Cryptobitup is a broker who is not afraid of big words
A trader’s success is half dependent on the broker. But you need to look for it very carefully, since every day there are more and more scammers on the market. One of them is “Cryptobitup”.
Beautiful fairy tale
Usually, acquaintance with a broker begins with a website. If you go to cryptobitup.biz, in the first minutes it seems that there is nothing to complain about. Everything is done very well. There are loud slogans, bright pictures, animations, useful information and even several e-books on trading.
But if you look closely, read and draw conclusions, you begin to understand:
The text content is lame.
Promises lack specificity.
Some functions do not work.
Go ahead. I would like to see the registration data and receive information about who issued the license to “Cryptobitap”. There is nothing like that on the broker’s website. But if you rummage through third-party resources, it becomes clear: it is regulated by FMRRC and the National Bank of Georgia.
Cryptobitup claims to have offices around the world. But he is silent about where exactly they are. Previously, this broker’s website had at least some contact information. And now a feedback form has appeared in their place.
Broker “Cryptobitup” offers to trade through the “best and most convenient” terminal for crypto trading. At the same time, he does not tell how transactions with other assets will go. Maybe he hasn’t had time to update all the information yet? By the way, the “super platform” Cryptobitup has mobile and tablet versions. But this is where the information about her ends.
Having studied the descriptions of the accounts, we made a not very pleasant discovery. It turns out that you can customize the terminal for yourself only under one condition: by opening the most expensive deposit. And it is $ 100 thousand. Those who do not have that kind of money will trade as they have to.
The answers to the following questions were left overboard:
Is it possible to automate trading with your own algorithms.
How many indicators and graphical analysis tools will you have to deal with?
Will the broker allow the use of third-party modules for software optimization. And how this will affect performance.
I would like to say: if you cannot offer a flexible platform, let me trade in MetaTrader 4.
How many trading instruments does the broker offer?
It is not known exactly. The numbers are constantly changing. See for yourself.
|Section title||Number of assets|
|«Trading conditions»||Almost 240|
|«For newbies»||Over 1000|
|«For the pros»||200 currency and crypto pairs, 50 indices, 500 CFDs, 30 ETFs, 20 bonds|
Even 240 instruments are more than a decent assortment. So why throw dust in your eyes, pointing out such conflicting data?
As for the tools themselves, there are also questions to them. But we dug into cryptobitup.biz and figured it out. So, the broker offers:
CFDs of stocks, indices, commodities.
At the same time, he talks in great detail about how to trade not derivative assets (contracts for difference), but those from which they are produced: gas, oil, metals, indices, stocks, agricultural products. This makes forecasting easier, but misleading. The beginner may get the impression that he will buy securities or the commodity itself, rather than invest in derivatives.
How old is “Cryptobitup”
An almost unknown broker has been continuously receiving awards from various sites with a dubious reputation since 2014. Supposedly for the best services. But in fact, information about him dates back to 2018. It is at this time that reviews appear on third-party resources. They can be categorized as negative and purchased. Cryptobitup is constantly being accused of fraud by traders. Should you trust such an intermediary? Decide for yourself.