Bit Invests a Forex Broker based in the United Kingdom. This broker came to the scene a few years ago and had made quite a name for itself. Today, we are going to review it and see whether you should trust this broker or not. So stay with us.
Can you tell us what a Ponzi Scheme is? It is an elaborate business plan where clients are promised high returns with little to no risk. Anyone who engages in works with a Ponzi scheme invests a big part of their effort in attracting new clients.
The scammer does pay its early members to inspire trust, but sooner or later, the bubble is going to burst. When it comes to investment, if something sounds too good to be true, it is! A Ponzi scheme is an HYIP, High Yield Investment Program.
These investment programs rarely pay out. If you still believe you should trust Bit Invests, then wait because we still have some interesting bits to share with you. Financial Conduct Authority (FCA) of the United Kingdom blacklisted this broker.
Moreover, you will hardly find any background information or history on their website. Why is the team hiding when they do such great work? Think about it!
The Financial Conduct Authority (FCA) made a drastic move to protect the interests of traders by warning them about illegal activities. It unmasked the scam and confirmed our suspicions about Bit Invest. The authority says this website or broker has been offering its services or products in the United Kingdom without their authorization.
Bit Invest offers High-Yield Investment Programs (HYIP) under the expression of “Professional Investment Plans.” The broker goes to extreme lengths of saying investors will enjoy a 5000% gain every day.
It should be noted that any company offering, promoting or selling financial services or products must be authorized by a federal authority, like FCA in the UK. You should know, when you give your money to an unauthorized firm, you won’t be covered by any financial authority body, and you alone would be responsible for your loss. So, do your research and assure the broker you trust is reliable.
What is BitInvests? Its an HYIP company operating in the United Kingdom. It offers high returns for small investments. It does so by leveraging the investment capital to invest in the Forex Market and Cryptocurrency trading. The company was founded in the Q4 of 2017.
Its surprising a new company such as Bit Invests have so many investors already. But one thing that bugged us from day one is why there is no information about the company or who stands behind it. Yes, if you look closely at the “About Us,” you won’t find any history or team information.
The About Us page is bogus as it only tells us about what the company stands for and its mission statement. The page tells us about their intention and mission without revealing anything about them. It is a major red flag.