This company entices people to inject funds into their bank accounts. Verification is extremely fast. I sent my documents (Singapore IC and utility bill) and it was verified within a few hours. I then transferred $3000 from my DBS account to their Standard Chartered account in Singapore. One of their support people responded to my ticket within minutes assuring me that he or she would "personally look into the funds transfer" (they are super fast when checking something or anything inbound or money going to THEIR system and accounts).

After trading my funds for bitcoins, the difficulties began. Withdrawing the bitcoins is one of THE most difficult challenges of being a customer of this company! On the scheduled broadcast or send time, I see this transaction status:

"Your withdrawal is being processed. It can take up to two hours to broadcast."

Hours later it reverts back to "This will be sent to the Blockchain on the next working day."

It has been like this for several days now. The transaction status just keeps going from "being broadcast" back to "will be sent the next working day".

Asking them to look into the issue is absolutely useless. They are extremely fast when discussing or dealing with issues related to funds being paid to their accounts but if you want to withdraw or request anything that has to do with removing bitcoins or fiat from their system, they make climbing Mt Everest a thousand times easier to achieve!

This is fraud what they are doing. They encourage people to sign up for accounts. Once they have your money they make it extremely complicated and cumbersome to move bitcoins to an external wallet. I very much suspect that they are doing this to keep all funds and bitcoins within their system. I'm sure they are trying to prolong or even avoid the withdrawal process to give them time and opportunity to put the bitcoins in the market as a way to maximise their capital. That bitcoin volume on their site's front page is probably exaggerated to invite or tempt people to open accounts on their site!

Whatever the case I will not stop resending withdrawal requests. I will do this several times daily, even if it takes a year for them to finally realise that fraudulently withholding what is rightfully mine and not theirs is not something they can do in Singapore!

Its either they allow the XBT withdrawal or they completely return my $3000 to my DBS account!

To itBIT: Stop defrauding your clients! My account is fully verified and my limits are lifted so I am procedurally compliant with your published procedures on your website! Once withdrawn, you can count on me never to ever use your services again!

I should have followed my instincts and sent the $3000 to Bitstamp instead!

Don't use this company's exchange and trade services.

They have so many procedures which go 180 degrees totally against what bitcoin stands for which is SPEED of payment transactions. Instead they have complicated cut-off times, they don't send bitcoins on weekends, your fiat and bitcoins are at risk of all their red tape and do-this do-that policies. It's not bitcoin-friendly. They operate unilaterally in their favor. All this flowery corporate boasting you see on their site ("we are first in this.. first in that... best in this... best in that") are most likely meant to entice people to inject funds and bitcoins in their system! A SWIFT bank transfer is much faster than a bitcoin transaction on this exchange. After the cut-off time, it goes through several hours of "reviewing" your transaction... then the transaction is queued for initiation the FOLLOWING day. Then on that day, you see the transaction is again queued for broadcasting or sending to the blockchain. It's a long list of queues!