Warning! Bitkort is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
Bitkort claims to be “the world’s most comprehensive and secure trading platform” and yet no evidence of this security is ever placed on a pedestal. Instead what we discover is a whole streak of manipulative information that aims to induce deposits from rookie investors.
We find information that the company is allegedly registered in the UK. However, after some searching online we found that Bitkort is actually a part of a whole set of different companies held by one shady individual. It was not hard to decipher that all these firm were illicit and tried to pull out money from different kind of sources. Around 20 or so firms were revealed to be owned by this person – and perhaps other affiliated shady individuals- all of which offered some service in exchange for money.
Moreover, the UK address seems to apply for all these companies, and yet nothing seemed to legitimize these businesses. It doesn’t take a genius to notice that none of these firms are regulated, even if they might be registered in the UK. But here’s the thing- some of these so-called businesses have nothing to do with FX trading, and so they have their own set of standards to cover, and that is not our territory.
However, we can say for a fact that Bitkort is not licensed in the UK.
There isn’t any further information to concern us here, which means that Bitkort is actually unregulated and most probably a crypto-related investment scam!
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
The broker is strictly offering crypto assets, with no other instruments available. The leverage is said to be capped at 1:5 which seems pretty likely considering that only crypto assets are trade with here.
There are trading commissions applied to each buy and sell done on the site, so users better be careful. But on the other hand, clients should not be investing in this scammer broker in the first place, so they needn’t worry about these fees if they heed our warning.
We don’t really know what to make of the trading software here. On the one hand it looks like a risk to traders, while on the other it does seem to offer, at the very least, some very limited trading options.
It’s a confusing mixture of third party elements and very limited trading options, such as a buy/sell button, and one or two other very minor thing. Although, we cannot really take it seriously, and we personally do not think that user will be able to trade here. Of course, the only way to find out for real is to deposit, but we won;t be doing that any time soon. Users should also forget about investing.
However, we later discover that Bitkort actually has a system of investment packages going on, and these are found in the invest section of the user area
We urge our readers not to trust these claims! There is no magical source from which Bitkort draws out money reserved for paying out clients; remember that these kinds of brokers are only after profit and are not willing to share the bounty!
BITKORT MINIMUM DEPOSIT
Basically, the depositing area is where all the investment packages are located, but there is a separate section for sending money over. All deposits are accepted exclusively in crypto based wallets.
There does not seem to be a minimum deposit requirement. The website and the user area are quite on this detail.
It’s important to note that all crypto investments are a risk. Entities such as Bitkort will try to persuade users with all they’ve got to invest, but once a payment goes through the user will not see it again.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
BITKORT WITHDRAW TIME AND FEES
The withdrawal area looks very much like the depositing one, in that is offers three separate crypto wallets, all of which are most probably never to pay out any money.
Depending on the transaction wallet type, the broker charges a different fee: Bitcoin withdrawal are issued a 0.000086 BTC fee (around $3); a 0.00150068 (around $5) ETH charge is applied to all Ethereum transactions; and a 0.00004 LTC ($0.04) charge on all Litecoin withdrawals. Moreover, it take around 40 minutes for transactions to get processed.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Bitkort is a definite scam and a risk to all. Once invested here, the user will be an a quick and steady loss streak!