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• Our Review Method

• Is Bitalong Scam or Legit Broker?

• What is Bitalong?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Bitalong due to the issues we've identified.

Is Bitalong Scam or Legit Broker? ▲

Trading with Bitalong raises significant safety concerns, leading us to caution against engaging with this broker. Notably, Bitalong's lack of transparency regarding its regulatory status is a red flag. While attempting to portray itself as a licensed entity, Bitalong conspicuously omits essential regulatory information from its site. This omission is particularly worrying because a genuinely regulated broker would prominently display such credentials. The absence of clear regulatory details suggests that Bitalong may be operating without the necessary oversight, which poses a risk to investors' funds.

Given the inherent risks associated with unregulated or offshore brokers, we strongly advise traders to opt for brokers that are subject to stringent regulatory frameworks. Well-regulated brokers offer the assurance of compliance with rigorous standards, including those related to the protection of client funds and transparent operations. Therefore, prioritizing brokers with a proven track record and regulatory compliance is essential for safeguarding your investments.

What is Bitalong? ▲

Bitalong represents itself as a premier digital asset trading platform, asserting its presence through independent service agencies in Auckland and Hong Kong. The broker claims to be dedicated to delivering safe, professional, trustworthy, and high-quality service to users globally. However, our investigation into Bitalong's operational and legal standing uncovered concerning details.

Efforts to verify Bitalong's company registration, legal address, or any foundational information proved challenging, casting doubt on its legitimacy. Typically, reputable firms are transparent about their legal status to affirm their credibility. The concealment of such critical information suggests that Bitalong operates either offshore or outside legal jurisdictions. Moreover, trader feedback reveals dissatisfaction with Bitalong's services, culminating in the loss of funds. Adding to the concerns, the New Zealand regulatory authority FMA has blacklisted Bitalong, highlighting false claims of association with the FMA-registered Jazz Finance Limited. This misleading representation and subsequent legal warning from the FMA underscore the broker's questionable practices and further justify our recommendation to steer clear of Bitalong.

Conclusion ▲

In light of the findings, we emphasize the importance of engaging only with brokers that are regulated by reputable authorities, such as the UK's Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). These regulatory bodies ensure that brokers adhere to strict operational standards, including measures for client fund protection. The continuous oversight by such regulators provides a layer of security for traders. Therefore, we suggest that traders consider reputable and regulated brokers to safeguard their investments. Bitalong's lack of transparency, regulatory concerns, and negative trader experiences significantly detract from its appeal as a trustworthy trading partner. Based on our comprehensive review and the issues identified, we recommend avoiding Bitalong and exercising caution regarding any future dealings with this broker.