Bitfxtradez claims to be a UK broker. However, it is not a broker. It is a scam scheme that you should avoid. We'll expose it in our full Bitfxtradez review.
Bitfxtradez did not mention licensing or regulations. It even failed to provide basic corporate information like company names, incorporation numbers, etc. It is illegalbrokerage and it is easy to prove it. Bitfxtradez has no legal entities; verified and checked. Bitfxtradez is just an anonymouswebsite!
Bitfxtradez is an scamHTML3_! It was bannedby the British regulator FCA. This warningaffirmed that Bitfxtradez is unauthorised. It’s a fraud!
Avoid Bitfxtradez and instead, check out our lists of properly regulated Forex firms! CySEC, and FCA (Britain), brokers have been proven to be safe. Both authorities impose strict restrictions to ensure clients’ funds are safe. These regulations include client account segregation and risk-reducing measures such as leverage restrictions, negative balance protection, increased capital requirements to license brokers (EUR730 000). Most importantly, both FCA and CySEC brokers are covered by deposit insurance funds. Clients of FCA brokers can claim up EUR20,000 in compensation, while UK protections go up to PS85 000 per client! Trading with unregulated brokers who are not licensed will make your money vulnerable and unprotected. It is therefore not recommended that you trust your money with unregulated brokers.
Here’s a warning from the FCA about Bitfxtradez
Bitfxtradez does not have . There are no download links on the website. Upon registration, one will only be able to see an informative chart, which was broken. The so-called platform is located at the bottom of this section.
We’d rather save your time than waste it on the sloppy Dashboard of Bitfxtradez. Instead, we’d like you to see our lists with MetaTrader4and MetaTrader5brokers. Both the top-ranked firms are well-regulated and have a long history. It is safe to trust your money with them. Both MT platforms are industry leaders because of their stability and advanced features. They offer reliable indicators, automated trading, analytical tools, charting tools, and a marketplace that offers thousands of Forex apps. Although trading with MetaTrader brokers can be a good option for some, you should only trust licensed firms.
The chart below does not provide trading services. Therefore, discussing conditions is impossible. We will still pay close attention to Bitfxtradez claims to get a better understanding of this scam.
The assets classes that are allegedly available for trading include Forex, Cryptos and Energies. However, this is a complete lie. Bitfxtradez has proven to be a fraud!
The tradingpricesare supposedly extremely low as Bitfxtradez claims spreads start at 0.0 pip. This is arguably the most significant difference, but Bitfxtradez will not deliver any spreads.
The tradingriskis allegedly extremely high as Bitfxtradez falsely claims leverage can reach 1:1000. Trading on 1:1000 is not possible, but even if it were, it would be suicidal activity. This ratio is so risky that your account can be blown in seconds, regardless of volatility.
Now, look at the fake trading software and notice that it’s broken! What a failure!
Bitfxtradez requires a minimum deposit of $200. However, you cannot open a trading or investment account. Instead, subscribe to a fraudulent investment plan promising 40% guaranteed profit for the next 10 day – it’s a scam! Guaranteed, no one can guarantee that they will provide this much money for 10 consecutive days! However, although $200 is a reasonable deposit, it’s still much higher than the affordable brokers who allow customers to open an account for as little $5.
Another red flag is that the only funding method for Bitcoin transactions is available. It is a red flag if a broker refuses to accept standard options like Credit/Debit cards or Skrill. This indicates that Bitfxtradez may be illegal or insecure. Bitcoin deposits are irrevocable and cannot be reversed. This means that anyone who has deposited Bitcoin with Bitfxtradez can’t recover their money.
Bitfxtradez does not share any information regarding withdrawalsor fees. This is a red flag. Bitfxtradez is illegal and a scam because the broker doesn’t even have legal documents. Avoid it!
Forex scams can be as simple as you might think. The scam usually involves a fraudulent website and a scam call center called a boiler room. Scammers don’t care about excellence, but they want to reach as many people as possible. They use social media, Telegram chats and Telegram groups to do this. Most importantly, they work with hackers to purchase people’s information. You may get a call or chat from scammers on social media, offering guaranteed earnings, bonuses, and get-rich-quick schemes. It is possible to fall for scammers if they make it sound too good to be true.
The worst part of the game begins after the first deposit. Clients will be tricked by fictitious profits and then offered more gains and requests to deposit more. In the worst case scenario, victims will withdraw their funds but will be allowed to deposit again. Scammers will often tell clients to pay taxes in advance if the scammers want their money back. This is a common trick that scammers use to convince clients to pay taxes in advance if they want their money back. Victims often realize that they have been scammed.
First, inform the authorities. Call the police, other regulators and agencies, and tell them what happened. Also, contact your bank immediately to inform them of the situation and deactivate your cards. They will give you the instructions.
Unfortunately, you cannot reverse the irreversible nature of cryptocurrency transactions if you have made them. You would have the opportunity to file a chargeback if you used your bankcard. Be aware that scam recovery agencies are flooding this market so be careful when trying to get your money back.
Last but not least, please share your experience to protect others; it will be greatly appreciated!
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Bitfxtradez is an anonymous financial swindler. If you cannot get your money back, contact us for assistance with the recovery procedure.
The company says it takes one day to process the request, but the time necessary for the funds to appear in the bank account varies. Quite vague.
No, since Bitfxtradez broker has no regulation. Your funds are not safe with this scam brokerage.
Broker provides only a proprietary web trader for its clients, desktop and mobile.
