Bitalong Review (2023)

• Company name: 

Bitalong

• Registration Address/ License:

Registration is not clear. Broker with No License and No Regulation. 

Bitalong is a brokerage firm that states its world-leading digital asset trading platform that has independent service agencies in Auckland and Hong Kong. The broker also mentions its commitment to providing safe, professional, trustworthy and high-quality services for users all over the world.

The concerns about Bitalong started at the stage to find its legal documentation, as it was quite hard to reveal the registration of the company, its legal address or any information. Normally, a reputable firm presents this sort of data to confirm its legitimate status. Whenever any entity hides its history it simply means the firm is most probably an offshore or non-legal state.

Moreover, it was revealed, the traders engaged in trading with Bitalong submit various complaints against the performance provided, while at the end the funds were lost. In addition, the New Zealand regulatory body FMA has blacklisted Bitalong broker, while the company was detected in their claims to be associated with FMA registered firm Jazz Finance Limited. In fact, the authority claimed its false state of association, while another entity performance and business is also rather suspicious than legitimate. Therefore, the broker received its legal warning and investors were informed not to interact with this company. (Check official FMA statement by the link)

In conclusion, as we always advise traders should choose among the regulated brokers only, alike UK’s FCA, Australian ASIC or other similar regulated companies. The funds of security always go first, and the authorized entities only can guarantee the follow of operation with implemented customer protective measure rules, as the regulator constantly checks on it.