Operating status: SCAM
On May 19, 2023, the Financial Conduct Authority (FCA) issued a warning against Bitwest, believing this broker might be providing financial services or products in the UK without authorization: https://www.fca.org.uk/news/warnings/bitwest
Bitwest fails to provide company details including company name, address, and phone numbers, as well as its regulatory information and licensing data, a clear scam indicator. It is typical for legitimate brokers to prominently display their accreditation and licenses to instill trust and transparency and thus the lack of such information may suggest the absence of regulation and accountability. In addition, the Financial Conduct Authority (FCA) has issued a warning against this broker for offering financial services or products without proper authorization.
In essence, Bitwest 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. It is unequivocally a scam.