Aquilabit review – 5 things you should know about

Aquilabit review – 5 things you should know about

Beware! Aquilabit is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Aquilabit has done a decent job on its website, as in it has very well arranged all the necessary features and sub pages, yet it does feel a bit shallow at times. Even if the website is good and easy to navigate through, we cannot avoid the fact that it is very narrow, and as a result, a lot of the crucial information that most brokers include has been left out here. And this has the potential to change opinions, as it happed to us. When we realized just how limited the website was, our initial impression shifted to a more negative one. The following review is what we found out about Aquilabit.

To open an account, users have to complete a form that quickly reminded us of many previous registration pages. The issue was that these memories had to do with unregulated brokers. Once registered, a trading software appeared before us, acting as the main page for the user area. In fact, the entire client portal was based around this trading software.

On the web-based terminal, we found out that the EUR/USD spread was non-existent. There were no forex currency pairs present as trading assets. The ones that were there were commodities, Crypto vs USDT, Crypto vs Crypto, Indices, Commodities, Stocks vs BTC, and Stocks vs USDT. It seems that Aquilabit has focused on a more cryptocurrency-based trading experience. The leverage was capped at 1:5.

The website seems to be available only in English.


It came as a big surprise to us when the contact address of the broker turned out to be based in Sweden. The body in charge of overseeing the FX markets is the Swedish Financial Supervisory Authority. Like most watchdogs, it has its own registry of licensed entities, a database that had no result for Aquilabit.

However, the Terms and Conditions are governed by the Marshall Islands, a small island nation in the Caribbean pool. This country is the ideal place for unregulated brokerage due to the fact that there is no established FX regulator. The country is overflowing with scammer brokers.

Neither of these addresses has a license for Aquilabit. It is important to mention that nowhere on the website does it clearly say that Aquilabit holds any sort of license that would allow it to offer trading services within the frameworks of the law.

Therefore, Aquilabit is UNLICENSED, and a clear risk to all invested capital!

Unregulated brokers should never be invested in. Not only are you losing your money, but you are funding a scam that will continue victimizing traders. Please, always check for a license, preferably from the FCA and/or CySEC. These two authorities are the best of the best when it comes down to enforcing rules and regulating the FX market. There is a reason why most brokers strive for regulation from either one of these. Not only are there very strict rules to be followed, but either of these licenses will bring on more users, because of the safe space the broker will be provided under the oversight of the FCA and CySEC. Furthermore, all the brokers under the FCA and CySEC are a part of compensation schemes, which covers all their users, financially, in case the broker becomes insolvent or cannot pay back its clients. CySEC provides up to €20 000 per person, while the FCA guarantees up to £85 000.


The platform used here is very familiar to us, as it has been used numerous times by unregulated broers. It seems like routine by now.

It may look professional and may possess a look that rivals that of more legit terminals but rest assured that with all it looks, it cannot come close to some of the major platforms of the industry. If it were put on its own, yes, this software has the potential, because it is by far the most feature-heavy of all the scammer broker trading platforms. Here we have a live news fee, live TV, pending orders, time frames, chart customization options, technical indicators, stop loss/ take profit, and more. However, seeing that the broker using it is illegal, we cannot recommend it to our readers.


The client area discloses two payment methods: a Bitcoin wallet, and Bitthebank. The latter of which turned out to be a bitcoin buying website. So users can only deposit through bitcoin, the riskiest of all payment methods! And there is no guarantee that once a deposit through BTC is made it will be available in the user’s account. This is a scammer broker after all! There is no real minimum deposit, for that matter; users can buy as much BTC as they want.

The withdrawal area discloses that the payment methods for withdrawal are bank transfer, credit card, and a BTC wallet. The usual withdrawal processing time is up to 5 days. Moreover, withdrawals have attached fees to them, but we did not find more specified details on these commissions.

Aquilabit is a very typical scammer broker. It checks all of the boxes. Please do not deposit in it for your money will be lost!

How does the scam work?

Scams are crafted in such ways that when you start feeling suspicious, then it is too late. The fraudsters anticipate this and adapt to this in smart ways.

The most popular scam is also the simplest but most effective because it is very casual. Illicit brokers from all around utilize it, with some putting in their own small twists to it, so as to seem more efficient and unique.

Usually, the scam goes like this: the user is attracted by an ad that promises a rich and stress-free lifestyle, usually accommodated by a picture of a happy man and woman in a picturesque setting. If the user clicks on it, she will be redirected to a website where the user will be required to input her contact details, like email and phone number. By giving these away the fraudster are given the perfect means of solicitation. She will start receiving calls or emails that will attempt to convince her to deposit. She will be redirected to the website of the broker and will see all the “amazing” opportunities. The client will either give in or become increasingly suspicious and leave.

If the user deposits, then she has fallen victim to the scam. After the initial deposit, she will start receiving calls from the so-called account manager, a pro scammer that will charm his way to more deposits, as many as possible until the user starts seeing the bigger picture. These shady individuals are very manipulative and many of them are sweet talkers, capable of convincing you of anything.

The scam continues for as long as the client allows it. Suspicion will overcome the user at some point, and once she starts looking for her money, the fraudsters will be long gone. Her account will be deleted, the withdrawal request will be forever stalled, or the website of the “broker” will be unavailable.

What to do if scammed?

The first step that you should take is filing for a chargeback. The good news is that MasterCard and VISA have a 540 day chargeback period.

If the deposit was made by means of a bank, then the user is encouraged to change all of her bank detail ASAP! We are referring to the user name and password. An alternative to this is to contact the bank and see how they can help from thereon.

A crucial piece of advice is to never deposit in an unregulated broker through bitcoin or any other form of cryptocurrency. The crypto situation is still to be stabilized, and many BTC options, for example, are still untraceable. Once a payment goes through, the money is sure to be lost forever.

Moreover, stay away from recovery agents. During the period of looking for a way to get your money back, the user may have the opportunity to contact a recovery agent (or called otherwise). These will offer the client a return of all deposits in exchange for a hefty fee. Once the user agrees to pay the commission, these will disappear leaving you at a bigger loss!

Rich Snippet Data
Review Date
Reviewed Broker
Broker Rating

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US5/5$50 Click for a special offerWebsite
USA5/5$250 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia4.93/5$100 Click for a special offerWebsite
UK, Australia4.85/5$50 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *