Bitaroma Website: bitaroma.net
Address: Saint Vincent and the Grenadines
Warned By: Commissione Nazionale per le Società e la Borsa (Italy)
Introduction to Bitaroma Review:
The trade industry is a thriving market. To be able to survive in the market and keep your name in one of the bests is no easy task. This is the reason why brokerage firms engage in such a competition to be the number one. However, amidst the regulated brokerage firms, many unregulated scam brokers also enter the market to trap the potential traders in their brutal scams. These are the brokers you should avoid. Such scammers enter the market secretively and lure innocent traders to waste all their money by investing with them. Bitaroma is one such broker that we received a lot of complaints about. In this Bitaroma review, we will be presenting all the red flags that we found during our investigation of Bitaroma. Read the full Bitaroma Review to know more.
Is Bitaroma a regulated brokerage firm?
Although Bitaroma claims to be a regulated brokerage firm on their website, a little investigation into the legitimacy of this firm cleared all our doubts. Bitaroma is UNREGULATED and is clearly lying to mislead the public and potential customers. This is a major red flag against the Bitaroma scam in this Bitaroma review.
Is Bitaroma blacklisted by any regulation?
The Italian Regulation, CONSOB has issued a warning against Bitaroma stating it to be a potential scam and an unauthorized firm. The regulation warns its citizens to avoid trading or investing money with Bitaroma as it is not safe. Being blacklisted by regulation is another major red flag against the Bitaroma scam in this Bitaroma review.
What is the leverage provided by Bitaroma?
Regulated brokerage firms always provide small leverage as high leverage may induce unnecessary risk on the customers. In many countries, the limit set on the leverage that can be provided is sealed at 1:30 and 1:50. Scam brokers often provide very high leverages to lure in customers. In Bitaroma’s case, upon searching on their website, we found that Bitaroma does not reveal vital information such as leverage, spreads, etc. to their customers. In order to check these, we need to register ourselves with their firm.
Conclusion: Is Bitaroma a scam broker or a legitimate one?
After all the red flags are given above, we leave it upon you to decide whether Bitaroma is a scam broker or a legitimate broker. However, we must warn you to stay away from this potential scam broker.
How to Protect yourself from such scams?
Even though the trade market is an excellent opportunity to earn more, the scammers in the market make it difficult for the traders to invest and earn profits. One way to avoid scammers is to read our scam broker reviews daily. If you have been scammed by Bitaroma or any other scam broker, file a complaint with us and we will help you recover your funds ASAP. For more such interesting scam broker reviews, visit our website. Read our latest review on Etoro SB Limited scam, to know the variety of red flags they pose.