Horrible SCAM: FxBitFund review

Fxbitfund review

In this review you will find proofs that FxBitFund is an illegal and scam broker that you certainly should avoid.

What is FxBitFund

Fxbitfund is a typical broker that allows its clients to trade Forex, cryptocurrencies and stocks via contracts for difference (CFD). According to the official website it seems that it also offers binary options.

The main offer of the broker revolves around its investment plans. Currently there are four on offer with daily returns from 3 to 5% daily.

The minimum investment is 200 USD and every plan has its lockdown period, the minimum is 10 days. It means that you won’t be able to touch your deposit for at least 10 days.

The burning question is whether FxBitFund is a legit broker and investment opportunity? The answer is disappointing.

FxBitFund scam

The short answer is that FxBitFund is not a legitimate broker because it is a scam that is very dangerous for your money. And here is the longer explanation.

Illegal broker

Let’s start by examining Fxbitfund’s background. The broker claims to be based in the United Kingdom, it even provides a UK phone number for support.

Since the broker is clearly providing investment services, it has to be registered and authorized by UK’s Financial Conduct Authority. Which it is not.

This means that FxBitFund is an illegal broker that is breaking the laws of the United Kingdom and possibly many other countries.

It’s because most of the countries in the world regulate investment services and required brokers to be registered. So because FxBitFund is not regulated at all, it can’t legally offer its services in most countries of the world.

The broker is not regulated

Fake awards

One very tangible proof that FXbitfund is a scam is in the awards it shows on its official website.

The broker claims that it has won numerous awards, starting with China Forex Expo award in 2015. But that is not true. The broker has not won any of the awards it is displaying on its website, you can check it with all the platforms that distribute the mentioned awards.

But it is also proved by the fact that the Fxbitfund.com domain was created only in 2019, so the broker obviously did not exist in 2015, 2016, 2017 and 2018. Which is funny because these are the years it supposedly won all the awards.

Also, a quick check of the web archive reveals that the broker was not operational until 2022. As you can see, even in January 2022 the official FxBitFund website contained dummy texts and was not ready for production.

The conclusion is simple here, a broker that displays fake awards is a fraud.

The awards are fake

Ridiculous investment plans

As it is often the case with fraudulent investment schemes, the quickest way to reveal that FXBitFund is a scam is to look at its investment plans. Because 3 to 5% daily returns are a proof that this is a fraud.

You might not like it, but it won’t change the fact that for any legit business it is impossible to generate steady 3%+ daily returns for its clients. You have to accept this as reality, it will help you avoid many fraudulent investment schemes.

Any time you see an investment offer with daily returns like these, you can be sure you are dealing with a scam and you should stay away.

This screams fraud

How FxBitFund works

We learned about FxBitFund thanks to one of our readers that told us that the Swapnex scam was switching from the failed COTPS scam to FxBitFund. Which immediately raised the suspicion that FXbitFund is a scam too, which turned out to be true.

Swapnex even wants its clients to deposit 200 USD with FxBitFund in order to activate their accounts with this new scam! What a way to scam you a second a time.

So how does it work? All the above mentioned investment programs run dirty Ponzi schemes. In other words, they take money from new members and give it to older members. This way they build an unsustainable and illegal financial pyramid that is destined to collapse.

It does not really matter whether Fx Bit Fund is paying now or not, because its collapse is inevitable. So you don’t want to be in and waiting for your money to disappear.

Also, remember that in Ponzi schemes you can’t profit without somebody else being scammed, so don’t try participating in the hope that you will be the one at the top levels of that ugly pyramid.

FxBitFund review – Conclusion

FxBitFund is an illegal broker and an investment scam that will make money disappear. You have to stay away from it.

For financial trading we recommend using regulated platforms and starting on a demo account with virtual money.

Before trading with real money you have to make sure that you understand the risks and that you have a proper strategy.

FxBitFund

200 USD
0.7

Company license

0.0/10

Investment plans

1.0/10

Real profits

1.0/10

Pros

  • n/a

Cons

  • Fake awards
  • Illegal broker
  • Scam
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