Information about the project
HubbleBIT review: HubbleBIT is a scam, and we’ll show evidence to support our accusations. HubbleBIT has a space theme to its website, which is apt for its name, referring to one of the largest space telescopes. It also serves the secondary purpose of presenting the broker’s philosophy straight away, as we correlate tech and space. In essence, HubbleBIT aims to be a modern brokerage that provides traders with access to modern trading technology. The goal here is to make trading both more effective and more accessible at the same time. That might be a tall task, but it’s definitely admirable that the broker is so ambitious.
Attention! The fraudulent project HubbleBIT turned out to be a complete copy of the scam TradeBaionics . Both of these projects were created by the same scammers.
They have absolutely identical sites, only the name has been changed from TradeBaionics to HubbleBIT . Within a few weeks of TradeBaionics operation, many traders have already figured out the essence of the scam. To get rid of the plume of negative reviews and continue the deception, the scammers simply made a rebranding.
Are Funds Safe with HubbleBIT?
With such lack of information and HubbleBIT being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers. A red flag that we noticed is HubbleBIT is withholding vital information to users.
HubbleBIT could go bankrupt from one day to another since there are no banking information about this broker.
HubbleBIT is an offshore broker. The problem with offshore brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why your funds are not safe with HubbleBIT.
HubbleBIT ’s web-based software is worse than useless. Trading on such an ugly and inconvenient platform is a nightmare, not to mention that it doesn’t feature tools people take for granted nowadays- Expert Advisors, for example.
Speaking of software, we’d like to offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists. We recommend MT brokers because both terminals are market leaders packed with sophisticated indicators, reliable charting tools and EAs making automated trading possible.
The EUR/USD spread delivered by the software is 0.2 pips, which is a fantastic Buy/Sell difference, but HubbleBIT is a scam, so don’t get excited.
In fact, most regulated brokers provide affordable spreads of 1 pip or below, and if you follow the links provided throughout the review, you’ll find high-rated real brokers, not a joke like HubbleBIT .
As to leverage, the broker reviewed states to provide up to 1:300 for retail clients, thus exposing itself as illegitimate- UK brokers can’t offer such a ratio. Britain, as well as other countries, chose to restrict leverage because prior to the interventions, more than 90% of the people were losing money due to misuse.
HubbleBIT DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is a subject of inconsistencies- it’s either $2500 (according to FAQ) or $10 000 (according to Home Page). In any case, though, you shouldn’t send those scammers a penny, let alone 10K.
As to funding, HubbleBIT states to accept a variety of payment methods, but their deposit system happened to be mysteriously dysfunctional, so we can’t verify the broker’s claims.
As for withdrawals and transaction fees, HubbleBIT imposes a minimum amount for Wire Transfers- $300, but the broker isn’t expected to send any money back to traders.
The inactivity procedures are frightening, though. First of all, HubbleBIT claims that an account becomes dormant after a year of no trading/deposits/withdrawals, and the annual charge for inactivity is $100 annually. However, if you do not log in for 21 consecutive days, you’ll be charged $50. That’s a scam!
Overall, we exposed HubbleBIT as fraudulent in this review, so make sure to avoid it.
Real reviews on the net
Now it is observed that almost every week there are massively negative reviews. People accuse the project of fraud and demand a refund.
If you have come across this investment project, please describe your cooperation in the comments on our website. Your review will greatly help other Internet users to save their time, money and not mess with HubbleBIT — https://www.hubblebit.com/
HubbleBIT review — Conclusion
Conclusion of the review
HubbleBIT (hubblebit.com) is another scam from an anonymous group of scammers who regularly create new pseudo broker sites to scam people. Fraudsters adhere to complete anonymity, hide behind someone else’s legal data. Considering all the checks, it is strongly discouraged to invest in the HubbleBIT.