Bit & Coins

Bit & Coins is a trading platform registered in the United Kingdom under the name Bit & Coins, with an official domain of bit-n-coins.com. The company was established on 23 March 2023, making it a relatively new entrant in the online trading space. According to our records, the firm is not regulated by any financial authority, which places it outside the oversight of major regulatory bodies such as the FCA or CySEC.

One of the most significant aspects of Bit & Coins is its lack of regulatory authorisation. The firm does not hold a licence from any known financial regulator, including the UK's Financial Conduct Authority (FCA), which is the primary oversight body for financial services in its country of registration. This absence of regulation means that traders do not benefit from protections such as negative balance protection, compensation schemes, or dispute resolution services that are standard for regulated brokers.

Bit & Coins offers four account tiers: BASIC, ADVANCED, EXPERT, and PRESTIGE. The BASIC, ADVANCED, and EXPERT accounts all feature a maximum leverage of 1:500, a high ratio that can amplify both gains and losses. The minimum deposit for each account type is not disclosed in the available records, and the PRESTIGE account has no specified leverage or minimum deposit. This lack of transparency on deposit requirements and the absence of information on available instruments makes it difficult for potential clients to fully assess the offering.

Our records do not specify the trading platforms or instruments offered by Bit & Coins. Industry databases provide no additional data on whether the broker supports MetaTrader, cTrader, or proprietary software, nor do they list the range of assets such as forex pairs, indices, commodities, or cryptocurrencies. This gap in information is a notable concern for traders seeking to understand the broker's capabilities.

Given the limited public information and the severe scam risk score of 75/100 assigned by FXCanary, Bit & Coins presents a high-risk proposition. The combination of a recent incorporation date, unregulated status, and opaque trading conditions makes it unsuitable for most retail traders. Without regulatory oversight, there is no guarantee of fund segregation or recourse in case of disputes. Traders are advised to exercise extreme caution.