Blockbyteq has been flagged by Commissione Nazionale per le Società e la Borsa for "Unregistered/Unlicensed entity offering financial products or services". Consob has ordered the black-out of the website through which services for crypto-activities are abusively provided This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After since the beginning of the year with Blockbyteq, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Detailed reporting|Reliable uptime
Cons: Limited social trading features
Opened my account with Blockbyteq from a blog post comparing services and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Clean UI|Personal attention
Cons: Live chat only during business hours
Several red flags with Blockbyteq: (1) They promise unrealistically high returns, (2) They're not registered with Commissione Nazionale per le Società e la Borsa, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Flagged by Commissione Nazionale per le Società e la Borsa|Cannot verify credentials
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Blockbyteq is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
I looked into Blockbyteq and found they appear in the regulatory warnings database. Commissione Nazionale per le Società e la Borsa has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Blockbyteq 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: Helpful community forum|Quick verification|Multi-currency support
Cons: Wait times can be long during peak hours