Hey everyone!
I’m a newbie in crypto looking forward to an awesome community where I can gain comprehensive knowledge in the field of cryptocurrency trading. I have already started to try my luck on CryptoBitup. Does anybody know anything about this broker? The platform is rather new, it was launched only in 2017. It offers a lot of interesting trading opportunities for newbies including personal brokers, training courses, and analytics. I still have a demo account there. Would like to get some feedback before investing real money! Thanks in advance!
1st red flag - it’s a brokerage without a registration as a brokerage.
2nd red flag - no regulation mentioned on their site.
3rd red flag - Address in London, but claim to be regulated by Russia and Georgia (the country, not state) Forex Brokers on Investing.com
4th red flag - Website’s registrant is a Proxy company in Scottsdale, Arizona, USA
5th red flag - a number of scam warnings and reviews on the net.
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Cryptobitup Review - Scam and Possibly a Ponzi - Valforex.com
STAY AWAY from Cryptobitup, it is an ILLEGAL broker – review
I, for one, would not trust them with my money. It’s up to you if you do.
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It is important to work with a regulated and experienced broker that can ensure you regulations along with safety of funds. As crypto currency is not too much safe when compared to forex you have to be very cautious regarding your broker selection. And if you fully determined that you will invest in crypto currency try to invest in smaller amount.
Hey
Thanks for the comments. Where did you find the information about registration as well as regulation by Russia and Georgia? I’ve just sent an email to cryptobitup support. I want to see what they answer and then I decide if I continue trading with them or look for other broker. Actually, before opening a demo account I looked through numerous reviews on the net. I saw some negative feedback but most reviews were positive. I am sure I will hardly find any broker including registered one which has only positive comments. Anyway, now I am satisfied with services they provide and I am going to wait for any comments from cryptobitup.
The link to investing.com where they have their company listed. It’s in my post above.
However, if you’re already using them and are satisfied that is totally fine. Just keep an eyes open for potential foul play.
Have you tried withdrawing any funds yet?
Hi bradley79!
I contacted the CryptoBitUp tech support team, and they informed me that the company was regulated by the FMRRC and the National Bank of Georgia. I don’t know whether it is so bad). I registered a Mini investment account on CryptoBitUp. The platform offers almost everything to trade with pleasure. But, once I came across system lags. For engaged traders this problem is really crucial. As for money withdrawals, everything is ok. Unfortunately, i can’t add a link (as a new user) to make you sure(. I use the assistance of my personal broker Alex Brown. His advice are really useful. So, I can’t say that CryptoBitUp is a scam, at least, in the direct meaning of the word))
Yes, it isn’t the issue))