BitVex has been flagged by Commissione Nazionale per le Società e la Borsa 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 reporting at BitVex is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Two-factor authentication|Automated trading options
Cons: No fractional shares
After seeing ads for BitVex online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Commissione Nazionale per le Società e la Borsa. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
BitVex locked my account without warning and demanded documents I had already submitted. for about ten months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Personal attention|Intuitive for beginners|Risk management tools
Cons: Help articles are sometimes vague