Read our Trade The Bit review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a tradethebit.com 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 Trade The 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 Trade The 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Trade The Bit Review Conclusions
Making the Trade The 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 Trade The 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] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
SCAM ALERT: PLEASE DO NO TRUST OR DO BUSINESS WITH TRADETHEBIT SPREAD THE WORD AROUND THE WEB TO PREVENT OTHER VICTIMS
WHEN I CONFRONTED THEM THEY TRIED TO SAVE TIME BY SAYING THEY WOULD RETURN MY MONEY IN 24 HOURS, THEY CALLED THE NEXT DAY BEING EXTREMELY DEFENSIVE, DISRESPECTFUL, YELLING AND INTERRUPTING ME AND THREATENING THAT I WAS DOING MONEY LAUNDERING. THEY CONNECTED ME TO THEIR FINANCIAL DEPARTMENT (WHICH WAS THE SAME GUY JUST USED A DIFFERENT NAME) AND CONTINUED TO ARGUE WITH ME AND DEMEAN ME. HE THEN HUNG UP AND LOGGED ME OUT OF MY BITBUY.CA ACCOUNT. I NOW HAVE NO ACCESS TO THE MONEY AND ALL THE PHONE NUMBERS THEY GAVE ME AND THAT ARE ON THEIR WEBSITE ARE UNREACHABLE.
I saw this Toronto Star article about Bitcoin Buyer and how you can make a lot of money quickly on this platform. I smelled a scam but kept reading anyway. I clicked the link but before entering any info, I googled bitcoin buyer and came up with nothing. RED FLAG! But I decided to register anyway on bitcoin buyer. After entering my name, email and phone number, I was redirected to Trade the bit and asked to contact them for deposit. I thought it was odd, why could I not set up my own deposit? Less than a minute later I got a phone call from someone from Trade the bit saying they can help me set up my deposit. I was very skeptical and told the guy I could not find any info on them. He told me to look for Trade the bit on Trustpilot – all positive reviews, I was still skeptical until I saw your review. I told him I need to think about it and that’s when he started putting pressure on me. I hung and called me back 3 more times, I did not answer. So glad I did not provide any financial information. SCAM!
They talked about the robot invest. I wanted to do that. I wanted to invest in bitcoin and use the famous roboinvest and I put in the minimal $250.00 because that is all I have. All the broker did was tell me I would not get anywhere unless I put in another $1000.00 So I just said screw it and put in to get my money back. If I do then good if not I will do the roboinvest with another company when I get the money Dont go with these annoying idiots
Scam thieves. I requested my money and they flat out said rejected. They tried to talk me into putting 1000 s of dollars in there system but of course I didn’t. Beware they are thieves.
I was curious about this AI software for investing so I put in my email and phone number. Before I even go close to starting to read the T&C’s I got a phone call. RED FLAG right there for me. Then he kept pushing for the name of my bank, RED FLAG again. I kept saying I wanted to do some more research on the whole thing and just kept getting pushed in to giving information so they could do the first deposit. REG FLAG yet again. Was told they would use their money for my first 14 days as a trial, but would still need my bank’s name. I finally said enough pushing. I will do my own research, thank you. Hung up and blocked the number.
Just wanted to let you know Tradethebit is a
scam! They took my $2080.00US and after several months won’t return it! i refused to let them onto my computer via Anydesk, to get my
money back! I don’t trust their company to do that! If you search them online there are others who have had similar experiences! Often when you talk to people with different names at Tradethebit, i think it’s the same 2 people! They are relentless with phone calls and emails you can’t respond to! Please put Tradethebit on your blacklist so other honest people don’t get burned!
Rob A
I wanted to invest in bitcoin and I putted in the minimal. All the broker phoned me and told me that I would not get anywhere unless I would deposit more money so I did. Trade the bit is a scam. I made a withdrawal request never got my money back i lost several thousands dollars. It’s been several withdrawal request Month after Months always been rejected and it’s supposed to take 7 to 10 working days according to their policy. When you make profit on their platform you receive calls from agents constantly but it’s only good to the company and agents not the investor try to make a withdrawal see what happen if you will get your money back I didn’t after several attempts.
I opened an account with TRADETHEBIT.com. somehow or other they convinced me they can help me to make profit very soon and its better than investing in the Bank. I started with US 250/= Then three more times totalling upto 9250/= Cdn. So called manager who promised to make good profit left and second person took over, and a third, finally leaving only $ 1000/= Third person , when I
I wrote to Netcoin asking for help to close my account , as I sensed they are not trustworthy, and was told they have no jurisdiction over that area. When I read the comments really understood what kind of crocked bunch of people they are. This is the only saving I had. Iam a senior woman badly in need of money now.
I foolishly gave them $1000. I “made” over $200 the first day. I asked them to send me the $200 which they did. I then asked to close my account and return my money. They stalled and came up with all sorts of statements like “I’ll have the finance department contact you.” Didn’t happen.
Fucking scam burn the place down
I invested the minimum amount of $400.00 US and they seemed to be making a very good profit but every time I spoke to them they would pressure me to invest more money which really made me wonder so I asked to withdraw some of the money just to make sure that I could and then I might invest more with them. They would not allow me to withdraw my original $400. investment even though my balance was over $700. at that point but said I could withdraw $300.
Believing that I would invest more they sent me $300. within an hour or so with no problems at all but when I didn’t invest more they got very irate and nasty passing me off from one trader to another but they would not do any more trades from that point on and just kept pestering me to invest more with them or to close my account and withdraw my money. Finally I got fed up and told them to close my account and send me my money. That was 45 days ago and counting and I have sent them many emails and called the customer service line many times since then but they just keep asking for more time as their finance department is very busy. I have come to believe that not only do they not have a finance department but it seems to be obvious that they have no intention of ever returning my money. I consider myself lucky because I only got scammed for $100. in the end but make no mistake, this is a TOTAL SCAM!!!
Do not invest with TradeTheBit because you will never see your money again! SCAM SCAM SCAM
I got scammed recently by trade the bit. I had invested 6500 Canadian, one friend invested 38000, another 10000 and a fourth 5000. The first two, myself and the big investment got daily calls and day trades for 4 months with no problems. We brought a couple friends in thinking how great it was. Suddenly one day contact stopped to All of us. The customer support doesn’t help, there are no contact numbers. I emailed my account manager daily with no Response. They ghosted us and there is nothing we can do. They got what they wanted then the ignored us. It’s been 2 months. Do not trust this broker as they are scam artists. It’s all smoke and mirrors and they try to get you to re invest often and once you stop they are done with you. I feel like an idiot and so do my friends. Don’t be an idiot. I am Speaking from experience. If it seems to good to be true, it probably is.
SCAM! Do Not Give Them Money!
UPDATE 2
In reporting Trade the Bit to ShakePay, their security and risk assessment team is performing an investigation. In doing so, I was notified that despite being the victim in this scam they are disabling my ShakePay account and will not let me create another with them in the future. Beware that not only will you lose your money to Trade The Bit you will also lose access to any payment platform such as ShakePay that the scammers associated themselves with.
UPDATE 1
Since posting this review, outing Trade the Bit, and filing a Whistleblower report as the fraudulent scam they are to both TrustPilot and ShakePay, Trade the Bit has now locked me out of my Trade the Bit account and stolen all of my money. They will not answer their support number, account managers will not answer the numbers or emails they provided.
All positive reviews are fake and/or from people, they are scamming prior to the actual scam. BEWARE, do not give this so-called company a cent, you will never see it again.
If you left a positive review here prior to them stealing your money, please update your initial review!
Trade the Bit is a SCAM!
This company is a scam! They are very nice in the beginning, professional scammers working to gain your trust. But you will get passed onto a different account manager every few weeks trying to get you to invest more. They will take your money and give you all positive signals and make you “money”. Then they will get you to give them a positive review here on Trust Pilot. Then they will show you’ve had losses and you need to invest more to pad your account so you don’t lose it all. They will call you weekly for a few months and then when you don’t put more money in they will cease all contact they will not call you, respond to emails, respond to complaints, or live chat. Their support is useless they say they will escalate your concern and have someone call you and they never do. Support tells you you can withdraw from your online account and when you do they will cancel the withdrawal request. Soon they’ll block you so you can no longer even call support. They will never give your money back. These people need to be taken down.
Your loss was a lot more then my 320 I feel for you. These people need to be stopped
Trade the Bit is a SCAM!.
Senior Account Managers Scammers:
Steven Adamczyk [email protected]
Max Ward
[email protected]
Peter (didn’t get last name or email)
Elena Katz
[email protected]
Mila Romanova
[email protected]
Eric Baker
Finance Department at Trade the Bit
+44 117 472 7116
Adam Leventis (so-called Manager)
+44 7830 314 002
Whatsapp number
Trade The Bit is definitely a scam, Beware of them and do not give them a dime because you’ll never see it again. They would approach you by phone and claim they are registered and that they’re allowed to operate in your area, they are very professional in offering great return, bonuses… but it is all fake. The minute you transfer the money from your shakepay (or similar) account to the wallet address they give you, your money gets transferred to other e-wallets and completely disappears. They would totally ignore and shut you down you when you want to withdraw money or close your account, I lost nearly 10K with them in just few months. Anyone dealing with them is at a very high risk to never see its money again.
Top scammers: Dylan Hill, Michael O’Connor, Elena Katz and Mila Romanova or so they call themselves.
Trade The Bit is a 100% scam and virtual company
Trade The Bit is definitely a scam
Trade The Bit is definitely a scam, Beware of them and do not give them a dime because you’ll never see it again. They would approach you by phone and claim they are registered and that they’re allowed to operate in your area, they are very professional in offering great return, bonuses… but it is all fake. The minute you transfer the money from your shakepay (or similar) account to the wallet address they give you, your money gets transferred to other e-wallets and completely disappears. They would totally ignore and shut you down you when you want to withdraw money or close your account, I lost nearly 10K with them in just few months. Anyone dealing with them is at a very high risk to never see its money again.
Trade The Bit is a 100% scam and virtual company.
Top scammers: Dylan Hill, Michael O’Connor, Elena Katz, Mila Romanova
Their mothers & fathers must be so “proud of them…”
Con Artists… Thieves… Swindlers… Scammers… Unlimited deception and fraudulent fronts… There’s a special place in “Hell” for people like this, this in a nutshell sums up my experience since the middle of October20121. On August 25th 2021 I wrote a glowing review on “Trusted”, this has been my experience with TradeTheBit. I opened my account in July of 2021. Everything was proceeding as advertised, I was receiving daily phone calls, the trades were all profitable, I was both hopeful and excited as to how my account balance was growing. As I only had a basic account, I was introduced to the Silver account. The benefits of a smaller spread, a dedicated account manager and more flexibility was very appealing to me as I was interested in trading on my own. Everything was progressing as anticipated; my trades were generally successful and any trades that were made with my account manager were always profitable. As my trades were generally successful, I inquired about the benefits of the Gold account. Needless to say, my account manager was all too willing to share the benefits of leveling up. It was after I opened a Silver account for my wife and I leveled up to a Gold account. Within a month her account balance increased 100% and my account quickly ballooned to $62,000.00. Time to start drawing some funds from the account to start paying down some loans. Here’s where everything goes sideways and cracks started to appear. I made 5 attempts to make a withdrawal, my first withdrawal for $500.00 was successful (this was done before I toped up my account to $10,000.00). My second and fifth attempts were cancelled internally by Trade The Bit, my third attempt I was talked out of and my fourth attempt I was told to cancel and resubmit my fifth request withdrawal request through her. On her recommendation I did. That was my last contact with an advisor. From October 1st to current I traded a handful of times (about 12) with our last contact on Nov 9th 2021. Since then, I have sent several emails to my last known advisor and customer support. I’ve called customer support almost every 2 – 3 days. I’ve filed complaint after complaint through their “contact us” option to no avail. Customer support is a complete joke, contact us is a joke, the only thing that is on par is their skill at portraying a legitimate business. After 9 weeks of trying to reach and account manager and countless failed attempts with customer service, it finally happened, on January 18th 2022, they locked us out of our accounts. We still have plenty of cash in our accounts so don’t let them say that our account balances were zero.
Tried to log in Jan 17, 2022. They reportedly stated that they were sold and that an account manager would be in touch to liquidate the account; the site was locked down with no access to account.
A week later, I received an email from the support department that my account is now 85% exposed on margins and I should log in to do something. Considering no one can log in AND the site has now disappeared, the automation part appears to be still running even though they sure appear to have closed up shop. Bye-bye account and any funds you may have with them!
Tradethebit is now shut down and cannot be accessed. Like BC, I got a call from them saying they needed to transfer me the balance of my funds; however, the number they told me was certainly not my balance (actually, it was far more). I also reported this scam to Shakepay, but I doubt they can do anything about it. There is not much that can be done except for someone to initiate a classaction; but against whom??
If any of you are checking this to see any news. I’m going to start a Discord about TradeTheBit and some of the options I am going through to help reclaim what we have lost, this will also apply to CapitalMaximus as well. If enough of us get together with enough information and loss we can get the RCMP and INTERPOL to act for us in catching these Crooks. I’m also going through to find the list of events to help us retrieve the money from our banks. Message me directly at [email protected], Once you have sent me an email I can speak to you directly about what we have found out so far. TradeTheBit got me for over 80K, your not alone.
Remember, you didn’t ask to be a victim of Fraud, these guys are Professional Con-Artists. Together we can catch them!
Short update. I reached out to one of the best fraud investigative lawyers, http://www.martinkenney.com, to take myself out of the loop and make sure everything was legit (apparently not uncommon for a previous scam to close shop only to open another to “help recover lost funds” from the first one!). Their advice was that it is an extremely expensive (ie: more than $30k) process and really only viable if a group were formed that had considerable losses. They could then do something similar to a class action suit if enough people formed and agreed to share the cost and risk on a “success fee” basis. There would be payments required, so everyone would need to assess if what they get back would be worth the expense. I’ve had this before in a civil lawsuit where the cost of bringing justice exceeded the financial returns (you’d get satisfaction out of it and they’d be fined\jailed, but likely cost you $$ in the end).
Stay away from Trade the Bit. Total scammed by them. So called manager Adam Novak was my “trade advisor” . Now I can’t get my $15,000 Canadian back. Trade the bit almost destroyed my life. That money I sent was a part of my savings. Luckily they didn’t get all my money. I still can buy a house if I want. If I stayed with Wealth Simple, I would have been better off. Wealth simple is a legit company.
I have made withdrawals with no fees. I picked TradeTheBit to help maximize my returns. All they wanted to do was clean out my bank account. Shame on you TradeTheBit. Pieces of Shit.
I do have MyChargeBack.com working on my case. I doubt I will get my money back. BTW, TradeTheBit is located in St Vincent.
[email protected] BIG SCAMMER !!!!!!!!!!!!!!!!
He claims to be Adam Novik .. POS
this is the jerk that will not give back my money. These people need to be in prison. I lost 14 K because that jerk. Nobody seems to be able to help me. I did have Mychargeback.com work on my case. But they’re unsuccessful .. for the time being. I have contacted the RCMP. But they say it might be a total loss. I’m not happy about that. luckily they didn’t get all my money.
Correction. Sorry people. I lost 14 K , Not 15 K, I can’t edit my comments.
Cheers.
Tradethebit.com you’re crooks !!!!!!!!!!
I been reading to all the comments from people. I feel the pain for everyone.
Because, it’s all true. I have gone with them since July 2021
TRADETHEBIT is a BIG SCAM !!!!!
Michael O’Connor, Elena Katz, Mila Romanova and Adam Novik are all crooks !!!!
I have lost over $40,000 and I don’t know what to do. Can someone post something what’s the best thing to do about getting our money back
I got scammed by tradethebit now im getting calls from Blockchain that they have my money but i need to deposit money in atomic wallet to get the process going but i have to pay the capital gains up front ??? Has anyone had the same
Scam scam scam alert. These jerks stole $14,000 from me. They should be in prison. I will use every avenue, every effort, all the resources I can find to big them to justice.
Another update. I’ve been getting calls now from the “support” team at TradeTheBit. A pdf form that came through has a QR code for the investmentcenter.co.uk. That page doesn’t work and looking at other “investmentcenter” url’s, found ones that showed “temporarily down” to one that finally worked; http://www.investmentcenter.online. Lo-and-behold, it is EXACTLY the same as TradeTheBit!! Same platform, same learning material, same pricing structure, same offerings and also unregulated. Supposedly this platform has been around a long time – does anyone know about them? I am assuming they are one and the same and maybe they can be made answerable.
Have found another site that is a mirror image of TradeTheBit and InvestorCenter. It’s called Aussie Trust (https://www.aussietrust.com/). Whoever is running this scam has a lot invested in the trading platform and are replicating it internationally. They are obviously still active with many reviews stating loss of all funds; exactly the same for all of them.
And now getting similar calls as Ken Walker from “blockchainrecovery.finance”. I can hardly wait for how they want to help recover the funds, considering Blockchain.com does not have a recovery division….
Hi everyone
I have been reading all of comments. It’s very very sad and disgusting.
I have lost over $40,000.
Can someone post something about getting the money back
If anyone has received their money back please share with us on the steps of how to get our money back.