TL;DR: the short answer
BCSC warned on 2021-07-09 that Bit-Finance (bit-finance.io), which says it is UK-based and offers forex, commodity, stock index and crypto trading accounts, is not registered to trade or advise in BC.
Scambaba rates Bit-Finance critical risk with a risk score of 8.5/10, last verified 2026-10-24.
Key facts
| Risk score | 8.5 / 10 (Critical Risk) |
|---|---|
| Status | On BCSC Investment Caution List (not registered/recognized in BC) |
| Category | Crypto / Forex Scam |
| Primary scam vector | Unregistered forex/crypto trading accounts |
| Reported domains |
|
| First listed | 2026-10-24 |
| Last verified | 2026-10-24 |
Red flags reported for Bit-Finance
- Says it is based in the United Kingdom and offers trading accounts
- Account range spans forex, commodities, stock indices and cryptocurrencies
- The BCSC says it is not registered to trade in, or advise on, securities or derivatives in BC
- Accepts BC residents as clients, per the regulator
- Website bit-finance.io; the name blends "bit" and "finance" to sound established
Detailed threat analysis
What the BCSC says
On 2021-07-09 the British Columbia Securities Commission (BCSC) published a warning about Bit-Finance. The notice says Bit-Finance claims to be based in the United Kingdom and to offer trading accounts for forex, commodities, stock indices and cryptocurrencies. The BCSC is aware that it accepts British Columbia residents as clients and states that it is "not registered to trade in, or advise on, securities or derivatives in BC." The website listed is bit-finance.io. The BCSC urges caution with unregistered firms and points readers to InvestRight.
A broad menu of markets
The entry lists four asset classes under one account. The BCSC does not say whether any trading actually took place or whether clients lost money. As general advice, a single unregistered website offering access to many unrelated markets, often with high leverage, is a pattern regulators frequently flag, because the "market prices" shown are controlled by the platform operator and cannot be independently confirmed.
Practical guidance
Before opening any trading account, compare the quoted prices with a reputable independent source. Ask who holds client money and which regulator oversees that firm in the country it claims. A claimed UK base does not make a firm authorised in the UK; the UK regulator maintains its own public register that you can search. Be careful with leveraged products if you cannot afford to lose the full deposit.
What to do if you dealt with Bit-Finance
- 01Check the firm in the UK's public financial services register if it claims a UK base, and at aboutregistration.ca for Canada.
- 02Compare platform prices with an independent market data source.
- 03Ask who holds client money and under which regulator.
- 04If you deposited, contact your bank or card issuer and report to the BCSC and the Canadian Anti-Fraud Centre (1-888-495-8501).
- 05Keep account statements, trade logs and chat history.
Frequently asked questions
What does the BCSC say Bit-Finance offers?
Trading accounts for forex, commodities, stock indices and cryptocurrencies, according to the 2021-07-09 notice, which describes these as the firm's claims.
Is Bit-Finance really UK-based?
The BCSC says only that it claims to be based in the United Kingdom. It does not confirm that.
Is Bit-Finance registered in BC?
No. The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC.
Sources
- Bit-Finance - Investment Caution List, BC Securities Commission, 2021-07-09
This report reflects publicly available information and reported patterns as of 2026-10-24. It is an opinion, not a legal determination. Spot an error or represent this entity? See our editorial and corrections policy.