Digibits portrays itself as a trustworthy broker, enticing potential clients with promises of swift, effortless, and profitable online forex trading. Read this complete Digibits review to know why we add this broker in our scam brokers list. Moreover, they boast of being regulated, which would indeed be commendable if it were accurate. However, the reality reveals a different story. In truth, Digibits operates from an offshore location, lacks any legitimate forex license, and exhibits all the telltale signs of a potential scam.
For those still contemplating their offer, exercise extreme caution and reconsider your decision. Before proceeding any further, take a moment to examine the following lines closely. It is crucial to protect yourself from potential scams and prioritize the security of your investments.
Website – https://digibitsfx.com/
Website Availability – Yes
Address – St. Vincent and the Grenadines
Warning – Not recommended by the review website like Scam Bitcoin
Domain Age –
|Date Registered||December 07, 2021|
|Domain Age||1 year, 7 months, 28 days, 7 hours, 33 minutes, 9 seconds|
Digibits asserts that it is licensed and regulated by the Financial Services Authority (FSA) in St. Vincent and the Grenadines. However, the information provided about the company’s incorporation in St. Vincent and the Grenadines is quite vague, leaving much to be desired. Even if Digibits FX were to be genuinely incorporated in SVG, it is important to note that it would still operate as an unlicensed brokerage. The reason for this is that SVG’s primary financial regulator, FSA, no longer regulates online brokerages.
Digibits Review: Trading Platform
Upon visiting the Trading Platform overview page on Digibits FX, you will find that this broker claims to provide the renowned Metatrader5 platform. While it is true that a MetaTrader5 platform was available for download after registering a trading account with Digibits, it is essential to remain vigilant. Regardless of the platform they offer, the fact remains that we are dealing with unregulated scammers.
Digibits Review: Trading Assets
Digibits FX trading assets impressed us not only in terms of their number and availability but also due to the transparency of their selection process. With a simple click in the drop-down menu, users can access a comprehensive table containing all assets organized across different categories.
However, it is essential to exercise caution as the rest of the company appears to be somewhat shady. One concerning issue is the contradicting information surrounding Cryptocurrency Trading. While they claim to offer Crypto assets on one page, these assets are not covered in the table we previously mentioned. This inconsistency raises doubts about the reliability and credibility of Digibits FX as a trading platform. It is important to carefully evaluate all aspects of a brokerage before making any investment decisions.
Digibits Review: Trading Conditions
The spreads promoted on the Digibits platform are far from competitive. In most cases, starting at 1.8 pips as advertised on their website, they are 0.4 pips higher than what traders generally consider attractive for a standard account with no trading commission.
Furthermore, Digibits claims to offer a maximum leverage of 1:400. However, given the lack of trust in the platform due to its unregulated status and lack of credibility, we recommend considering alternative brokers from our list that offer leverage as high as 1:500 instead. It is crucial to prioritize safety and reliability when choosing a brokerage, ensuring a more secure trading experience.
Deposit and Withdrawal Methods
Digibits Network Limited presents a list of possible payment methods, including Neteller, Skrill, Web Money, VISA, and Mastercard. However, in reality, the only available payment methods on their platform are limited to cryptocurrencies – bitcoins, Ethereum, and USD Tether. This significant difference is noteworthy for a few reasons, especially since using crypto coins for payment renders the transaction completely irreversible.
This becomes a major concern if you later realize you have been scammed and attempt to recover your funds. The lack of traditional payment methods adds to the risks associated with engaging with Digibits Network Limited and underscores the importance of caution when dealing with such platforms.
Digibits Review: Conclusion
Beware of Digibits FX, an unlicensed Forex scam company. If you have fallen victim to this fraudulent broker and have deposited money with them, it is crucial to seek legal aid without any delay.
Should you find yourself victimized by the Capitalix scam or any other form of fraudulent activity, rest assured that help and resolution are within reach. Fill a complaint form on our website and you will get a free consultation with our team of experts, entirely dedicated to assisting you in resolving your situation.
More about Scams