Digibits Review – Is Investing in digibitsfx.com Safe?
In this Digibits review, we uncover the truth behind the broker’s operations and the risks associated with it. Digibits, once registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), now operates without regulation, making it a high-risk platform for investors. The broker’s website, digibitsfx.com, is no longer functional, and its domain is set to expire in early December 2023.
About Digibits
Company Name – Digibits
Website – https://digibitsfx.com/
Address – Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines.
Regulatory Warning – Not Recommended By Review Website Like Scams Report
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Digibits Review: Major Concerns
Lack of Regulation
A critical red flag in this Digibits review is the broker’s lack of valid regulation. The company was once licensed by SVG FSA, but its license has since been revoked, leaving the broker unregulated. This means there is no governing body overseeing its operations, leaving traders vulnerable. Without regulatory oversight, there is no legal protection for investors’ funds.
Website Shutdown and Software Issues
- Website Shutdown: The official website for Digibits has been shut down, which indicates possible operational issues.
- Absence of Trading Software: Digibits lacks a working trading platform. Reliable brokers typically offer MetaTrader or similar platforms for traders to execute trades and access real-time market data.
High Risk with Digibits
Digibits offers several trading account types, including Standard, VIP, and Raw, with a high minimum deposit requirement of $1000. This amount is far above industry standards, raising questions about the platform’s credibility. Additionally, while the broker offers leverage up to 1:500, such high leverage increases the risk of substantial losses.
Customer Support and Transparency
Despite offering 24/5 customer support through email, phone, and live chat, the lack of a functional website and transparency in operations raises doubts about the reliability and responsiveness of the support team.
Conclusion: Digibits is a Scam
This Digibits review highlights the serious risks of using an unregulated broker with operational failures. Without proper regulatory protection, a shutdown website, and no trading software, Digibits is undeniably a scam. Traders should exercise extreme caution and avoid this broker entirely.
How Scams Report Can Assist Victims Get Their Funds Back
If Digibits Broker is scamming you then you are not alone. Contact us! Our expert team provides:
- Free Consultation: We analyze your case and advise on the best recovery strategy.
- Chargeback Services: If you paid through a credit card, we assist in initiating chargebacks to reclaim your funds.
- Crypto Recovery: We provide specialized crypto fraud recovery solutions for victims who lost money through digital assets.
About Scams Report
Scams Report is a trusted fraud reporting and fund recovery assistance company dedicated to helping victims of financial scams. It provides expert guidance, chargeback support, and legal assistance to recover lost funds. Additionally, its blog educates users by exposing fraudulent brokers and investment scams, ensuring safer financial decisions for traders worldwide.
All newly invented fraudulent schemes to fool new traders are constantly monitored by us on the Internet. For over a decade, we have been collecting scam-related data, so we do believe in knowing every UNFAIR company operating in the market. Therefore, we have gathered the information regarding the scammers from the List of SCAM Brokers for you.
Our Social Pages
Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
