Top Red Flags That Haunt Traders at Bitget

Winning trading challenges but failing to receive the prize money from Bitget? Are you forced to pay exorbitant fees for fund withdrawal access? Failing to cash out reward points? Have you been at the receiving end of the price manipulation activity carried out by Bitget? Well, look out for ways to recover your funds and search for a regulated broker instead.

Discussing Top Issues Concerning Traders at Bitget

No Prize Money Receipt Allegation

Winning trading challenges requires diligently following the required steps/instructions set out by forex brokers, staying vigil to the market movement, and placing the right bets. This is an incredibly challenging task, and traders should get rewarded for it. Unfortunately, such is not the case at Bitget. Traders are not only denied this but are not even given an explanation of the denial. Here is one trader who has expressed this growing concern.

Exorbitant Fees for Fund Withdrawal

The profit withdrawal process should be smooth. Traders already pay spreads, and on top of that, if something extra is added, it will only worsen their trading experience. They often have to pay exorbitant fees to Bitget for withdrawals. Here is one screenshot wherein a trader has pointed it out.

Misleading Promotions Disguised as Rewards

These were the exact words of the trader who expressed anguish as he failed to encash cash rewards. According to the trader, they are mere position vouchers and do not even classify as bonuses that can be traded. The trader alleged that Bitget did not inform anything about it, which goes against the principle of utmost faith. The screenshot below explains the miserable experience the trader had with Bitget.

Losses Due to Price Manipulation

Losses are inevitable in forex trading as currency prices fluctuate and can go against your speculation. However, when losses arise due to the price manipulation by the broker, traders are understandably left frustrated. Due to price manipulation by Bitget, a trader was left with a loss. While Bitget admitted its fault, it paid the trader only 30% of the losses and stopped communicating afterward. Here is a screenshot that explains the problem the trader had.

The Score for Bitget

The growing complaints against Bitget does not make its reputation any good. While that is a concern, the biggest red flag is that it is yet to be licensed by any competent financial authority. The lack of a license, despite being in the forex trading business for over two years, remains a point of concern. Factoring in all, the WikiFX team has decided to assign it a score of 1.29 out of 10.

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