Unregulated and Untrustworthy
According to the documents set forth by M-Bitrade, it is an investment business that specializes in cryptocurrencies. Our review shows it is unregulated, and that they are lacking a credible license from a legitimate and notable financial provider such as the FCA, ASIC, and/or CySEC. It is very alarming that there are no regulations of M-Bitrade, especially for regulated providers have obligations regarding the safety of client funds and some accountability and transparency with their operations.
FCA Issues Investor Warning About M-Bitrade
The Financial Conduct Authority (FCA) has formally cautioned the public about M-Bitrade for offering financial services without authorization in the United Kingdom. M-Bitrade is not on the FCA register, which means it’s not authorized to operate in the UK or provide services to investors who are in the UK.
Spain’s CNMV Issues Warning
Spain’s market regulator, Comisión Nacional del Mercado de Valores (CNMV), has also warned that M-Bitrade is engaging in investment activities without authorization. According to the CNMV, M-Bitrade does not have appropriate regulatory licenses to offer any financial products or financial services in Spain.
Unverified Owners and Transparency
The most troubling red flag regarding M-Bitrade is the unverified operators. The WHOIS records indicate the website owner is using a form of paid privacy service (especially used by scam companies) to separate themselves from being discouraged about to be held accountable. Also, there was no information regarding our team, physical address, or verifiable company registration on their website.
Negative Reviews and Shady Hosting
M-Bitrade has accrued several negative reviews online from users who claimed their customer service was lacking, withdrawals were inaccessible, and they received manipulative investment advice. The website is also hosted on a server with a plethora of other low-rated websites, and a lot of those sites are also marked for suspicious activity. The registrar has a reputation for hosting scam domains, which doesn’t yield credibility for M-Bitrade.
FAQs about M-Bitrade
Q1: Is M-Bitrade regulated?
No, M-Bitrade is not regulated by any major financial authority and is an unregulated investment platform.
Q2: Can I withdraw my funds from M-Bitrade?
Many individuals have reported withdrawal issues, and it evidently appears that once you deposit the funds, it is never easy to withdraw.
Q3: Who owns M-Bitrade owned by?
Ownership is hidden through WHOIS privacy, and there are no verifiable company or team details.
Q4: Is it safe to invest with M-Bitrade?
M-Bitrade is unregulated, and there are a number of complaints from users, so investing with M-Bitrade is high risk and has a high likelihood of loss.
Q5: What do I do if I’ve already invested my money?
If you have deposited funds into M-Bitrade, you should consider a fund recovery service and/or report them to financial regulators about your concerns.
About Report Scam – Recover What’s Rightfully Yours
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