Bid Bit Review ( bid-bit.com ) Scam

Hey everyone,

I wanted to share my experience with Bid Bit ( bid-bit.com ) to warn others about this forex broker. After doing some digging, I’m convinced that Bid Bit is a scam.

Is Bid Bit Legit or a Scam?

Sadly, Bid Bit is definitely a scam. One of the first things to check when dealing with any forex broker is whether they are regulated. Legitimate brokers need to have a proper license to operate in places like Europe, the US, and Canada. This license information should be easy to find, usually at the bottom of their website. In Bid Bit’s case, there’s either no license info at all or they’re displaying fake details.

Another huge red flag is the use of high-pressure sales tactics. They might lure you in with promises of huge returns, tempting bonuses, or claims that you can make money easily without much effort.

How Bid Bit Scams People

Here’s how these guys operate: Bid Bit, like other shady brokers, gets leads from third-party affiliates who are also in on the scam. These affiliates set up flashy websites, often featuring celebrities or big promises, to collect your contact details. Once they have your information, Bid Bit’s sales team swoops in, using aggressive tactics to get you to deposit money.

After your first deposit, you’re handed over to their retention team, whose job is to squeeze as much money out of you as possible. They’ll show you fake profits, make unrealistic promises, and try to build trust. They might even suggest taking out a loan to invest more. If you refuse or run out of funds, they’ll simply block your access to the platform and stop responding to your messages.

How to Get Your Money Back from Bid Bit

If you’re trying to get your money back, the first thing to do is submit a withdrawal request. I’m not going to sugarcoat it – the chances of success are slim, but you need to do this to have proof. Bid Bit might try to convince you not to withdraw, and in some cases, they might even get aggressive. They might also try the “paying taxes” scam, claiming you need to pay a capital gains tax before they’ll release your funds. Don’t fall for it – they’re just trying to take more of your money.

Steps to Recover Your Money

1. Credit Card Payments: If you used a credit card, contact your bank to initiate a chargeback. Show them your communication with Bid Bit and explain that they’re not processing your withdrawal. Time is of the essence here, as chargebacks are time-sensitive.

2. Wire Transfer Payments: If you made a payment via wire transfer (SWIFT or SEPA), getting your money back is trickier, but not impossible. Banks are generally reluctant to reverse wire transfers, but it’s worth a shot. You can also reach out to us for help.

3. Cryptocurrency Payments: If you paid with cryptocurrency is harder to retrieve the money. But still it depends from case to case.

Report Bid Bit to the Authorities

What Bid Bit is doing is online fraud, plain and simple. Report them to the relevant authorities in your country. The more reports they receive, the more likely they are to take action. There have been cases where scammers were caught, and victims were compensated, but only after enough complaints were filed.

Spread the Word

Finally, please help others by sharing your experience and leaving reviews about Bid Bit wherever you can. You can also drop a comment below about what happened and what steps you’re taking. The more people we can warn, the better.

I also have experience in recovering money from brokers before so don’t hesitate to ask for my help at [email protected]