Read our Bit Trust review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a bittrust.net 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 Bit Trust 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 Bit Trust 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.
Bit Trust Review Conclusions
Making the Bit Trust 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 Bit Trust 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.
Stay away and or try to have your hard earned money taken out again asap. this is a BIG scam. I put in a small amount first ,, and then withdraw a small piece of the VERY good profit on the webpage account. Then got talked into making a bigger investment, and secondly a third one. which my banks security dep stopped and flagged scam warning. and suddenly taking out ANY money was impossible.!!!! and no service at all. Bandits and scam bigtime.!!!!!!!!!!!
Don’t do it!! Bittrust.net is a SCAM and you won’t see your money again! Their website looks real but it is all FAKE!! They have been reported to authorities and the Police. Please report them too if you are a victim! Try to warn everyone not to get sucked in by these scammers!
Scam scam watch Jim browning on you tube spying on spammers that what happened to me. Absolutely devastated to trust for a month put more more convinced it was real I will not get recourse as they or Luno etc are not regulated and will get no compensation in uk police fraud department on to it but waste of time
Wanted me to pay 3500 upfront fee to realise funds don’t do it think scam
Is bittrusted traders and bittrusted.net the same?
I was stupidly trading with Tron. I put all my savings in and got to £10,000. But when I said I wanted to withdraw they disappeared. Then they started ringing me every day wanting money to withdraw my £10,000. In the end I told them to stop ringing. That when they disappeared. I told them I’d contacted the authorities. So the stopped ringing.
This morning I’ve had a call from a “Steven” from Bittrust, saying they have taken over from Tron and they want £1,224.18 to get my money out. I don’t think for one minute that I would get any money.
When I went to my bank, they wouldn’t give me any money back that I’d used to invest. They said they don’t recognise anything to do with these sorts of investments. I’m in the Uk. A 69 yr old lady with serious health problems and it has devastated me.
So so bad to be scammed it hurts so much makes me so unwell. To put your trust into Philip Sheffield etc convincing me all was ok. Ruined my life I have little money a small pension and now so much lost and in debt. These scammers get away with all our money and no thought but for themselves. I saw the idea on this morning TV it was legit but then the scammers copied the idea and we all lost out why oh why can’t we get our money back a huge scam should be in the media etc and they be caught if they can do space travel why can’t they be found and dealt with. NAME AND SHAME PLEASE
I can relate to Julie 100%. I too saw the idea on This Morning TV and was hooked. Made an initial deposit of £50 and within 1hr it had more than doubled. I was then talked into depositing another £500 and later on another £500. By this time I was asked to deposit £1000 through Luno at this point my bank stepped in and stopped the money and said it was more than likely a SCAM. Even at this point the man was still encouraging me to find another way of putting money in the account. So in June this year I told him i wanted my money back, never came and I didnt hear anything till last week. I have been threatened with court by them so I thought I had to pay the £3300 so with no one to ask I did.
I was assured by John that once I had paid £1100 to then that I would have got half the money back and then I could have paid the other £2200 out of the funds received.
Then Michael phoned to say that was not possible and that I had to pay the £2207 extra to release the money. So I paid that. He said this morning that the funds would be released today.
Then Damien phone to say Now I have to pay £18600 to receive the money. I am sorry if you think I am being scepatable but yes I am and I really can’t go ahead with this. So this is where i stand £3300 out of pocket plus the initial £500. PLEASE STAY AWAY FROM BITTRUST IT IS A TOTAL SCAM that pick on vuneralble people. The names of the people I have dealt with are JOHN WILLIAMS, MICHAEL ……. And DAMIEN GORDON.
Maureen so so sorry it is abominable that with so much technology one can’t get hold of the scammers who are now rich off with our money people who trusted believed etc why oh why can’t they be hounded traced imprisoned we the innocent suffer PLEASE ANNOUNCE IN PAPERS MEDIA