Bitvesto Key Facts
🔴 Bitvesto provides suspicious products and services. A scam sign!
🔴 Bitvesto doesn't reveal much about themselves. Red flag!
🔴 Bitvesto is not authorised to sell investment services. Red flag!
🔴 Bitvesto offers automated trading and robots. Disturbing sign!
Bitvesto products and services
Bitvesto is a so-called crypto trading fund offering investment plans based on algorithmic trading. They claim that their robots make a guaranteed profit of 3.2% per week, which is seemingly suspicious. Furthermore, automated systems and robots are proven to be unreliable in the long term. Anyway, they obviously speculate with cryptocurrency investments to create high expectations.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
Bitvesto company and regulation
Bitvesto is another trading name of IOT GENIUS SDN. BHD, a company incorporated in Malaysia. They don't have a license to offer financial products and services, so it's an unregulated business that's possibly a fraud. If you want to bypass scammers trade and invest with regulated companies only. Read on to find out why.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
Bitvesto address and contacts
Bitvesto doesn't share their headquarter address and contact numbers. It's a warning sign because scammers do not operate transparently and seek to remain anonymous and difficult to trace.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
Bitvesto website info
Bitvesto.com is a domain name registered on 20th of August 2019, so it's a rather new website.
It's registered on an IP address in Germany: 88.99.63.177 co-hosting 11 websites. The websites redirect to four investment programmes- Broker24, Bitvesto, Go4Crypto and Trade4Future. All of these are very similar in appearance.
The domain's Alexa ranking is 9,322,305, so it’s an unpopular website, which people do not trust. The Alexa ranking isn’t a key factor, but the lack of popularity isn’t a positive mark.
Bitvesto.com uses privacy protection services to hide the ownership of the website. The latest trend in the privacy policy around the world denies it should be a problem but considering it's an investment service, we might as well consider this a disturbing sign.
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.