Bitcluxury.com is an online broker that offers trading services in forex, cryptocurrencies, stocks, and other financial markets. This broker has been in operation since 2018 and has attracted the attention of many traders due to its high leverage and low trading fees. However, some concerns have been raised about the legitimacy of Bitcluxury.com, with some traders claiming that it is a scam. In this article, we will review Bitcluxury.com and give our opinion on whether or not it is a legitimate broker.
Overview
Before we dive into the details, let’s take a quick look at some of the key features of Bitcluxury.com:
Feature | Description |
Type of broker | Online forex and CFD broker |
Regulation | Not regulated |
Trading platform | Own trading platform |
Minimum deposit | $250 |
Leverage | Up to 1:500 |
Spread | Variable, starting from 1.6 pips |
Currency pairs | Over 70 currency pairs, as well as cryptocurrencies, commodities, and indices |
Customer support | Email, phone, and live chat (only after sign up) |
Is Bitcluxury.com Regulated?
We do not find any regulation or license information on their website. When we go to their About Us section, we see a bunch of texts, a roadmap of their company, and how they work. They don’t even mention who is on their team, their CEO name, their regulatory country, or their organization.
Warnings from Financial Regulations
Several financial regulators have issued warnings against Bitcluxury.com. For example, the UK’s Financial Conduct Authority (FCA) has warned that Bitcluxury.com is operating without authorization and likely to be a scam. The Australian Securities and Investments Commission (ASIC) has also warned against Bitcluxury.com, stating that it is not licensed to provide financial services in Australia.
These warnings indicate that Bitcluxury.com is not a legitimate broker, and traders should avoid it at all costs.
Is Bitcluxury.com Can Be Trusted?
Given that Bitcluxury.com is not regulated and has been warned against by financial authorities, it is difficult to trust this broker. Traders who deposit money with Bitcluxury.com are taking a significant risk, as there is no guarantee that they will be able to withdraw their funds or that their trades will be executed fairly.
What Kind of Currency Pair Do They Offer?
- USDT
- BTC
- ETH
- BUSD
Customer Support
Bitcluxury.com offers customer support through email, phone, and live chat. However, there have been reports of poor customer service, with some traders claiming that their queries were not answered promptly or satisfactorily.
Trading Method (MT4/MT5/Any other method)
They use their own trading platform for trading. Here is the live trading image from their website:
What Do Traders Think About Bitcluxury.com?
Unsurprisingly, there are many negative reviews of Bitcluxury.com online. Traders have reported difficulty withdrawing their funds, as well as poor customer service and suspicious trading practices. Some traders have also reported that their accounts were closed without warning or explanation, and their funds were frozen.
What To Do If You Get Scammed?
If you get scammed by Bitcluxury, submit your complaint to us. We will provide you with a free consultation and service recommendations to help you recover the lost funds.
File A Complaint & Get Free Consultation
Final Thoughts
In conclusion, Bitcluxury.com is not a legitimate broker and should be avoided at all costs. Its lack of regulation, poor customer service, and suspicious trading practices make it a high-risk option for traders. While its low trading fees and wide range of financial instruments may be tempting, the risk of losing your funds or being scammed is simply too high. We strongly recommend that you choose a regulated broker with a good reputation, even if it means paying slightly higher fees. Your safety and security as a trader should always be your top priority.
