts that can help you track and trace your funds. With this report, you can contact the authorities and request a refund. It’s not all lost. Get in touch now!
BitOpps is not a legit broker but an offshore scheme. If you’ve been defrauded, don’t hesitate to reach out to our experts for help with this matter.
BitOpps doesn’t offer any mobile apps, nor does it specify which type of platform you can use.
The brokerage requires a pretty high initial deposit of $1,000 for the Basic account.
BitOpps is not a legit broker but an offshore scheme. If you’ve been defrauded, don’t hesitate to reach out to our experts for help with this matter.
BitOpps doesn’t offer any mobile apps, nor does it specify which type of platform you can use.
The brokerage requires a pretty high initial deposit of $1,000 for the Basic account.
The post BitOpps Review 2023 – Regulators Warn Of Fraud By This Broker appeared first on Global Fraud Protection.
