Note: Report Scam Community has conducted many researches before flagging FxBTC as a possible scam in this FxBTC Review.
Is FxBTC a scam or legit?
FxBTC is an offshore or unreliable broker which is not regulated by any reputed regulation authority in its region. This broker offers trading and investment services in many countries without having a license from any regulatory authority in its country like CySec, ASIC, FCA, CNMV, etc. The broker got many Complaints and negative FxBTC reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Website – https://www.fxbtc.io
Address – Boulevard Vasil Levski 113, Sofia 1000, Bulgaria, BULGARIA
Warned By – Financial Conduct Authority (United Kingdom)
FxBTC is a CFD brokerage that doesn’t reveal important corporate data. The broker does not use MetaTrader 4 as a trading platform, instead uses some web-based terminal. Apart from that, no trading conditions were disclosed by the broker, but this is not the only thing to make this broker a suspect of a scam.
The major concern is, FxBTC got a warning from the British regulator – the Financial Conduct Authority. It means the broker is targeting traders without a legitimate license. The broker claims to be owned by a Bulgarian organization Alpha Capital Technology but does not even hold a license from a local Financial Supervision Commission. The obscurity and the absence of guidelines may put your funds at high risk.
Despite FxBTC attempts to look legit and trustworthy, we can’t disregard the alerts that BrC giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2022 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.
FxBTC Review: Possible scam activities of scam broker
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this FxBTC review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative FxBTC Reviews and Complaints
FxBTC has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2022.
Example of Negative FxBTC Review
After Searching internet you will find many negative FxBTC Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and FxBTC reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
How to get your lost money back from FxBTC?
The best solution recommended for getting your lost money back from FxBTC is Report Scam Community.
They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation for fund recovery and anyone can register by filling a very short complaint form.
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