BitoFX Investment has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I want to warn everyone about BitoFX Investment. They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Professional looking website
Cons: Blocked my account|No legitimate license|Fake returns
I experienced a security concern with my BitoFX Investment account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Copy trading available|Quick verification
Cons: Research section could be deeper|Withdrawal takes 1-2 business days
Tried to withdraw my funds from BitoFX Investment 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.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
The spread at BitoFX Investment is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after reading several online reviews and initially thought the platform was good - until I started trading seriously.
Pros: Multiple order types|Responsive team|Intuitive for beginners
Cons: Minimum deposit could be lower|None so far
After for the past year and a half with BitoFX Investment I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Tax reports included|Wide product range|Economic calendar|Quick verification
Cons: Desktop app not available on Linux
My withdrawal from BitoFX Investment was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for just over a year of being strung along.
Pros: Excellent charting|Transparent fees|Fast execution
Cons: Cannot customize dashboard fully|Minimum deposit could be lower
BitoFX Investment has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Excellent charting|Dividend tracking
Cons: Limited cryptocurrency options|Limited social trading features
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
The mobile app from BitoFX Investment is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Copy trading available|Demo account available|Two-factor authentication
Cons: Inactivity fee applies after 12 months|Research section could be deeper
BitoFX Investment offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: No hidden fees|Tax reports included|Wide product range|Clear documentation
Cons: Slow to add new assets|Limited cryptocurrency options