Warning: Is Fistbit a Scam?

Fistbit (fistbit.com) Review

Be careful of Fistbit (fistbit.com); it displays several signs of a scam.

Fistbit claims to be a investment firm, but it is currently not authorized by any major commission, like the ASIC or CySEC.

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Is Fistbit Legit?

Our investigation shows that Fistbit lacks a valid license.

Investing with unregulated entities is extremely dangerous. Real firms are always licensed with agencies like the SEC, ASIC, or FCA for your protection.

Fistbit lacks this supervision. As a result, there is no protection if they withhold your funds. Many investment fraud involve unregulated actors, and getting back funds from them is hard without expert help.

For example, in Europe, unlicensed firms are outside the jurisdiction of the Financial Ombudsman. In the US, they are not part of SIPC, so your money is completely exposed.

Warning Signs of Fistbit

Investment fraud is evolving. Criminals use social engineering to take your savings. Here are typical tactics used by brokers like Fistbit (fistbit.com).

Dating App Scams

The "Romance Scam" is a brutal tactic where scammers groom victims over months. They fake a friendship on social media. Once trust is built, they mention a "lucrative" crypto opportunity. It is a lie to get you onto a fake platform .

The "Bonus" Trap

Fraudsters build websites that look exactly like real trading apps. You see graphs and profits that go up. But it is a simulation. The scammer controls the numbers to convince you to deposit more. When you try to withdraw, the "profits" are gone.

Other Warning Signs

• Cold Calling: You get calls from "brokers" you don't know.
• Unregulated: The firm lacks legal registration.
• High Returns: They guarantee 1% daily returns or risk-free trades.
• Withdrawal Issues: They refuse withdrawals. They ask for "tax fees" first.
• Aggressive Sales: "Account managers" pressure you to deposit more.

Ignore positive ratings. Scammers often post their own positive comments to look legitimate.

Conclusion

We advise against Fistbit. It appears to be a fraud. Protect your money and find a licensed broker. Avoid fistbit.com at all costs.