Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalNo licence in force anywhere: the legacy Lithuanian registration lapsed with that regime and its holder is in liquidation, the trading counterparty is an unlicensed St Vincent company, and HANFA has declared the operation illegal in Croatia.
Identity & transparency
7/10 · HighEntities, numbers and addresses are disclosed clearly, which is credited, but the money-holding counterparty was moved offshore, the EU site no longer resolves, a UK telephone number fronts the operation and clients report staff refusing to give an address or landline.
Withdrawals & conduct
7/10 · HighA consistent fund-integrity pattern over three years with specific amounts up to 80,000 euros, tempered by documented successful payouts, public company responses and the fact that the detailed accounts sit on one review platform.
Reputation
8/10 · CriticalA regulator warning naming the entity, 26 percent one-star reviews describing the same mechanic, and a rating withheld by Trustpilot for a guidelines breach after fake reviews were removed.
Website claims
9/10 · CriticalMarkets itself as a licensed and EU-regulated exchange with EU passporting rights while the Lithuanian holder is in liquidation, the regime has closed, no MiCA authorisation exists and all trading is contracted through an unregulated St Vincent company.
Operational history
6/10 · HighAbout four and a half years of verified brand history is undercut by real entity churn: the EU company is being liquidated, its website is gone and the contracting entity was only registered in 2025.
Who they are
A quick desk file on the company behind the brand.
- Brand: BITmarkets, trading at bitmarkets.com
- Legal entity that takes your money: Unicorn Technologies Limited, registration 27217 BC 2025, Saint Vincent and the Grenadines. It provides spot trading, margin, futures and BTMT Earn, and it is the publisher of the BITmarkets mobile app.
- Former European entity: UAB BITmarkets, company code 306062346, Lithuania. Incorporated 11 April 2022 and recorded as in liquidation since 25 June 2026 in the Lithuanian Register of Legal Entities.
- Registered: Euro House, Richmond Hill Road, P.O. Box 2897, Kingstown, VC0100, Saint Vincent and the Grenadines. The Lithuanian entity is registered at Vilkpedes g. 22, Vilnius.
- Website: bitmarkets.com. The European site bitmarkets.eu no longer resolves, and bitmarkets.cc, listed on our own record, does not resolve either.
- Only licence: none in force. A legacy Lithuanian virtual-currency exchange and custodial wallet registration, supervised for anti-money-laundering purposes only, lapsed with that regime on 1 January 2026.
- Offers: spot, margin and futures crypto trading, peer-to-peer trading, an in-house BTMT token, BTMT Earn and what it markets as AI wealth management. Over 200 coins and more than 10,000 app installs.
- Protection: none. No regulator supervises the company that holds client funds, and there is no compensation scheme or ombudsman behind it.
- Age: the oldest company behind the brand dates to April 2022. The company that now contracts with clients was registered in 2025. The bitmarkets.com domain dates to 2010 but sat parked until 2019 and carried no BITmarkets content before then.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Financial Crime Investigation Service (FCIS), Lithuania
Financial Services Authority, Saint Vincent and the Grenadines
Why we reached this verdict
How the evidence adds up.
Four findings carry this verdict, and the first is the strongest kind of evidence available.
- A regulator has ruled on this entity by name. On 5 April 2024 the Croatian Financial Services Supervisory Agency warned the public about UAB BITmarkets, stating that it advertises in Croatian media and social networks, that its representatives urge citizens to use its trading platform and buy its BTMT token, that it never applied for authorisation in Croatia despite earlier warnings, and that its operations are therefore considered illegal. The notice names the Lithuanian registration and the BTMT token, so there is no doubt it concerns this operation.
- The European arm is being wound up while still being advertised. The Lithuanian Register of Legal Entities records the sole shareholder's liquidation decision of 1 June 2026 and the registration of the status in liquidation on 25 June 2026. BITmarkets' own published material still presents UAB BITmarkets as an authorised provider of virtual-currency exchange and wallet services with passporting rights across several EU countries. A legacy Lithuanian registration never conferred passporting rights, Lithuania closed that regime to continuing business on 1 January 2026, and BITmarkets does not appear among the firms authorised under MiCA on ESMA's register of crypto-asset service providers.
- All trading now sits in an unlicensed offshore company. BITmarkets' own licence and regulation disclosure assigns spot trading, margin, futures and BTMT Earn to Unicorn Technologies Limited in Saint Vincent and the Grenadines, and the Google Play listing confirms that company publishes the app. The St Vincent regulator published a notice on 29 April 2026 stating that no entity is registered, licensed or authorised by it to operate as a virtual-asset service provider, and that any firm suggesting otherwise is making a false and misleading representation. A St Vincent business company number is a corporate registration. It is not financial regulation and it gives a client nothing.
- Clients describe an outbound sales desk running their accounts. Across Trustpilot, users in Slovakia, Croatia, Greece, Austria, the United Kingdom, Australia, Romania, Ukraine and the Czech Republic report the same sequence from October 2023 to October 2026: small early wins, then managers who dictate pairs, position sizes and targets, a new manager each time a client refuses to top up, pressure to reach a 50,000 euro balance, and one account pushed toward pension savings and a bank loan. Withdrawals are then stalled, questioned by telephone or refused. The regulator's own description of representatives telephoning citizens to push the platform and its token corroborates that sales mechanic from an independent, official source.
Two things hold the verdict at likely rather than confirmed. No regulator or court has made a finding of fraud against this entity, and the Croatian warning concerns authorisation rather than deception. Some clients also plainly do get paid: one reviewer recovered the full balance after complaining, and other complaints concern slow manual payouts rather than refusals. The detailed first-hand accounts are also concentrated on a single review platform, so the pattern is consistent and specific but not independently corroborated across sources.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Croatian Financial Services Supervisory Agency warned the public on 5 April 2024 that UAB BITmarkets operates in Croatia without its authorisation and notification, that the company advertises in Croatian media and social networks and urges citizens to use its platform and buy its BTMT token, that it did not apply for authorisation despite earlier warnings, and that its operations are therefore considered illegal.
E2The Lithuanian Register of Legal Entities holds, for UAB BITmarkets code 306062346, a sole shareholder decision on liquidation dated 1 June 2026 and an application to register the legal status in liquidation, registered on 25 June 2026. The same file shows the original virtual-currency exchange and custodial wallet operator notification filed in July 2022.
E3The corporate record for UAB BITmarkets, code 306062346, gives an incorporation date of 11 April 2022, a registered address at Vilkpedes g. 22, Vilnius effective from 31 March 2026, and a current legal status of under liquidation from 25 June 2026.
ModerateLursoft company register dataE4The BITmarkets consumer app is published by Unicorn Technologies Limited and directs users to bitmarkets.com. The listing advertises spot, margin, futures and peer-to-peer trading, AI-powered wealth management and BTMT Earn, with more than 10,000 installs and a last update of 27 July 2026. This confirms the St Vincent company, not the Lithuanian one, runs the client-facing service.
E5The St Vincent and the Grenadines Financial Services Authority stated on 29 April 2026 that as at the date of the notice no entity is registered, licensed or authorised by it to operate as a virtual-asset service provider, and that any entity claiming to be licensed, registered, approved or regulated there for virtual-asset activities is making a false and misleading representation.
E6Trustpilot has withheld the company star rating for bitmarkets.com because of a breach of its guidelines and states that it removed a number of fake reviews for the company. The 109 remaining reviews run 49 percent five-star, 6 percent four-star, 16 percent three-star, 3 percent two-star and 26 percent one-star, and the listed contact details tie the page to bitmarkets.com and a Vilnius address.
E7One-star reviews from October 2023 to October 2026 describe the same mechanic from clients in Slovakia, Croatia, Greece, Austria, the United Kingdom, Australia, Romania, Ukraine and the Czech Republic: managers who dictate pairs, position sizes and targets, a replacement manager each time a client refuses to top up, encouragement to use pension savings or a bank loan, a stated preference for clients holding 50,000 euros or more, and withdrawals that are stalled, questioned by telephone or never allowed. Specific losses include 80,000 euros, 10,000 euros followed by a further 6,500 euros, about 4,000 US dollars on a token conversion, and coin holdings frozen against both trading and withdrawal.
E8BITmarkets does not appear under any name containing BITmarkets or Unicorn in ESMA's register of crypto-asset service providers authorised under MiCA, which is the register that replaced national virtual-currency regimes across the EU.
E9The bitmarkets.com domain was registered on 25 March 2010, was last changed on 25 January 2026 and sits on Cloudflare nameservers through the registrar 101domain GRS Limited. The registration date predates the operation by more than a decade.
E10Archived captures of bitmarkets.com from 2015, 2016 and 2018 redirect to a domain-parking monetisation page rather than any trading or company content, so the 2010 registration date carries no operating history for this business. The earliest certificate for the domain dates to August 2019 and the first exchange content appears in 2022.
E11Certificate transparency records for bitmarkets.com show the earliest certificate on 4 August 2019 and an infrastructure stack including app, my, crm, margin, collector and seminars subdomains first issued between July 2022 and May 2024, consistent with a platform built out from 2022 onward.
E12The UK Financial Conduct Authority warning published on 2 October 2026 against BitMarkets AI and BitMarkets Trading Group lists bitmarketslogin.com, bitmarkets.ai, bit-markets.com and client.bitmarketslogin.com, and a mobile number. It does not name bitmarkets.com, so that warning concerns a separate operation impersonating this brand and none of its findings are attributed to this exchange.
E13A sweep of the Slovak National Bank warning notices found no entry naming BITmarkets, UAB BITmarkets or bitmarkets.com, despite Slovakia being the country with the heaviest concentration of complaints. The company is likewise absent from the St Vincent regulator's investor alerts.
E14The operator's own public link hub lists its official channels on Instagram, Facebook, X, TikTok, YouTube, Discord, Telegram and LinkedIn, together with a BITmarkets Academy site and a BITsports account, confirming an active and openly branded marketing operation across eight platforms.
E15At least one client reports recovering the entire disputed balance after escalating a formal complaint, and several negative reviews concern payouts that completed after roughly ten to twelve hours of manual processing rather than payouts that were refused. The company replies publicly to complaints and directs clients to a compliance address.
The other side
The strongest case in this broker’s favour.
The case for BITmarkets, stated as fairly as we can put it.
- It is a real, working exchange. There is a live order book, more than 200 listed coins, a maintained mobile app last updated on 27 July 2026, over 10,000 installs and an industry award for customer service. This is not an empty shell with a fake price feed.
- It discloses its structure openly. The licence and regulation document names each entity, its registration number and its registered address, and states which company provides which service. Many offshore operators hide exactly this.
- Withdrawals are not universally blocked. One reviewer reports receiving the entire balance back after escalating a complaint, and several negative reviews concern payouts that took ten to twelve hours rather than payouts that never came. The company answers complaints publicly and invites clients to its compliance address.
- It never claimed St Vincent regulation. BITmarkets describes the St Vincent company as incorporated there, not licensed there, so it is not making the specific false claim the St Vincent regulator's notice targets.
- Look-alike sites are impersonating the brand. The UK Financial Conduct Authority warning published on 2 October 2026 against BitMarkets AI and BitMarkets Trading Group names bitmarketslogin.com, bitmarkets.ai and bit-markets.com. None of those is bitmarkets.com, so that warning belongs to a different operation, and the operator itself publishes a notice about websites misusing its identity. Some complaints found online may belong to the impersonators rather than to this exchange.
- Leaving Lithuania may be a restructuring rather than a retreat. Many European crypto firms wound up legacy entities when MiCA replaced national regimes. If BITmarkets is mid-way through relicensing, the liquidation would look worse than it is.
What stops these points from clearing the company: a regulator has still said its operations in an EU member state are illegal, the entity that now holds client money is supervised by nobody, and the marketing still describes the firm as licensed and EU-regulated when nothing currently supports that.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this verdict in either direction.
- Would improve it: BITmarkets appearing on ESMA's register of crypto-asset service providers authorised under MiCA, or on any tier-one or tier-two regulator's register, with the authorised entity being the one that actually contracts with clients.
- Would improve it: HANFA withdrawing its warning, or confirming that the company has since notified it and is authorised to operate in Croatia.
- Would improve it: the marketing being corrected so that it no longer describes the firm as licensed and EU-regulated while the only trading counterparty is an unregulated St Vincent company.
- Would improve it: independent, verifiable evidence of routine payouts at scale, such as a sustained run of confirmed withdrawals on platforms other than the company's own channels.
- Would worsen it: a warning naming bitmarkets.com itself, or any enforcement or court action against Unicorn Technologies Limited or UAB BITmarkets.
- Would worsen it: independent confirmation of the criminal complaints that a firm representing claimants says are under investigation in Slovakia. We could not corroborate that claim from any official or news source, and a self-interested claims representative is not evidence, so it carries no weight in this assessment.
- Would worsen it: a credible, specific report of a fee, tax or charge demanded before funds are released. Clients describe pressure to deposit more, which is close to that pattern, but we did not confirm an explicit payment-to-release demand.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
HANFA warning naming UAB BITmarkets (Croatia)
The Croatian regulator states the company operates in Croatia without authorisation.
Lithuanian Register of Legal Entities: UAB BITmarkets, code 306062346
Official filings, including registration of the status in liquidation on 25 June 2026.
St Vincent FSA notice on unauthorised virtual-asset providers
The regulator confirms no entity is authorised for virtual-asset business in St Vincent.
Trustpilot reviews for bitmarkets.com
Rating withheld for a guidelines breach; read the one-star reviews.
FCA warning on look-alike BitMarkets AI sites
A separate impersonating operation on different domains; check the address bar.
Corporate record for UAB BITmarkets
Incorporation date 11 April 2022 and current status under liquidation.
Frequently asked questions
Quick answers about this broker’s safety.
Is BITmarkets a scam?
We rate the likelihood at 78 percent and classify it as a likely scam. No regulator supervises the company that holds client money, Croatia's regulator has called its operations there illegal, and clients describe account managers who direct their trades, press for larger deposits and then stall withdrawals. It is a real working exchange, which is why we stop short of calling it confirmed, but we would not deposit with it.
Is BITmarkets a fraud?
No regulator or court has made a finding of fraud against BITmarkets, so we do not state that as fact. We do assess the risk of fraud as high. The Croatian supervisor HANFA described its operations in Croatia as illegal because it never obtained authorisation, and clients report losses on adviser-directed trades combined with withdrawals that were stalled or refused.
Is BITmarkets regulated?
Not any more. Its only ever credential was a Lithuanian virtual-currency exchange and custodial wallet registration held by UAB BITmarkets, code 306062346, which was an anti-money-laundering registration rather than a trading licence. Lithuania closed that regime to continuing business on 1 January 2026, the holding company went into liquidation on 25 June 2026, and BITmarkets does not appear on ESMA's register of firms authorised under MiCA.
Who actually holds my money at BITmarkets?
Unicorn Technologies Limited, a business company registered in Saint Vincent and the Grenadines under number 27217 BC 2025, at Euro House, Richmond Hill Road, Kingstown. BITmarkets' own licence disclosure assigns spot, margin, futures and BTMT Earn to that company, and it is also the publisher of the mobile app. It holds no financial licence.
Does a St Vincent registration protect me?
No. It is a company registration, not financial regulation. The St Vincent Financial Services Authority published a notice on 29 April 2026 confirming that no entity is registered, licensed or authorised by it to operate as a virtual-asset service provider, and that any firm claiming otherwise is making a false and misleading representation.
Can I withdraw my money from BITmarkets?
Some clients can and some cannot. Several reviewers report withdrawals that were delayed, questioned by telephone or refused outright, and one describes never being allowed a payout even while in profit. Others report payouts that arrived after ten to twelve hours of manual processing, and one recovered a full balance after escalating a complaint. If you hold a balance, request it in writing now and keep the dated record.
Why does BITmarkets telephone me about my account?
Clients consistently describe an outbound desk of managers, variously called advisers, consultants, brokers or retention managers, who dictate currency pairs, position sizes and target prices, discourage stop losses and press for larger deposits. HANFA's warning independently describes representatives urging citizens to use the platform and buy its BTMT token. A genuine exchange does not call you with positions to open.
Is BITmarkets safe to use for crypto trading?
We do not consider it safe. There is no supervising authority behind the entity that holds client funds, no compensation scheme and no ombudsman, so if your balance disappears there is no regulator to escalate to. The platform itself works, but working software is not the same as protected money.
Is BITmarkets a clone of another company?
No. BITmarkets is its own operation with its own entities and its own token. The opposite is happening: look-alike sites are impersonating this brand. The UK Financial Conduct Authority warning published on 2 October 2026 names BitMarkets AI and BitMarkets Trading Group at bitmarketslogin.com, bitmarkets.ai and bit-markets.com, and none of those is bitmarkets.com.
Why has Trustpilot removed the BITmarkets rating?
Trustpilot has withheld the company's star rating because of a breach of its guidelines and states that it removed a number of fake reviews for the company. The remaining 109 reviews split roughly 49 percent five-star against 26 percent one-star, with a thin middle. A high positive score on a page like that cannot be treated as reassurance.
How old is BITmarkets?
The oldest company behind the brand, UAB BITmarkets in Lithuania, was incorporated on 11 April 2022, giving a verified track record of about four and a half years. The bitmarkets.com domain dates to 2010 but was parked until 2019 and carried no BITmarkets content before then, so it does not evidence a longer history. The company that now contracts with clients was registered in 2025.
What should I do if I lost money with BITmarkets?
Report it to the police and to the financial regulator where you live, and contact your bank or card issuer straight away so a chargeback can be considered. Gather your account statements, transfer records and the names of the managers who contacted you. Ignore anyone who approaches you offering to recover your funds for an upfront fee. Clients here already describe being sold a loss-recovery offer and losing the second payment as well.
What we recommend
The practical takeaway from everything above.
Our advice to anyone considering or already holding an account.
- Do not deposit. No regulator supervises the company that would hold your money, and there is no ombudsman or compensation scheme behind it.
- If you hold a balance, withdraw it now and start the request in writing so you have a dated record. Expect manual processing and telephone contact.
- Refuse any instruction to add funds to release a withdrawal, cover a margin call, recover a loss or reach a minimum account size. Never borrow or draw on pension savings to top up a trading account.
- Do not accept advice from an account manager. Clients consistently report losses on trades the managers directed. A genuine exchange does not telephone you with positions to open.
- Check the address bar. Look-alike sites are impersonating this brand and at least one set of them carries a UK regulator warning. A site that is not bitmarkets.com is not this exchange.
- If you have lost money, report it to the police and to the financial regulator in your own country, and to your bank or card issuer immediately so a chargeback can be considered. Ignore anyone who contacts you offering to recover your funds for a fee. Clients here already describe being sold a loss-recovery offer and losing the second payment too.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 15, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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