BitPlus Capital calls itself the world’s leading blockchain trading system with an excellent combination of technology, industry expertise, and vision. This is a broker specializing in cryptocurrency, as well as smart contracts and ICOs. According to the official website, the company has offices in 10 countries, with the headquarters based in Gibraltar. However, it has only received one license from the FSA, which still needs to be verified, as well as the listed addresses. Reviews on the internet are mixed, both positive and negative. Therefore, the firm requires thorough verification for signs of a scam.
Table of Contents
Highlights
| 🏛️ Country | Gibraltar, United Kingdom, Switzerland, Australia, Ireland, UAE, Cyprus, Sweden, Netherlands, Finland |
| ⚠️ Regulation | – |
| 🖥️ Website | https://bitpluscapital.com/, https://bitpluscapital.co/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | £10,000 |
| ⚖️ Minimum and Maximum Leverage | 1:5 |
| ⚙️ Trading Platform | WebTrader |
| support@Bitpluscapital.co | |
| 📞 Phone | +44 2070977467 |
First Impression of Bitpluscapital.co
The official website is filled with mentions of cryptocurrency and blockchain. Almost in every sentence, the company talks about itself as a world leader in this industry, which seems very amusing, as it is far from the truth. The firm shares not only information about itself but also facts about Bitcoin, articles, client reviews (supposedly real), predictions about the future price of digital currency, advantages, and opportunities offered to users. There are also small guides, news, and legal data.
The visual design cannot be called aesthetic or beautiful. BitPlus Capital uses cliched pictures of quotes, Bitcoin, people in suits, and cartoon rockets. In short, nothing interesting or unique.
Partnership and Bonuses
Alas, BitPlus Capital does not offer an affiliate program. This is not very good news for users, as the affiliate program is an excellent tool for earning additional income, regardless of trading results.
Instead of bonuses, the firm offers a credit deposit as part of a promotions program. These funds can only be withdrawn after fulfilling certain conditions, which managers do not disclose.
Account Opening
A more detailed acquaintance with the company begins with the registration of a personal account. For this, it is necessary to specify a name, contacts, country, and date of birth. BitPlus Capital will also ask for an agreement with the terms. After successful data entry, the client portal opens immediately without the need to confirm email and phone.
The client portal is divided into three parts: trading area, account summary, and deposit. However, there is almost no graphical design. The founders decided not to bother with it and presented a primitive personal account, but it is understandable and easy to navigate.
The trading area is the entrance to the web platform. The account summary provides information about the current balance, total deposits/withdrawals, trading history, personal data, and password change. The deposit is for creating a new request to replenish the balance. However, we observe no more functionality in BitPlus Capital. For example, there is no window for identity verification and no demo account for training.
Verification
The KYC policy on the website is absent, which is the first minus. Furthermore, we did not see functionality for uploading documents in the personal account, but perhaps BitPlus Capital accepts documents by email. However, there is no precise information on whether the verification procedure is mandatory.
The user agreement provides some additional food for thought. There are four levels of verification:
- A withdrawal limit of $1,000 per month. Enough to provide identity confirmation.
- Up to $50,000/month. Confirmation of residential address.
- $250,000/month. The client must provide the source of funds.
- Up to 1 million dollars. Additional information is required, which should be clarified with managers.
If no documents are uploaded, then what is the withdrawal limit? And is it available to those who have not passed verification? Important questions that remain unanswered. At the same time, BitPlus Capital states that verification may take 14 working days, and raising the level 21 working days. Meanwhile, companies with multimillion audiences verify KYC within 1-2 working days and even faster. Why does it take so long here?
- None.
- It’s unclear how to upload documents for KYC.
- The company requires providing many documents.
- Long verification process.
Trading Software
First and foremost, it is worth noting the absence of a separate smartphone application. BitPlus Capital provides detailed instructions on how to use the terminal through a mobile browser and how to add it to the phone’s home screen. Is it really that an allegedly international company with offices in several countries can’t spend money on developers to create a quality mobile application for Android/iOS? What about their leadership in blockchain and cryptocurrencies?
Secondly, attention should be paid to the primitiveness of WebTrader. At the time of writing this review, it does not work, although this may be due to the absence of balance or weekends, but the crypto market is available 24/7. In any case, the scarcity of tools and features is striking. The platform does not support technical analysis, but it allows switching the view of charts from Japanese candles to zones or lines. Clients can also use both market and pending orders, including stop-losses and take-profits.
| Features | BitPlus Capital | Algexia | Vergomarkets |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ✔️ | ❌ | ❌ |
How Can I Trade With Them?
It seems that clients can only trade cryptocurrency, but it is not exactly known whether it is spot, futures, or possibly CFDs. However, the trading conditions depend directly on the activated account type, which we will discuss further.
All Info About Accounts
BitPlus Capital offers five diverse account types. The minimum deposit to activate the very first tariff is very large – £10,000. Not only does it require a substantial sum to start trading, but it also uses the approach of dividing tariff plans as “pay more if you want more services”. Notably, such actions are most often found in fraudulent companies. Popular and well-known brokers have long moved away from such requirements and conditions, and therefore allow trading even with $10.
The first tariff “Green” includes the following list of features: a fully managed account, secure wallet, personalized trading, full tools, signals, an average return of 0.45%, and a personal expert broker. The second account type “Silver” from £50,000 adds insurance, accountant, ICO, and staking. Are ICOs still relevant, or is this project stuck in 2018?
There is little point in considering other account types, as the requirements for the minimum balance are very high and inadequate. It is doubtful that BitPlus Capital can be called a super-well-known company for people to easily trust it with £100,000 or more.
More expensive tariffs offer personal financial advisor, arbitrage, pension plans, international events, BTC and ETH bundles, and other services. It is worth noting the column with the average return. What does this mean and in what time interval is such a return indicated? Here, BitPlus Capital has already begun to reek of a financial pyramid (Ponzi) scheme.
Traders can use leverage up to 1:5. At the same time, the size of commissions remains a mystery. The company hides the most important details regarding trading conditions.
- Not found.
- Excessively high minimum deposit.
- The firm is trying to extract more money from its clients.
- Commissions are unknown.
Market Analysis and Education
The broker shares additional widgets aimed at assisting users. These include a ticker with online quotes, a news feed with events from the world of cryptocurrencies and blockchain, useful articles, industry forecasts, an online calculator for cryptocurrencies and many fiat currencies. BitPlus Capital also shares quick links to a crypto market aggregator, ICO performance tracker, converter, crypto radar, and others.
Deposit, Withdrawal, and Fees
According to the personal account, traders can only top up their balance using credit/debit cards, in three currencies: EUR, USD, or GBP. There is no commission for depositing, but there is a withdrawal fee depending on the account type. Several types of commissions were listed: conversion up to 15%, processing up to 5%, and a brokerage fee of up to 20%. Honestly, these are some unreasonable commissions that kill the whole point of trading on this platform.
| Features | BitPlus Capital | WIN4TRADER | Orbonex |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ❌ | ✔️ |
| Crypto Transfers | ❌ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ❌ | ✔️ |
How Can I Contact It?
In the “contacts” section, you can see several offices in different countries, each branch having its own phone number. However, only one email for the entire company. Also, there is an online chat, or rather its icon, but it does not work, so it is impossible to write there.
- Each office has its own phone number.
- Only one email address.
- The online chat does not work.
Is It Dangerous?
Inadequate requirements for the minimum deposit, hidden conditions, and a primitive terminal do not match the broker’s statements regarding global activities and experience. BitPlus Capital requires verification of its legitimate status, offices, and duration of operation. And only after that can we say for sure whether it is a scam or not.
How Long Does The Broker Work?
BitPlus Capital does not say when it was founded, although one might think from the number of branches that it is an experienced company that has been operating for a long time. However, there are suspicions that the offices are fictitious, and the organization has existed for less than a year. For example, the domain of the official website was only registered in July 2023. The first reviews on the internet began to appear exactly in that period. Coincidence?
We don’t know what happened to them; most likely, the project site fell under the regulators’ ban. Anyway, on March 20, 2024 a new domain https://bitpluscapital.co/ was registered.
How Is BitPlus Capital Regulated?
First, we try to check the company in the Gibraltar registry. In this jurisdiction, the Gibraltar Financial Services Commission monitors brokerage activities. However, the search gave us nothing.
The user agreement mentions the jurisdiction of the United Kingdom. Quote: “this Agreement will be governed by the United Kingdom’s choice of law principles”. Okay, let’s check the FCA registry and also Companies House.
The FCA does not have such an organization. However, the legal registry Companies House, there is a BitPlus Capital, but it was founded in 2013 and liquidated in 2015.
No point in checking the registries of other jurisdictions. If the company indicates its headquarters in Gibraltar but does not have a license there, and also the United Kingdom but does not even have a legal entity there, it is not difficult to guess that the activity is illegal. And where the project is actually based is unknown.
| Features | BitPlus Capital | Anso FG | Nour Trade |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With BitPlus Capital?
Is BitPlus Capital Legit?
How Risky Is It?
Kevin Berry Scammers try to deceive people for money, creating the illusion of a large and serious brokerage organization, which supposedly is a leader in the field of cryptocurrencies and blockchain. However, this is not the case because BitPlus Capital is a leader among fraudulent brokers operating illegally. All offices are fake, as are the stated merits and advantages. In addition, from its very inception, fraudsters have been ordering fake positive reviews. You cannot trust what fake authors write in positive comments. And you should not trade here either.
BitPlus Capital rating
3 reviews about BitPlus Capital
I want to warn everyone about a scam. BitPlus Capital is conducting illegal activities, and everyone who has invested money here has lost it forever. The fraudsters order fake reviews about themselves to attract as many gullible traders as possible.
I know a person who gave £15,000. He can’t get it back because the swindlers refuse to make a withdrawal. These crooks don’t even respond to him. Such is the sad story.
I don’t see the company mentioning commissions for trading. At the same time, the leverage of x5 is very small. And where do they get their liquidity? Is this CFD, or are they connected via API to top crypto exchanges? In short, many questions, but no answers.
This is a typical fraud. Notice that there is not much information about the firm on the internet, and many positive reviews look fake. By all indications, Bitplus Capital is a scam company that will steal your money. So, I do not recommend opening a brokerage account here.