Bitmatic doesn’t provide any valid licensing information to demonstrate its legitimacy. While it claims to be located in the UK, there are no indications that it is registered with the Financial Conduct Authority (FCA).
In addition, the website of Bitmatic has been blacklisted by the Italian Companies and Exchange Commission (CONSOB) for operating in Italy illegally.
In essence, Bitmatic is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds.
Bitmatic appears to be a scam.