BitAurox review – 5 things you should know about bitaurox.com

BitAurox review – 5 things you should know about bitaurox.com

Rating: 1

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

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BitAurox is a very broken broker that we don’t know how it is still functioning. It’s a mess and a scam! We don’t think that even the most novice of users will be fooled by it. But still, it’s helpful to know what makes this broker bad, not just its site. So read on.

There was no way to open an account. Apparently the broker knows us from somewhere, as it told us that all our credentials were already taken which to us makes no sense, and is actually a way for the broker to keep us out from finding its secrets in the user area. It’s an old and proven tactic. So, we must remain on the website, a source of information that we do not trust, and neither should you. The broker will try to sell you anything for the first deposit!

And so, according to the website, the leverage goes all the way up to 1:1000 for highest account type, and just 1:100 for the standard one. The available assets are forex currency pairs, cryptocurrencies, and unrevealed CFDs. The spreads are said to start from 1 pips and are floating, meaning unpredictable.

We also have to mention that the site uses google translate, and not very well. It’s a sign of laziness when such a huge part of a site is left to a third party widget.

BITAUROX REGULATION AND SAFETY OF FUNDS

Here we have another broker that states that it is registered in the UK and expects all the privileges that such a happenstance usually brings. But the problem here is that only those proven to be legit receive the benefits while the likes of BitAurox can only sit and drool from distance. Of course, BitAurox does not behave like this but we know for a fact that all broker wannabees strive for a UK license for it is one of the most prestigious. And then there is BitAurox and other entities similar to it that have and continue to flood the FX market. These never aspire to get licensed or approved in any way. All they care for is fast and unconditional profit. In other words, the broker is not licensed in the UK nor anywhere else. All invetments made here will be lost, while any personal details that may have slipped along the way will most likely be used in some way to further BitAurox’s profit from you! So do not invest here!

If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the EuropeanUKUS, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!

BITAUROX TRADING SOFTWARE

Ultimately we failed to access any sort of web trader or desktop software. The first barrier to this was our inability to open an account, which pushed us to the site for this information.

But aside from a couple of suggestions, there was no real access to the alleged web trader that has been promoted.

And what’s more, BitAurox never struck us as a company that has bothered to include a software. The ultimate goal her is to scam users, not provide them with legit FX trading services.

BITAUROX DEPOSIT/WITHDRAW METHODS AND FEES

BitAurox is one of those brokers that gives itself permission to offer a $10 000 minimum deposit requirement and get away with it completely. This is an insult to users and to the industry as a whole. Such a high requirement is unrealistic at best and utterly unacceptable at worse!

The advertised payment methods are credit and debit cards. But the essence we get from this information is that it is untrustworthy because it is take directly from a very unreliable source: the website of BitAurox. Moreover, there is absolutely no no withdrawal information anywhere and this makes the whole withdrawal process a mystery since it may or may not be available. Judging by the scammer nature of the broker we think its safe to say that withdrawals wont be possible.

HOW DOES THE SCAM WORK

Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.

The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.

Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.

The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.

Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.

WHAT TO DO IF SCAMMED

The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.

An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!

We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.

Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!

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