AquilaBit Review: aquilabit.com Beware of This Company

AquilaBit is a company that provides brokerage for various assets online. The company allows you to trade cryptocurrency, bonds, indices, metals, commodities, among other assets. They claim to provide the best trading platform in the market.

It is always great to have a plethora of assets under one roof. However, all that does not matter if a company is untrustworthy in its operations. AquilaBit is one of the shadiest companies in the market. It fails to meet all the requirements of legitimate companies. Stay away from this fraudulent company.

There are too many scam organizations in the trading sector. They see the opportunity to rip people off, and they take it. They have no morals and do not care about the lives they destroy. This is why you need to do enough research before you trade with any broker.

In our research, we found out that Aquilabit is not operating legally. Moreover, the founders are lying to people in order to drive business. Run while you still can. This company has nothing to offer you.

Fortunately, there are legitimate forex brokers with solid reputations. These companies have been in the market for a long time and fully transparent.

AquilaBit Review

AquilaBit operates its own proprietary trading platform. While this platform has a lot of features, it does not compare to some of the best trading tools in the market. The MT4 and MT5 platforms are some of the most popular platforms among seasoned traders. The AquilaBit platform does not compare to these platforms.

The company claims to have a solid reputation in the market. However, this company has only been in the market for less than a year. Surely, there are more reputable companies in the market. Moreover, aquila.com ranks very low in Alexa rankings. It ranks 5,519,665 in terms of traffic received. This is very low.

You should only invest in companies that have high popularity in the market. Only such companies can provide world-class services.

In terms of customer support, AquilaBit fails to provide any reliable channel. The only way to contact the company is to email them via support@aquilabit.com. Additionally, you can leave the company a message via the contact form on the contact us page. Further, you can leave a number so that they can call you back.

However, there is no guarantee of any of these methods working. The company does not give a timeline of responses.

Account Types

There are four main account types on the AquilaBit platform. These include the Micro Account, Bronze Account, Silver Account, and Gold Account.  All these account types differ depending on the amount of money you invest.

The Micro account has a range of up to 5 BTC. However, the company does not state whether this is the trading volume or the minimum deposit. This account gives you daily analysis, desktop and mobile traders, video tutorials, and 24-hour customer support.

The Bronze account has a range of between 6 BTC to 15 BTC. This account gives clients the same features as the Micro account. However, it also comes with access to webinars and seminars.

Next, we have the Silver account. It has a range of between 16 BTC to 25 BTC. This account gives clients everything in the Bronze account plus some perks. These perks include a dedicated account manager, premium daily analysis, and trading central.

The final account type is the Gold account. This account has a range of between 26 BTC to 40 BTC. This account gives clients all the features in the other accounts plus premium customer support.

However, we have already seen that this company’s customer support is not very reliable. Customer support is a basic service, and clients shouldn’t have to pay more to get their queries answered.

AquilaBit Deposit and Withdrawal

Interestingly, AquilaBit does not say the payment options that they support. Such information should be available to clients upfront. In their withdrawal policy, they mention the processing time for the bank or Credit Card company. This should mean that the company supports these payment options.

However, this is far from the truth. When you go to sign up, there are only two options. BTC and USDT transfers. These payment options are not the most ideal for clients. They enable a lot of scams to steal money from clients.

Cryptocurrency transfers are permanent. Therefore, it is impossible to make a chargeback. Additionally, cryptocurrency transfers are between virtual addresses. Consequently, it is impossible to trace your transaction.

You should never invest in a company that only supports cryptocurrency deposits. That is a risky move that may leave you with a lot of regrets.

Founders and Physical Location

It is very important to know the people behind a company. Their backgrounds may give you a foreshadowing of what will happen to the company. In general, you should never invest in companies managed by people with shady histories.

This company fails to introduce us to the founders. Therefore, the trust level is very low. These people are hiding their identities to avoid facing the law. You should not invest in people who operate from the shadows.

The only good thing is that the company provides the address of the base of their operations. AquilaBit gives its physical address as Hötorget building 12th floor, Sveavägen 9, 111 57 Stockholm, Sweden. However, you will see in the next session that this does not matter. The company is still one of the shadiest in the market.

AquilaBit Regulation and Fund Safety

Regulatory bodies keep companies in check. They ensure that companies are not running criminal operations. Understandingly so, you should only invest in companies that have regulations.

Unfortunately, this company does not have a license from a relevant regulatory body. They are operating illegally in most jurisdictions. In fact, the Swedish regulatory body, the FSA, issued a warning against this company. The FSA states that the company has no permission to offer any financial services in Sweden.

Such a company cannot assure you of your funds’ safety. This is because they do not meet regulatory requirements. Regulatory bodies ensure that companies only use tier-1 banks and have segregated accounts. Without regulation, a company can operate under its own conditions.

Further, there is no evidence of systems’ protection on aquilabit.com. Even the website does not have SSL certification. This means that hackers can easily break into the company’s systems. They can then take all your money and personally identifiable data. These are not safe conditions to trade under.

Final Verdict

AquilaBit is only in the market to steal people’s money. Otherwise, they would pass through the right channels to ensure they are a legitimate business. Contrary to that, they are operating without a regulatory license. With a warning from Sweden’s regulatory body, this company ranks high on the list of companies you should avoid at all costs.

They cannot assure you of your funds’ safety. Moreover, they do not provide evidence of systems’ protection. Under such conditions, it is impossible to make any returns.

Fortunately, there are many legitimate forex brokers in the market. They have been around for a long time and operate with full transparency. Only such companies can assure you of your funds’ safety.

 

Tags: AquilaBit Review, aquilabit.com Scam Review