BitIQ Review – Real Deal or a Scam?

BitIQ a Bitcoin trading robot, makes bold claims about automated trading success and high profitability.

Our BitIQ review will look into these claims, digging into the platform’s features, performance and reliability. Our goal is to provide a comprehensive overview, so that you can determine whether BitIQ is the right trading platform for you, and whether there is truth behind this bot’s claims.

BitIQ Summary

Let’s start our BitIQ review with an overview of the key things you need to know about this trading robot:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is BitIQ?

BitIQ is a trading robot that trades cryptocurrencies automatically on your behalf. With this robot, you can set up an account and then sit back as the platform finds trades and executes them for you.

The platform’s trading is apparently based around its sophisticated AI algorithm. The algorithm is able to trade at a success rate up to 90% under the right market conditions. On average, BitIQ claims a daily return on investment of 25%.

BitIQ is designed to be usable by both crypto beginners and advanced traders alike, according to the creators. Beginners can take a hands-off approach, while more experienced users can dive into the platform’s settings to customize how it trades under different market conditions.

You can start using BitIQ for free. The platform doesn’t charge account fees, and the only cost is a 2% commission on profits. If your account doesn’t make a profit, the website says you don’t pay anything. You must make a $250 deposit to get started with BitIQ.

We couldn’t verify all the claims made on the platforms website, so bear in mind there’s a risk you may lose your money if you choose to use to trade crypto.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does BitIQ Work?

BitIQ’s trading system is built around an AI algorithm. The algorithm scans the crypto markets looking for price patterns that it has seen in the past. Once it finds a price pattern it recognizes, the algorithm continues monitoring it until there is a defined trigger to buy cryptocurrency.

Once a trigger is met, the algorithm uses money in your trading account to enter a trade. The algorithm then follows the trade progression until an exit signal is identified. At that point, BitIQ’s algorithm will automatically close out your position and return any funds, including profits, to your trading account.

Importantly, BitIQ is just a trading system, not a brokerage. Your trading account is held by a  crypto broker that works with BitIQ, so bear this in mind.

On What Devices Can I Use BitIQ?

There is no dedicated BitIQ app but account holders can access the platform via a web browser. That includes on mobile devices, PCs and tablets.

How to Withdraw Money from BitIQ?

BitIQ funds are not held by the bot but instead by the broker that you are partnered with. To withdraw, follow these steps:

• Visit the broker platform and sign into your trading account
• Select withdraw funds and choose the currency you wish to receive
• Enter the withdrawal amount and confirm the transaction
• The process should only take a maximum of 24 hours to complete

BitIQ withdrawals are not completed in crypto tokens but instead in fiat currency, be sure to select the correct currency you wish to receive.

BitIQ Pros & Cons

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

BitIQ Key Features

Let’s take a look at some of the key features of this trading platform as part of our BitIQ review:

14 Supported Cryptocurrencies

One of the features that differentiates BitIQ from other crypto trading robots is that it doesn’t just trade Bitcoin. In fact, this robot is capable of making trades across 14 different cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Bitcoin Gold, ZCash, Dash, Ethereum Classic, Cardano, IOTA, EOS, NEO, Binance Coin, and Ripple.

Each of these cryptocurrencies can be traded against USD, GBP, EUR, and other fiat currencies, as well as against each other. So, BitIQ has dozens of different markets to trade. That ensures that there’s always a trading opportunity for the algorithm to pursue.

Claimed 90% Win Rate

BitIQ claims that its algorithm can achieve a success rate of up to 90% under the right market conditions. That means that out of every 10 trades the algorithm opens, 9 are supposedly closed for a profit. It claims that stop losses and conservative algorithm parameters ensure that losses are relatively small on trades that don’t pan out.

BitIQ claims that, on average, traders see a 25% return on investment every day that they use the platform. However, we could not verify these claims, so if you proceed with BitIQ, you will be doing so at your own risk.

Demo Trading

BitIQ offers a demo trading mode so that you can try out the platform without risking real money. This is great when you’re just starting out, but it’s also important for getting the most out of BitIQ.

That’s because you can use the demo trading mode to play with the algorithm’s settings and find out what combination of settings works best.

Fast Withdrawals

BitIQ and its partner brokers are able to handle withdrawals quickly. The platform says that most withdrawals are delivered to your bank account within 24 hours of your request.

BitIQ Fees

BitIQ only charges a fee if your account is profitable. Profitable traders pay a 2% commission on their trades. Traders who haven’t yet turned a profit in their account don’t pay anything. BitIQ doesn’t have any account or deposit or withdrawal fees.

Importantly, BitIQ’s partner brokers may charge additional trading fees, inactivity fees, or withdrawal fees. These fees vary from broker to broker and the money does not go to BitIQ.

Here’s a review of all the fees at BitIQ:

How Much Profit can be Made from BitIQ?

BitIQ is a trading bot that automatically executes trades based on data it receives from the markets. It remains best practice to monitor the activity to best manage your holdings.

While BitIQ claims a 90% win rate and a 25% daily return on investment, we could not verify these claims. Furthermore, losses are inevitable and beginners should not invest more than they can afford to lose.

The BitIQ robot also deducts 2% of profits and investors will also need to report profits to the relevant tax authorities.

BitIQ Customer Support

BitIQ offers customer support by phone and email. You must have an active BitIQ account in order to access the support team’s contact details.

Bitcoin Evolution Celebrity Endorsements

There are numerous rumors and speculation on the web that BitIQ has been endorsed and supported by major celebrities and brands, especially Amazon.

However, our research has been unable to verify any links to major brands. What we’ve discovered is that neither Amazon, nor Elon Musk, have openly endorsed BitIQ. Furthermore, there have also been no endorsements from Bill Gates, nor Martin Lewis.

Which Exchanges and Brokers is BitIQ Partnered With?

BitIQ does not provide information about which brokers it is partnered with until an account is created. The trading platform is allowed in any location where CFD trading is allowed.

We were unable to verify which brokers are regulated so it is best to contact that broker directly – it is also advisable not to trade with unregulated brokers.

Can I use BitIQ My Country?

BitIQ is only legal in countries where cryptocurrency and CFD trading is allowed. See the table below for some select countries:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

Is BitIQ a Scam?

One of the questions we set out to answer with our BitIQ review was, is BitIQ a scam? Ultimately, we could not verify whether BitIQ’s claims are totally legit.

In terms of costs, it claims there are no fees unless your account turns a profit. Even then, a 2% commission is in line with what other major crypto trading robots charge.

Second, BitIQ claims to only works with trusted brokers, but again we could not verify this. BitIQ says it makes it very easy to get your money back if you’re not satisfied with the platform. Withdrawals supposedly take less than 24 hours and there are no withdrawal fees.

The BitIQ TrustPilot page – which collects customer peer reviews from the UK, is extremely negative with all 28 reviews currently on the start offering only 1-star reviews.

Customers have described BitIQ as an “out and out” and “total” scam and have also complained about being bombarded with phone calls after signing up or after trying to close membership.

Social media sites such as Reddit and Twitter do have posts related to BitIQ, but they have very little interaction and appear more like adverts than legitimate posts.

If you do want to try BitIQ, we recommend doing your research and definitely using the demo account before using real money.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

The Verdict

Concluding out BitIQ review, we explored the platform’s bold promises of automated success and profitability. However, the lack of verifiable evidence suggest caution. We urge users to conduct their own research and exercise due diligence before using this Bitcoin robot.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

Frequently Asked Questions on BitIQ