BITLYCO has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The onboarding at BITLYCO was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Reliable uptime|Helpful community forum
Cons: Research section could be deeper
After spending for over a year trying to make BITLYCO work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Customizable dashboard|Segregated accounts|Fast deposits|Educational resources
Cons: Limited demo account features
The only good thing about BITLYCO is that they remind you why regulation matters. I found them through a forum discussion. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Clear documentation|Comprehensive tools|No hidden fees
Cons: Wish they had more educational resources|Some tools only available on higher tiers
Tried to withdraw my funds from BITLYCO and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
For anyone considering BITLYCO, please be aware that this company has been flagged by Comisión Nacional del Mercado de Valores. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
The platform at BITLYCO is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for a few weeks now of dealing with this, I have had enough.
Pros: Wide product range|Intuitive for beginners
Cons: Limited demo account features
If you are reading this considering BITLYCO - run. I wish I had read more negative reviews after a friend recommended them. I thought the positive ones were real. Maybe some are. My experience over for over three years has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Portfolio tracking tools|Dividend tracking|Clean UI|Real-time alerts
Cons: Charting tools need more indicators|No live chat on mobile
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that BITLYCO has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Flagged by Comisión Nacional del Mercado de Valores|Cannot verify credentials
My card was charged twice by BITLYCO on the same day. I had to dispute it with my bank. BITLYCO then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Low minimum deposit|Tax reports included|Clear documentation
Cons: No crypto staking