[NEWS] Bit4x.com - First FOREX accepts bitcoin! - 1:1000 Leverage!!!

[RustyNomad]

I've been looking at Bit4x for a while now as I liked the idea of having my account denominated in BTC. Been reading through this thread today and glad I did not go ahead with it. Thanks for all those who exposed this business.

To the owner, Matic, the remarks you made in this thread is not what one would expect from a professional and or a person in your position. At stages I was willing to give you the benefit of the doubt but your remarks smacks of arrogance and you never really answered any of the pertinent questions asked of you. If the information provided in this thread is not enough warning to anybody contemplating opening an account with your firm then your attitude should surely be.

I think I will head the warning issued by the FCA:

The Financial Conduct Authority (FCA), UK’s financial regulator, issued a warning yesterday against Bit4X and VenetFX of being ‘cloned firms’ purpotrading to be authorized entities with the FCA.  A forex broker offering customers trading with the MetaTrader 4 platform, VenetFX states that its operations are part of Worth.IT Financial Services LTD, a UK FCA registered corporation.   Operating out of Slovenia, VenetFX made some headlines last year as it became the first forex broker to offer the ability to fund accounts with bitcoins, under its Bit4X brand.  They also launched a bitcoin denominated hedge fund which invests in the forex market.

Warning against VenetFX and Bit4X, the FCA announced that the brokers are in fact not affiliated with Worth.IT and are simply using the name of what had been a registered UK firm in the past, but no longer exists.  Categorizing the brokers as ‘clone firms’, the FCA stated that they are part of a tactic where “Fraudsters are using the details of firms we authorize to try to convince people that they work for a genuine, authorized firm”. 

Rest of the article can be read here ==> http://dcmagnates.com/uks-fca-issues-warning-against-bitcoin-brokers-bit4x-and-venetfx/

I'll just stick with my existing broker and keep on nagging them to get bitcoin into their service offering.

[1714745113]

1714745113

[1714745113]

1714745113

[1714745113]

1714745113

[1714745113]

1714745113

[ONLYfree]

Any news?

I saw active ads on bitmedia with this service.

Also they lowered first deposit to 0.1

[adaseb]

Any news?

I saw active ads on bitmedia with this service.

Also they lowered first deposit to 0.1

Honestly looks like a great broker but not much activity in this thread to know if anyone has any success using them.

Maybe there is another forum with more information about this broker.

[syndria]

Any news?

I saw active ads on bitmedia with this service.

Also they lowered first deposit to 0.1

Honestly looks like a great broker but not much activity in this thread to know if anyone has any success using them.

Maybe there is another forum with more information about this broker.

Do you use this broker yourself?

[capoeira]

Any news?

I saw active ads on bitmedia with this service.

Also they lowered first deposit to 0.1

Honestly looks like a great broker but not much activity in this thread to know if anyone has any success using them.

Maybe there is another forum with more information about this broker.

be careful with this broker. there was a first thread which OP didn't like the outcome and he deleted it. also the regulator which this broker claims to be regulated from issued a warning. check out the thread in my signiture for some infos on brokers

[jason777]

January 11th, 2016

Here is my Bit4X review:

I sent $5000 usd worth of bitcoin into Bit4X almost one month ago.

The deposit was applied to my Bit4x account within 24 hours.

The MT4 trading platform runs extremely smooth with this broker.
 There are no lags, and the platform has never crashed.

 Buys and sells were just about instantaneous using the platform; and probably the best performance I've seen in 15 years of trading.
  I did Not encounter any brokers tricks while using the platform.

 Yesterday, I requested a sizable withdraw, about 13K usd worth of bitcoin.

 The withdraw was processed promptly within 24 hours, and now I have the bitcoins in my wallet.

 ** All in All, I am very impressed with Bit4X and I will definitely utilize them again in the future.

 The ONLY negative that I have, is that my Bit4X account balance value floats up & down with the price of bitcoin.

 Hope this helps other traders.

ADDENDUM: I realize that many of you may ask why I would send this broker $5K right off the bat?
 The reason is that after reading all the past reviews about Bit4X, I decided that the allegations against the owner are frivolous.
So, I decided to make the deposit into Bit4X.

And now, the owner has confirmed his good business integrity.

[jason777]

And this is how it worked:

I deposited 5K usd worth of bitcoin into Bit4X

The 5K was converted into an internal denomination called a mBTC  (1000 mBTC = 1 Bitcoin)

https://bit4x.com/news

So at the time the 5K was worth 11000 mBTC

I ended up withdrawing a little over 30000 mBTC yesterday.

The MT4 platform only allowed me to withdrawal 9999.99 mBTC per transaction, so I had to make 4 transactions.

Then, the Bit4X admin combined all four of the MT4 transactions into one Bitcoin withdrawal request, destined for my outside wallet address.

[syndria]

And this is how it worked:

I deposited 5K usd worth of bitcoin into Bit4X

The 5K was converted into an internal denomination called a mBTC  (1000 mBTC = 1 Bitcoin)

https://bit4x.com/news

So at the time the 5K was worth 11000 mBTC

I ended up withdrawing a little over 30000 mBTC yesterday.

The MT4 platform only allowed me to withdrawal 9999.99 mBTC per transaction, so I had to make 4 transactions.

Then, the Bit4X admin combined all four of the MT4 transactions into one Bitcoin withdrawal request, destined for my outside wallet address.

[armlock]

Guys take care with bit4x. They are forex scammers. They never send my money back and now they deleted my live account with my money

[ONLYfree]

Hi,

with great displeasure we are informing you Bit4X is shutting down.

Note that your balances are safe, however we occurred uncircumventable problems between our liquidity providers and clearing operations.
Therefore we ask you to close your open orders by the end of Fridays (tomorrow) market hours and then proceed to withdraw.
We realize the notice is sudden - this is because we tried until the end to alleviate the mentioned issues in order to continue our operations,
however this proved to be impossible. It is likely our price feeds will be offline by Monday.

We sincerely thank you for trading with us.

Best regards,
Bit4X team

[oblomov]

Wow, could you provide more details?

I'm not asking you to name names or provide confidential information.

I just want to understand the mechanics of this forced shutdown.

Was it regulatory, i.e. KYC/AML issues, or something else?

Note:  I am not a customer but was planning to open a live account in the next few months.

[ONLYfree]

We are still working on keeping the business ruining but it is not looking too well.

All best,
Maja


Thats all emails.

I close all orders on Friday and asked withdrawal.

Funds received.

[jason777]

Funny how I never got a letter saying I should withdrawal.

Probably because I had just redeposited 9k USD.

Maja is the coward who will not answer my email.

At this point in life, I'm losing everything as a result  of Maja robbing me.
 Life is so dark and grim
That I'm contemplating whether or not to keep going.

I want everyone to know that I am suffering tremendously and I have repeatedly
Begged Maja to return my balance .

I made the major mistake of trusting Maja.
I even went to bat for him.

He is destroying me in return.

May God help me. 

May God have vengence on Maja.

James G.

[Pizpie]

Sorry to hear about your troubles!
For anyone looking to an alternative: https://1broker.com

[capoeira]

I always warned about this broker, incl. in this topic