Is BitOpps Scam? NO
Are you checking out different online brokers to start your trading journey? The market definitely doesn’t lack in options and there are plenty of brokers willing to help you get started with your career in trading. But, not all brokerages are the same and you may end up making the wrong choice. You don’t want that to happen because it puts your personal information at risk along and you could also end up losing your hard-earned money, especially if the broker turns out to be a scam. Even if the broker is legitimate, they may not offer the kind of services you want.
They may not deal in the asset you wish to trade or may only cater to professional traders. Suffice it to say, the process can become one big headache. If you don’t want to have to deal with these issues, you should know everything necessary about a broker before you decide to use their services. BitOpps is also one of the brokerages in the market and you can take a close look at them before you make your final decision.
Overview of BitOpps
BitOpps has become one of the most popular brokers in today’s market even though it hasn’t been around for that long. It was established recently in 2019 and is based in the United Kingdom. Despite the fact that it is relatively new, the broker has made great strides in the market and has earned quite a reputation due to its impressive cryptocurrency offerings. That’s right; BitOpps is a cryptocurrency broker that gives traders the opportunity of trading a plethora of cryptocurrencies, one of the trending financial instruments in the market.
An important thing you should know about BitOpps before opting for this broker is that it offers Contract for Difference or CFD trading. In simple terms, traders do not buy the actual asset, which is cryptocurrency in this case. Instead, they trade contracts predicting the price movements of the cryptocurrency. This form of trading allows brokerages to provide more investment options to their clients. Along with this, it also reduces their risk because they haven’t bought the asset physically. As for the broker’s clientele, BitOpps accommodates both new crypto traders and those who have experience.
This means you can also find what you are looking for with BitOpps. The broker has an impressive range of crypto available for trading, which includes leading options like Bitcoin, Ethereum and Litecoin and some less renowned options like IOTA, Bitcoin Cash, Ripple, Dash and NEO.
Safety at BitOpps
The first priority for most traders is the security measures that are implemented by a broker because you will have to share your personal information with them. This information is sensitive and can be used illegally if it falls into the hands of criminals or unauthorized individuals. Therefore, it is natural to be concerned and traders should check to see if the broker takes security seriously. BitOpps has managed to impress its clientele with the topnotch security criteria it has set for its platform. The broker has opted for the highest standards of encryption, which come into effect as soon as the trader shares their information.
Everything is encrypted right away to prevent anyone from accessing any communication or compromising information. As traders are also concerned about the money they deposit with the broker, BitOpps has taken measures to keep your funds safe as well. How? The brokerage keeps segregated accounts, which means client accounts are kept separate from the brokerage’s own accounts. This eliminates the possibility of misappropriation and traders can get their funds back even if the broker goes bankrupt.
Along with these measures, BitOpps is also in compliance with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policy. These policies verify the identity of every individual who signs up with the broker. Documents have to be submitted for account verification, such as proof of ID in the form of passport or ID card and proof of address in the form of utility bill or bank statement.
Trading Conditions at BitOpps
Understanding a broker’s trading conditions is important because this will tell you how much profits you can make. Some brokers have extremely high commission rates or spreads and this makes it difficult for traders to earn profits. BitOpps doesn’t fall in this category as the broker wants its clients to maximize their returns. To make it happen, they have developed a proprietary web trading platform accessible through the web browser. This means it can be used on any device supporting web browsers, giving traders lots of flexibility.
Moreover, the platform also has Daily Market Review and trading signals that can be helpful during decision making. You can also find charting tools and price alerts that can help. BitOpps also offers leverage to crypto traders, starting from 1:2 and going as high as 1:20. This allows you to invest more than you have and earn as much as you can.
Account Choices at BitOpps
As mentioned before, BitOpps is welcoming traders from all backgrounds due to which it offers a varied number of account choices. There are six account options that you will come across and can be explored to see which account suits you. The options start with Basic account for beginners, which needs a deposit of 500 EUR. The most expensive account that you can open with the broker is called the Black account and this is only accessible to VIP traders who meet some specific requirements. You can consult with your account manager to know what these requirements are.
Other than these options, BitOpps has offered the Bronze, Silver, Gold and Platinum accounts, with each climbing up the ladder in regard to features and benefits. Some features like customer support, Daily Market Review and education access is consistent across all accounts, but others are reserved for specific accounts, as per the traders’ needs.
Knowing everything about this broker in our BitOpps review will not leave a single doubt in your mind about whether they are a good choice for cryptocurrency trading or not and you can rest assured that there is no BitOpps scam happening!
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