Heard of Bitmarket-trader.com trading platform? Really want to find more details before choosing this broker? You can read Bitmarket Trader reviews to know about this forex broker whether to use or not.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Table of Contents
About Bitmarket Trader
Bitmarket Trader otherwise known as Bitmarket-trader.com is an offshore brokerage with a lot of promises for forex traders. The forex company promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Bitmarket Trader Regulation
To begin with, Bitmarket Trader openly claims to be incorporated in Estonia, but our investigation in the Financial Supervision Authority of Estonia (FSA) register did not yield any regulatory information about the company.
The situation always gets worsen for unlicensed brokers when some institutions issue a warning against them. Here, the Belgian Financial Services and Markets Authority (FSMA) in Belgium has blacklisted the broker for public to see.
It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Bitmarket Trader Minimum Deposit
Bitmarket Trader enforces $5,000 minimum deposit. Also, to access the top-tier Presidential account, traders must commit a staggering minimum deposit of at least $250,000.
In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Furthermore, Bitmarket Trader does not provide information regarding available payment methods and transaction fees.
Just so you know, 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!
Bitmarket Trader Withdrawal
In this section, Bitmarket Trader states that withdrawals are processed within 5 to 10 working days. Important to know that the fees associated with subsequent deposits and withdrawals are not specified.
Bitmarket Trader Platform
Bitmarket Trader offers access to a fairly basic web-based trading platform. The broker’s web trader comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Bitmarket Trader Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Bitmarket-trader.com 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
Bitmarket Trader appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Please share with us your experience in the comment section below. Thank you!