BitEclipse

Internet resource BitEclipse has existed since 2018. It works with traders from almost all countries except Japan, the Seychelles (where, by the way, the company that owns the service is allegedly registered), the United States and the UN convention countries. Trading is done via the API.

Is the company reliable and will it pay off or Forex broker Is BitEclipse a scam to fool naive users? Let’s find out.

 

 

Terms of trading with BitEclipse

The broker offers trading in currency pairs (fiat and cryptocurrency), commodities and CFD contracts in U.S. dollars, bitcoins and ether. The account type is the same:

• No minimum deposit restrictions and requotes.
• With interest-free crypto exchange for makers.
• With types of orders Market, Limit, IFD, OCO (mutually canceling – when one is executed the second is removed), IFO (with a leading indicator).
• Leverage – from 1:100 to 1:500.
• Margin Call 120% and Stop Put 100%.
• Trade limits from 0.01 to 100 lots (where 1 lot = 100,000).
• Spreads from 0 pt.
• Commission for each transaction (one way) – from 0.10 pips.

 

Demo account There is no provision: you start by investing your own money. However, there are no deposit and withdrawal fees from the broker. To create an account, it is enough to fill in the form, indicating and confirming (by following the link from the provider’s letter) your e-mail. Trading is conducted from Sunday (5:45 PM New York time) to Friday. (until 4:45pm the same time zone). It offers an investment in MAM. This is also a trust management, when invested funds trades selected manager. But, unlike PAMM, it is not done on a separate (investment) account, to which the manager has no access.

 

Instead, the trader’s trades and changes in his account are automatically copied to yours. And you lose and earn in proportion to his losses and earnings (depending on what the ratio of your and his deposits is). For a choice of a PAMM-manager (investor) and communication with him a special section is allocated. However, in our case it did not load for some reason. The broker does not provide analytical materials: everything that is offered is offered by its partners – the owners of TradingView and MetaTrader. But there is a small selection of videos of the platform. Plus, individual consultations in Telegram. Support is also provided through the feedback form on the website biteclipse.com and in BitEclipse communities on social networks. In addition, there is a forum for traders, where you can discuss your concerns. Only authorized users of the system can access it (Forex Trading Training).

 

BitEclips platform

BitEclipse works with MetaTrader 4 and MetaTrader 5 platforms. To connect the terminals to the broker’s servers, an open API is used (the key is created in the personal cabinet). The service provider also has its own application, presented by a web version for PC and a downloadable mobile application for iOS and Android. Basic functionality:

• Manage your personal account.
• View market rates and currency charts.
• Exchange and Trading.
• Creating and executing orders.
• Settings.
• Hedging transactions, by the way, is only available in mobile.

Broker quotes

Forex direction is represented on the site by 36 common currency pairs: USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, NZD/JPY, CAD/JPY, CHF/JPY, DKK/JPY, NOK/JPY, SEK/JPY, EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD, USD/CHF, USD/DKK, USD/NOK, USD/SEK, EUR/GBP, EUR/NZD, EUR/CAD, EUR/CHF, EUR/DKK, EUR/NOK, EUR/SEK, GBP/AUD, GBP/NZD, GBP/CAD, GBP/CHF, AUD/NZD, AUD/CAD, AUD/CHF, NZD/CAD, NZD/CHF and CAD/CHF. BitEclipse quotes, as stated on the website biteclipse.comThe company’s partner, the TradingView service, provided the information. This is a respected platform with a good reputation. And its plugins usually cannot be reconfigured to display the numbers the broker wants. But there is no guarantee that working through the API we will get reliable information.

 

Demo account biteclipse.com

Demo account on the site bitclipse.com You will not open it. In the FAQ section, the broker assures you that the platform’s interface is intuitive and you will not have to struggle with mastering it. Nevertheless, you will not be able to assess the platform’s features and practice if you do not have the skills of a trader.

 

 

Mobile application

As we wrote above, BitEclipse has its own mobile application for trading currency pairs, commodities, contracts on indices and cryptocurrency. In terms of functionality, it is not inferior to the web version. Moreover: some options are only available in the mobile version – the same hedging of transactions, for example. The software has no ratings at all. Apparently, it was added to the Play Market and App Store quite recently.

 

 

Bonuses in BitEclipse

BitEclipse bonus program is a gift for registration and monthly drawings (contests). Let’s tell more about each special offer.

Registration gift

If you register on the platform and send your client ID to the support service in Telegram, you will receive a special gift: $10 to your account. The bonus can be activated only once. It is not always available – you need to read the terms and conditions on the site.

Contests

The provider gives out monthly prizes to IB-partners for activity each month. The winners are determined on the basis of the open rating, where the points are the company’s earnings from the clients of the service attracted by partners. The higher the earnings, the more a partner will earn.

 

Affiliate Program

BitEclipse affiliate program is about attracting IBs (Introducing Broker) who, in turn, bring other partners and new clients to the platform. Something like a pyramid, each participant has his rating (level) in the system. Earnings are calculated as a percentage of the amount of costs of the attracted users, but taking into account the level – it is designated as Tier, where Tier-1 – the initial, the lowest level, and Tier-10 – the last, the highest.

 

 

Deposit and withdrawal

No identity verification is required to deposit to BitEclipse: it is enough to register by confirming your email address. Deposits are made in the “Deposit” section of the personal cabinet. Supported methods:

• Cryptocurrencies (Bitcoin, Ethereum, Ripple).
• Electronic system PayPal.

In the case of cryptocurrency, there is no minimum amount. For fiat it’s 10 USD/EUR/GBP. There is no commission from the broker, but may be charged by third parties (the same PayPal). Withdrawal is carried out on request, which is made in the “Withdrawal” section of the LP and is processed during the day if sent before 5 pm New York time, or the next day if sent later. The processing, if the information on the site is to be believed, is done manually by the broker’s security service. There is a BitEclipse fee of 0.0004 BTC per transaction. Restrictions on the withdrawal (maximum, minimum) are not indicated.

 

Complaints about BitEclips

We could not find a single discussion of BitEclipse on a forum or a single review (with the exception of a few reviews on advertising platforms) about this site. And on serious international platforms there are not only no comments about it, but also it itself (while any official service is on the list of at least one of them). Given that the site’s start year is listed as 2018, this is somewhat strange. But it still has a place.

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Broker regulator

The website biteclipse.com states that the owner of the resource is a company called N2KSW-Projec, presumably registered in the Seychelles (it is in charge of FinTech and ICT – “financial market systems and complex technologies”). However, for some reason it is not mentioned in the service’s privacy policy and user agreement. There is no information about the existence of this organization (or a legal entity with such a name) in public registries. Seychelles is an offshore jurisdiction, so it is not possible to check the presence of the resource in its lists. Moreover, there are no details – registration number, legal number, etc. We can assume that this broker is not officially registered.

Biteclipse.com User Agreement

Biteclipse.com User Agreement (BitEclipse Terms and Conditions) defines the way of working with the company’s services, as well as its rights and obligations to you. Let’s look at several paragraphs. So, in item 6.2 it is said that one trader can open only 1 account on (ID).

If there is an official request from the law enforcement authorities, your account will be blocked until all the circumstances are clarified. In addition, inactive accounts (from which no trading activities have been performed for 1 year or more) and users who have violated the terms of agreement are subject to blocking. The liquidated balance in any of the above cases is not refundable. The Company is not responsible for your losses due to system errors in its services, Internet connection failures, server failures, viruses and malware, cyber attacks, and hacking of your account/account by third parties (clause 12.2).

In addition to being found in violation of the law (14.1), your account can be blocked without notice for threatening BitEclipse representatives, making unreasonable demands, “damaging trust” (what this means is not entirely clear) or preventing the service provider from carrying out its activities (14.2).

The company also has the right to claim compensation from you for damages caused by your actions (clause 16).

 

Is BitEclipse a Scam?

BitEclipse – it is a forex broker without confirmed registration and with no license (Seychelles does not issue such documents, and other jurisdictions are not listed on this site), which offers customers to enter into trading immediately, without testing the platform with a demo account. There is no direct communication (phone, chat) with him, on the forums we did not find any discussion of serious problems (mostly greetings and meaningless phrases), and Telegram-chat – is a faceless way of communication (impossible to trace who is on the other side).

There are no reviews about the site. Moreover, there are no mentions of it on serious feedbacks, which collected the base of almost all real operating brokers. We cannot officially declare that BitEclipse is a scam. But there are many factors that raise suspicions about the honesty of the service provider.

 

Conclusion

BitEclipse offers two-factor authentication (at every login you have to confirm your actions with a one-time code, which comes to your e-mail) for account security, no restrictions on the minimum deposit for cryptocurrencies and small deposit in fiat currency (10 USD), as well as the ability to deposit via PayPal with its revocable payments (you can request a refund if you confirm the fraud of the trading company) and open API.

From the disadvantages – the absence of confirmed official status and information about the company-owner, direct communication with BitEclipse representatives, the inability to withdraw earnings in fiat and a kind of anonymity of the broker (there are no reviews or mentions in large feedbacks, usually collecting a complete list of such companies).