Have you thought of trading with Bitictrade brokerage? Do you want to know why you should not trade with Bitictrade.com? Let’s see Bitictrade review to know exactly that.
This content promises to share helpful review to support clients/traders in making the right decision.
Bitictrade also known as Bitictrade.com is an offshore brokerage company with a lot of promises for forex traders. The broker happens to be completely unknown as there is no information about the entity that stays behind this website.
What is more, there are various account packages offered by the broker namely, STANDARD, SILVER, GOLD AND VIP.
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
Bitictrade Minimum Deposit:
Bitictrade deposit is indicated $250 according to the account type. In contrast, licensed FX brokers made known on their minimum deposit to traders, and clients can start trading as low as $100 .
As for the payment methods, the broker accepts popular funding methods like bank wire, eWallets and major credit/debit cards.
Just so you know, there is a place for Bitcoin payment. Sadly, cryptocurrencies do not allow refunds or chargebacks. What is more, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Bitictrade platform offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
As for Bitictrade leverage, it can get up to 1:500. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why Bitictrade.com Is A Suspicious Forex Broker
First of, Bitictrade.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. This website is completely anonymous. No company name or address is provided.
Obviously, Bitictrade brokerage has drawn the attention of a renowned financial regulator — French Financial Markets Authority (AMF) has warned against this entity and its financial service.
In addition, the platform does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Bitictrade Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bitictrade located at Bitictrade.com claims to appear genuine in trading services, however, the brokerage has already been blacklisted amongst unlicensed and unregulated platform. Therefore, we would advise traders to steer clear from this broker as it likely a platform run by scammers. We urge our readers to rely on regulated brokers like this or any licensed entity.
Do you find this post informative? Please write us your experience on the comment section below.