In this review we explain that Bithandel is not a trustworthy broker and why you should avoid it.
Bithandel is owned by CHP Holdings, which is a company located in Saint Vincent and the Grenadines.
The broker claims to have won numerous awards for the best platform, best customer support etc.
Bithandel is a scam
The first thing we noticed when researching Bithandel is that the awards it is showing on its website are fake. This broker has never won any true award. It means the broker is lying, therefore it is a scam.
It really is simple as that, in the financial world you cannot accept any lies. When it is about money, the trust must be at 100%.
Since it has a phone support number in Switzerland, we can assume that it is targeting at least Swiss residents. But the broker has no license from the Swiss regulator FINMA, so it is breaking Swiss laws and acting illegally.
This means that Bithandel cannot be trusted at all, deposits with this broker are not protected and it is very risky just to send money to this broker.
There are good reasons why brokers have to be regulated, there must be some protection so that clients know that they won’t lose their deposits even when their broker misbehave.
Brokers like Bithandel that are located offshore, not regulated and targeting people in regulated countries, are very often just scams made to steal money.
Bithandel review conclusion
Bithandel is a scam broker, it is not regulated, stay away from it!
For trading we recommend using regulated brokers only so that your money is protected and the company that has your money under control of regulators.