Review of Bit Index AI
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Bit Index AI is an automated trading platform that lets you trade crypto assets automatically and with leverage. According to Bit Index AI’s website, it was developed during 2017 when crypto markets were on the rise, but we could not find any evidence of when the trading software was first created. Additionally, we couldn’t find any information on who designed the software that powers the trading robot.
The Bit Index AI website claims the platform has a success rate of 85% – however, this is very hard to believe despite the user testimonials on the site. In this Bit Index AI review, we check the verification of such bold claims and investigate whether Bit Index AI is a reliable service.
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
Pros & Cons
What is Bit Index AI and what can I do with it?
Bit Index AI is an online trading platform that facilitates the automated trading of cryptocurrencies like Bitcoin and Ethereum. It uses Artificial Intelligence (AI) and machine learning (ML) technology to scan the crypto markets and find trading signals. It analyses market data, including historical charts, patterns, and the latest news.
On top of this, Bit Index AI also has manual trading options for skilled traders. You can trade by specifying the parameters you would like the robot to use when trading (e.g. place an order to buy Bitcoin when it falls to a certain price). The trading software then scans the markets for crypto trading opportunities and automatically opens or closes a trade accordingly.
How does Bit Index AI work?
Bit Index AI is a piece of automated trading software that partners with brokers to execute digital currency trades. It calculates trading signals using advanced technology and then uses an API to transmit this data to the brokers. The broker then executes the order given by Bit Index AI.
Bit Index AI – key questions, answered
Which brokers can I use with Bit Index AI?
Bit Index AI partners with licensed brokers and exchanges that offer margin trading in crypto assets. The platforms are compliant with relevant regulations and also follow KYC and AML guidelines. The website doesn’t specify exactly which brokers Bit Index AI uses.
What cryptocurrencies are supported on Bit Index AI?
Bit Index AI offers automated trading in crypto coins including:
Can I use Bit Index AI on mobile and desktop?
Yes. It is possible to use Bit Index AI on any operating system including Windows, Mac, and Linux. There is also a Bit Index AI app that is available on both iOS and Android devices. This means you can use Bit Index AI on:
Can I trade assets with leverage?
Yes. Bit Index AI uses brokers that offer leveraged crypto trading. Bit Index AI claims that traders can expect leverage of 4000:1, meaning you can trade up to 4000 times your initial investment amount.
It is advisable to take precautions while using leverage, however. Crypto markets are highly volatile, and even a small difference in price can result in potentially huge losses if you use leverage. It’s better to start with small amounts and gradually build your crypto portfolio.
Can I open long and short positions with Bit Index AI?
Yes. You can open long and short positions using Bit Index AI’s automated trading software.
In trading, a long position basically refers to a trader’s bet that the price of an asset will move up. In contrast, a short position refers to a trader’s bet that the price of an asset will move down.
What are the payment methods and withdrawal/deposit limits?
To start using Bit Index AI, you first need to make a minimum deposit of $250 through its trading dashboard. The available payment methods include credit/debit cards, Visa, Mastercard, Neteller, wire transfer, and Skrill.
Bit Index AI does not place any limits on withdrawals on the minimum amount or time duration. A user can request withdrawals without any restrictions and the amount is credited into the trader’s bank account in between 24 and 48 hours.
Are there any costs and fees involved?
There are no fees to sign up. Setting up an account with the Bit Index AI trading software is completely free. However, you may be charged a trading fee or commission for every trade you place.
How do I get paid? What about payouts?
To request a payout on Bit Index AI, simply fill out the withdrawal form available on the left side of the control panel of the trading dashboard. There are no limits to withdrawal amounts, and you can take payouts on a daily basis if you would like.
You must provide your banking details and complete the KYC process before initiating a withdrawal, and the process can take up to 48 hours.
What is the registration and verification process?
It is simple to become a verified member of Bit Index AI. The process takes only a few minutes. You have to fill out your name, email, and contact number on the sign up form available on Bit Index AI’s homepage to get started. You then complete the verification process by clicking the link in the email they send you.
After verification, you can begin to access the Bit Index AI trading software through the broker assigned to you. At the time of registration, you are not asked to submit any documentation of identification or proof of address, but you will need to provide these details before starting to trade on Bit Index AI website.
What is their customer service like?
Prior to registering on Bit Index AI, you can contact their customer service through a contact form that is available on the platform’s official website. After you are a verified member, you can access their customer service through email and live chat options. That said, we could not get any reply when contacted through its contact form.
Bit Index AI key features
Trade with leverage up to 1000:1
Leverage allows you to make much bigger crypto trades than would be possible if you could only use your own money. Bit Index AI offers extremely high amounts of leverage, up to 1000:1. This leverage is available on any asset that’s supported by the Bit Index AI trading robot, so you can use it on crypto, forex, stocks, and more.
Use CySEC-licensed brokers
The Bit Index AI trading bot partners with brokers that are licensed by CySEC (the Cyprus Securities and Exchange Commission). This license means that you can be confident that your money is safe with these brokers and offers an extra layer of security to protect you.
Trade multiple cryptocurrencies and popular currency pairs
Along with cryptocurrencies like Bitcoin and Ethereum, the Bit Index AI trading platform lets you trade forex pairs as well. You can trade all the major currency pairs along with some unusual ones, such as:
- EUR/TRY – Euro/Turkish Lira
- USD/SEK – US Dollar/Swedish Krona
- USD/NOK – US Dollar/Norwegian Krone
Dedicated account managers
When you set up a Bit Index AI account, you’re assigned a dedicated personal account manager. This account manager helps you set up Bit Index AI and is on hand to answer any questions you may have. What’s more, your dedicated account manager is on hand 24/7 as a support line.
Bit Index AI free demo account
The Bit Index AI bot lets you try before you buy with a free demo account. The demo account allows you to practice using the Bit Index AI trading platform before you deposit any money. Just speak to your dedicated account manager in order to set it up.
Is Bit Index AI legit?
Bit Index AI offers automated trading software that you can use in the crypto markets. The trading software offers signals based on studying crypto market data, but it does not offer an ROI of up to 60% as claimed by its website. Bit Index AI also has testimonials that appear similar to other automated trading platforms.
Bit Index AI also makes various claims of people using the trading software to buy luxury goods but these statements and videos are highly dubious and hard to believe.
Experts can use Bit Index AI as part of their trading strategies, but it should not be used as the only tool someone uses to trade in digital currencies. Do your research before using the services of trading software like Bit Index AI.
Has Bit Index AI been recommended by celebrities or appeared on TV?
We came across various sources that stated Bit Index AI has been used by celebrity figures. Upon conducting our analysis on these claims, we found that none of the leading names mentioned has used Bit Index AI or endorsed it.
To help you find accurate information, we have carried out fact checks on three claims we repeatedly came across online.
Is it true that Jeff Bezos endorsed Bit Index AI?
No, Jeff Bezos has neither recommended nor ever endorsed the Bit Index AI platform. Jeff Bezos is the CEO of the multinational technology company Amazon and one of the richest men in the world.
Fact check: False. Our team could not find any evidence that Jeff Bezos is affiliated in any way to Bit Index AI.
Is it true that Ant McPartlin uses the Bit Index AI website?
A number of sources claim that Ant McPartlin uses Bit Index AI. But this is not true. Ant McPartlin is a British television presenter, TV producer, comedian, and actor who has starred in various television series.
Fact check: False. Ant McPartlin does not use the Bit Index AI website and/or any other cryptocurrency trading software.
Has Shark Tank recommended Bit Index AI?
Bit Index AI has never been featured on the TV show Shark Tank. Shark Tank is an American business reality television series that shows entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
Fact check: False. Bit Index AI has never featured or been mentioned on Shark Tank or any other US television show.
Was Bit Index AI featured on Dragon’s Den?
No, Bit Index AI has never been on Dragon’s Den or any other reality TV show. Dragon’s Den is a UK version of Shark Tank, where entrepreneurs pitch their business ideas to a panel of investors.
Fact check: False. Neither Dragon’s Den nor any of the ‘Dragons’, such as Deborah Meaden, have ever endorsed Bit Index AI.
How to trade with Bit Index AI
To make trades with Bit Index AI, you need to sign up through its official website and then create an account with one of its partner brokers. From deposits to withdrawals, all operations are carried out through the broker’s trading dashboard, rather than through Bit Index AI.
You can view your trades, manage your account, set parameters, deposit, and request for withdrawals from the control panel of Bit Index AI. Here is a quick guide to trading with Bit Index AI.
How to open an account with Bit Index AI
- Step 1: Registration. The first step is to become a member of Bit Index AI. For registration, you can fill in all the details on the form available on the right side of the home page, such as your name, email, and phone number. The process is fairly simple and you are not required to submit ID at this stage.
- Step 2: Deposit funds. Make a minimum deposit of $250 to use the Bit Index AI trading software. You can also choose to use the demo feature and familiarise yourself with the platform. Please note that you will be asked to complete verification steps before being able to place trades on the broker’s platform.
- Step 3: Trade. If you have enabled autotrading, the trading software will automatically start finding trading opportunities. In manual trading, you have to set parameters for entry or exit of a trade before the technology starts to work.
Our top robot trading tips for beginners
When you use automated trading software to trade the crypto markets, there are a number of factors that you need to be aware of. Here are a list of steps to follow before you start using Bit Index AI.
- Familiarise yourself with trading. A beginner needs to familiarise themselves with how trading works before investing any money. You need to understand the risk factors, volatility, and security of crypto assets before you trade.
- Understand cryptocurrency space. Crypto markets are susceptible to volatility, and the best way to improve your chances of success is to learn more about cryptocurrency before signing up to Bit Index AI.
- Practice with a demo account. It is always advisable to practice using a demo account before risking your money. This gives you a fair idea of Bit Index AI’s trading interface and cryptocurrency trading in general before starting out.
- Start small and build gradually. Always start small and gradually build your portfolio. The best investment strategies are always those that look to the long term.
- Only invest what you can afford to lose. Bit Index AI’s official website states that you can generate a return of 1000% on your investments through its trading software. However, it’s best to be careful with claims like this. Plan to invest for the long term and only invest what you can afford to lose.
Bit Index AI is an automated trading robot that suggests trades for the crypto markets. The trading software scans the market, and supplies trading signals but does not predict trades at a 98% accuracy rate, despite what Bit Index AI claims. The statements of celebrities joining or endorsing Bit Index AI are marketing techniques to falsely promote this trading software and are similarly untrue.
Expert traders can use Bit Index AI to set manual parameters and develop a trading strategy for the trading platform to execute, and this is probably its most effective use. Since cryptocurrency markets run 24/7, users can make sure they never miss an opportunity just because they’re away from their computer or phone.
However the bold claims of investors receiving 60% ROI and $800 profits daily from using Bit Index AI are speculative and highly unlikely to be true. Even the most experienced traders do not earn fast money while trading in digital assets. Beginners should not solely rely upon the Bit Index AI trading platform to trade crypto, and you should always conduct your own research in addition to using the service.
Methodology: how we reviewed Bit Index AI
Each time we review a crypto trading platform we perform a series of basic actions in order to test the service. They include; going through the registration process, making an initial deposit of $250, and setting up the trading robot.
In addition we searched online for Bit Index AI reviews and tested the customer support function. We tried altering the trading strategy and risk parameters, and made a withdrawal to test how fast we got our money.
In the end, all of these factors taken together formed our final Bit Index AI verdict. This is a completely independent review and no platform can influence their rating in any way. However, we may earn a commission if you sign up using any of the links on this page. More information is available in our guide to how we make money.
Bit Index AI does provide services for trading in crypto markets, but your profits will not be anywhere near the scale it claims. Similar testimonials to those on Bit Index AI can be found on other robot platforms as well, implying a lack of authenticity from this platform.
Bit Index AI cannot generate a consistent ROI of 60% for its users. While users have taken advantage of its services and benefitted, it is not used by famous celebrities or prominent personalities.
Registering and opening an account on Bit Index AI is simple and can be done in a few steps. You do not have to submit any identification proofs to use the services of the robot – but users may be required to comply with KYC guidelines before starting to place trades on one of its partnered brokers. Also, its services are limited to some jurisdictions and not available in all countries.
No, withdrawals are available only in fiat currencies on Bit Index AI.
Bit Index AI does not provide financial gains on the scale suggested on its website. Furthermore, it uses unethical marketing practices to showcase its features including showing a fake video with leading names endorsing Bitcoin.
Additionally, the official platform lacks authenticity as various websites assert the exact same services with a different interface. The official website also holds vague information pertaining to the team and founders behind the Bit Index AI trading platform.
With respect to automating trades using advanced algorithm software in digital currencies, yes, but you cannot generate $800 daily through Bit Index AI. The robot has partnered with brokers that support the trading of crypto CFDs, and it links to these via an API to place trades automatically for its users.
Its official website states that Bit Index AI is free to use. However, this may not be true once you consider fees applied by partnered brokers. Traders will be required to pay certain charges or fees depending on which trading platform is used to place the trades as instructed by the robot.
To delete your Bit Index AI account, please ensure that your funds are credited into your bank first. For this, you have to submit a request for withdrawal from your trading dashboard. After you receive your capital, you have to now delete your account from broker’s and robot’s platforms by emailing the customer support of each service.
It is unclear who owns and operates Bit Index AI. Its official website does not mention any names on the team or the founders behind it. Also, there are numerous claims on other sources that the website was developed by a team of financial experts, but we could not find any evidence to back up these claims.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >