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Bittra

United States|1-2 years|
Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://bit-tra.com/

Website

Rating Index

Contact

https://bit-tra.com/
1099 18th Street, Denver, Colorado, United States

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Broker Information

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Company Name

Bittra

Company Abbreviation

Bittra

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-06-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0560186) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Bittra · WikiFX Survey

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Pyramid scheme complaint
Expose
Resolved

I fell victim to a scam while taking an investment course on LINE.

At around 10:30 in the morning on February 2nd, I was trying to increase my capital in FX (584,000 yen) and asked Mr. Kamijo, a BITTRA support person, to introduce me to an account, but I found out that the recipient of the transfer was a foreigner. I refused, but was informed that they could only introduce foreign accounts for amounts less than 1 million yen. I guess I had no choice but to transfer money to a foreign account, but I didn't receive any response regarding the transfer until around 11pm on February 2nd. It was a capital increase to trade at the big market price at 10:30pm on the night of February 2nd. 5-10 minutes after the big market transaction ended, Mr. Kamijo told me in the attached chat that the account I made the transfer into was frozen, and that I should immediately notify the bank to cancel the transfer, and that the FX trading account was suspected of being a money launderer. I was contacted to immediately transfer 600,000 yen as it would be frozen. It was a malicious tactic, such as going out of its way to contact me after a large market trade had been completed and I had made a large profit. After that, we communicated many times, but I heard a lot of strange Japanese, and I realized that the person was pretending to be Japanese. As a result of questioning, four people, including myself, were forced to leave the investment course the next morning. At the moment, Mr. Kamijo's chat is not marked as read despite my message. We have now realized that we were victims of fraud by an overseas fraud group.

bjworst
2024-03-15 10:20
Scam

When I was trying to increase

When I was trying to increase my capital in FX, a BITTRA/support representative introduced me to a transfer account, but the account was in a foreigner's name, so I refused the transfer. However, the BITTRA representative told me that they can only introduce foreign accounts for amounts less than 1 million yen, so I had no choice but to transfer money to that account, but no matter how many times I urged them, there was no response regarding confirmation of the deposit until around 11:00 pm on the same day. That evening, I finally got a chat with the person in charge and was told that the account I made the money into was frozen. However, not only that, my FX trading account was also frozen on suspicion of money laundering, and I was immediately instructed to ``transfer additional security deposit.'' This is a malicious tactic where they go out of their way to make large profits after completing large market trades and then freeze not only the transfer account but also the securities account. In addition, regarding the security deposit transfer for which there was an additional transfer instruction, the instructor of the LINE investment course (an ``impersonation'' of former Mizuho Bank employee ``Daisuke Karakama'') sent a photo of his driver's license as a guarantee for the deposit transfer. However, this is clearly a "fake driver's license" (confirmed at the police station). When I pointed out to BITTRA that it was a scam, I was forced to leave the FX investment study group the next morning. After that, after communicating with the BITTRA representative many times on LINE, I managed to get a promise to withdraw the funds from my account without any additional deposit, so I contacted them with my bank account information, but the BITTRA representative stopped contacting me immediately. Moreover, the LINE account of the person in charge of BITTRA was also deleted and it became impossible to contact them. After that, the trading software provided by BITTRA was also disconnected from the server, and the exchange appeared to be closed. Therefore, BITTRA ran away with my account funds. At the same time, the "Karakama Daisuke impersonator" has also become unreachable. Furthermore, when I checked with the police, it was discovered that all the bank accounts I used to make the transfer had been frozen by the fraud victim. Once again, I realized that I was a victim of fraud by a "malicious exchange." I later found out that BITTRA's support person had five LINE accounts and was using them for different purposes, so he seemed to be a repeat scammer. I had the opportunity to speak directly with them once, but the BITTRA representative's voice was male, not female. Even now, I use another LINE account to check my LINE posting history once every 10 days, but BITTRA still hasn't withdrawn the funds from my account. Based on the above, BITTRA can be said to be an organized criminal group.

bjworst
2024-05-25 12:11

Bittra · Company Summary

Bittra Basic Information
Company Name Bittra
Founded 2023
Headquarters United States
Regulations Not Regulated
Products and Services Trading Platform(Stocks, Bonds, Commodities, and Cryptocurrencies), Services (Creative Solutions, Financial Strategy, Marketing Strategy, Keyword Research, Web Development, Restructuring)
Trading Platforms User-friendly digital trading platform accessible on Apple Store and Android APP
Customer Support Email support at admin@bit-tra.com
Education Resources Blog covering various topics related to trading, platform features, and financial markets

Overview of Bittra

Bittra, founded in 2023 and headquartered in the United States, emerges as a digital trading platform designed to facilitate the buying and selling of a diverse range of financial assets. This includes stocks, bonds, commodities, and cryptocurrencies, catering to both individual and institutional users. Despite its recent entry into the market, Bittra positions itself as a platform providing real-time market data, essential trading tools, and a secure interface for executing transactions.

The platform distinguishes itself by offering a user-friendly digital trading experience accessible on both the Apple Store and Android APP. Bittra aims to empower users by providing a versatile platform that accommodates various financial instruments, emphasizing optimal trading conditions and competitive prices. However, it's important to note that Bittra operates without regulatory oversight, particularly in the United States, where its regulatory status is marked as Unauthorized by the National Futures Association (NFA). This absence of regulation raises considerations regarding the platform's adherence to industry standards and user protection, urging traders to approach Bittra with caution and awareness of potential risks associated with unregulated entities.

basic-info

Is Bittra Legit?

Bittra does not possess regulation from any official financial regulatory authority. Specifically, in the United States, it has an abnormal regulatory status, and the official regulatory status is Unauthorized according to the National Futures Association (NFA) with license number 0560186. This lack of regulatory oversight raises concerns about the platform's adherence to industry standards, customer protection, and transparency. Traders should approach Bittra with caution, considering the potential risks associated with engaging with an unregulated platform.

regulation

Pros and Cons

Bittra presents both advantages and drawbacks for users navigating the platform. On the positive side, Bittra offers a diverse range of tradable assets, including stocks, bonds, commodities, and cryptocurrencies, providing users with ample choices. The platform is designed to be user-friendly, accessible on both the Apple Store and Android APP, promoting convenience for traders. Additionally, Bittra provides educational resources through its blog, offering valuable insights into trading strategies and platform features.

However, it's essential for users to consider the potential downsides. Bittra lacks regulatory oversight, particularly in the United States, where it is marked as Unauthorized by the National Futures Association (NFA). This absence of regulation raises concerns about user protection and adherence to industry standards. Information about customer support is limited to an email address (admin@bit-tra.com), leaving users with uncertainties about the platform's responsiveness and support services. Traders should approach Bittra with caution, weighing the benefits against the potential risks associated with an unregulated platform.

Pros Cons
  • Diverse Range of Tradable Assets
  • Lack of Regulatory Oversight
  • User-Friendly Platform
  • Limited Information on Customer Support
  • Educational Resources through Blog
  • Potential Risks Associated with Unregulated Status

Products and Services

Bittra Trading Platform serves as a digital tool facilitating the buying and selling of various financial assets, encompassing stocks, bonds, commodities, and cryptocurrencies. This platform caters to both individual and institutional users, offering access to real-time market data, trading tools, and a secure interface for executing transactions. In essence, Bittra empowers users to actively participate in financial markets, make informed investment decisions, and efficiently manage their portfolios.

products-services

Bittra provides a range of services to enhance users' trading and investment experience. These services include creative solutions, financial strategy development, marketing strategy implementation, keyword research, web development, and restructuring. The platform aims to offer comprehensive solutions to meet the diverse needs of its users, from designing elegant WordPress Themes & Plugins to strategic planning in both financial and marketing domains. This multifaceted approach positions Bittra as more than just a trading platform, incorporating additional services to support users in their financial endeavors.

products-services

Here is a comparison table of products offered by different companies:

Product Bittra IG Group Just2Trade Forex.com
CFDs No No No Yes
Forex No Yes No Yes
Indices Yes Yes No Yes
Commodities Yes Yes No Yes
Futures No Yes Yes Yes
Cryptocurrencies Yes Yes No Yes
ETFs No Yes Yes No
Options No Yes Yes Yes
Spread Betting No Yes No No
Stocks Yes No Yes Yes
ADRs No No Yes No
Bonds Yes No Yes No

Trading Platforms

Bittra provides users with a top trading platform that serves as a digital tool for buying and selling various financial assets, including stocks, bonds, commodities, and cryptocurrencies. The platform is designed to offer a user-friendly experience, allowing both individuals and institutions to participate in financial markets efficiently. Bittra's trading platform provides users with real-time market data, essential trading tools, and a secure interface for executing transactions.

The platform emphasizes a good approach to financial trading, incorporating great ideas to enhance the overall user experience. It aims to empower users by providing creative solutions, including customizable features that cater to individual preferences. Bittra's trading platform is built with the goal of helping users save money through competitive prices and optimal trading conditions.

To ensure flexibility and accessibility, Bittra offers its trading platform for download on both the Apple Store and Android APP. This multi-platform support allows users to engage in trading activities seamlessly across different devices, providing convenience and adaptability to varying user preferences.

trading-platforms

Customer Support

Bittra offers customer support through its provided email address: admin@bit-tra.com. While the available information is limited, it suggests that users can reach out to the platform's administrative team for assistance, inquiries, or support-related matters. Email support allows users to communicate their concerns in writing, providing a documented record of interactions.

For a comprehensive understanding of Bittra's customer support, users may consider reaching out to the provided email address with specific questions or concerns. A responsive and helpful customer support team is crucial for users navigating the complexities of financial trading platforms, ensuring that they can seek assistance when needed.

customer-support

Educational Resources

Bittra provides educational resources through its blog, offering valuable insights and information to enhance users' understanding of financial markets and trading strategies. The blog covers a diverse range of topics, including features of the BITTRA Trading Software, the advantages of BITTRA Global Financial Exchange, flexible funds management breaking barriers to liquidity, and the ease of flexible order management for executing trading strategies. These informative posts aim to keep users informed about the platform's capabilities, features, and the broader landscape of financial trading.

The blog also delves into specific aspects such as competitive prices and optimal trading conditions provided by BITTRA, positioning it as a reliable partner for financial trading. It highlights key elements like encryption, financial security, flexible money management, high-speed trade execution, market news updates, and the support for automated trading with robots. Additionally, the blog touches upon essential features like multi-market trading, multiple deposit and withdrawal options, personal strategy development, privacy, real-time market news, spreads, stop-loss, and take-profit order tools, as well as user-friendly interfaces.

With a focus on user education, Bittra's blog serves as a valuable resource for traders, providing in-depth knowledge about the platform's functionalities and offering insights to help users navigate the complexities of financial markets effectively.

educational-resources

Conclusion

In conclusion, Bittra provides a user-friendly platform for trading various financial assets, and its additional services contribute to a multifaceted approach. However, the lack of regulatory oversight and limited information on customer support raise concerns about transparency and user protection. Traders should exercise caution when considering Bittra as their trading platform due to its recent establishment and regulatory status.

FAQs

Q: Is Bittra regulated?

A: No, Bittra lacks regulation from any official financial regulatory authority.

Q: What products and services does Bittra offer?

A: Bittra offers a digital trading platform for stocks, bonds, commodities, and cryptocurrencies, along with additional services such as creative solutions and financial strategy development.

Q: How can I contact Bittra's customer support?

A: Bittra provides customer support through email at admin@bit-tra.com.

Q: Can I access Bittra's trading platform on different devices?

A: Yes, Bittra offers a user-friendly digital trading platform accessible on the Apple Store and Android APP for multi-platform support.

Q: What educational resources does Bittra provide?

A: Bittra offers valuable insights through its blog, covering topics related to trading, platform features, and financial markets to enhance user understanding.

User Reviews

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FX1494189055
more than one year
Jumping into trades with Bittra was a unique experience. Their platform has a sleek, user-friendly design with a pretty versatile range of assets to trade, from stocks and bonds to commodities and cryptos. I appreciated the real-time market data and the handy trading tools. However, while the overall look and feel was professional, the text on the site felt pretty generic and not super specific to what Bittra specifically offers. Expect a better Bittra.
2024-05-15 14:00
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Guanbsj
more than one year
This broker rejected us (FXEA UK Limited) after we sent them our successful 99.9% backtests of our EAs. They told us that they do not want traders or affiliates which promote EAs.
2024-03-13 17:47
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Cornelia Van Drusen
more than one year
Bittra's got some cool features, but it's not all sunshine. Dig the variety of assets; suits my trading vibe. App's a breeze to navigate, perfect for sneaky trades during the day. The blog's a good read; got some nuggets of wisdom. But, and it's a big but, no regulators watching the scene, especially in the U.S.
2023-12-06 10:39
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0
0
kinkill
more than one year
Whether I'm into stocks, bonds, or cryptocurrencies, Bittra has it all. The user-friendly design is a big plus, and I can easily access it on my phone, making trades on the go. The educational blog has been helpful too; I've picked up some useful trading strategies. However, the lack of regulatory oversight, especially in the U.S., does make me a bit nervous. I wish there was more clarity on customer support; relying on just an email feels a bit uncertain.
2023-12-05 10:00
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