www.bitworldfx.com has been flagged by AMF (France) for "Unauthorised". Category: Forex This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.bitworldfx.com.
www.bitworldfx.com 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: Intuitive for beginners|Comprehensive tools
Cons: Minimum deposit could be lower|Currency conversion fee exists
The spread at www.bitworldfx.com is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: High security standards|Good analytical tools
Cons: No integrated tax optimization|Limited cryptocurrency options
I wanted to transfer my portfolio from another broker to www.bitworldfx.com. 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: Tax reports included|Fast execution
Cons: Nothing significant
If you are reading this considering www.bitworldfx.com - run. I wish I had read more negative reviews after my brother mentioned them. I thought the positive ones were real. Maybe some are. My experience over for a couple of months now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Fast support response|Regular updates
Cons: Currency conversion fee exists|Wait times can be long during peak hours
www.bitworldfx.com locked my account without warning and demanded documents I had already submitted. for about three 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: Clean UI|Customizable dashboard|Regular updates|Clear documentation
Cons: No integrated tax optimization
After since the beginning of the year with www.bitworldfx.com, 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: Helpful community forum|Demo account available|Easy withdrawals
Cons: Spreads widen during volatile periods|Account statements could be more detailed