Bitpie Exchange is a cryptocurrency exchange that claims to offer a wide range of trading options for its users. However, the legitimacy of this exchange has been a point of contention among traders in the cryptocurrency community. This review will explore why Bitpie Exchange should not be trusted as a reliable broker.
Is Bitpie Exchange a Licensed Broker?
The first red flag traders should be aware of is that Bitpie Exchange is not a licensed broker. As their claim of being a licensed broker, they cannot show their authorization and license information on their website. We tried to search on several regulatory websites but did not find any information. This raises a big red flag of being an unlicensed broker.
Why Should Not You Trust an Unlicensed Broker?
Traders should not trust unlicensed brokers because they do not have any legal obligations to protect their client’s investments. This means that if the exchange were to go bankrupt or engage in fraudulent activities, traders would not have any legal recourse to recover their funds. Furthermore, unlicensed brokers are often associated with shady practices and scams, making them a high-risk investment option.
Can Bitpie Exchange be Trusted?
Based on the lack of regulation and the associated risks, it is difficult to trust Bitpie Exchange as a reliable broker. We already explained why you should not trust an unlicensed broker like Bitpie. If you do, do it at your own risk.
What Do Traders Think of Bitpie Exchange?
A quick search online reveals several negative reviews and complaints from traders who have used Bitpie Exchange. Many of these traders have reported losing their funds or having difficulty withdrawing them from the exchange.
Scammed by Bitpie Exchange Broker?- Talk to Our Experts
If you have been scammed by Bitpie Exchange, submit a report through our form. We will analyze your case and will provide you with a free consultation with some good service recommendations.