BitQS Review UK – Scam or Legit?
As bitcoin’s price continues to rally, investors in the UK and worldwide are starting to get in on the act too. After all, the cryptocurrency market is no longer the playground of early adopters and techy people. Now, anyone can enter this market without having the burden of understanding the technology behind digital assets and researching the market when trading.
Using an automated cryptocurrency trading platform is one of the best ways to jump on the cryptocurrency wagon. If you’re based in the UK, BitQS is an automated trading software that promises to help you start trading bitcoin and other digital assets and make a daily profit of $1100 per day.
This raises the question of whether BitQS is a scam or legit. So, in this review, we’ll help you decide whether this automated bitcoin trading service is legit and can really generate these high revenues as it claims. We also analyze the software success rate, fees, client testimonials, and pros and cons, and show you the full process of opening an account with BitQS.
What is BitQS?
BitQS is an automated trading software that helps investors trade cryptocurrencies. The BitQS service, which is available on all devices, is simply based on a Robo-trading algorithm that buys and sells cryptocurrencies on your behalf. According to BitQS, it has members from 164 different countries that typically make a profit of at least $1,100 (around 800 GBP) per day.
The great thing about an automated trading robot like BitQS is that it makes all the trading activity on its own, meaning it does not require any involvement whatsoever by the investor. The robot can scan the cryptocurrency market 24/7 and allegedly generate passive income for the investor.
Notably, BitQS is not a broker so you’ll get channeled to a registered brokerage firm in your region. For UK investors, the automated trading software needs to have online brokers in the UK to collect funds from clients and execute orders. As such, your funds are being held at a third-party partner broker, and the BitQS trading system trades on your behalf.
Simply put, BitQS is an automated bitcoin trading software that helps investors who do not have any trading skills and knowledge to trade the bitcoin market. Crucially, this platform is not a stock trading app nor a cryptocurrency exchange. Instead, it is a trading software that connects its users to a partner broker. This will require you to open an online trading account with a third party broker and deposit a minimum of £250. In return, you’ll be able to use the software on any device at no cost and let the software automatically insert orders for you based on BitQS algorithms.
How Does BitQS Work?
Getting started with BitQS is fairly simple, even for those who have never previously used a trading system. This software was designed for all levels of traders, including new investors who do not have any technical skills or trading knowledge. With that in mind, let’s take a closer look at how you can get started with BitQS.
Step 1: Register
The first step you need to take is to register with BitQS for a new online trading account. Simply head to the robot’s website and enter your name, email address, and phone number in the UK, and then click on the ‘Get Started Now’ button.
Step 2: Open an Account with a Partner Broker
As we previously noted, BitQS funnels users to a third-party broker that is responsible to collect and secure clients’ funds and execute the orders made by the BitQS software. Depending on your location, BitQS automatically matches you with a registered broker in your country where you’ll be required to sign up for an online brokerage account.
Bear in mind that BitQS doesn’t provide the identity of the broker you’re using before you sign up for an online trading account. This means that you’ll have to investigate yourself to see if the broker is indeed licensed and regulated.
Step 3: Deposit Funds
After you’ve verified your identity and your account was approved by the assigned brokerage firm, you can add funds to your new online trading account. BitQS requires you to deposit at least $250 to get started, which you can fund by the payment methods provided by the partner broker.
The accepted payment methods may vary depending on the third-party partner broker, however, the vast majority of BitQS partner brokers accept debit and credit cards, UK bank wire transfers, and PayPal.
Step 4: Activate the Automated Trading Software
Now you can activate the automated trading software. From the broker’s dashboard, you’ll be able to turn on the live trading mode. Once you do that, the system will scan the cryptocurrency market and automatically insert orders based on its algorithms.
We highly recommend that you start with a paper trading account so you can evaluate the software’s performance and adjust the trading parameters if necessary. Then, whenever you see the software performs well, you can switch to live trading from your account dashboard.
BitQS Claimed Success Rates
BitQS claims that its automated trading software wins trades with 99.4% accuracy. As a result, the robot reports that members of the company typically generate a minimum profit of $1,100 per day, which is around £800. On top of that, BitQS also reports that some members earned their first million within just 61 days.
Whether these claims made by BitQS are in fact true or not is no very clear, and like the vast majority of automated trading systems in the market – you will find reviews from both sides, those who made profits and those who claim that the software is not that accurate.
Nevertheless, BitQS displays on its homepage live results of the software. It also shows on its website the total active users and the total profits already made for users.
In addition to the reports made by BitQS, the robot presents some of the app’s client testimonials of users who report generating profits of over £10,000 with a minimum deposit of just £250.
While it is quite difficult to identify whether these claims are genuine or fake, we could find some positive reviews online (including on Trust Pilot) of users who claim that the robot is indeed functional.
According to BitQS, there are no hidden fees at all. When you use this software, you’ll not have to pay any brokerage fees or any other trading fees. Additionally, BitQS does not take any commission from your profits.
Having said that, you most likely have to take into consideration the fees you must pay to the partner broker. Unfortunately, there’s no way to check your broker charges before you’re signing up for an account, however, we can confirm that BitQS channels users to CFD brokers in the UK that typically do not charge a fixed commission for every executed trade, but instead, they charge a buy and sell spread only.
Is BitQS a Scam?
Any automated trading platform like Bitcoin Evolution and Bitcoin System that promises daily revenues of thousands of pounds ending may appear to be suspicious. This required us to investigate whether this robot discloses crucial legal information on its homepage and provide a way to contact the team. Unfortunately, BitQS falls short in the matter of offering contact support service before you open an account.
The bottom line, we didn’t find any real evidence that this software is a scam. Testimonials on the robot’s site and reviews online appear to be genuine and indicate that it is possible to generate profits using this robot. Based on our analysis, this platform seems to be legit, but we recommend you be cautious when you are using this platform and before you try it with real money, test the software first on a paper trading account.
BitQS on Desktop & Mobile App
On its homepage, BitQS claims that users can trade via a mobile device, computer, and tablet. Or, in other words, BitQS only partners with brokers that give access to a platform that runs on all devices. If this is true, BitQS is one of the few automated trading systems that is available on all devices.
BitQS Payments & Withdrawal
BitQS does not provide any information about the payment methods available on this platform. This is because all deposits and withdrawals are chosen by the assigned broker that is authorized to handle clients’ funds. As such, the payment methods can vary among the partner brokers that BitQS uses, however, it is very likely that most brokers that work with BitQS offer investors to deposit funds with a credit and debit card, PayPal, and bank wire transfer. In some cases, you might have the option to deposit funds with bitcoin and other cryptocurrencies.
BitQS Minimum Deposit
Much like other automated trading robots, the minimum deposit requirement at BitQS is $250, which is around £185.
BitQS Customer Support
One of the main drawbacks of using BitQS is the fact that it does not offer any way to contact the support team before you sign up with the partner broker. There’s no phone number, email address, or even an online submit a ticket form.
BitQS does claim to offer free lifetime supports when you sign up with a third-party broker. However, we do not have any way to confirm that investors get good customer support service when using this platform.
How to Use BitQS
Ready to start using BitQS to generate revenues? Let’s review how you can get started trading with this automated trading robot in just 5 steps:
- Register for an online account with BitQS
- Open an account with the partner broker and verify your identity.
- Deposit the minimum amount required of £250
- Check the software performance on a paper trading account. Once you are ready, switch to the live trading mode and activate the system
- Withdraw your funds anytime you want
BitQS Pros and Cons
Our review found that BitQS is a relatively new automated trading platform that claims to be able to trade cryptocurrencies by using AI technology and the most advanced programming software in the trading world. As such, it is allegedly able to insert orders 0.01 seconds faster than other participants in the market and generate high profits for its users.
Obviously, there are risks when investing in an application like BitQS that is not very transparent in general. The fact the robot does not provide any communication methods and does not disclose the partner brokers before you sign up for an account is a concern for potential investors.
That said, the best way to start trading with this robot is to open an online trading account with the partner broker and try the platform on a demo account. If you are ready to do that, simply click the link below to get started.
BitQS – Sign Up Today
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
Have celebrities endorsed BitQS?
No, during this review we could not find any claim that celebrities have endorsed BitQS application.
Is BitQS regulated?
No, BitQS is not regulated by any financial agency. However, this does not come as a surprise as it is not a brokerage firm but a software company. BitQS channels users to partner brokers that might be regulated in the UK.
What is the minimum deposit required to start with BitQS?
BitQS requires a minimum deposit of $250, which is around £185.
Does BitQS have a mobile app?
BitQS reports on its website that the software runs on all devices including on mobile devices. This simply means that BitQS operates in collaboration with brokers that offer a mobile application.
How much does BitQS make?
BitQS claims that members typically make $1100 each trading day, which is around £800.
Is BitQS legit?
Unfortunately it is difficult to know whether is a legit operation. On the one hand, it does not disclose crucial information on its site such as the partner broker, terms and conditions, and information about the team behind BitQS. Moreover, it does not provide any way to contact the team. On the other hand, reviews online confirm that it is possible to make a profit with this robot. Therefore, the best way to test this platform is to open an account and check the software performance on a demo account.
What are the BitQS fees?
BitQS does not charge any fee for using its software. The only thing required from investors is to open an online account with the partner broker and deposit a minimum of $250.