Bitqon: trader reviews, platform features
Bitqon urges not to keep funds under the mattress, but instead to invest and earn on trading. The company offers over 280 trading instruments and promises to create optimal conditions for earning on various markets. We decided to conduct a check and find out what reputation this company has earned.
Bitqon Review
Only Russian localization is available on the bitqon.io website, legal documents are also presented only in Russian. There is no multilingual support. Despite the declared activity in 12 countries and serving hundreds of thousands of clients, communication methods remain unclear. Obviously, such an approach reduces the popularity of Bitqon, as there are no reviews from users from other countries.
The website states that the company has been on the market for 20 years. However, according to Whois data, the domain bitqon.io was registered only in September 2021. In fact, the broker has existed for less than a year. The claim of registration in Germany also turned out to be false, as no information about the organization was found in the country’s trade register.
In the “History” section, the company’s creators boast of achievements and awards. However, all these achievements turn out to be deceit. For example, Bitqon claims that in 2019, IAFT recognized them as the best broker in the CIS, although the official IAFT website states that this award was given to RoboForex.
All the information presented on the website is false, and scammers clearly rushed to launch the project, making many mistakes. For example, the document “Offer and Agreement” suggests sending complaints to the address info@alfacorporation, which belonged to the scam broker Alfa Corporation. A comparison of websites shows that it is the same entity.
Trader Protection and Regulation at Bitqon
The pages of bitqon.io claim that the company is regulated and operates strictly in accordance with international standards. Even a screenshot of a license issued by the regulator IFSR (International Financial Services Regulation) is presented. However, such a regulator does not actually exist.
No real regulator has issued licenses to Bitqon. On the contrary, instead of permission to operate, the company received a warning and was blacklisted by the Central Bank of Russia.
In the “Offer and Agreements,” scammers claim that clients’ deposits are protected by the Compensation Scheme for Financial Services, and everyone can get back up to 50,000 euros in case of bankruptcy. This is a lie, such a scheme does not exist. The only guarantee of protecting traders’ interests is a license from a government regulator, which Bitqon does not have.
Offers for Traders
The company offers a standard set of trading assets, including stocks, currencies, commodities, contracts for difference, and others. Special attention is paid to cryptocurrency trading, which, according to claims, brings maximum profit. To start trading, you need to choose one of the offered accounts:
- Bitqon-test — from 100 to 1000$. Basic functions for starting and learning, no deposit protection;
- Bitqon-basic — from 1000 to 2500$. Minimum level of insurance protection, the possibility of receiving payments from third parties;
- Bitqon-optimal — from 2500 to 10,000$. Increased level of protection, assistance from professional lawyers;
- Bitqon-priority — from 10,000 to 50,000$. More open deals, PAMM system;
- Bitqon-pro — from 50,000 to 250,000$. Priority in fund withdrawal, assistance from analysts department, accurate trading signals;
- Bitqon-elite — from 250,000$. Expanded capabilities, individual support at all stages of trading.
Each client has a personal manager who educates and assists in making profitable deals. Operations are carried out in the MetaTrader 4 trading cabinet, fund withdrawals are possible through popular payment systems and crypto wallets.
Bitqon Reviews
There is not a single positive review on Bitqon. All clients express negative opinions about the company and complain about significant losses.
Deception Methods by Bitqon
Scammers find their victims on forums and through spam mailings on social networks. Sometimes they approach potential clients personally and offer “proven” ways to earn. Criminals always use fake accounts and phone numbers. To avoid detection through banking details, fraudsters suggest replenishing through crypto wallets, claiming that this can avoid commissions.
After making the first deposit, the personal manager starts teaching the client trading. During the training, the client often loses all their funds, and the curator convinces them to deposit more funds, promising to return them with interest. If the client believes, their money will again go to the scammers. When asking questions, the client may be blocked, and communication with them will be cut off.
Summary of Bitqon Review
The company Bitqon is fictional and created by scammers for deception. Bitqon has already been blacklisted by the Central Bank and will soon be blocked. Scammers do not withdraw money and deceive traders by providing unreliable signals and distorting quotes to the disadvantage of traders. User reviews indicate that dealing with Bitqon is not worth it.
I am thoroughly dissatisfied with the broker’s work due to lack of communication, inefficient trading platform and unattended traders’ issues.
I had a very disappointing experience with Bitqon. The platform is difficult to navigate and lacks user-friendly features. It constantly lags which caused me to miss out on timely trades. Customer service is terribly slow at responding to queries and often provide unsatisfactory solutions when they do. There are also hidden fees which they fail to disclose upfront. I grew increasingly frustrated with the lack of transparency. This is definitely not the right broker platform for anyone who values seamless transactions and clear communication. I would highly not recommend Bitqon.