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BIT Lords is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.
BIT Lords claims to be regulated by the Global Financial Authority (GFA). However, there is no such financial watchdog. The name and the related logo are possibly fabricated by the broker to fool unsuspecting investors. In addition, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Iron BIT Lords, stating that this broker is not entered in its commercial register.
Regarding your question, our advice is not to deal with BIT Lords due to its status as an unlicensed broker. Using unlicensed brokers like BIT Lords could pose significant risks to investors, including financial losses and identity theft as there are no rules to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like BIT Lords and choose fully regulated ones instead.
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