BitPrimeOption is a forex broker that claims to have been officially registered and established on March 6, 2021. It primarily provides financial trading services, including forex, metals, indices, futures, contracts for difference (CFDs), energy, stocks, bonds, cryptocurrencies, and commodities to investors globally.
Corporate registration information and regulatory status:
According to the broker's official license and regulatory page, BitPrimeOption is registered as BitPrimeOption Limited with the Cyprus Securities and Exchange Commission, having the license number 124/10. Additionally, BitPrimeOption Limited holds an IFSC license with the number IFSC/60/354/TS/18. The broker's registration entity in the UK is BitPrimeOptiontUK Ltd, regulated by the Financial Conduct Authority (FCA) with license number 705428. In Australia, BitPrimeOptiontt Pty Ltd is the registered entity, holding a financial services license issued by ASIC with the number 443670.
On the "Contact Us" page, the broker claims its parent company is Exinity Limited, located in Mauritius. However, on the "Terms and Conditions" page, the broker states that its website is operated by Safe Side Trading LTD, registered in Saint Vincent and the Grenadines, and is the owner of the BitPrimeOption trading platform.
Upon verification, it has been found that the content on the BitPrimeOption official website appears to be involved in plagiarism and tampering. The information provided above corresponds to the registration and regulatory details of various different brokers, and no regulatory platform mentioned by the broker has records of a broker named "BitPrimeOption." Additionally, the content and information on the BitPrimeOption website closely resemble those of other brokers such as cryptorangefxt, Cryptoresol, CrispFinances, xtbctrading, Elitesurefinace, Trust Icome, mexcinvestment, CRYPTO BINARY TRADE, IBES TRADING FX, PRIMAL-FX TRADING, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, and more.
Account Opening:
To open an account with BitPrimeOption, you can visit the broker's official website, click on "Create Account" in the top left corner of the webpage, enter the account registration page, fill out the application form, and submit it. Once the application is submitted, the account will be successfully registered. After logging in, complete identity verification to deposit funds and start trading.
Account Types:
BitPrimeOption offers users six different types of real trading accounts: BASIC ACCOUNT, CLASSIC ACCOUNT, GOLD ACCOUNT, DELUXE ACCOUNT, EXECUTIVE ACCOUNT, and MASTER ACCOUNT.
- BASIC ACCOUNT: This account requires a minimum deposit of $500 and provides services such as Expert Advisors (EA), daily market reviews, risk control, and one application strategy. It allows hedging but does not offer scalping, financial planning, personal account manager, etc. The signal accuracy is 71.4%, with a minimum trading volume of 25/hour.
- CLASSIC ACCOUNT: With a minimum deposit of $2000, this account provides EA, daily market reviews, risk control, and two application strategies. It allows hedging and offers a maximum bonus of $500. Services like scalping, financial planning, personal account manager, etc., are not provided. The signal accuracy is 76.4%, with a minimum trading volume of 40/hour.
- GOLD ACCOUNT: Requiring a minimum deposit of $5000, this account offers EA, daily market reviews, risk control, and two application strategies. It allows hedging and provides a maximum bonus of $3000. Services like scalping, financial planning, personal account manager, etc., are not included. The signal accuracy is 80.7%, with a minimum trading volume of 46/hour.
- DELUXE ACCOUNT: With a minimum deposit of $10,000, this account provides EA, daily market reviews, risk control, three application strategies, scalping, financial planning, personal account manager, and negative balance protection. It allows hedging and offers a maximum bonus of $7000. The signal accuracy is 88%, with a minimum trading volume of 53/hour
- EXECUTIVE ACCOUNT: Requiring a minimum deposit of $20,000, this account offers EA, daily market reviews, risk control, four application strategies, scalping, financial planning, personal account manager, and negative balance protection. It allows hedging and provides a maximum bonus of $15,000. The signal accuracy is 92%, with a minimum trading volume of 56/hour.
- MASTER ACCOUNT: With a minimum deposit of $40,000, this account provides EA, daily market reviews, risk control, five application strategies, scalping, financial planning, personal account manager, and negative balance protection. It allows hedging and offers a maximum bonus of $24,000. The signal accuracy is 97.3%, with a minimum trading volume of 61/hour.
Trading Platform:
BitPrimeOption provides users with its proprietary trading platform, BitPrimeOption Web Trader.
Deposit and Withdrawal:
BitPrimeOption supports users in depositing and withdrawing funds through methods such as bank transfers, debit and credit cards, online cards, and e-wallets.
Summary:
Traderknows warns investors that BitPrimeOption, along with brokers such as cryptorangefxt, Cryptoresol, CrispFinances, xtbctrading, Elitesurefinace, Trust Icome, mexcinvestment, CRYPTO BINARY TRADE, IBES TRADING FX, PRIMAL-FX TRADING, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, IBES TRADING FX, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, are all suspected fraudulent platforms that have plagiarized registration and regulatory information from various different brokerage brands. It is advisable to choose transparent and reputable trading platforms, despite their strength and good reputation, to avoid unnecessary financial losses.
Currently, this broker has been marked as "suspected fraud" on Traderknows.
