Bitfinanzen Rewiev 2023: Discover Everything About The Service

If you’re considering a secure investment option, BitFinanzen is an example of what to avoid. Firstly, the company is not transparent about its ownership or operational location. It’s even worse than the ABCC service we already reviewed. Despite this lack of information, they expect customers to entrust their funds with them, which is certainly peculiar. Fortunately, there are many indicators suggesting that trusting them might not be wise. This comprehensive review of BitFinanzen aims to uncover these reasons.

Is BitFinanzen A Scam?

The first aspect to investigate regarding BitFinanzen is its regulatory compliance. The company appears to primarily target German customers, which would typically require regulation by BaFin. However, a search in the BaFin database yields no results for this firm. Furthermore, no other major Tier 1 regulatory bodies have issued a license to BitFinanzen. This raises significant concerns about the legitimacy of their operations and suggests that any potentially fraudulent activities by BitFinanzen may soon become evident.

Real Trading Experience With BitFinanzen

Despite having a 4.1 average rating on Trustpilot from 35 reviews, a closer look reveals that less than 40% of these are 5-star ratings, casting doubt on the company’s reliability. Similarly, comments on Sitejabber also reflect concerns. The lack of licensing means that traders are without protection, emphasizing the need for caution before investing to avoid potential losses. If you’ve previously encountered unregulated firms or have been a victim of a scam, seeking advice for a chargeback is a recommended step.

Revealing BitFinanzen’s Operational Practices 

BitFinanzen’s operation, marred by a lack of regulation, raises concerns about potential manipulative tactics. The company is also secretive about its features, allowing them to make attractive promises that may not hold up, especially when it comes to withdrawing funds. An alarming aspect is their disclosed bonus policy, which further indicates a high risk of fraudulent practices. If you have any experiences with BitFinanzen, please share them in the comments. For those dissatisfied with the service, our experts are available to assist in developing a strategy to recover your funds.

Identifying BitFinanzen’s Operational Clientele

Our research indicates that the majority of BitFinanzen’s traders are from Germany and Spain. Fortunately, both these countries are known for their stringent regulatory authorities, which is a positive aspect. This means if there are any deceptive practices by the company, they are likely to be detected swiftly.

If you possess any evidence of BitFinanzen’s fraudulent activities towards traders, we encourage you to share it with us. This information could be crucial in helping other traders steer clear of potential risks. Additionally, you’re welcome to reach out to us directly for a complimentary initial consultation.

BitFinanzen’s Mobile Trading App 

A significant drawback of BitFinanzen is the absence of mobile applications for both iOS and Android platforms. This lack likely leads to a challenging and potentially bug-ridden experience for users trading via a web browser.

Range of Trading Options on BitFinanzen

BitFinanzen provides a variety of trading instruments, although they lack transparency in detailing these options. They only broadly categorize their offerings without specifying the individual instruments available in each category. Additionally, the platform does not offer a demo account for testing purposes. The categories they do mention include Forex, Commodities, Shares, Indices, and Cryptocurrencies.

Variety of Account Options at BitFinanzen 

Typically, brokerages encourage larger deposits by offering various account types with perks like improved trading conditions, educational resources, and live trading sessions. However, BitFinanzen deviates from this norm. They provide no information about their account offerings, including the absence of details about the minimum deposit requirements.

The Truth About BitFinanzen’s Trading Terms and Costs 

BitFinanzen remains opaque regarding its trading conditions, such as fees, spreads, leverage, and commission. This lack of transparency becomes evident when comparing BitFinanzen with Tier 1 licensed firms. A critical aspect to watch for is the leverage offered; if it exceeds 1:30 for retail customers, it’s a potential red flag indicating the firm’s questionable legitimacy. It’s important to remember that under ESMA rules, trusted regulators typically permit a maximum leverage of 1:50 for companies.

Assessing Withdrawal Processes at BitFinanzen 

Withdrawals at BitFinanzen are clouded by their unclear bonus policy and lack of information on funding methods. Although they claim credit card withdrawals are fee-free, accounts with less than 25 trades in a 30-day period face a 150 EUR service fee for liquidation. The processing time for withdrawals is up to 10 business days, with an additional three business days for the funds to arrive. However, be cautious of unexpected verification issues, hidden fees, and taxes that the broker might impose. It’s crucial to be vigilant to avoid potential losses.

What to do in Case of Issues with BitFinanzen

If you encounter problems with BitFinanzen, remember that your country’s financial regulations can be a valuable resource. Reporting your experience to these authorities can alert and protect other traders. While many traders primarily focus on recovering their funds, which is often possible, understanding the specific steps for a refund is crucial. For detailed guidance on refund procedures and filing claims, consider consulting with our experts. We offer a free, non-obligatory initial consultation. Don’t hesitate to reach out for assistance.