Is Immediate Bitwave a Safe Broker or a Scam?

A few days ago, I stumbled upon tens of posts from investors asking whether Immediate Bitwave is real or fake. That made me curious, and I decided to investigate. I researched this service provider and signed up on its site to get a clear picture of what it offers. What I discovered can be summarised in one sentence: Immediate Bitwave is a scam.

I’ve discussed what I discovered and why I believe this is a scam in this comprehensive Immediate Bitwave Review. Read it carefully before risking your money.

Immediate Bitwave is a Scam: Why?

After exploring and testing Immediate Bitwave, I’m beyond convinced this is a scam site. The first thing I discovered is that, despite claiming to be reputable, it’s not regulated by any authority, and the same applies to its affiliated brokers. I consider this an enormous issue we can’t gloss over, so we’ll discuss it in the next section.

Here are other red flags that caught my attention:

1. Fake promises

Immediate Bitwave claims to be dedicated to connecting individuals who want to learn about investing with reputable investment education firms. But that is misleading and 100% untrue. I signed up but was never connected to service providers offering educational resources. Surprisingly, Immediate Bitwave shared my contact details with shoddy representatives of “reputable brokers”. Many of the individuals who contacted me were not affiliated with the brands they claimed to work for. The rest were marketing unregulated offshore brokers with a poor reputation.

2. Countless complaints

If you perform a simple search now, you’ll come across many complaints from Immediate Bitwave’s past users. I came across lots of negative reviews and concerns, with many complaining about withheld withdrawals. Apparently, the brokers that this site connects people with use shoddy excuses to prevent users from withdrawing their money. The most common seems to relate to the detection of abnormal trading activity, which, according to the associated brokers, warrants permanent account restriction with no possibility of reactivation.

3. No ownership information

The “About Immediate Bitwave” website section is supposed to have ownership information, among other aspects. But nothing of substance is displayed here. There’s no company registration number, physical office address, team information, or any other verifiable details. The company only claims it was “created by a team of professionals”. My professional opinion is that there’s no verifiable information because the entities behind it don’t want to be held accountable for their crimes.

4. Questionable disclaimer

Immediate Bitwave’s disclaimer, which pops up as soon as you get to the homepage, left me with more questions than answers. First, it says that you will be connected to a service provider that may propose generic information after registering. Why is the company linking its users to unknown entities that are likely to provide generic information instead of info related to educational content? After all, the site clearly states that Immediate Bitwave is dedicated to investment education. To make matters worse, the disclaimer says that this company doesn’t check its affiliate partners’ regulatory status, which, in my opinion, means negligence towards user safety.

5. Pushy onboarding calls

I got called by a shoddy individual claiming to be a wealth manager a few minutes after signing up on Immediate Bitwave. He asked me to sign up with a trading firm I’ve never heard of and deposit $250, promising I’d enjoy guaranteed daily profits. I politely declined the offer and hung up. He kept calling until I blocked his number. But that didn’t stop whoever was trying to scam me. I received calls from many other international numbers. Some were friendly and flirty; others were persistent and aggressive. The experience was harrowing and a major red flag.

Immediate Bitwave Regulation

Immediate Bitwave is not regulated by authoritative bodies like the FCA. Plus, most brokers that the site shares your information with are unregulated. That’s double trouble and something that should make you extremely wary. I’m sure Immediate Bitwave claims it’s just an investor education platform to avoid regulation. And the brokers it links its clients with are unregulated because their target is ripping off unwary investors.

Something else increased my suspicion. While researching this service provider, I came across several trading platforms with the same name. I believe they are all affiliated with this “educational site”. What caught my attention the most was the Immediate Bitwave brokers I discovered have been flagged by multiple authorities, including the Canadian Securities Administrators (CSA) and Autorité des marchés financiers (AMF).

How to Get Your Money Back After a Scam

Suppose you’ve already fallen for the Immediate Bitwave scam and lost money. If this happened a short while ago, the good news is that you can get your money back and help other people avoid the same trap. Here’s what you need to do:

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How to Detect a Scam Broker?

Here are the most common tell-tale signs of a scam broker:

• Lack of regulation: A lack of regulation is the most significant indicator of a scam broker. Shoddy service providers are not authorised or regulated by authorities like the FCA.
• Unrealistic promises: Scammy brokers use unrealistic promises like “zero risk” and “high returns” to lure in their victims.
• Sub-par or non-existent support: All credible brokers offer excellent customer support. Shoddy providers don’t invest in quality support services.
• Ambiguous T&Cs: Read all the broker’s terms and conditions. One of the indicators of a shoddy service provider is vague or unclear Ts and Cs.
• Negative reviews: Scam brokers have bad reviews because they expose their users to various issues, from unjustifiably withheld withdrawals to manipulated prices.

These are but a few factors that can help you identify unscrupulous brokers. Others include aggressive sales tactics, requests for ultra-sensitive information like credit card details, and poorly designed websites.

I’ll conclude with a warning: be wary of the so-called “recovery agents”. Scammers also run recovery agents that ask victims of scams to pay an upfront fee while promising guaranteed refunds. If you choose to use a recovery agent, find a service provider with verifiable credentials, a solid track record, and reasonable charges. Otherwise, you’ll go from asking, “Is Immediate Bitwave a scam?” to “How can I recover money lost to a dubious recovery firm?”