Cypbit (cypbit.io) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: cypbit.io.
Cypbit (cypbit.io) 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: Clear documentation|Excellent charting|Regular updates|Fast support response
Cons: Currency conversion fee exists
Cypbit (cypbit.io) 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: High security standards|Clean UI|Excellent charting|Portfolio tracking tools
Cons: Help articles are sometimes vague|Email notifications too frequent
Cypbit (cypbit.io) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Clean UI|Multi-currency support|Good mobile app|Excellent charting
Cons: Research section could be deeper|Onboarding videos are outdated
Do not use Cypbit (cypbit.io) for anything serious. I used them for a couple of months now for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Intuitive for beginners|Full transparency|Transparent fees
Cons: Limited ETF selection|Currency conversion fee exists
Cypbit (cypbit.io) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Comprehensive tools|Low minimum deposit
Cons: Mobile app could be improved|Account statements could be more detailed
Where do I even begin with Cypbit (cypbit.io)? for over three years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Regular platform improvements|Multi-currency support
Cons: Minor UI glitches occasionally
I wanted to transfer my portfolio from another broker to Cypbit (cypbit.io). 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: Copy trading available|High security standards|Competitive fees|Reliable uptime
Cons: Limited ETF selection
I gave Cypbit (cypbit.io) a fair chance. After for about ten months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Multi-currency support|Educational resources
Cons: Cannot customize dashboard fully
The platform itself is okay, but the customer service at Cypbit (cypbit.io) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Customizable dashboard|Economic calendar|No hidden fees
Cons: Help articles are sometimes vague
I opened an account with Cypbit (cypbit.io) since the beginning of the year ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Smooth onboarding|Customizable dashboard|Good analytical tools
Cons: Withdrawal takes 1-2 business days|None so far