Thinking of getting into business with Celsius Bit? Here is what you must know about this broker. Carefully read this review to find out if celsiusbit.io is the trading platform you will want to trade with.
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About Celsius Bit Broker
Celsius Bit is an offshore brokerage company with a lot of promises for traders. The broker is owned by CELSIUS BIT LTD.
The broker claims to offer 24/7 traders support, full trading tools, ICO access and verified security.
There are different account types Celsius Bit offers Silver, Gold, Platinum and VIP.
In spite the trading instruments Celsius Bit claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
celsiusbit.io: Reasons to Avoid This Broker
Firstly, celsiusbit.io is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as no financial authority recognizes this broker.
Secondly, we noticed celsiusbit.io has no demo account for traders. Because traders can’t test Celsius Bit broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Celsius Bit provides us with no information on what it charges forex traders on withdrawal.
However, the broker charges $5 on each month for an inactive account of 30 days.
Minimum Deposit
Celsius Bit minimum deposit on the account type is $10,000.
As for the payment methods, we can make payment via Wire transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Celsius Bit Platform
Celsius Bit offers web based trading software.
As for the leverage, the broker offers 1: 100. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Celsius Bit Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated claims are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is celsiusbit.io a Reliable Broker?
celsiusbit.io does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.