Bit Index AI Review – How We Uncovered This Scam App

Bit Index AI. Is This Trading App Really Safe or Scam?

Bit Index AI is a cryptocurrency trading robot that’s highly versatile and accurate. The app scans financial markets to find profitable opportunities and makes money. According to Bit Index AI’s sales page, this trading platform makes profits for its members on autopilot. It is important to note that trading success does not depend on low capital requirements. This type of deceptive selling tactic is actually the foundation of fake review websites.

Bit index AI Broker Check

We conducted deposit testing and found that the broker we were assigned was CoinX Central. The registered business address of this broker is in Belize. Belize is a suspicious legal jurisdiction that offshore companies use to launder money. Many times, the money comes from investment schemes very similar to Bit Index AI scam.

Who Are the Masterminds Behind the Bit Index AI Scam?

Affiliate networks and media agencies are responsible for this fraud. They do it to collect referral commissions from unlicensed CFD brokers offshore like CoinX Central. They collect money from you every time you invest according to previous agreements. This kind of deal is common in the Forex and gambling niches.

Bit Index AI is touted as a versatile and accurate trading robot. The app is said to use an advanced set algorithm that allows it to adapt to volatile market movements. According to Bit Index AI, this signal platform scans cryptocurrency markets and “exploits” money-making opportunities.

Bit Index AI Review, Powerful Trading Tool Or Defective App?

The initial screening process for new members who want to join Bit Index AI scam is stressful. The brokers will quickly conduct this screening process to determine if you have enough funds and are willing to invest further. Those who refuse to take on future risks after signing up will likely be given the cold shoulder.

The Deposit Test: Impressions and Experience

First, we were not allowed to access any trading platform after making a deposit. We were also not permitted to fund our account with a credit card. Our researchers were directed to a third-party crypto-wallet. To get a minimum balance, we needed to scan a QR code. We were not allowed to use our credit card in any way. This was done to make the transaction anonymous and non-refundable.

After some time, a new account manager was presented to us. He was Dennis Taam and was supposed to assist us. Taam only wanted to sell us a strategy that would allow us to re-invest. We realized that this was not the endgame and asked for another manager. The already stressful situation was only made more difficult by this request.

We were called by the next person, who was rude and impatient. We were told that no assistance would be provided if we did not invest another PS7,000. The scammers were using aggressive sales techniques that are well-known for being highly effective and passive-aggressive to turn up the heat.

After a few days, we began to receive incessant calls from unknown numbers. Our information was apparently passed to others who tried to sell other types of signal apps or bots. It’s enough to say that our initial investment was lost and that we have lost all our money. After a while, no one responded to our emails. The scammers decided they couldn’t get any more money from us.

No Backtesting Or Strategies

Most systems have strategies built in when you are trying out new features. You only need to log in and activate them. You can also access a number of indicators, such as Parabolic SAR or MACD. None of these indicators were found. We also did not find any information regarding back-testing, comparative results, or basic risk management features.

Bit Index AI: Different Design, Same Scheme

We came across six different sites and all of them are equally disgusting. These websites, despite the Norton Secured and McAfee logos you might see, are not safe. We ran a virus scan and found that one site had potentially unwanted programs (PUPs). It is not enough to have a padlock and an AES256-bit encryption key on your website. Scammers take advantage of the fact that these sites appear secure to deceive victims even more.

We also checked the firewall settings of this fake app and discovered that there was a breach. These crooks actually replied to our messages and said that they were currently debugging a code error. Enisa, the European Agency for Cybersecurity is required to approve any software. This also includes issues such as PCI compliance and the storage of personal financial information on encrypted servers.

Bit Index AI Leverage

Any new depositor member is eligible for a leverage ratio of 6,000 to 1. This is a huge amount and you won’t be able to accept it if you don’t know much about leverage. Because leverage can be thought of as a loan. No matter how much you have, you must pay it back. This means that if you take advantage of leverage and lose it, you could end up owing more money than you can afford. Leverage has led to people going bankrupt and losing their entire life savings.

Is This App Compatible With Any of the Exchanges?

This software does not work with the major coin exchanges like Binance, Coinbase or FTX. We contacted the support team at the exchanges, and were told it was a scam.

Bit Index AI Deposits and Withdrawals

Depositing is very easy, just like other scams that we have exposed. Wait and see what happens when cashing out occurs. It is almost impossible to do this. We tried to withdraw but were blocked and bounced around so many more times that we gave up.

Legal or Regulatory Issues

Bit Index AI is a illegal trading program. We await the warning from the regulators. Many victims could lose their money and, in some cases, more than they can afford if this is not done. We were also unable to locate any patents or certifications by regulatory agencies such as CySec and BaFin.

Confidentiality of Personal Data

These criminals won’t care much about protecting your personal information. We can assure you that your phone number and email address will be sold to any third party.

Rewies on TrustPilot, Reddit, Social Media and Other Forums

There have been a few fake profiles posted on social media like Facebook. TrustPilot is the worst. A London-based scammer is creating fake profiles on TrustPilot. This was discovered on a website called OCCRP.

Bit Index AI: Video

Below you will find a short video about Bit Index AI. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Bit Index AI!