Bitwex is presenting itself as a company that trades Forex and cryptocurrency markets. It allegedly does it very profitably, so it can offer several investment plans to the public.
Returns on investment go up to 10% daily for 12 days, which means a 20% net return after 12 days, in other words 50% net per month. Is this genuine?
Plus, steady daily returns are impossible to achieve in trading, anybody promising them must be a scammer, there is no other possibility. In real trading you will even have losing days, weeks and probably also months. That’s just how financial trading works, you cannot win every day.
The important thing is that Bitwex is not registered with the Financial Conduct Authority, therefore it cannot offer any financial services legally.
How it works
Bitwex obviously is a scam which works as a Ponzi scheme. It uses deposits to pay the first withdrawals, no real trading is made, no profits are generated.
This means that Bitwex is going to collapse soon, just as every Ponzi scheme does.
Bitwex is a scam that is collecting money and will quickly collapse, stay away from it!
If you are interested in real financial trading, start on a free demo with a regulated broker.
You have many things to learn before you can start thinking about switching to trading with real money.