This review is dedicated to the broker BitPlus Capital, which claims to have 10 offices in various countries, such as Sweden, the Netherlands, the United Kingdom, Cyprus, Australia, and others, with its headquarters in Gibraltar. It might seem like a global firm, but there’s no real proof of the branches’ existence. Only the Financial Service Authority is mentioned in terms of licenses, and there’s no information about the duration of operation or business model. So, can such a company be safe, or is it better to steer clear of such organizations?

How to Trade

According to the description on the official website, this cryptocurrency broker offers the only instrument available for trading to clients. WebTrader is implied as a platform, adapted for mobile browsers, yet there’s no separate app for Android/iOS.

Traders have a choice of five account types, with the very first starting from 10,000 euros. The firm offers a variety of additional services:

  • Full managed account.
  • Crypto signals.
  • Average return 0,45-2,95%.
  • Personal expert.
  • ICO and staking.
  • Investment insurance and personal accountant.
  • And others.

Moreover, leverage is provided, but no higher than 1:5, and commissions are unknown. A demo account is also not available.

BitPlus Capital Vital Info

One of the most important points when considering any company is its duration of operation and experience. Unfortunately, the exact date of establishment is unknown, though 2012-2024 can be found at the bottom of the page. The approximate date of foundation can be inferred from the domain registration date, since an online broker cannot operate without a website. A special service showed that the domain was registered in July 2023. BitPlus Capital has been in operation for less than a year.

The broker claims to have branches in 10 different countries, but we will focus on two of them: Gibraltar and the United Kingdom. Gibraltar is where the headquarters is located, and the United Kingdom is mentioned in legal documents as the main jurisdiction under whose laws the relationships between clients and the company are regulated.

However, the company was not found either in Gibraltar or in the United Kingdom. What’s wrong with the firm if it provides false data?


What are the key facts about BitPlus Capital?

The company conceals its founding date due to having very little experience in operation - less than a year. The legality of its operations is questionable, as the organization was not found in the two main jurisdictions where it supposedly has offices, suggesting that other branches might also be fictitious. There's also a lack of regulation since the broker is not listed in the registries of government regulatory bodies. The business model is undisclosed, but it's logical to assume that traders' transactions are not passed on to liquidity providers, leading to the conclusion that it is a 100% B-Book operation.

What's the risk to my wallet when working with this broker?

Beyond the risk of losing the entire deposit due to using leverage, even if it's as low as 1:5, there's a more serious risk to consider. It operates illegally, meaning there's no regulatory body overseeing its actions, allowing the company to do as it pleases with client funds, including account blocking without reason or withholding withdrawals.

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