BrokersView
Search
Download
English
Sign In

Bitpaypro

Save

Operating status: SCAM

Website: https://bitpaypro.net/app/

Broker violations and abnormal records
  • 2023-08-07 BrokersView has reviewed that Bitpaypro is an unregulated broker

    Bitpaypro's claim that it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA) is false, as our search for this company in the registers of both regulators didn't yield any matching result. 

    Furthermore, Bitpaypro claims to have an ID 0350721 issued by the U.S. National Futures Association (NFA). However, data from the NFA suggest that it is not an NFA member and thus not subject to their oversight.

    What's more, it is critical to be aware that this swindler used to solicit investors via domain coin-crypto.net, under the trade name Coin Crypto Wallet. Please steer clear of this scam.

    In essence, Bitpaypro is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Bitpaypro's claim that it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA) is false, as our search for this company in the registers of both regulators didn't yield any matching result. Furthermore, Bitpaypro claims to have an ID 0350721 issued by the U.S. National Futures Association (NFA). However, data from the NFA suggest that it is not an NFA member and thus not subject to their oversight.What's more, it is critical to be aware that this swindler used to solicit investors via domain coin-crypto.net, under the trade name Coin Crypto Wallet. Please steer clear of this scam.In essence, Bitpaypro is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
  • 2023-08-17 The UK FCA issues a warning against Bitpaypro

    On August 18, 2023, the Financial Conduct Authority (FCA) issued a warning against Bitpaypro, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/bitpaypronet

    On August 18, 2023, the Financial Conduct Authority (FCA) issued a warning against Bitpaypro, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/bitpaypronet

Related Complaints

Q&A

I want to know what licenses does Bitpaypro has plz.

Angus Sproule
Switzerland
2023-09-05
ANSWER Bitpaypro doesn't have any license to legally serve as a platform for trading forex and derivatives.Bitpaypro's claim that it is a regulated broker is false. While it purports to be regulated by the Cyprus Securities and Exchange Commission (CySEC), there are no records in the CySEC database matching it. And its assertion about the regulation by UK Financial Conduct Authority (FCA) is also fake, as the FCA has issued a warning against Bitpaypro, identifying it as an unauthorized firm.In an attempt to appear legitimate, Bitpaypro even fabricates an ID number 0350721, allegedly issued by the National Futures Association (NFA). But the truth is there isn't a such number in the NFA BASIC.Additionally, BrokersView wants to remind investors that Bitpaypro used to solicit investors via domain coin-crypto.net, under the trade name Coin Crypto Wallet. Please beware of and steer clear of this scam.Due to its fraudulent activities, we strongly suggest investors stay away from Bitpaypro. Entrusting this broker with your funds and personal information is highly risky, as there are no rules in place to prevent fraud and theft. To safeguard investors' interests, we recommend choosing a fully regulated broker.
See more

comments

Be the first to review.
Rate and Review

Your review

App Store

Google Play

Company Shop Application About Us Our Methodology Privacy Policy Contact Us

Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.