ReportingAJ September 18, 2023
Digibits Review: Introduction
Digibits asserts that it is a reliable broker that offers quick, simple, and successful online forex trading. Furthermore, they make the assertion that they are regulated, which, if true, would have been excellent news. However, the broker is located in the offshore region, possesses no genuine forex license, and essentially exhibits every red flag of a scam that we can imagine. For some reason, if you are still considering Digibits, read this complete Digibits review and give their offer more thought.
Website – https://digibitsfx.com/
Address – Suite No 305 Griffith Corporate Centre P.O.Box 1510 Beachmont Kingstown Saint Vincent and The Grenadines
Warning – Not recommended by the review website like Scams Report
Regulated – Unregulated
Domain Age –
| Domain Name | digibitsfx.com |
|---|---|
| Date Registered | December 07, 2021 |
| Domain Age | 1 year, 9 months, 12 days, 7 hours, 25 minutes, 26 seconds |
Is Digibits Legit or a Scam Broker?
In St. Vincent and the Grenadines, Digibits states that it is licensed and governed by the Financial Services Authority (FSA). However, that is not possible given that St. Vincent and the Grenadines’ local financial authorities do not grant licenses to FX and CFD firms.
We have conducted thorough database searches across several Tier-1 regulatory bodies in search of any information regarding Digibits. Notably, their name does not appear in the registries of BaFIN, FCA, FMA, AMF, CONSOB, CMNV, FINMA, or ASIC. This compelling evidence confirms that Digibits FX operates without regulation or authorization, underscoring the unregulated nature of its services.
Digibits Review: Trading Conditions
Digibits offers an exceptionally high level of leverage for a forex broker, a practice fraught with inherent risks. Digibits permits leverage as high as 1:400 for select account types, an extraordinarily high level. Their most premium account type boasts raw spreads, while others begin with spreads as wide as 1.4, which is notably generous compared to licensed brokerages. Furthermore, the undisclosed commission fees associated with the priciest account type raise concerns.
Despite Digibits FX’s claim of not imposing fees on deposits and withdrawals, it’s wise to exercise caution, as fraudulent brokers often restrict or levy steep withdrawal fees. This raises questions about the transparency of digibitsfx.com offerings, potentially pointing to misleading advertising practices.
Deposit and Withdrawal Methods
Digibits claims to offer several payment options like Neteller, Skrill, Web Money, VISA, and Mastercard are presented as potential payment options, but the truth is that the only methods accessible with Digibits Network Limited are limited to cryptocurrencies: Bitcoin, Ethereum, and USD Tether.
All may seem bright and cheerful until you attempt to make a withdrawal. At withdrawal time, communication with the company ceases, phone calls go unanswered, and your IP address is blocked from accessing the website. These fraudsters take measures to hinder login attempts and ignore email inquiries.
Regrettably, these deceitful practices are all too familiar. When your assets are at risk, it becomes imperative to seek legal assistance promptly to safeguard your investments before they are lost entirely.
Digibits Review: Customer Support
Digibits main customer support platform is a Live Chat system that is linked with WhatsApp. This extensively used application has strong encryption, protecting the anonymity of possible scammers. They also provide alternate ways to get in touch, such as a Contact Form and multiple email addresses.
It’s important to note that the digibits website only lists the Customer Service Office’s address. If this address is verified, it might be the company’s only physical location.
Digibits Review: Conclusion
Digibits FX operates as an unlicensed Forex fraudulent entity. If you’ve deposited funds with this deceptive broker, it is crucial to promptly seek our legal assistance.
Fill out a complaint form on our Scams Report website to receive a free consultation from our fund recovery service specialists. Our experts will guide you through the procedure and work diligently to assist you in recovering your funds.
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Note: The information provided in the above Digibits review is derived from existing web Digibits reviews. Please be aware that we cannot be held liable for any legal action taken by Digibits company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.
