BitProGain has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". BitProGain aka BitGainPro found at www.bitprogain.com and/or www.bitprogain.io and/or www.bitpro-gain.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I was contacted by BitProGain through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Blocked my account|No legitimate license|Fake returns
KYC with BitProGain is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Clear documentation|Regular updates|Professional team
Cons: Could offer more webinars|Website design could be more modern
For anyone considering BitProGain, please be aware that this company has been flagged by Ontario Securities Commission. 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
BitProGain 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: Reliable uptime|Multiple order types|Easy to use platform
Cons: Email notifications too frequent|Withdrawal takes 1-2 business days
The mobile app from BitProGain 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: Easy to use platform|Educational resources|High security standards|Dividend tracking
Cons: Could offer more webinars|Would like more payment methods
BitProGain advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Good mobile app|Low minimum deposit
Cons: Desktop app not available on Linux
I referred a friend to BitProGain while looking for alternatives to my previous provider. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Good mobile app|Clean UI|Real-time alerts
Cons: No fractional shares|Currency conversion fee exists
I wanted to transfer my portfolio from another broker to BitProGain. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Fast execution|Easy to use platform|Regular updates|Real-time alerts
Cons: Spreads widen during volatile periods
Tried to withdraw my funds from BitProGain 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: Blocked my account|No legitimate license|Fake returns
I am in a dispute with BitProGain over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Smooth onboarding|Excellent charting
Cons: Nothing significant|Live chat only during business hours