bitandcoins.com validity www.bitandcoins.com

By Coert Groenewald, from South Africa, September 8, 2020 at 08:11 PM

Trying to research the validity of bitandcoins.com trading platform of which brokers operate from UK. They are using cryptonet.exchnage as exchange clearing. cannot find anything or any reference

Answer: Hi Coert Groenewald,

There is not much information about this broker online and also there is absolutely no information about broker’s regulation or authorisation, meanwhile the broker claims to be located in the UK. We haven’t found any proofs of the broker’s license in the regulator’s register.

In addition, there are a lot of negative reviews about Bitandcoins, where clients complain about withdrawal problems and abusive sales managers. We would recommend you to stay away from this company and choose from the well-regulated brokers. 

6 responses to “bitandcoins.com validity”

  1. I have been a Bitandcoins customer since the first week of August 2020 and, I might add, a very unhappy one at that. The Account Manager assigned to me, Thomas Carter, managed to convince both my wife and I to invest more money on trading as we would stand a better chance of earning the few dollars more that would help us make ends meet each month. Firstly we invested the STANDARD amount of R 4 500.00, as stated in your add on the internet. A few days later we invested and additional R 30 000,00. We were able to raise the money by selling our car.

    I am very disappointed with Mr. Thomas Carter because on 7 August 2020, my first trade, he announced that he was going on a business trip to Denmark and that he would be in contact with me again on Tuesday, 11 August 2020. Thomas Cater did not tell me how to close a trade and how to take the profit, should one want to.

    I kept a watchful eye on my trades and at about midday on Monday, 10 August 2020, my wife and I were ecstatic, the trades actually showed a profit of US$ 400.00. It may be small change to some people, but in our country the US$ 400 equates to our total monthly income.

    However, our joy was short lived as the trades soon started losing ground and I anxiously awaited Thomas Carter’s telephone call on Tuesday 11 August 2020. That did not happen and at 11H54 I sent Thomas Carter an email asking him whether I could expect him to contact me. He sent me an email stating that he was still on business in Denmark and that he would phone me between 9H00 and 11h00 local time on Wednesday 2020. This did not happen either. I was so panic stricken about the trades losing ground that I decided to close them, two of them at a loss ant two of them with a very meagre profit.
    A number of emails evolved and eventually Thomas Carter contacted me on Monday 17 August 2020. He was most apologetic that he had let me down so badly and that I needn’t worry as he would take special care to help me with some trades.

    Thomas Carter then guided me through the investing procedure and then advised me to trade in OIL OCT 20 and USDZAR. Then our connection was broken due to a power blackout at my end of the line. )We have these blackouts three times a day for the duration of two and a half hours each.)
    Thomas Carter phone me on 18 August 2020 and advised me to invest in BITUSD and GOLD. He would locate the trade, enter the amounts to buy and told me to click on INVEST.

    Suffice it to say that I have been sending Thomas Carter email upon email with little or no response. I questioned his choice on the trades as we invested in them at their peak, but his answer was, as long as the trades remain open you cannot lose any money. It got so bad that I asked him, by email, whether I should close the OIL trade as we were breaking even on the trade, but no answer and from then all my trades were closed by your system.

    On Friday, 4 September 2020, Thomas Carter told me to deposit another US$ 500.00. I told him there was no more money to invest, He then guided me to me to invest in OIL again but double up to cover the loss. Well, the bottom fell out of the oil market and that trade was also closed by your system.

    On Wednesday, 9 September 2020, a person by the name of Kees phoned me about my account and suggested that I should invest more money. I told him that I do not have anymore money. He said he would contact me again, but I have not heard a word from him.

    At this juncture I wish to point out that I have had a very shoddy experience with your company, which has cost me every penny that I posses.

    I look forward to you response

  2. 9/17, 10:52 AM] Johan: Instead of sending my funds to my bank account in South Africa Phillip Meyer did an unauthorized trade with my money.
    I am sending to day all the correspondence to Facebook, all the Social networks,IFSC
    Hello Peter and) other webpages who warn and comment on Forex Brokers as proof what happened to my dealings with BitandCoins when I reacted on a Facebook advertisement of Qinvest on 25 July 2020.
    You did not sent me bank proof that my $397.80 minus your small fees as detailed under withdrawal section on your platform have been deposited to my bank account in South Africa as instructed to you on the 9 th September 2020.
    [09/17, 10:53 AM] Johan:

    Proof of unauthorized trade instead of remitting my money to my bank account in South Africa He did a DAX 30 trade.
    Your trade #30689 on asset undefined was closed due to insufficient margin collateral funds with profit -299.14 at date 28/08/20 15:20:23
    ALL
    COMMODITIES
    INDICES
    STOCKS

    ASSETS SELL(BID) BUY(ASK) % Alert
    OIL OCT20
    3 9 . 4 6
    3 9 . 4 6
    1.53
    Details
    GOLD
    1 , 9 4 0 . 6 7
    1 , 9 4 1 . 4 2
    0.48
    Details
    Nasdaq 100 DEC20
    1 1 , 0 3 5 . 8 8
    1 1 , 0 3 9 . 3 8
    0.46
    Details
    SILVER
    2 6 . 7 1 3 0
    2 6 . 7 6 8 0
    0.67
    Details
    BRENT NOV20
    4 1 . 5 3
    4 1 . 5 8
    1.75
    Details
    S&P500 DEC20
    3 , 3 1 9 . 5 0
    3 , 3 2 1 . 0 0
    0.56
    Details
    PLAT OCT20
    9 4 2 . 0 0
    9 4 5 . 0 0
    0.24
    Details
    FTSE DEC20
    5 , 9 8 7 . 2 5
    5 , 9 9 0 . 7 5
    0.07
    Details
    NGAS OCT20
    2 . 2 3 9
    2 . 2 4 9
    -0.80
    Details
    JSE 40 DEC20
    5 2 , 0 6 1 . 5 0
    5 2 , 1 0 6 . 5 0
    -0.15
    Details
    COPPER SEP20
    3 . 0 1 7 3
    3 . 0 2 2 3
    0.03
    Details
    HOIL OCT20
    1 . 0 8
    1 . 1 1
    0.91
    Details
    NIKKEI225 DEC20
    2 3 , 1 3 2 . 0 0
    2 3 , 1 4 3 . 0 0
    0.23
    Details
    EBUND DEC20
    1 7 3 . 9 0
    1 7 4 . 2 5
    0.12
    Details
    COTT2 OCT20
    6 4 . 6 9
    6 4 . 9 4
    0.32
    Details
    TN10 DEC20
    1 3 9 . 3 8
    1 3 9 . 6 3
    0.04
    Details
    TOPIX500
    1 , 2 6 4 . 3 7
    1 , 2 6 5 . 6 2
    0.12
    Details
    EU Stocks 50 DEC20
    3 , 1 1 1 . 7 3
    3 , 1 1 3 . 2 8
    0.00
    Details
    VIX OCT20
    2 2 . 5 1
    2 2 . 5 4
    0.00
    Details
    GLT SEP20
    1 3 7 . 0 1
    1 3 7 . 2 6
    0.07
    Details
    TB30 DEC20
    1 7 6 . 5 0
    1 7 6 . 8 0
    0.12
    Details
    TN5 SEP20
    1 2 5 . 7 7
    1 2 6 . 0 2
    0.00
    Details
    DAX30
    1 3 , 2 3 4 . 6 1
    1 3 , 2 3 4 . 6 1
    -0.07
    Details
    TESLA
    4 4 1 . 9 5
    4 4 1 . 9 5
    -0.05
    Details
    CAC40
    5 , 0 6 6 . 3 0
    5 , 0 6 6 . 3 0
    -0.20
    Details
    DOW DEC20
    2 7 , 4 9 1 . 7 5
    2 7 , 5 0 4 . 2 5
    0.53
    Details
    APPLE
    1 1 2 . 1 5
    1 1 2 . 1 5
    0.00
    Details
    MICROSOFT
    2 0 4 . 9 7
    2 0 4 . 9 7
    -0.02
    Details
    BOEING
    1 6 7 . 5 2
    1 6 7 . 5 2
    0.00
    Details
    BP
    2 5 5 . 6 8
    2 5 5 . 6 8
    -1.79
    Details
    AMAZON
    3 , 0 7 7 . 5 5
    3 , 0 7 7 . 5 5
    0.02
    Details
    GOOGLE
    1 , 5 2 1 . 2 2
    1 , 5 2 1 . 2 2
    0.00
    Details
    VOLVO
    1 7 1 . 5 0
    1 7 1 . 5 0
    0.63
    Details
    LAFARGE
    4 1 . 1 1
    4 1 . 1 1
    -0.22
    Details
    LLOYDS
    2 6 . 6 8
    2 6 . 6 8
    -0.15
    Details
    BEIERSDORF
    9 7 . 9 3
    9 7 . 9 3
    -0.02
    Details
    PGE-WAR
    5 . 3 9
    5 . 3 9
    -2.68
    Details
    BARCLAYS
    1 0 2 . 9 7
    1 0 2 . 9 7
    -1.36
    Details
    JUVE
    0 . 9 3 3
    0 . 9 3 3
    1.20
    Details
    DEUTCHE BANK
    7 . 8 5
    7 . 8 5
    -0.13
    Details
    LUKOIL
    4 , 8 4 3 . 7 5
    4 , 8 4 3 . 7 5
    -0.08
    Details
    HARLEY DAVIDSON
    2 6 . 4 6
    2 6 . 4 6
    0.04
    Details
    TATNEFT
    5 2 7 . 9 0
    5 2 7 . 9 0
    -0.64
    Details
    TENARIS
    4 . 7 7
    4 . 7 7
    1.31
    Details
    RTS DEC20
    1 2 3 , 6 3 5 . 0 0
    1 2 3 , 6 3 5 . 0 0
    -0.09
    Details
    GAZPROM
    1 8 3 . 5 6
    1 8 3 . 5 6
    -0.26
    Details
    HUBS
    2 7 7 . 2 9
    2 7 7 . 2 9
    0.00
    Details
    VODAFONE
    1 0 9 . 2 8
    1 0 9 . 2 8
    -0.89
    Details
    FACEBOOK
    2 6 3 . 5 7
    2 6 3 . 5 7
    0.00
    Details
    DJIA
    2 8 , 0 3 6 . 0 8
    2 8 , 0 3 6 . 0 8
    0.00
    Details
    APAM
    2 4 . 8 5
    2 4 . 8 5
    0.82
    Details
    VOLKSWAGEN
    1 5 7 . 1 5
    1 5 7 . 1 5
    -0.48
    Details
    ORACLE
    6 0 . 4 1
    6 0 . 4 1
    -0.02
    Details
    BVB
    6 . 2 7
    6 . 2 7
    6.68
    Details
    SAMSUNG
    1 , 3 0 6 . 0 0
    1 , 3 0 6 . 0 0
    0.35
    Details
    BASF
    5 4 . 9 8
    5 4 . 9 8
    -0.44
    Details
    NETFLIX
    4 8 3 . 6 9
    4 8 3 . 6 9
    0.00
    Details
    HUGO BOSS
    2 4 . 6 9 5
    2 4 . 6 9 5
    1.43
    Details
    NSDQCO
    1 1 , 0 5 0 . 4 5
    1 1 , 0 5 0 . 4 5
    0.00
    Details
    SAIPEM
    1 . 6 8
    1 . 6 8
    2.48
    Details
    PLAY
    1 9 . 1 2
    1 9 . 1 2
    0.00
    Details
    HEINEKEN
    7 7 . 7 5
    7 7 . 7 5
    -0.03
    Details
    AZN-LON
    8 , 5 4 1 . 0 0
    8 , 5 4 1 . 0 0
    -0.27
    Details
    GODADDY
    7 3 . 4 6
    7 3 . 4 6
    0.00
    Details
    TNA
    3 3 . 6 8
    3 3 . 6 8
    0.00
    Details
    SIEMENS
    1 1 8 . 2 4
    1 1 8 . 2 4
    0.89
    Details
    INTESA
    1 . 7 5 5
    1 . 7 5 5
    -1.58
    Details
    CONTINENTAL
    9 4 . 8 5
    9 4 . 8 5
    -0.07
    Details
    PRGO
    4 9 . 8 3
    4 9 . 8 3
    0.00
    Details
    TERNA
    6 . 0 5
    6 . 0 5
    -0.66
    Details
    DAIMLER
    4 6 . 1 1
    4 6 . 1 1
    -0.02
    Details
    PZU-WAR
    2 7 . 4 3
    2 7 . 4 3
    -0.32
    Details
    BAYER
    5 6 . 4 7
    5 6 . 4 7
    -1.00
    Details
    BMW
    6 4 . 4 9
    6 4 . 4 9
    -0.28
    [09/17, 10:57 AM] Johan: I am proceeding by disclosing to all abovementioned.

    Sent from my Huawei phone +27 84 5843521

  3. I invested the sum of R40 000 from the start. that was in July,2020. Thomas Carter was the broker, he called about every second day and send regular reports, through emails. Suddenly an amount of US$8500 change into the meagre sum of $78.48! He phoned again after that but asked to withdraw some more money. I told him that everything i had was with them. I am very dissapointed that I lost that amount of money and they still insist for another deposit! Never trust them again!

  4. It seems that i am gone follow in the same trap than other s did. Any advice in dealing with these scamsters . Thanks for mentioning your story

  5. My sincere appologies for the way i judge. I believe that my consultant doing its best to improve my financial states. I costed me so money but believe that i will bear the fruit at the end of the day. Off course the better i do the better is his commission. Win win situation. Tx Simon for handling the situation so proffesional. Keep up the good work

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