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BITFXARENA

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Operating status: SCAM

Website: https://bitfxarena.com/

Broker violations and abnormal records
  • 2023-09-03 The Spanish CNMV adds BITFXARENA to its warning list

    On September 4, 2023, the Comisión Nacional del Mercado de Valores (CNMV) added BITFXARENA to its warning list for providing investment services without authorization. https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0

    On September 4, 2023, the Comisión Nacional del Mercado de Valores (CNMV) added BITFXARENA to its warning list for providing investment services without authorization. https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0
  • 2023-09-07 BrokersView has reviewed that BITFXARENA is an unregulated broker

    BITFXARENA claims to be a platform for trading cryptocurrencies. It is allegedly domiciled in the US, but there are no indications that it is registered with the US Securities and Exchange Commission (SEC).

    Furthermore, the Comisión Nacional del Mercado de Valores (CNMV) has added BITFXARENA to its warning list for providing investment services without authorization.

    In essence, BITFXARENA is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. 

    BITFXARENA is unequivocally a scam.

    BITFXARENA claims to be a platform for trading cryptocurrencies. It is allegedly domiciled in the US, but there are no indications that it is registered with the US Securities and Exchange Commission (SEC).Furthermore, the Comisión Nacional del Mercado de Valores (CNMV) has added BITFXARENA to its warning list for providing investment services without authorization.In essence, BITFXARENA is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. BITFXARENA is unequivocally a scam.

Related Complaints

Q&A

What is the stop out level on BITFXARENA?

Fareed Mohammed
Jamaica
2023-10-16
ANSWER You should always check BITFXARENA's licenses before you think about its trading conditions. Cryptocurrencies are very risky to deal with, and the risk becomes even higher if the platform has no regulatory oversight. BITFXARENA is not under any authority's control and we strongly advise you to stay away from it.BITFXARENA says it has been trading cryptocurrencies for more than 10 years, but its domain ("bitfxarena.com") was only registered in September 2022. This makes it very hard to trust its credibility. BITFXARENA claims to be based in the US, but it does not have any registration with the US Securities and Exchange Commission (SEC).Moreover, the Comisión Nacional del Mercado de Valores (CNMV) has warned that BITFXARENA is offering investment services without authorization, another testament to its fraudulent nature. You can refer to the CNMV warning list for more details.To sum up, BITFXARENA is not regulated by anyone. It is very dangerous to give this broker your money, because there are no legal guarantees to protect it. To avoid risks of fraud and identity theft, we strongly suggest investors steer clear of unlicensed brokers like BITFXARENA and instead choose a fully regulated one.
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