Iron-Bits is a platform that promises its client fast trade execution, flexible leverage, and technical analysis. Additionally, the company brags of having won multiple awards, but it is a lie. The company has characteristics of a shady platform, and it operates illegally and anonymously. Invest in the best crypto trading companies with a good reputation.
Iron-bits is a trading platform with over 200 tradable assets. The platform allows users to trade stocks, commodities, indices, currencies, and a plethora of cryptocurrencies. The developers claim that the platform is reliable, convenient, and very powerful. They claim to offer the best services, nothing more and nothing less.
However, there are several reasons why the people behind this platform are not trustworthy. There are a lot of red flags that every trader should be aware of. This review will provide you with details on why you should not use this broker.
You need to perform a lot of research before choosing a trading broker. This is because many brokers are only in it for the money. They are only looking to scam unsuspecting individuals.
Iron-bits is one of those companies that you cannot trust. A quick look at them, and you may not suspect anything. However, you will realize that this platform does not measure what the developers advertise when you dig deeper.
Many better platforms exist out there. They offer better services and are transparent in all their operations. Moreover, they have a long and impressive track record. Only use the best cryptocurrency trading brokers in the market.
The developers of Iron-Bits claim that it is an award-winning trading platform. They want traders to believe that it is reliable and convenient. Additionally, they state that the platform is compelling and robust. It allows traders to manage their portfolios at any time and from anywhere.
Further, they offer fast executions and competitive spreads. They believe that they provide the most competitive trading conditions in the markets. They offer flexible leverages and technical indicators. This helps traders to make the best trades at the best time.
The platform supports the trading of many currency pairs. Additionally, users can take full advantage of the stock market. Further, users can trade commodities and indices on Iron-Bits. Even better, users can trade cryptocurrencies against several fiat currencies.
However, the founders of this platform are unknown. It is impossible to tell what kind of people they are. It is always a bad idea to invest with companies operated by mysterious individuals. They can quickly disappear with your money.
Moreover, this company also offers educational services. Only professional traders should provide educational services. In this case, it is impossible to tell what trading experience these individuals have.
There are four main account types on the Iron-Bits platform. These include Silver, Gold, Platinum, and VIP. The account types vary depending on the amount of money in a trader’s account.
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The Silver account requires a user to have a minimum of €250 in their account. This package provides users with up to 100 significant leverages.
The Gold package requires users to have a minimum of €10,000 in their accounts. It provides users with up to 200 significant leverages. Additionally, it offers traders Gold spreads to increase their profitability.
On the other hand, the Platinum package requires a minimum balance of €50,000. This provides users with up to 300 significant leverages. Additionally, it offers users Platinum spreads. This helps them increase their profitability.
The last account type is the VIP package. This package offers traders up to 400 significant leverages. Additionally, it provides users with VIP spreads. This package is invitation only. It is only for individuals looking to make large investments.
There are extra perks for users of the Gold, Platinum, and VIP packages. Traders using these account types get a dedicated senior account manager. Additionally, they receive fund bonuses. Further, they are perks to access to educational materials. They also enjoy prioritized withdrawal services.
Iron-Bits Education Center
Other than trading services, Iron-Bits offers educational services to clients. The education material help users get oriented to the trading process. They have eBooks to introduce users to the terms used in the trading sector. Additionally, they have eBooks introducing users to different markets. Also, they have several webinars for account holders.
However, it is impossible to tell the actual value of this material. We cannot verify that professional traders provide this training. Therefore, users may not get their money’s worth.
Physical Location and Customer Support
Iron-Bits does not reveal the location of their headquarters. There is no telling where these people are from. This is a sign of people who do not want the law to track them down. Only people running illegal operations hide where they are from.
The least such a company can do is operate in full transparency. Customers should be able to track them down in case of any problem. Moreover, this would greatly help in gaining the trust of customers.
In terms of customer support, this company is not very reliable. There are two main ways you can contact the team. First, you can fill out a contact form by clicking on the contact us link. Second, you can email them at [email protected]
However, they do not reveal how long it takes to respond to customer queries. Therefore, there is no guarantee that they will reply to any customer queries. Moreover, they do not have a live chat option or a mobile number.
Iron-Bits Regulation and Fund Safety
The biggest red flag about Iron-Bits lies in the regulatory status. This company does not have a regulatory body overseeing its operations. Such companies are bad news. They can do anything they want.
Only regulatory bodies can keep companies in check. They ensure that companies do not defraud their customers. You should only invest in companies that have licenses from relevant regulatory bodies.
Even worse, this company cannot assure you of your funds’ safety. They do not reveal the hardware and software they use to protect their systems. The lack of security features is a massive cause of concern. It means that hackers can easily access your funds and take away with them.
The official domain for Iron-Bits is iron-bits .com. Whois records reveal that the developers registered the domain on 6th October of 2020. This means that the company has been around for less than a year.
This is contrary to what the developers claim. On the about us page, they claim that they launched the company back in 2015. This lack of transparency speaks a lot about the people behind this platform. They are willing to lie to attract customers onto their platform. There is no telling what they may do next.
Moreover, Whois records show the expiry date of the website’s registration as 6th October of 2021. This shows that they do not plan to stick around for lock. This is a recipe for disaster.
This is not a trustworthy trading platform. The developers of Iron-Bits operate anonymously and lack transparency. There is no telling where they operate from. You cannot trust services offered by unknown individuals. Moreover, their educational services lack credibility.
Furthermore, this company has no regulatory body overseeing its operations. Therefore, they can do anything they want. They lie about the launch date. There is no telling how far their lies will go. Under such conditions, you cannot make any meaningful returns. It is easy to get scammed than it is to make any profits.
There are better companies that will offer you better services. Only use the best trading brokers in the market. Only such companies can assure you of your funds’ safety.