When it comes to trading in the cryptocurrency market, finding a reliable broker can be a challenging task. Unfortunately, there are numerous fraudulent brokers who prey on unsuspecting traders, and BestXBit is one such broker. This article aims to provide a detailed review of BestXBit to help traders make informed decisions and avoid falling victim to their scam.
Overview
Broker name | BestXBit |
Website | https://bestxbtit.com |
Regulation | Not regulated |
License | Not licensed |
Traders’ review | Negative |
Trading platform | Unknown |
Is BestXBit Regulated?
BestxBit is not currently operative. They closed their website and their domain is not active now. Either they are planning a new website or they are permanently closed.
But, from their previous traders’ experiences, we came to know that BestXBit is not a regulated broker. The broker operates without any regulatory oversight, making it a risky proposition for traders. We did not find any kind of license information or regulation confirmation from any other regulatory websites. It is clear that they are not regulated.
Warnings from Financial Regulations
Several financial regulators have issued warnings against BestXBit, urging traders to avoid trading with the broker. The warning stems from numerous complaints received from traders who have lost their investments due to fraudulent practices by BestXBit. The broker has been accused of false advertising, misleading information, and withholding withdrawals, among other unethical practices.
What Currency Pair Do They Offer?
BestXBit claims to offer traders access to a wide range of cryptocurrency pairs. However, due to the broker’s unavailable website condition, it’s impossible to verify the authenticity of their claims. In most cases, we found traders’ reviews are not getting enough currency pairs except the major ones.
Customer Support
BestXBit claims to offer excellent customer support services, including a live chat feature and 24/7 support. However, based on traders’ experiences, the broker’s customer support is slow to respond, and in most cases, the responses provided are not helpful. The lack of prompt and effective customer support is a significant red flag and should deter traders from using the broker.
Trading Method (MT4/MT5/Any other method)
BestXBit claimed they offer trading services through the MT4 platform, which is a popular platform used by legitimate brokers. However, we did not find any proof for that claim.
What Do Traders Think About BestXBit?
Traders who have used BestXBit have reported various issues, including difficulty withdrawing funds, false advertising, and poor customer support. Most traders have had negative experiences with the broker and have urged other traders to avoid using the platform.
What To Do If You Get Scammed?
If you suspect that you’ve been scammed by BestXBit or any other fraudulent broker, the first step is to report the matter to the relevant authorities. You can contact your local financial regulator, the police, or other relevant authorities to report the fraud. It’s also important to gather any evidence you may have, such as emails, chat transcripts, and transaction records, to support your claim.
You can also submit your case through our website form. We will evaluate your case and give you a free consultation and service recommendations. You can take help from these services to get back your lost fund. Also, we can provide legal help if needed.
If you face scammed and lost money to companies like claim-ens, BBINExchange, or Ammtron, please report it today by below form
File A Complaint & Get Free Consultation
Final Thoughts
In conclusion, BestXBit is a fraudulent broker that traders should avoid at all costs. The broker’s lack of regulation, warnings from financial regulators, and negative reviews from traders are clear indicators that it’s not a trustworthy platform. When choosing a broker, it’s essential to do your due diligence and only use regulated brokers with a good reputation. By following these guidelines, traders can protect their investments and avoid falling victim to scams.
