Last Updated on June 4, 2023 by Stephan Lindburg
Welcome to our Bitsoft360 review and impartial scam investigation! The greedy crypto scammers are back in full swing and this time they are using Bitsoft360 to bait unsuspecting victims. Let there be no mistake, Bitsoft360 is just another flashy website and obvious get-rich-quick crypto scheme.
This so-called “trading platform” is advertised as a web-based trading software which utilizes multi-functional data scripts for efficient trade execution. In the sales page, we can see that this bogus signals app is also being touted as an easy and “risk-free” way for new members to generate passive income. However, our researchers discovered that the charlatans behind this latest ruse have more sinister plans.
Speaking of charlatans, Bitsoft360 is being promoted by the creme de la creme in the con artist community. We have identified a highly unethical affiliate network with very deep pockets and an insatiable desire to obtain new paying customers. So get ready for fake reviews, sponsored articles, fake celebrity-based ads, and lots of clickbait advertisements.
Bitsoft360 Review – Broker Check: When we registered to conduct our £250 deposit test, the broker which synchronized with the app was named Royal FX. This investment platform has a registered business address in Belize (very shady legal jurisdiction). Upon further investigation, it became quite evident that this broker is not licensed to manage customer portfolios. In other words, this broker is operating illegally.
It’s also interesting to point out that before publishing our Bitsoft360 review, we were approached by an anonymous entity. This person (whoever he is) made a veiled threat about what will happen to ScamCryptoRobots.com if we blacklist this bogus software.
In this type of situation we always make sure to back up our database and beef up security. Then we simply ignore the email and mark it as spam. That being said, the fact that someone went to the trouble of sending us that email means there is a lot of money being invested in promoting this fraudulent trading software.
Still want to “scratch that itch” and take the Bitsoft360 scam app out for a test drive? In that case it would be highly prudent on your end to take a few minutes and read our impartial Bitsoft360 review.
Official Bitsoft360 Website, Login Page, and Members Area: There are 9 (Nine) websites claiming to be the official app. None of them are legit.
Evidence Of Scam
- 1 Evidence Of Scam
- 2 Bitsoft360 Fake Testimonials
- 3 Fake Bitsoft360 Reviews
- 4 Bitsoft360 Fake News
- 5 What Is Bitsoft360 And How Does It Work?
- 6 Bitsoft360 Review: World Class Crypto Trading App Or Scam Software?
- 7 Our £250 Deposit Test: Impressions and Customer Experience
- 8 Testing And Review Methodology
- 9 Alternative Opinions From Different Websites
- 10 No Backtesting Or Strategies Provided
- 11 Bitsoft360 Pros and Cons
- 12 Regulation And Patenting
- 13 High Risk Investment Warning
- 14 Safety and Security
- 15 Bitsoft360 Leverage
- 16 Is Bitsoft360 Compatible with Other Crypto Exchanges?
- 17 Bitsoft360 Deposits And Withdrawals
- 18 Bitsoft360 Trustpilot, Reddit, And Other Forums
- 19 Bonuses And Free Gifts
- 20 Bitsoft360 FAQ
- 21 Taxes Related to Bitsoft360
- 22 Tested Alternatives That Deliver
- 23 Bitsoft360: The Verdict
Check out the image below. It’s the main website and registration area for Bitsoft360. Take a real good look at where the registration form is located, the buttons, and the texts.
And here we have a template of another bot we exposed here on ScamCryptoRobots.com. You don’t need to be a rocket scientist to understand that this trading platform is just a recycled website which is being constantly used by con artists to promote their scams.
Bitsoft360 Fake Testimonials
Many of our viewers ask us why “other people” say they were able to generate profits using a certain software. The truth is that people read the testimonial section and many of them believe it. Unfortunately, they also act on it. That’s why we believe fake testimonials to be one of the most manipulative and misleading false advertising tactics used by scammers. Bitsoft360 is no different and uses these types of scam tactics.
Fake Bitsoft360 Reviews
Well, if you really want to spice things up a bit and build reputation for a new scheme then you would need to bombard the first page of Google with positive reviews. This is exactly the strategy which has been implemented and it’s also the reason why so many review websites are endorsing this bogus app.
The thing most people don’t see or know is that all or most of these websites belong to the same network. In fact, this affiliate network also owns most of the BitSoft360 “official websites”. If you wish to read more about who these crooks are and how they operate please message us via our contact page.
Bitsoft360 Fake News
Below you can see a fake news article in French that we were able to find. For some reason Reunion citizens are being targeted in this campaign. In most cases celebrities like Tesla CEO Elon Musk and Amazon Chairman Jeff Bezos are used to promote schemes. Other celebrities and high profile individuals that are constantly used are Martin Lewis, Charlotte Mary Hawkins, Arlene Dickinson, Michele Romanow, Richard Branson, Leo Varadkar, Andrew Forrest, Waleed Aly, David Koch, Michael Carroll, Peter Jones, Charlize Theron, Rishi Sunak, Mark Shuttleworth, Lee Hsien Loong, Bart De Wever, Sarah Harris, Holly Willoughby, members of the Dragons’ Den, Shark Tank, and Santiago Abascal.
We have also seen fake ads on spoofed websites claiming to be Le Monde, RTL, La Presse, and BBC. Con artists understand that fake celebrity-endorsements are highly effective at baiting people. For that reason this trend will not stop any time in the near future.
What Is Bitsoft360 And How Does It Work?
Bitsoft360 is reportedly an automated trading software which uses multi-functional data scripts to identify order types and optimize trade execution. By doing so the app claims to generate profits for new as well as existing members.
Bitsoft360 Review: World Class Crypto Trading App Or Scam Software?
It really does boggle the mind, but the amount of victims taking the bait and investing with scams like Bitsoft360 is constantly growing. That being said, customers have become much more adept to the crypto scene and understand how critical it is to conduct proper research. Smart investors who start asking the tough questions will immediately realize they are being taken for a ride and led by the nose.
Some of these questions have to do with who is really behind this software, what kind of process did I go through, why am I suddenly asked to invest an unusually high amount of money? All of these inquiries and more serve as a kind of litmus test for an entire industry that’s driven by pure greed and unethical business practices. However, it is especially true when newly-launched fake bots like Bitsoft360 are the topic of debate.
When ever we see well-funded affiliate networks promoting crypto robots for CFD brokers alarm bells start ringing. That’s because we tested the Bitsoft360 scam app, and in our estimation this dubious platform is completely fraudulent. We shall explain in detail why we believe this to be the case when we take you through the steps of our deposit test.
Our £250 Deposit Test: Impressions and Customer Experience
The first thing we noticed when we tried to fund our account via the Bitsoft360 scam app was that we were required to use an MT4 trading terminal. That seemed both strange and very illogical to us, not that there’s anything wrong with Meta Trader 4. Moving along, it took about 5 seconds from the time we registered until we received a phone call from a London phone number. When we answered a person by the name of Michael Spanos presented himself as our account manager. Spanos sounded very upbeat at first and wanted us to invest £1,000.
After we insisted that we would only be willing to invest the minimal amount he enabled the cashier and helped us fund our account. We used our Mastercard and were required to enter our pin code in order to confirm the transaction. This process is referred to as 3D secure and used in order to protect vendors from customer refund requests.
Are you constantly being asked to reinvest substantial amounts of money by aggressive account reps? If so, this is a clear indication that you are getting scammed.
Once that was finished we were almost immediately contacted by a “senior” account manager named Simon Dennison who was very adamant about selling us a new “fool-proof” trading strategy. But that strategy has a minimum £5,000 buy in. Dennison said that if we “want to make some real money” we will need to put up some real cash. When we insisted on seeing some kind of return on the initial deposit this person almost went ballistic and started using a passive-aggressive sales approach that puts even the most seasoned used-car salesman to shame.
Eventually Dennison understood that we were not going to invest additional funds before seeing some type of return on investment. That was the point where we started receiving offers for other trading systems as well as bonus offers for online gambling sites. It was also when we realized that we got scammed.
Testing And Review Methodology
When we review a certain offer or trading app our research staff follows very rigid guidelines. These guidelines are designed to provide our readers with much needed insights as to how we conduct our investigations.
|Follow the money trail||Who is really making the money here and how does that work?|
|Legal Check||What is the legal status of the software or service which is being offered?|
|Fact Checking||Are we being presented with genuine facts?|
|Performance Testing||Is there any type of performance testing which is being presented?|
|Corroborating Sources||Obtain additional sources of information and cross-check them.|
Our methodology also ads a degree of transparency, something which our readers have come to demand these days.
Alternative Opinions From Different Websites
Our staff has looked at what other websites have to say about Bitsoft360. These are few excerpts taken from the web which we decided to add in our review.
- An automated crypto app designed to insure the “maximum security” when “trading the crypto markets”.
- A highly accurate signals software which offers a “jaw dropping” return on investment.
- Today the stars are aligned and Bitsoft360 is “exactly what we have been waiting for!”
- This is an exceptional trading software which offers low rates and a very high accuracy level of 98%.
Just to reiterate, these are not our opinions. We believe that Bitsoft360 is a scam, but we also feel it’s our duty to show what other review websites have to say. It’s our belief that readers should also have access to alternative opinions in order to make informed decisions.
No Backtesting Or Strategies Provided
Legitimate trading apps will allow you to have a peak or explore the historical performance of the app. This is a very common practice with high-end investment platforms. Bitsoft360 does not allow you to access performance data or stats of any kind. New members will also find themselves looking various indicators such as stochastics or Bollinger Bands and coming up empty handed. Again, these types of stunts are to be expected when registering for a fraudulent software.
Bitsoft360 Pros and Cons
Below you will find a small chart which outlines the major pros and cons related to the Bitsoft360 scam app. Our researchers made sure to focus on the most important aspects.
If you feel that additional “cons” or downsides should be added to the chart please message us and let us know.
Regulation And Patenting
Plainly stated, Bitsoft360 is an illegal trading software. It’s not licensed in CySec, BaFin, or ASIC in Australia. We also asked for documentation related to PCI compliance, ISO licensing, and confidentiality of personal information. Our staff also contacted the patent office for the EU as well as other countries and came up blank. When we raised these issues with the Bitsoft360 staff we were basically told to mind our own business and move on.
High Risk Investment Warning
It’s the fine print that tells the story, and it’s also the only piece of genuine truth you will find on the Bitsoft360 website. The clause about the high risk investment warning buried in the bottom of the website where most people don’t even bother looking.
Safety and Security
This service is not safe in the sense that customers who register will be advised to invest additional funds into a software that doesn’t exist. But more troubling is a message we read in Github about phishing associated with Bitsoft360. We also used a third party service to check for malware, and apparently one of the domains associated with this fake app has a record of spyware which is downloaded via .exe files without any approval from users.
For those of you who are new to online trading and not familiar with the concept of leverage, you should know that in many ways leverage is like borrowing money. The broker fronts you money so you can trade, but if you lose it then you end up owing more money then you originally intended to risk. This is what happens to many victims, especially when brokers offer a leverage of 5000:1 which is completely insane.
Is Bitsoft360 Compatible with Other Crypto Exchanges?
Absolutely not! This platform does not integrate with any of the popular coin exchanges such as Binance or FTX. Some fishy review websites would have you believe otherwise, but that is a lie. Feel free to message the exchanges yourself and ask them about it. We did, and the support staff told us that they are not familiar with Bitsoft360. They even wrote that it is most likely a scam and that they are very well acquainted with this form of misleading advertising.
Bitsoft360 Deposits And Withdrawals
Funding a real money trading account through Bitsoft360 is a relatively simple endeavor. But try cashing out and see what happens. When we tried it we were basically shrugged off and tossed around from one department to another. This was done in order to discourage us from making a withdrawal. Eventually our account was frozen and we were not able to login.
Bitsoft360 Trustpilot, Reddit, And Other Forums
We have already spotted 3 fake profiles on social media platforms such as Facebook. Review platforms such as Trustpilot are horrible since spammers use them to promote their schemes. We keep getting complaints about this as well.
Bonuses And Free Gifts
Bonuses are offered to new members in order to get them to keep trading. However, the sales reps don’t mention that there are significant trading requirements linked to those bonuses. When were were offered a “free gift” the stipulations mentioned 35 times the bonus plus deposit.
That means we have to trade the actual investment amount as well as the bonus 70 times in order to be able to qualify for a withdrawal. When we politely refused the bonus the sales reps insisted we try it out and placed the bonus in our account despite our explicit request to refrain from doing so. After sending multiple emails the bonus was deducted and we were able to trade without being “locked in”. It didn’t help in the least bit, we still lost everything very quickly.
What Is Bitsoft360?
Bitsoft360 is advertised as a next-generation AI-driven trading robot which is web-based. However, our research proves that it is a fake bot.
Can I Use Bitsoft360 To Generate Significant Passive Income?
No. If you make the mistake of joining and investing you will surely regret it. There is no possible way Bitsoft360 generates money for anyone besides the promoters and shady offshore CFD brokers.
Why Are Other Websites Saying Bitsoft360 Is Legitimate?
Other review websites prefer advising their viewers that Bitsoft360 is legit since they are paid to do so. This is done via referral commission. Every time you invest through a link on their site they are compensated. Hence the conflict of interest.
I lost My €250. Is There Any Way To Get It Back?
No. That money is gone and chances are you will never see it again. We never recommend any type of recovery service either since these companies are the biggest crooks. They always demand money up front but never guarantee any results.
I Joined A Group On Facebook And Got Referred. Is That Common?
Scammers specialize in recruiting victims on social media. Your best bet is to find a reputable review website and conduct extensive research before investing!
Taxes Related to Bitsoft360
Have no fear! You will not need to pay any type of tax related to the Bitsoft360 scam trading platform. That’s because taxes are levied on profits, not on losses! Since we have already ascertained that Bitsoft360 is a losing app, you will not be required to declare income or profits of any kind.
Tested Alternatives That Deliver
Our team of expert researchers is constantly on the lookout for new and profitable systems. When we spot a potential “winner” we immediately test it and invest our own money. If the app passes our screening process we add it to our recommended systems section where our viewers can take advantage of it. So go ahead, feel free to check it out!
Bitsoft360: The Verdict
After checking all the facts we can conclude without any doubts that Bitsoft360 is a scam trading robot. We have decided to blacklist this service because it is completely fraudulent and highly deceptive. In our Bitsoft360 review we have provided in-depth explanations as to why we believe this to be true.
In our estimation, anyone who takes that “leap of faith” and invests via this fake app is sure to lose their initial investment. If you believe we have misjudged or need additional clarifications, please make sure to message us via our contact page. We typically respond in 24 hours.