BitForex Review: What Traders are Saying About Fund Scams and Withdrawal Issues

Earned profits on the BitForex platform, but could not withdraw because of tax payment and other liabilities? Does the forex broker even flag your account with fake money laundering charges? Do you consistently face login issues when using the BitForex trading platform? Is your deposited capital directed to the wrong address by the forex broker? All these have become very typical of the way the broker goes about the business. Many traders have opposed the broker on several review platforms online. Its time to check their comments in this BitForex review article.

Exploring the Top Complaints Against BitForex

Profitable Trades, But No Withdrawals - Revealing the Shocking Reason Behind it

BitForex reaches out to traders using several tools, including social media platforms. Traders make profits too. However, as they look to withdraw, the broker implies charges such as taxes and transfer fees. After paying these, the broker makes it further difficult for traders to withdraw by claiming the trading account to be money laundering. Here are multiple BitForex withdrawal complaints you must look at carefully.

A Withdrawal Issue Case Involving an Amount Exceeding $30000

The trader alleges that the BitForex trading platform is a scam that allows profits to appear on the account but blocks withdrawals by demanding upfront taxes and additional fees. After earning over $30,000, the user was asked to pay a tax and then an extra $6,000 “channel fee.” As the trader refused and requested to reinstate the funds, the account was locked with no support provided, and a deadline was imposed to withdraw or lose funds. The trader claims multiple traders have faced similar losses, including others reportedly scammed out of $12,000, and warns others to avoid the platform. Check out the complaint screenshot containing this negative BitForex review.

Illegitimate Fund Usage Allegation Against BitForex

A sensational trading complaint surfaced online where the trader pointed out his bankruptcy with three alleged fund withdrawal attempts worth $1,000 each from his account by the broker. As per the traders admission, the broker did not return anything. Infuriated by the alleged fund scam, the trader shared this BitForex review.

The Recurrent BitForex Login Failures

BitForex has also garnered negative reviews on the back of constant login failures that prevent traders from unleashing gains or curbing losses. For some, login failures persist for even a fortnight with no resolution in sight. As per a trader, he could not receive any code in his login attempt. What‘s worse, the broker did not respond to any of the trader’s email queries. Sharing a screenshot that supports this complaint.

No Asset Return, No Prior Intimation to Traders

What could further damage the broker‘s reputation is a complaint detailing how BitForex disappeared without returning the assets to the trader. With no prior intimation, as claimed by the trader, the situation became extremely critical for all of its clients. With this, a lot of investors’ funds have been siphoned by the US-based forex broker. Miffed by the brokers fraudulent approach, the trader shared a very bad BitForex review.

BitForex Review by WikiFX: Checking the Brokers Regulation Status & Score

The complaints against BitForex were serious and warranted a deep investigation into its regulatory status. Expectedly, the WikiFX team found that it was an unregulated entity despite its operational span of over five years. The team thus gave it a poor score of 1.54 out of 10.

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