BitAurox is presented as a leading broker with a wide range of available assets and platforms. The company is registered in London, although this statement is not confirmed by anything. The site does not have the necessary documents, which indicates an unreliable place to store funds. We will conduct our review based on the platform and independent sources to find out if there are any scammers here.
- BitAurox General Information
- Registration and Client Portal Review
- BitAurox Trading Conditions
- Account Types Review
- Trading Platform
- BitAurox — Deposit and Withdrawal of Funds
- Is BitAurox a Scam?
- Legal Information and License
- Bitaurox.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
BitAurox General Information
|Address||10 Paternoster Square London EC4M 7LS|
|Leverage||From 1:100 to 1:1000|
|Trading Platform||MetaTrader 4, MetaTrader 5, WebTrader|
Registration and Client Portal Review
The BitAurox website is primarily available in German. However, it can be translated into other languages using the built-in Google Translate plugin.
The company says the Foreign Exchange market is the world’s largest currency exchange platform. Its main advantage is high liquidity because people have always sold some currencies and bought others.
That’s great, but it’s not very clear what BitAurox has to do with this. Meanwhile, the founders provided insufficient information about the company. There is vague talk about goals and mission, but the clients need to be aware of their guarantees. Let’s register on the website to check the quality of service.
You need to provide personal and contact information, create a password, and agree to the terms of service. However, there is no link to the regulations.
In the client portal, the user can change personal data, open a trading account, and make a deposit. However, the interface is so primitive that it raises huge doubts about the service’s reliability.
So, we did not find the promised WebTrader there, as well as MT terminals. To outline the problems, we will discuss this in more detail later.
BitAurox Trading Conditions
According to the broker, it allows you to make deals on the Forex market, trade CFDs on stocks, indices, futures, and other underlying assets.
Account Types Review
The set of services is determined by the selected tariff, which the client should decide on before trading.
|Name||Minimum Deposit, USD||Leverage||Spreads|
As we can see, BitAurox requires a significant investment to get started. At the same time, there is a note that on all accounts the minimum deposit is possible from $100.
In general, the line of differentiated accounts turns out to be fiction. The size of spreads, lots, the number of open positions, and the size of the margin call are the same on all accounts. However, if you are looking for something special, a Black account with premium conditions may suit you:
- Personal manager
- Wide range of assets
- Trading signals
- Analytical articles
- No commissions.
How much these privileges cost, and how to enable them at all, remains a mystery. There is nothing like this in the client portal.
BitAurox offers to operate on one of the following platforms:
- MetaTrader 4
- MetaTrader 5
Let us dwell on the latter, because the other two are already known to experienced traders. The software is easy to use and powerful at the same time. The client has access to the history of trading operations, a list of available assets and other functions. The strong point of the platform is the ease of placing any position.
All this is wonderful, but you won’t even find a hint of a web terminal. It’s not on the website or in the client portal. Therefore, we are unable to show you the platform or explore the possibilities of a demo account.
The situation with MTs is no better. BitAurox does not provide links to them, does not offer to download the program on a PC or phone, and does not display a web version. To be honest, it is completely unclear where the client will trade after making the deposit. (And whether it will be at all).
BitAurox — Deposit and Withdrawal of Funds
You can deposit money into your account using a debit/credit card and bank transfer. The company charges a 20% commission. Besides, there are the following withdrawal fees:
- $50 for bank transfers
- $35 for cards.
Don’t forget to pay 10% of each withdrawal amount. Finally, BitAurox mockingly informs that the size of commissions can change. It seems that you can go broke here, even if the broker will not stand in the way when trading!
- Identity card
- Utility bill (or other means of address verification)
- Photo of a credit card (details can be partially covered).
You may also be required to declare a deposit and other documents that you can upload in your profile.
A few short articles about trading, forex, and cryptocurrencies can hardly be called training materials. They will only be useful to absolute noobs. Plugins with the main quotes and economic news are imported from TradingViews.
The company also offers up to 8% cashback on a BitAurox Visa card. In addition, you can receive up to 14% on a portfolio of cryptocurrencies.
Unfortunately, these strange banking and investment services remain just lines on the main page of the site. The broker does not have such functionality, let alone the right to provide them.
Is BitAurox a Scam?
We will publish a list of the most obvious flaws that we identified during the review. They prove once again that you should not deal with BitAurox.
Legal Information and License
An unpleasant fact, however, in the reviews they often write about the illegality of BitAurox. The company has a German website, which means it must be included in the German register of legal entities. Also, recall that the broker specified a British phone number. St. Vincent and the Grenadines flash in the user agreement.
Of course, we did not find any organizations with a name like Bitaurox at https://www.unternehmensregister.de/. The same result was obtained after checking the registries of Great Britain and the Grenadines.
Bitaurox.com Domain Info
The leading trading broker prefers to remain secretly silent about the term of work. Its regulations are most likely made up of parts of documents belonging to other companies. In any case, they mention conditions and years that contradict each other. From 2016 to 2022.
As it turns out, the Bitaurox website was created in August 2022. Who would have thought!
To contact the BitAurox manager there is only a phone number and a working e-mail. There is no online chat or feedback form.
Meanwhile, the London Stock Exchange is located at the specified office address. Well, you can really trade there!
Pros and Cons
- Instant registration.
- Confusing trading conditions.
- Useless personal account.
- No trading terminals.
- No license and legal registration.
- Working time about 2 months.
- Lack of contacts.
Frequently Asked Questions (FAQ)
It offers trading in all kinds of assets, but this fact has not been confirmed by anything.
The first account starts with $10,000, but for some reason, you can also start trading with $100.
Definitely not. This is yet another scam that does not even have a legal registration.