BITAWELS is not authorised by the FCA and is therefore not regulated or recommended for use by UK residents for trading. The FCA first issued a warning against BITAWELS on 19/06/2024, stating that “This firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of potential scams.”
Unauthorised firm details
- Name: BITAWELS www.bitawels.com
- Email: support@bitawels.com
- Website: www.bitawels.com
To check if a firm is authorised by the Financial Conduct Authority, you can:
Customer Reviews
Customer reviews have been turned off for this provider as they are not regulated by the FCA and are not allowed to provide financial services to UK customers.
Alternatives
You can find an alternative provider that is regulated by the FCA in the UK in our comparison tables, where you can also see our opinion and customer reviews from our annual awards.
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Money Transfers
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The Importance of FCA Authorisation & Regulation
All firms offering financial services in the UK are required to be regulated by the FCA which is crucial in the UK for protecting consumers, ensuring financial market integrity, and promoting financial stability.
The FCA helps prevent mis-selling, enforces laws against market abuse, and supports innovation while fostering competition.
By setting and enforcing high standards, the Financial Conduct Authority maintains confidence and transparency in financial markets and protects clients’ money if a firm goes bust with the FSCS.
Worried About Financial Scams?
We have produced lots of guides about how to avoid financial scams in the UK. You can read a selection of them below.
If you think you have been a victim of a financial scam you should report it to the FCA here.
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Copy Trading: Scam or Legitimate Investment Opportunity?
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FCA Warns on Investment Clones and Issues 29 Warnings in 7 days
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Recovery Room Scams: The Dangers of Trusting Fake Reviews
Scammers are smart and dedicated to getting their hands on your cash. Trading loss expert reviews scams are a particular danger to investors – and
FCA finally flexing and fining Finfluencers for promoting scams
The FCA has finally done something about trading scams being promoted on Instagram. Emmanuel Nwanze who controlled the @holly_fxtrends Instagram account along with Holly Thompson
Pension Scams: How To Spot, Avoid and Report Them
Millions of Britons are still at risk of losing their retirement savings to fraudsters and pension scams with, reports of pension scams increased 45%, and
How To Spot and Avoid Investment Scams
We recently revealed from official police data that over £75m has been lost by UK investors to social media scams in one year. Find out
UK Investors Lose £75 Million To Financial Scams On Social Media
We submitted a Freedom of Information request to the police and action fraud to find out the true losses of how bad reported investing and
Another blow for cryptocurrency as Chase Bank UK bans crypto payments because of scams
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Are BTC (Bitcoin) Telegram Signal Bots Ads a Scam?
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CFD Scams – What are they and how to spot them
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Which forex brokers offer a welcome bonus and won’t scam me?
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Bond Scams: The rise of fixed income scams and how to avoid them
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How To Spot & Avoid Investment ISA Scams
If you’re worried that an investment ISA may be too good to true here’s our guide to spotting ISA scams Investment ISAs that advertise eye-catching
A list of FCA-regulated brokers that offer alternative services are below:
| Trading Platform | Markets | CFDs | Spreads | Futures | Options | DMA | Customer Reviews | More Info |
|---|---|---|---|---|---|---|---|---|
 | 13,500 | ✔️ | ✔️ | ❌ | ✔️ | ❌ | (Based on 124 reviews)
| See Platform 71% of retail investor accounts lose money |
 | 5,000 | ✔️ | ❌ | ❌ | ✔️ | ❌ | (Based on 16 reviews)
| See Platform 76% of retail investor accounts lose money |
 | 1,200 | ✔️ | ✔️ | ❌ | ❌ | ❌ | (Based on 86 reviews)
| See Platform 75.3% of retail investor accounts lose money |
 | 2,000 | ✔️ | ❌ | ✔️ | ❌ | ❌ | (Based on 144 reviews)
| See Platform* 80% of retail investor accounts lose money |
 | 10,000 | ✔️ | ✔️ | ❌ | ✔️ | ❌ | (Based on 257 reviews)
| See Platform 64% of retail investor accounts lose money |
 | 17,000 | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | (Based on 678 reviews)
| See Platform 71% of retail investor accounts lose money |
 | 12,000 | ✔️ | ✔️ | ❌ | ✔️ | ❌ | (Based on 148 reviews)
| See Platform 70% of retail investor accounts lose money |
 | 9,000 | ✔️ | ❌ | ✔️ | ✔️ | ✔️ | (Based on 73 reviews)
| See Platform 65% of retail investor accounts lose money |
 | 7,000 | ✔️ | ❌ | ✔️ | ✔️ | ✔️ | (Based on 934 reviews)
| See Platform 60% of retail investor accounts lose money |
 | 2,967 | ✔️ | ❌ | ❌ | ❌ | ❌ | (Based on 277 reviews)
| See Platform 61% of retail investor accounts lose money |
 | 2,100 | ✔️ | ❌ | ❌ | ❌ | ❌ | (Based on 136 reviews)
| See Platform 75% of retail investor accounts lose money |
