Claims of 20 years of experience don’t always align with reality. In this Bit Financial review, we’ll take a look at a broker offering trading on financial markets, yet lacking both a license and any guarantees of reliability. At the same time, the company confidently asserts that it has been in the industry for a long time, has extensive experience, and a professional staff, and is a leader among competitors.
Key Features
- Company Name: Bit Financial
- Website: https://bitfinancial.info/
- Available Contacts: No
- Foundation: 2024
- Services: CFD Trading
- License: No
- Initial Deposit: $250
From Sign-Up to Payout
To be honest, the official Bit Financial website immediately raised doubts for us. Instead of a fully-fledged brokerage platform, we are presented with something hastily put together and of low quality. There are numerous serious flaws to point out. First, the company demonstrates low transparency, as key information such as licenses, legal addresses, and contact details is simply missing. Second, the site looks bland, using standard template design elements without any unique style — a typical trait of fraudulent platforms.
Third, the site’s menu is extremely limited: visitors have access only to the sections “About us”, “Pricing plans”, and “Markets”, and even these contain minimal information. Where are the sections dedicated to the trading platform, additional tools, and legal documents? Even the mandatory risk warning associated with margin trading is absent from Bit Financial.
Fourth, important documents like the privacy policy, terms of service agreement, and anti-money laundering (AML) policy are missing from the bitfinancial.info website. These documents are critically important for operating in the financial sector, and reputable companies always make them publicly available.
It’s hard to take a company seriously when its website is of such low quality. However, let’s go further — let’s create an account and take a look “under the hood” of this broker.
The registration process is standard: you need to provide contact details, residential address, and email, and create a password. However, the lack of a user agreement raises serious concerns. It’s unclear what rights and obligations the broker has, and this could hide many pitfalls. For example, Bit Financial could block your account without any explanation. There are plenty of potential issues like this that come to mind.
The personal account looks just as primitive as the official website, with four sections: dashboard (showing client deposits and withdrawals), profile (personal data, including banking information); and options for depositing and withdrawing funds.
What immediately stood out was the absence of a verification section. It seems that Bit Financial doesn’t even require its clients to undergo the KYC process. This is a critical requirement for all regulators. Any financial company dealing with users’ money is obligated to verify clients’ identities.
In the ‘Withdrawal’ section, the only available withdrawal method is Bitcoin. It’s likely that deposits are also accepted only in cryptocurrency. This is yet another negative factor.
The exclusive use of cryptocurrency for transactions is a red flag. Cryptocurrency allows platform owners to remain anonymous. Clients transfer money to anonymous wallets, and it’s extremely difficult and expensive to find out who owns them. Moreover, in the event of any problems, traders won’t be able to issue a chargeback, as this option simply doesn’t exist with cryptocurrency transactions.
Our Trading Experience With Bit Financial
We have nothing to say about the platform. And not because we don’t want to or don’t know, but because there’s simply nothing to talk about. The broker doesn’t describe the trading terminal on its official website. In the personal account, there’s also no button to access the platform.
What kind of platform is this? What features does it offer? Is it even suitable for serious trading? Are there mobile or desktop versions? There are no answers to any of these questions. Bit Financial, tell us something about the terminal, at least.
The Reality Check
Now it’s time in our Bit Financial review to check the company’s legitimacy. Here, the situation is similar to the trading platform issue — the company has provided no information. There are no details about the legal address or licenses on the site, no contact information, and no user agreement. We simply have nothing to examine — there’s nothing to verify.
All of this points to clear fraud. If you visit the website of any reliable, legal, and proven forex dealer, you’ll immediately see all the information: licenses, office addresses, banking details, and legal documents. Bit Financial has provided none of that. Essentially, this is an anonymous site; the company is not legally registered, and therefore it cannot have any licenses. This is an illegal activity.
How Long Has Bit Financial Been in the Game?
The only thing the scammers have mentioned is their “20 years of experience”. However, this is a blatant lie, and we assume it’s obvious to anyone who has made it this far. We have solid proof that Bit Financial is a young, fraudulent platform. The domain bitfinancial.info was registered on May 27, 2024, not 20 years ago. Moreover, the first reviews of the company started appearing only this summer.
Extra Fraud Indicators
In general, there’s no real need to dive into additional negative aspects since what we’ve already discovered is enough to confirm that Bit Financial is a scam.
However, we’ll still point out a few more indicators of fraud. For instance, the hidden trading conditions. The broker doesn’t disclose what fees it charges clients, nor does it mention the size or types of spreads. The minimum deposit also raises questions — $250, which is quite high for such a dubious organization.
Many who have searched for Bit Financial reviews may have noticed a suspiciously large number of positive comments. How is that possible? A scam company with no license having a positive reputation online? Of course not. These positive reviews are fake. The scammers simply bought them, and there’s your simple explanation.
Is Bit Financial the Right Fit?
If you come across such an empty website from a brokerage company, you’re dealing with scammers. The lack of licenses, lack of official registration, unknown trading conditions, and complete absence of legal documents — all are signs of a fraudulent platform. Essentially, this is just an anonymous site that accepts money only in cryptocurrency because it cannot use other methods. Moreover, scammers actively promote themselves using fake reviews. We strongly advise against opening an account on such a platform.
I lost over $5K in this scam trap. I believed the numerous positive reviews about Bit Financial, but they turned out to be fake. I thought there were many traders here and that it was a safe platform. In reality, it turned out to be regular scammers who were literally stealing money from clients. The withdrawals don’t work. For three months, I’ve been trying to withdraw at least some money to my crypto wallet, but I haven’t been able to. I don’t even know how to talk to these fraudsters. They don’t provide any contact information; they hide everything. I deeply regret my decision. It was a serious mistake. I wish I could turn back time, but that’s impossible. So, I urge everyone to be cautious and not invest money in this fraudulent and fake platform.
It took me 30 seconds to realize that bitfinancial.info is a scam. No, fellow traders, this is not the website of a serious brokerage company but some fraudulent platform. Can scammers really manage to fool people out of their money? This is a disgrace!! The site is garbage. I could make something like this in 15 minutes. They don’t even have legal information.