Bitfreezy Review – All Tricks You Didn’t Know Exist
Bitfreezy Financials LLC is a company with a very shady background and low credibility. Especially after you find out about their offshore registration. Keep in mind that such companies have only one goal. To extort as much money from clients and vanish.
In this honest Bitfreezy review, you will gain the necessary knowledge to avoid those traps. But also what to do if it’s already too late.
|Name:||Bitfreezy Financials LLC|
|Regulation status:||Unregulated/ Offshore broker|
|Warnings from Financial Regulators:||Yes, Finanstilsynet, CNMV, FSMA|
|Registered in:||Saint Vincent and Grenadines|
|Contact info:||+ 1 (419) 982-2312; [email protected]|
|The majority of clients are from:||Malaysia, Brazil, Thailand, Iraq, Vietnam|
|Customer support:||e-mail, phone|
Regulation and Funds Protection Measures
Generally speaking, you can diversify regulations by class. You have offshore regulations with low requirements and you have FCA, BaFin or ASIC for example. These are quite rigorous when it comes to trading and require from brokers much more. On top of that, some offer financial protection in case of the company’s bankruptcy.
On the other hand, you can enjoy negative balance protection and forget about funds manipulation. Since some brokers keep money in segregated bank accounts from the company’s funds. And now comes the interesting part. None of these features is available with Bitfreezy brokerage.
Warnings and User Reviews
That’s why bitfreezy.com is already on numerous warning lists. Primarily they got a warning from CNMV. Consequently, that was republished by Finanstilsynet and FSMA. If you had any doubts about the company, now you won’t.
On top of that, there are numerous negative comments about the broker on Trustpilot. Almost 40% of those, out of 101 are negative. In fact, many scammed traders come from:
Many of those are pointing out withdrawal issues and poor educational services. But our experts can advise you on adequate solutions.
Is Bitfreezy’s Software Reliable?
In general, the trading software is the heart of any trading company. Therefore, you are looking only for the best options like cTrader or Meta Trader. In this case, Bitfreezy forex broker is quite attractively equipped. Thus, without regulations, their Meta Trader 5 becomes completely useless.
To avoid these situations with unauthorized brokerages, you may choose Top Tier licensed ones. Yet, to avoid learning for numerous years how to trade, you can use AI systems. For example, you can test out our AI Analysis bot. It simply collects all the live data and calculates future prices with technical analysis. Which makes your trading decisions way easier.
Overall tradeable instruments can be quite important. If you don’t have offered what you are looking for, then the broker becomes useless. In fact, Bitfreezy might be one of those since they are not offering stocks. Instead, you can choose to trade with:
- Forex USD/GBP, EUR/SEK
- Commodities gold, platinum
- Indices FTSE100, DowJones
- Cryptos BTC, ETH
Yet, without a proper and licensed account manager, you won’t be able to learn how to trade these. Unless you use advanced features. Such as social or copy trading, but even better AI Analysis Bot. Thus, our Abshire Smith review reveals this brokerage is not the only one that lacks important options.
Trading Conditions That Can Cost You A Fortune
One of the most worrying facts about this brokerage is its conditions. Primarily, their extremely risky leverage of 1:1000. Bear in mind that US brokerages are limited to 1:50 and European to 1:30. Not without a valid reason.
On top of all, Bitfreezy is offering quite narrow spreads starting from 0.1 pips. Not something you generally see considering the industry average of 1.5 pips. Thus, without commissions, this becomes highly suspicious. Some might think that trading conditions are irrelevant. But if you additionally read our Invest505 review, you will understand everything better.
Bonuses Are A New Trick
Instead of the Bitfreezy no deposit bonus feature, the company decided to offer up to 100% credit. It’s not necessary to mention that Bitfreezy scam broker already has numerous ways to scam you. But this is an additional one.
If you didn’t know, there are a few ways the broker can trick you with the bonus. Sometimes they require you to reach insanely high minimum trading volume. But also, they will have a statement preventing you from withdrawing any bonus funds. Ultimately, everything you made with that bonus becomes useless.
Funding and Withdrawals
Unregulated brokers are dirty and aggressive. They will use every trick possible to get you away from a withdrawal. Once you complete the Bitfreezy login feature, you will realize they don’t have trusted funding options. Instead, you can use wire transfer, Bitcoin and Perfect Money. None of these transfers are reversible.
Not to mention that fully transparent withdrawal policy and fees are not published. Therefore, you can expect a vast of manipulations. Primarily with non-existent fees. But there are a few more that you can find out in our Medco Finance Limited review.
Is It Possible to Make Money By Online Trading?
Generally, yes. The key to success in trading is reliable brokerage and the right tools. For some, it could take years to become profitable and equipped with knowledge for trading. Nowadays, with the expansion of AI tools, everything has become way easier.
So, to become better at trading you must be in the market at the right time with the right decision. Isn’t it easier to implement a proven method? Definitely! Therefore, we strongly recommend you try out our AI Analysis Bot and test it out. In any case, if you are not satisfied nobody can force you to keep using it. Get in touch with our experts today and find out more about it!
Is Bitfreezy Legit?
Not at all. The company operates without regulations a not without a reason were warnings published.
What is the welcome bonus for Bitfreezy?
A welcome bonus range between 25-100%. But keep in mind a bonus policy that can prevent you from withdrawing anything.
What Are The Account Types Of Bitfreezy?
Clients can choose between 3 account types. Those are Standard, Pro and DMA. Only with a slight difference in leverage, spreads and commissions.