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China|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|


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Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Pyramid scheme complaint

Using sympathy to defraud investors

A Mr. Li delivered messages to me on ig, chatted and said that he didn’t use it often and asked me to add him on Line. He chatted with me every day, mostly voice messages or phone calls. He talked about his past experiences and relationships to get my trust. Later, he said that his job was anti-intrusion and he could see the data and make money. He said that he wanted to help improve my life and live a better life. He said we could live better, and taught me how to make money. In fact, I was very disgusted and thought it was a scam, but he was so serious and kept explaining that he wanted me to try it with a small amount to know whether it was true or not. He also wanted me to download Binance, VPN, and Max to bind contract transfers. He informed me that he had something, and I tried it with NT$5,000 first. He sent a link to log in from Google, and then the transaction was very fast, and it became more than 8,000 and then transferred back to the account of 6,400, which made me believe it was true. Then he asked me to invest more to make more money. The second time I invested NT$20,000, and later got back NT$26,000. He said that opportunities don’t come every day and asked me to seize the last chance. He said that there might be stricter precautions against intrusions over there, it may be the last chance. He said that he and his friends were planning to loan 20 million to invest in. The company had confidentiality regulations. He took me privately because he wanted me not to disclose it to others. He also said that he would help me invest in this privately. He told me to find a way to invest more funds, and ask friends and relatives I know to borrow money or loans. When the time comes, I will make a profit and repay others for giving me more money. During this period, I was really trying to think of a way, and he kept urging me. Later, after adding the original 26,000 yuan and borrowing 90,000 yuan to invest, he also transferred 1 million to me and said that he would eat instant noodles and sell the car for me. But he had late-night snacks with friends after work... He said it was not enough and asked me to think of another way. I was really upset every day and kept calling to borrow money. I had work to do and encountered many situations at home... Later, he called me and told me that he would take me to invest. Finally, We made a total profit of about 2 million more. But when I wanted to withdraw, it was refused. When we asked the customer service, they said that because the profit was too much, I had to pay 20% tax, which could not be deducted from the profit and had to be paid separately...I asked him if he know this would happen? He said it was all handled by the finance department, so he asked me to find a solution together. I was really dumbfounded and would be driven crazy trying to find a way to loan... It was during the Chinese New Year, so the deadline was after that. He said that he will try his best to collect money, because he has invested a lot of money in the company, so he can only get back the money slowly one by one, and the Chinese New Year is approaching and the company has to pay employees. In fact, I have always had doubts after seeing exposures, and I thought some of them looked similar... I also sent screenshots to him, and he said it was all slander. What they did for anti-intrusion was just the company operating and looking at the data, no one was scamming. I still asked him to be honest and swear to me, then I believed him. The deadline is up after the year, and I only have 40,000, which I finally found in a financial loan. He said he borrowed tens of thousands from a friend before the year, and then took me to transfer it to the customer service first. I asked him, don't you need to transfer it? He told me that he lost all his money playing cards during the New Year... Damn it! I was really shocked...I was very angry and sad and kept telling him what I felt. He said that he would pay 20% and leave 40% to me...A company boss would actually let me, a single mother who has a difficult life, pay ore taxes than him? ! So I decided to expose it, and I just hope that I can get back my principal. Please help me! 😭😭😭

2024-02-18 00:19

Bitorex · Company Summary

General Information

Bitorex is a Marshall Islands regulated broker that engages in providing clients with a variety of financial products and services.

Market Instruments

Bitorex offers investors a range of financial instruments including forex currency pairs, cryptocurrencies, indices, commodities.


The maximum leverage is up to 1:500.

Trading Platform Available

Bitorex provides clients with access to the worlds financial markets through a basic web-based trading platform, whose features are similar to those of MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Deposit & Withdrawal

The funding methods available are Bitcoin, Credit/Debit cards and Flutterware,. Wire transfers are not available.

Customer Support

If clients have any questions or concerns, please email at for consultation.

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more than one year
In the process of canceling my practice accounts, I encountered some confusion and challenges. Inside of 5 minutes, I had assistance from their customer support, and the issue was quickly fixed. Thanks to the chat agent's prompt responses, I feel confident moving forward with opening a live account with this broker.
2023-03-17 18:37
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