File a Complaint Against
Know Your Options and Recover Your Funds
If you are looking for a reliable and trustworthy online broker, you might have come across Bitzoom. Bitzoom is a platform that claims to offer low fees, high leverage, fast execution and access to a variety of markets, including forex, stocks, commodities and cryptocurrencies. But is Bitzoom legit or scam? In this review, we will examine the features, pros and cons of Bitzoom and help you decide if it is worth your time and money.
What is Bitzoom?
Bitzoom is an online broker that was founded in 2019 and is based in St. Vincent and the Grenadines. Bitzoom is not regulated by any reputable authority, which means that it does not have to comply with any rules or standards regarding customer protection, security or transparency. Bitzoom claims to have over 100,000 clients from more than 80 countries and to process over 1.5 million transactions per day.
What does Bitzoom offer?
Bitzoom offers a web-based trading platform that is compatible with any device and browser. The platform has a simple and user-friendly interface that allows traders to easily navigate the markets, place orders, manage their accounts and access various tools and indicators. Bitzoom also provides a mobile app for Android and iOS devices that enables traders to trade on the go.
Bitzoom offers a wide range of trading instruments, including over 50 currency pairs, over 100 stocks, over 20 commodities, over 10 indices and over 30 cryptocurrencies. Bitzoom also offers CFDs (contracts for difference) on these instruments, which means that traders can speculate on the price movements of the underlying assets without owning them.
Bitzoom offers competitive trading conditions, such as low spreads, high leverage up to 1:1000, fast execution and no commissions or hidden fees. Bitzoom also offers various bonuses and promotions for new and existing clients, such as a welcome bonus of up to $5000, a loyalty program that rewards traders with cashback and free trades, and a referral program that pays traders for inviting their friends to join Bitzoom.
What are the risks of trading with Bitzoom?
While Bitzoom may seem like an attractive option for online trading, there are also many risks and drawbacks associated with it. Here are some of the main ones:
- Bitzoom is not regulated by any reputable authority, which means that it operates in a legal grey area and does not have to follow any rules or standards regarding customer protection, security or transparency. This also means that if you have any issues or disputes with Bitzoom, you will not have any recourse or legal support from any third-party entity.
- Bitzoom does not provide any information about its owners, team or location on its website or social media channels. This raises questions about the credibility and legitimacy of Bitzoom and makes it hard to verify its claims or track its performance.
- Bitzoom does not offer any demo account or educational resources for its clients. This means that traders have to risk their own money without having any opportunity to test the platform or learn the basics of trading.
- Bitzoom does not support any popular payment methods such as credit cards, debit cards, e-wallets or bank transfers. The only way to deposit and withdraw money from Bitzoom is through cryptocurrencies such as Bitcoin, Ethereum or Litecoin. This exposes traders to additional risks such as volatility, hacking and fraud.
- Bitzoom has received many negative reviews and complaints from its clients on various online platforms and forums. Some of the common issues reported by Bitzoom users include difficulty in withdrawing funds, poor customer service, platform glitches, account closure without explanation and manipulation of prices and trades.
Based on our research and analysis, we conclude that Bitzoom is not a legit broker but a scam. We advise you to avoid trading with Bitzoom and look for other more reputable and regulated brokers that can offer you better services and security. Remember that online trading involves high risks and you should only invest what you can afford to lose.
What to Do If You’ve Lost Money with Bitzoom?
If you have been scammed by Bitzoom or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.