Bits4Hold Review and Website Analysis

The Bits4Hold review is here to help traders avoid becoming victims of yet another scam broker. The company makes grand promises of comfortable trading, attractive conditions, and complete security of funds and payments. However, we advise against trusting these claims. Why? We will explain in detail below.

Brief Overview

• 🖥Official Website: https://www.bits4hold.com/
• ✈️Contact Address: Hackney Road 514, London E2 7AU, UK
• 📞Customer Support: [email protected], [email protected], [email protected]; +44 203 838 1228
• 🔐Licensing and Accreditation: no
• ⏳Track Record: since 2024
• 🧰Specialization: Forex & CFD broker
• 🤝Terms of Cooperation: min deposit €10,000; leverage from 1:1 up to 1:100; commissions from 15% to 4.5%
• 💰Additional Services: islamic accounts

Bits4hold.com Examination

It is clear that the creators of the Bits4Hold official website put all their efforts and resources into the design of the Home page. The result is somewhat appealing, if you overlook the main banner that occupies almost a third of the entire space and barely fits on one screen even with a high resolution. There was no effort left to create even satisfactory content.

This is evident from:

• Social media links that redirect to the same bits4hold.com page where they are placed.
• Only two blog posts published on April 17, 2024, as if nothing has happened in the markets since.
• Dull descriptions of the trading process on the Products pages, instead of important contract specifications that traders need (images seem to be missing from these pages as well).
• The Trading Conditions page, which is copied from another site, with data that does not match the parameters in the account types table.

Impressed? So are we. It seems the website was designed carelessly, intended only as a container for registration and login buttons. The creators didn’t care about the rest of the content. A legitimate, regulated broker would never allow such negligence. However, Bits4Hold is not a legitimate broker.

Company Contacts

On the Contact Us page, Bits4Hold promises to respond to inquiries “as soon as possible.” However, its ability to do so is quite limited. The company has only provided:

• A feedback form.
• Email addresses.
• A postal address in London.
• A British phone number.

For quick communication, only the phone number is viable, but it does not respond for unknown reasons. Other options, such as Live Chat, are not offered by the broker.

The company also failed to provide working links to social media. While they included icons, the links redirect to the same pages where they are located. This is because Bits4Hold has not created any social media groups or channels. It seems these are unnecessary for the company, as most scammers do not need them either. If they did, they would have fixed this issue over time.

Key Conditions

Bits4Hold describes its trading conditions on two different pages: Trading Conditions and Account Types. However, it might have been better if they followed other scammers and did not show them at all. The information on these pages is extremely contradictory and can confuse traders.

Here are a few examples:

How should one determine which data to trust? We believe the information on the account types page is accurate because these options are included in the registration list. Why, then, are the details on the Trading Conditions page provided if they are incorrect? To appear as a reputable, licensed company?

According to the account types table, the broker offers five tariff plans. Although not all essential characteristics of the trades and instruments are disclosed, some important information is available.

The table also provides other useful data, such as bonus amounts for each account type, ranging from €5,000 for Silver to €1,000,000 for VIP. It is unclear why the broker ignored regulatory bans on attracting clients with bonus funds, suggesting Bits4Hold operates outside any regulatory authority.

The company’s commission rates are notable. For example, a Silver account holder pays 5% for account maintenance and 10% for order execution. On a VIP account, trader costs are significantly lower, at 1.5% and 3%, respectively.

Overall, the account analysis shows that Bits4Hold uses a common scam tactic: improving service conditions as the minimum deposit increases. This reduces commissions, increases bonuses, and provides more analyst sessions. Leverage also rises. However, this is not entirely positive, as both profitability and risk levels increase to nearly unacceptable levels.

Such details and the false information on the broker’s official pages are of little concern to Bits4Hold. Instead, the broker may welcome increased trader losses, as they become its direct profit.

Exposing Bits4Hold

We believe that there are hardly any doubts left about the fraudulent nature of this broker. For those still uncertain, the results of checking the platform’s official data provide convincing arguments.

Like most scammers, Bits4Hold prefers to remain silent about the company’s registration details and licensing. The only available information about the company’s location is its postal address in the UK, published on the Contact Us page. A check revealed that there is no company by this name (in any spelling variations) listed in the Companies House database.

This is expected since even in documents regulating client interactions, neither the company’s name nor its address is mentioned, only the broker’s name. In some documents, such as the Accessibility Statement, certain fields are not filled out and look like this: “Please contact [Accessibility Lead Name] at [Phone Number] or via email at [email protected].”

The conclusion is straightforward: the broker operates without official registration and provides online services exclusively. As an unregistered company, Bits4Hold cannot obtain a brokerage license, enter into agreements with liquidity providers, or open corporate bank accounts. Therefore, it serves clients illegally, and all claims about liquidity access and segregated accounts are just fantasies of the creators.

This pseudo-company has existed for a short time. The whois service shows that the bits4hold.com domain was registered only on April 3, 2024.

Most of the document drafts are also dated April 2024. This means that this fake broker has been operating in the market for just 4 months. Naturally, all claims about the company’s extensive experience are entirely fictional.

What Reviews Do Users Leave?

Reviews and publications about Bits4Hold on the internet are unusually unanimous. Authors of posts and articles on thematic sites almost unanimously call the broker a scam and a fraud. This is not surprising: the lack of registration and licenses, contradictory descriptions of trading conditions, and hidden payment details provide plenty of reasons for such opinions. Additionally, among those who have expressed such unfavorable views, there are several current clients who have already lost their deposits.

We found no reason to distrust Bits4Hold reviews. It is more difficult to explain how so much negative feedback has been accumulated in just 4 months. However, the project’s owners and employees seem to have worked hard at it. For such a blatant scam, it wasn’t difficult.

Conclusions

In this Bits4Hold review, we aimed to show that the broker is a scam and that sending money to its accounts is very risky. This is confirmed by the lack of registration and licenses, numerous issues with the official site’s content, and the abundance of false information published on its pages. The company provides brokerage services illegally and employs fraudulent schemes. This is also corroborated by numerous online publications warning everyone against trading on this platform.

Pros/Cons

FAQ