Upon a thorough investigation, bitqy turns out to be an unlicensed broker.
Bitqy claims to be operated by Financial Innovations Limited, a company located in Ireland and authorized by the Central Bank of Ireland (CBI). While it is true that records matching this company exist in the CBI registry, it is crucial to note that the company is not included in the List of Investment Firms (MiFID). Therefore, bitqy, as a forex broker, offers investment services in the absence of the required authorization.
Furthermore, data from the CBI suggest a possibility that bitqy copies details of another real company to deceive unsuspecting investors. According to the CBI's website, the registered entity has a different trading name, and its address is in Ireland, which differs from the bitqy's claim to be located in Switzerland. This is a red flag.
Additionally, the Swiss Financial Market Supervisory Authority (FINMA) has issued a warning against bitqy, stating that this broker is not entered in its commercial register.
In conclusion, due to its fraudulent nature, bitqy is an unreliable platform that comes with significant risks. Investors dealing with it are exposed to financial losses and identity theft, as there are no rules in place to safeguard them. Therefore, we strongly suggest investors steer clear of unlicensed brokers like bitqy and instead choose a fully regulated one.
