This honest Bitogrand review exposes a scam project known as “Bitogrand.”
Bitogrand is a fraudulent platform pretending to be an authentic brokerage service for cryptocurrency pairs, indices, indices, metals, energies, futures, shares, and swaps trading. The creators of it seem to have incentivized some unscrupulous bloggers to publish misleading information about bitogrand.com. For example, Cyprus Mail falsely talks about Bitogrand benefits even though this broker is a widely known scammer who adds no value to investors.
Here’s a company summary table according to bitogrand.com:
| Company | Bitogrand |
| Website | bitogrand.com |
| Physical Address | Skeppsgatan 19,211 11 Malmö, Sweden. |
| Support Email | support@bito-grand.com. |
| Telephone Numbers | +48780906188, +48780906277, or +48732121070. |
| Trading Instruments | Cryptocurrencies, shares, indices, futures, currency pairs, swaps, metals, and energies. |
| Trading Platforms | Mobile trading platform, desktop trading platform, and Webtrader. |
| Account Types | Real Accounts. |
| Real Account Options | Silver, Gold, and Platinum. |
| Minimum Deposit | Undisclosed |
| Leverage | Depends on the account type: Silver: 1:200.Gold:1:300.Platinum:1:400. |
| Swap | Depends on the account type: Silver: N/A.Gold: 25%Platinum:50%. |
| Deposit Options | Bank wire transfers as well as major debit/credit cards. |
| Demo Trading Accounts | N/A |
Bitogrand company summary according to bitogrand.com.
Below are some convincing indications that bitogrand.com operates as a fraudulent platform:
A screenshot image shows the bitogrand.com scam trading platform.
1. Platform Is Unlicensed and Unregulated
The first red flag is that this company operates without a license or regulatory oversight. This is the very same strategy that all scam brokers, including Finanzwelt and Essex Group Incorporated, employ. After all, it allows them to take part in fraudulent activities unrestricted.
2. Bitogrand.com Has Access To Clients’ Funds
The Broker News YouTube channel reports that this company keeps clients’ funds in its account instead of segregated accounts. According to the law, brokers should separate investors’ funds from the company’s funds and not have access to the former. This separation is crucial for transparency, investor protection, embezzlement avoidance, and ethical responsibility. Any broker who doesn’t adhere to this requirement is most likely a scam.
3. Platform Lacks Transparency
When it comes to legitimate brokers, transparency is key. Such brokers will reveal all the crucial information and details that are necessary to the customer. This information and details include the minimum deposit required for each account type and the company’s terms of service, contact details, and physical address details.
While bitogrand.com displays the company’s telephone number, support email address and physical address, it intentionally doesn’t show potential investors information regarding the expected minimum deposit per account. This is very similar to what we witnessed with Essex Group Incorporated, another scam platform that is currently swindling unsuspecting investors.
4. Company Website Shows A Misleading Launch Year
Like Billnergroup and SadeXG, which are all scam trading platforms, the Bitogrand.com website shows a false launch year. While the site falsely displays 2019 as the company’s launch year
Scamadviser and several domain age checker websites out there show that this domain is only about 5 months old.
This is not surprising because new scam websites tend to misleadingly show an earlier launch year than their actual launch year. They normally do this to appear established and manipulate perceived expertise and history in their area of focus, to build trust and avoid suspicion.
5. Low Bitogrand Trust Score On Scamadviser
Notably, Scamadviser rates this website extremely low(1/100), warning visitors to be extra cautious with it. These low ratings may be due to negative bitogrand.com user reviews, a high risk of a scam, or the use of malware or suspicious software on the platform. All these are typical characteristics of scam brokers.
Scamadviser even warns under “Negative Highlights” that it discovered mainly negative reviews for this site, suggesting that many customers were not satisfied with the broker’s services. It further points out that iQ Abuse Scan has given this broker a phishing alert. It means that not only does this company swindle users but it also engages in fraudulent phishing activities.
6. 100% Negative Bitogrand Reviews On YouTube
Two channels have done a review of bitogrand.com on YouTube, reporting that it’s a scam. Broker News, reveals that this broker is a scam that targets beginners who are not consistently profitable traders. Similarly, Brokers FX Review(another YouTube channel), warns that the person(s) behind the purported trading platform could abscond with your money without any repercussions.
7. Many Negative Bitogrand.com Reviews On Trustpilot
Another indication that bitogrand.com is a fake trading platform can be found on Trustpilot. When you type a relevant search phrase like, “Bitogrand com Review Trustpilot,” your search engine will quickly take you to several Bitogrand reviews on the business review platform.
Notably, Bitogrand Trustpilot reviews are mostly negative. The nature of these reviews further suggests that customers are generally dissatisfied with the services that this purported broker offers. In my experience, most customers are normally disgruntled with services especially when dealing with scam brokers.
8. Many Negative Bitogrand Reviews On Google
A lot of credible review blogs have nothing positive to say about Bitogrand, further indicating that this broker is unreliable and many experts aren’t satisfied with their services. For example, Personal Reviews(a review blog) points out that Bitogrand doesn’t fall under any regulating agency, citing that as a red flag and urging potential investors to not invest with them. Similarly, Invest Future(another broker review blog) states that it cannot mention anything positive about Bitogrand, calling the site useless with zero practical value. Likewise, TopedgeFX(another broker review blog) cautions you to be careful with Bitogrand, urging you not to sign up and warning you that this broker is unreliable and will mislead you to lose your deposits.
My Final Verdict On Bitogrand.com
In summary, Bitogrand is a scam broker who has nothing to offer to investors. Don’t be deceived by the purported offers that this individual(s) supposedly offers e.g. attractive swap discounts of up to 50%. Those are false offers meant to entice unsuspecting investors who are flattered by the idea of enhancing profit potential, reducing trading costs, and attracting interest on long positions. Once you deposit your money to trade, this scammer will eventually abscond with it without fearing any repercussions since they are unlicensed and unregulated.
I hope this unbiased Bitogrand review potentially helped someone out there avoid this scammer.
Report A Scammer!!!
Have you been scammed by Bitogrand.com or any other similar broker? If so, go to this page to report the scammer and seek help. You may also email scamread@scamreader.info.
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