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The site says that the BitXTrade brokerage platform has been on the international stage for a long time. The company’s daily trading turnover exceeds $150,000,000. The project is constantly evolving to provide an opportunity for traders to profitably trade on world exchanges. BitXTrade (bitxtrades.com) is a European brokerage platform that has been successfully operating since 2018. Project managers promise that earnings will be like in a simple online game.
Based on this user feedback, it appears that BitXTrade is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform. Summing up the results of a full check of the BitXTrade pseudo-broker site, we can say that this is another dummy. Fraudsters invented a fabulous legend of a successful company, bought an old domain. There are no real facts that would confirm the legal part of the project and real reliability. We advise you to find another broker for reliable trading. It is best to cooperate with brokers who are licensed by the Central Bank of the Russian Federation.
Well, that’s because there is such a huge difference between what you get with those accounts. At other times, you feel as though the broker is trying to rip off the trader. If you go with the standard account, you do not pay any commission and your spreads can be as low as 1pip (that’s not low by the way).
The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA, like ForTrade. I have been trading since February and I am yet to receive a return investment.
Being registered with the Companies House is not enough. Therefore, we can safely say that this broker is unregulated and thus operating outside the law. This is a tactic that is adopted by serial scammers who try to rake in as many deposits as they can before the scam is noticed.
In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from BitXTrade, typically around 20%. Follow our straightforward guide to efficiently reclaim your lost funds from BitXTrade with minimal hassle.
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You also get market indicators and charting tools to analyze the market trends better. This is also another red flag, since Bitcoin payments are untraceable bitxtrade and irreversible. Once you have carried out a transaction using a cryptocurrency, then there is no way you will ever get your money back.
Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances. Also, the statistics of the project itself is a blatant lie. There are not so many active clients and there is no multi-million dollar turnover. The beautiful figures of the project make beginners believe in reliability and the possibility of making quick money.
Design check
Why do you have to give money to the broker in the form of spreads as well? These differences in accounts types from the broker can be startling for some. BitXTrade is an offshore broker, your funds are not safe.
- Being registered with the Companies House is not enough.
- The overall lack of professionalism on the website and in its offerings makes it one of the weakest online brokers on the internet.
- Once you have carried out a transaction using a cryptocurrency, then there is no way you will ever get your money back.
- First of all, you can see that the broker has a strong connection with China.
- The broker needs a lot of improvement to become an international-level broker.
However, if the broker you are signing up with does not sound, look, and feel professional, you might not be at peace while signing up with it at all. And if you make the mistake of opening an account with such a broker, you will only regret for life. There are some brokers on the internet that showcase a lot of non-professionalism. They might have some great strengths as well, but their non-professionalism mars that image badly.
Trading Accounts and Conditions
The broker has to spend hundreds of thousands of dollars to get the perfect trading platform that suits its target audience. However, it seems that BitXTrade has not done anything special in this department so far. Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from BitXTrade with minimal inconvenience. Bitcoininvest.eu is an investment company which is working on… Unfortunately, there is no way to get the money back, even legally.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why your funds are not safe with BitXTrade. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.
EToro is a multi-asset platform which offers CFD and non CFD products. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. That’s a problem you will find with many online brokers. If you look at the websites of the best brokers in the world, you will notice that they do not go too heavy on leverages. Yes, they do offer you some good leverages on your trades, but you hardly ever find them going overboard with the whole thing.
Обзор проекта BitXTrade
When we opened a new account with this broker to check the trading conditions and the type of platform, we found out that there was no platform. In its place was a rudimentary dashboard where the only thing you could do was make deposits in Bitcoin. Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes. With such lack of information and https://cryptolisting.org/ being offshore, funds are not safe.
It is best not to get involved with this project, so as not to lose your savings. More and more new brokers are realizing that a web trader solves a lot of their and traders’ problems. For example, you do not have to offer six different trading platforms to your traders when you have a web trader. At the same time, your trader can use the same trading platform on just about any device and from anywhere in the world when he/she has access to a web based trading platform. In addition to that, based on how big the broker claims to be, you would expect it to offer its own trading platform. If you check the BitXTrade domain, it turns out that it was registered in 2018.
After this, they launch a new domain address and start the process all over again. BitXTrade might be doing a lot of things right in other areas, but the aspects that we have stated above show its weaknesses. The broker needs a lot of improvement to become an international-level broker. At the same time, it has to realize what trader experience really means and then design its trading platform and website based on that data. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Security of funds is a huge problem with offshore brokers. A red flag that we noticed is BitXTrade is withholding vital information to users. Unfortunately, BitXTrade is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority . Be careful and verify your information through multiple sources.
On the other hand, with small and new brokers, you usually see them offering extraordinarily huge leverages. Not to mention, it puts the trader in a lot of danger as well. It is stated that BitXTrade is registered in Switzerland.
So, when you have these sudden spots on the website where you can take glimpses of Chinese, you can’t wrap your head around the whole thing. When you sign up with an online broker, you are putting your trust in it. You know that the broker will take care of your account, money, and information while you busy yourself in learning how to trade.
If the broker is not serious with what it is doing, how can it provide you with serious and professional trading services? When you land on the website of this broker, you notice a lot of issues. First of all, you can see that the broker has a strong connection with China. However, the website has been translated in English and most of the features of the broker are directed towards traders from other parts of the world.