First Bit Review

Read our First Bit review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a firstbit.io review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So First Bit is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.

How does it work?

Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.

Make sure you leave reviews about First Bit in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.

First Bit Review Conclusions

Making the First Bit review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our First Bit review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

etoro

61 COMMENTS

  1. Yes this site https://firstbit.io is a fraud they forcibly ask you to invest in cryptocurrency and in 3 to 4 sessions your account manager will assist you like you will get more money. All this happen full fraud and once you request for a withdrawal they play the game of delay or document verification or some reason and make sure they will delay and not allow withdrawal. If you force them one fine day account manager will come and guide you to invest in wrong share and make sure you lost all your money so that you will never come back or withdraw money. This site is completely fraud please please beware. Also their contact numbers are as follows:
    +911171279859,+911171279175,+911171245929 these are the sample phone numbers i mentioned here.
    Please please please never invest your one rupee also their website it self is fraud and they will manipulate the currencies and they will take out your all money and you will end up in loosing all your money and not doing anything. They ask simply that document and this document and verification all are fraud. If you want first chineese lady will speak after that some istanbull and south africa. If you ask them which country they always say southafrica and even receptionist will never say which country they belong. But phone number seems to be from delhi. Can you guys help me to put law suit against them to get back my huge money.

  3. Firstbit.io is certainly a scam, and everything claimed by other comments is correct. They use every trick in the book: they lie, they hide behind multiple names (probably false names), they obscure, but mainly they delay, delay, delay! I sent this site’s name to my bank and card provider to assist convincing them the site is fraudulent and to achieve a refund. Today I intend contacting every bank and card provider in New Zealand with a fraud alert. Also, I have started a process of leaving comments on bitcoin scam sites, first in New Zealand, but also more widely. Their assurances are not to be believed. They promised a refund within 3-5 days, but that time has elapsed. Another technique they seem to use is bogus attempts to phone to settle the matter that day. All that will do is give them the opportunity to misrepresent any conversation later. I have had multiple promises of a refund that have not been met.

  4. Totally agree with all the reviews.
    They have NO INTENTION of allowing you to WITHDRAW….Pack of con-men BASTARDS…
    Slick talkers, would steal the bridle off a nightmare.
    Don’t be fooled by them..
    If it sounds too good to be true, it usually is.
    I was contacted and told to ring them to talk through how I could get a refund straight away.
    I told the bloke that it wasn’t up to me to “ORGANISE” a withdrawal..It was part of the account.
    Next thing, my withdrawal request was shown as cancelled..But ole mate couldn’t tell me who cancelled it and why!!!!

  5. Yes, I agree that firstbit.io is a complete fraud. They use all psychological means to deposit your money with them. After that they simply dont allow you to withdraw money. They will give you wrong advise and make you lose money only. They stole my 2000 USD

  6. They trade with their expert and you actually make money which convinces you to invest more. Then they help you trade with no logic, lies, contradicting information and your money is gone just like that…poof!

  7. I agree wholeheartedly. I was pressurised and subjected to a session of vip trading where all the transactions were supposedly being done at the scalping rate. My screen just had dots on it and there were no losses at all even when there were delays with closing on my part. Because of the supposed success I was convinced to deposit more money They were not happy that I refused to access my actual bank accounts online and pressurised me to do so with the share screen on display. I am sure too that my identity was also at risk when asked to verify. I only paid with credit card and with multiple smaller amounts less than 1000 as instructed 5000 in all Interestingly there are 4 different companies that collected the funds
    That were supposed to go to FirstBit Aspasium Loren, Premium Cloud hosting, Central Fin. I am u der no illusion that my money is not in a secure localised bank account with my name on it Apparently also a non functioning streaming company Xstream Guru also has another name as Aspasium Loren and Mars. So I think their scamming fingers are in lots of pies. Leonie E

  8. They use bonus to make you deposit more money for a higher leverage. They also try to steal your account detail during deposit. You don’t get any trading statement and no answer when you ask to withdraw

  9. Thanks for these information, but I was late to read these I’m already victim. It was big mistake of me. The land call number is from +44 which is from London UK, it shows in my mobile. The guy said will call me on Wednesday which is tommorrow jan 6. But he call me today tuesday jan 5. To discuss about activate my deposit. I told him straight you’re SCAMMER. I know I will not get my money back. He’s still insisting that I can apply for withdrawal and follow the procedures. Oh yeah, you’ve already stolen it so how come I should apply for refund that you and your friends Hyena already divided my and others money.

  10. Oh my, i think I am a victim too..I invest $US500 and i think i am a victim too…and they keep asking me to invest more US$250, and I said no way–after that they let me invest again-then i lost my money–tsk…this is really scam

  12. I would like to tell all those who have been defrauded by this firm that I am going to send emails to finance regulatory departments of dominica, UK, South Africa, India and US and many more countries. Every country has an online cyber crime reporting website. I am doing all of that. Please inform the bitcoin exchanges that websites like http://www.firstbit.io and http://www.coindaq.io are complete frauds. I am going to send emails regularly. I urge every one of you to keep sending emails regularly. Sooner or later , someone will take a note of it.

  13. Looks Like I got taken as well, $1250.00 Tomorrow morning they want 24,000.00 so I feel kind of lucky in a way that I found out now that they are a scam.. Or tomorrow they would have got that as well.. Thanks and I look forward to finding out how I can try and get my twelve hundred fifty back.. I will not be answering my phone tomorrow morning that’s for sure..

  15. The bank has been informed of my dealing with First Bit and the police are now involved here in Canada and in the next 10 working days I will know if the bank was able to get my money back for me. These people sucked me in like I was a child in a candy store. They need to be shut down fast or there are going to be hundreds if not thousands of people that are looking for a way to subsidise there retirement money to live a decent life when they retire. I only know how easy they got me and I always consider myself a person that would know, but this time it was only luck that saved me and this site and you people that posted your story about this company.. If I didn’t see this when I did I would be out a fare amount of my retirement money. Would have probably made me blow the rest of my retirement money on something to make my exit from this stinking world a little easier. I just don’t understand how these people get to do criminal dealings and get away with it. These criminals need to go to jail for what they are doing to people that are just trying to do the right thing to make a little more than they can from what the bank gives in interest and for that they lose it all? WTF … there is something wrong with that picture.. I hope this website saves more people and that is why I am posting my story here. I will post the end of it in 10 working days when the bank lets me know if I will receive my money back. Do NOT Deal With FIRST BIT. EVER!!

  16. Hi Friends,
    I transferred 250 dollars for account registration and asked for more time.I never used by credit card but only debit.He was rushing me to put more money, but I said give me a week time.
    Pls take some trades to see if the system works.
    He took two trades and both showed green in 5 hours.I don’t know how he did it.
    But I checked the reviews, I am not sending any more.
    The accounts manager was in a rush, and suddenly said I have to deposit 2,500 dollars,with a three month plan to make 15 thousand dollars.Sorry lots of red flag in my mind and reading these reviews I am sure this is a scam.
    Thank God I didn’t send any I’d proof or deposited any more money.
    Pls be careful for scammers.
    It’s one person with different names.

    Nathan

  17. I am also one of the victims. I was also scammed for 2000USD . I think they usually scam for 2000-2500 USD.
    I found some information on their IP addresses:
    172.67.162.214
    104.27.168.232
    104.27.169.232
    All those who are scammed , please contact me at [email protected]

  19. I have been asking for a refund and they seem to be playing the delaying game. One or the other excuse for the delay. They claim they are genuine and they will recover my money. But they have all the excuses to delay it as much as possible. Its one their specialised tactics. No other option but to keep following up.

  20. Same request $250.00 to deposit
    And they seem really nice Friendly on the phone
    But keep on phoning you so many times so they can try to scam you for more money.
    Of course the told me if I put 2,500 or 5,000
    Within 3 months or less will have between 13,000 to 20,000.

    They where rushing me to take money from my credit card or bank account, but told them I only invest money when I have available money not one someone is pressuring me to give them money.

    Did not fall for there scam but they where quite convincing, hopefully people don fall into there trap
    Scammers be careful don’t invest with them.

  21. I was taken in by these inspiring salesmen.
    I lost a lot of money. They made lots of trades. Lots of them looked great then bigger trades went south and I lost everything.
    Now they are pressuring me to give them$5,000 to get into an ‘event’.
    Hours of coaxing, how they gonna regain me many of my losses. Manage my account properly.
    I almost went for it.
    Thanks for leaving all these reviews.

  22. I too have to fallen to these scammers, I have been pressured to transfer my hard earned cash in return for vip trading with a personal trader. They have provided bonus money and high leverage which has lost me over $30000. I’m stuck with them with hope of trading to redeem my losses.

  23. All the guys had comment on Firstbit – Thank you very much, your thought is greatly appreciated. I too was conned for $250.00 only and the Account Mgr suppose to call me today to explain more things and I know what to tell him. I will tell him about the Google Reviews and ask my refund ASAP. Kyle is the guy who talked to me first and took my $250 thru my credit card. There is one more Scam going around, luckily I did not fall for it. It called World Markets, you have to deposit $5000 and the return is greater than 24% per month and there is graph showing in their website. They trade in Gold and Forex, they say they are regulated and registered. Several people have lost their money. When asked for the refund, they pay sometime, but they delay often. I think this is Ponzi scheme. I asked them questions and did not receive favorable answers. So please be aware. Keep safe & secure.

  24. Please note, that First Bit uses Veritex as their money transferring bank and they are located in Dallas, Texas.
    If anyone has deposited their money, please write to Veritex and they will reply you and may give you their advise. I just wrote to them and told them about First Bit and have asked them to refund my $250.00 if they have not processed my transfer. I will wait and see what they reply and will add to my blog here. Good luck and be safe.

  25. Definitely a scam do not give them any money please save your money once the money is deposited no matter what you wont ever see it again they do not give your money back even if you tell them 10 times to withdraw all the money deposited they won’t give it back and make excuses.

  26. I was scammed for $250. I have emailed to their Manager to return my $250, but have not heard back from them. They told me that they operate from South Africa, Cape Town. So I have logged a complain to FSCA
    which is South African Financial Regulator. They have emailed me that they would look into this. I have told them that lot of people have lost money and First Bit is SCAMER big time. I found out that they are registered in Dominica, but they are not Regulated. Someone in this blog has given an email [email protected] and anyone wants to ask a refund from First Bit should email them and they would advice accordingly. I will be emailing to personalrewiews1 today about First Bit and see what they have to say. Good Luck to everyone to get your money back, hope you succeed.

  29. Anyone who is scammed by FirstBit, you may write a review on Trustpilot. I got scammed by FirstBit for $250 and when I asked for a refund, did not hear back from FirstBit. So I have written a review on Google and then on Trustpilot and they said that they would contact FirstBit. I want to wait and see how FirstBit is going to react to Trustpilot. When I wrote my review on Turstpilot, someone wrote a review immediately saying there is no scam and everything is OK. As soon as I read it, replied it saying that person must be from Firstbit. The person who written a good review about Firstbit is “miguel Roegeers”. You may see his review in Trustpilot.

  30. Well,having read all the reviews I consider myself lucky and a little bit perplexed.
    I initially’invested ‘ 500 dollars with them and was put through the same hoops coming out out on the other side with a gain of about 250 bucks in a couple of days.
    However,this crypto currency game was not my cup of tea and I said I wanted my money back.
    It took about 4 weeks due to delaying tactics ,I refused too give confidential info, and ended up me sending them a very abrupt and accusatory email.
    Well ,lo and behold , I got an email saying that it had been sent to Veritex who then sent the money back to me via interac.
    Why they did that I have no idea.
    They did bombard me with phone calls later and it ended up me telling them to F**k off(one call 6.30 am !)
    Conclusion : I have been lucky but would steer clear.

  31. Oh no.. me too $334.15AUD to Pivot Payments, FirstBit.. did it 2.30am Saturday 5th March 2021, stopped my card at 3.30pm same day.
    Only had $400 in account.
    Then I’ve read these reviews.
    Stupidly I uploaded my Drivers licence, my debit card but with middle numbers and ccv blocked, and part of another account statement. Duh!!
    Expecting a phone call in 24-48 hours.
    Will talk to my Credit Union on Monday 8th.

  32. I invested $250 only and once I realized First Bit is scamming operation, asked for a refund of my $250. I just received an email saying that one of their Manager will contact me and help me to claim my $250. I will wait till next week and see what happens. I feel sorry for everyone who lost their money. I hope they email them more than once to claim their hard earned money back. It looks like they are operating from Cape Town, South Africa and they are registered in Dominica, but not Regulated. Gook luck everyone and keep safe.

  33. CP- Don’t invest any further any amount, I have invested over $100,000 and stuck. All marking demonstration to make quick money is fake, in fact in the last one month I have coordinated with over 15 traders in FirstBit. Each trader specialist is the layer and they have no ethics. Fitbit’s goal is to get maximum from your pocket. They are well aware of the banking system. Traders specialists will request you to share your screen and will ask you to go to the bank account and transfer funds through various options. you the second day for more investment and the team will not let you go. Also doesn’t accept any bonus, the Bonus T & C are the killers of your investment. if you need more information please send your email addresses, I can share my communication with you.

  34. Hi

    Yes, my first 250US dropped to $150 then to $275 after I complained.
    But the get me in the very early a.m of the day.
    Nothing seems enough and I have asked to withdraw but they are stalling.
    Warren

  35. Attn: TT & Warren, please don’t give up on FirstBit crooked tactics. Write your review on Google, Trustpilot and any other website you may find. Let the whole world know who First Bit is and their tactics. I am sorry to hear that you guys fell for it just like me. I am really sorry to hear about TT who invested $100,000, please don’t give up and i wish you the very best. Today another of their accomplices called Veritex emailed me saying if there is anything wrong, because I had noticed that First Bit transferred my $250 to Veritex. I had emailed Veritex saying to return my $250 ASAP. I have replied them again to return my $250 ASAP.
    This morning one guy from First Bit named Brett phoned me saying that he would call me tomorrow and help me and show me my account. I will wait for his call and tell him, the exact way how I feel about First Bit.

  36. HI guys
    i lost a lot of money here too. they keep forcing you into depositing money, they took advantage of my personal situation.
    i think my big investment is long gone. very sad.

  37. Hi cd, please don’t give up. Write to First Bit to return your money ASAP. You may also write reviews on Google and Trustpilot. Let everyone know who First Bit is and how crooked their operation is? Good luck to you guys, hope you will get your money back.

  38. Used my credit card $250.00 to invest with these idiots, luckily that is all I invested,
    Called my credit card company told them the situation, names phone numbers, dates, and after 2 weeks got my $250.00 back.

    My credit card company called them to take
    care of my situation.

    If you use debit, credit card, or other forms
    Give your bank, credit card company’s Your brokers, whoever you use as much information as you can to rectify your problems.

  39. First Bit and Veritex together are a gang of hooligans or outlaws. they robbed me $2700 usd by using Zoom Screen-share in Feb.2021.
    Realizing being scammed I asked to get refunded the second day.That moment they requested my ID verification and I questioned why they did not want my ID firstly before taking my money into their account.
    Obviously it was a trap with those unregulated gangs. I don’t want my ID to be stolen too.

  40. I am one of the victims of this evil scammedbags..I lost $1500 and it’s only tonight when I tried to open this bogus FirstBit website to open my account, it disappeared online and cannot see anymore. I emailed them 3 times to refund my money ASAP because I was already doubting about their integrity but I never received answer from them..Now I needed to get back my money. I am glad I’ve read all these horrible informations about these devils!!

  41. I was a victim I lost thousands of dollars
    They should be stopped from further defrauding people
    Someone should alert the fraud department of South Africa-that’s were I think they are hiding

  42. First Bit people are in Cape Town South Africa. First Bit is registered in Dominica but it is not regulated. I have written once to South African Finance Regulators and they replied saying that they would look into it. Anyone who is defrauded should write to them and complain. They are operating a scam for sure and they should be stopped and punished. Good luck everyone and be safe.

  45. My 65-year-old mother (who is in fragile health; she is waiting for a lung transplant) has been scammed out of over $90,000 by FIRST BIT. She was called all hours of the night by the FIRST BIT traders with promises of big market gains but as per FIRST BIT, they do not make trades for individuals. But they do. With what they deem ‘PENDING ORDERS.’ Meaning if the market meets certain conditions then an order goes through. This information is nowhere to be found on their website. My mother was unaware the FIRST BIT traders would take PENDING ORDERS out of her account (up to $10,000, at a time). The more money they take the more desperate the victim becomes. Another scam tactic First Bit utilizes is what they call ‘BONUSES’ to evaluate their exposure on the market (supposedly). Then they only allow victims to WITHDRAW their funds when their account balance is over $50,000, and this amount does not include the ‘Bonuses.’ My mother tried to withdraw her funds when her account balance was over $125,000, and her withdrawal was canceled. WHY? FIRST BIT is an epic SCAM. I want this company to be held accountable for its deceptive behavior. The entire FRIST BIT process was designed to TAKE ADVANTAGE of vulnerable individuals. My mother has contacted her bank and credit card for a chargeback but I am looking for additional solutions. I thank everyone for their comments and suggestions in this forum. It’s very helpful.

  49. TT: The South African Finance Regulator is FSCA, you may complain to them. Please write reviews on Google, Trustpilot & any other websites that you may know. Don’t give up your fight with First Bit, insist that you want your money back ASAP. Good luck, hope you succeed.

  50. Hey Darc, I am in the same situation as you. Don’t trade with any new traders. Keep hold balance and request withdrawal every day for your records. They might ask you 20% of the bonus amount because of non-compliance with the trading volume. and that would ok to give them 20% and withdraw amount and close your account.
    It’s a big scam. My understanding is FirstBit income is money we deposited, bound and so call our deposit is the fake amount and trading platform.

  51. I did not think I would be back here having learned my lesson, but here I am again. I am wondering if any of you that have online banking let them into your account when you were dealing with them and have been hacked and money gone missing from any of your accounts, savings, checking, or visa cards since you told them to kick rocks? These people have been in a whole lot of peoples online bank accounts, they are practiced at what they do and make you feel safe when you are talking in the beginning and catch you off guard while having you go into your accounts while they are on your screen with you. I want to warn all that have had them in yours, make sure you let the bank know this and do what ever it takes to not have yourself vulnerable. I am not saying it was them that hacked my accounts, just that they were in mine and I was hacked by someone who knew information about me. I don’t want it to happen to anyone else if by chance it was. Its not a good feeling when you realize some one is funneling your money while you sleep. If it has happened to you, I have a file number I would like you to have.

  52. This is my 2nd post. I was scammed by firstbit, I reported it to my bank what happened. Then they told me they are going to dispute my case. After 3 weeks I received a letter from my bank informing me that they cannot put money back to my account because my case upon their investigation is lack of evidence…is that all the bank can do to their client who is a victim of fraud or scam? It is very clear that the records of my account reflecting firstbit.com has taken the money from my account and they knew that it was a scam. I am going to write my complain to other agencies that can help me. Can you help suggest me where to complain regarding this scam? Thank you.

  53. Nelda – I am sorry to hear FirstBit scammed you. You may tell your bank that you will post a review about them on Google, Trustpilot or any websites that you or your friends may know of. I am not sure if your country have an agency called FICOM who regulates the Banking System, you may complain to them. You may lodge a complaint to the Police Complaint. You may send your Complaint to FSCA – South African Finance Regulator. Please don’t forget to inform FirstBit that you are sending your complaint to all these people so that they are aware that your are taking action to put them out of business. I wish you every success in getting your money back. Good Luck.

  54. This is my 3rd post. Thankfully, God was working on my behalf. They refunded all my money in the amount of $1750 back to my bank account after demanding my money on emails many times. Don’t stop emailing them. Thank you God! I did what the Personal Reviews advised to me.

  56. I finally got my US$250 back. It took 3 months but atleast the Mastercard chargeback finally worked.
    I should have done better research before giving these scammers some of my treasure. Just glad I didn’t give them more! These guys are thieves.
    “The only thing necessary for the triumph of evil is for good men to do nothing.” ― Edmund Burke
    Thanks Personal-Reviews.

  57. Sadly, I was scammed as well. First by a smooth talking used car salesman who promised to call me everyday for daily trading. We traded one day then his boss came on and yes i deposited another $5000, Then no more phone calls for 9 weeks. Then a smooth talker came on and had me “gamble” on 3 trades , which all lost 100%. Then one month later I received another call asking for more money. I refused , then no more contact. They will not answer my emails and you cannot phone them back on the numbers they contacted me on.

  58. One fine day account manager will come and guide you to invest in wrong share and make sure you lost all your money so that you will never come back or withdraw money. This site is completely fraud please please beware. Also their contact numbers are as follows:

  60. Thanks for your comment. I am glad to hear that you got your money back. I did invest only $250.00 and have not got it back. I asked for it and they want me send them my personnel documents and did not feel safe sending them. It has been about 5 months now, can I get my money back, please let me know. Thanks.
    [email protected]

  61. FirstBit are common criminals that will steal as much as they can from you. Great con artists they will have you opening up your bank account by Zoom and will hypnotize you into sending them your hard earned money.
    They say they’re from S.Africa and all have the same voices, just different generic names that are untraceable.
    DON’T FALL FOR A WORD THESE HEARTLESS BASTARDS SAY TO YOU. Just get out before they have their claws in you.

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