Bitsvex 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.
After spending for about ten months trying to make Bitsvex 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: Good analytical tools|No hidden fees|Market news feed|Multi-currency support
Cons: Spreads widen during volatile periods|None so far
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Bitsvex 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.
Cons: Flagged by Financial Markets Authority|Cannot verify credentials
I am in a dispute with Bitsvex 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: Demo account available|Excellent charting
Cons: Currency conversion fee exists
Bitsvex locked my account without warning and demanded documents I had already submitted. since I retired last year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Reliable uptime|Great customer service
Cons: Some tools only available on higher tiers
Bitsvex 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: Detailed reporting|High security standards
Cons: Charting tools need more indicators