Heard of BTX Group forex broker? Is this broker reliable or scam? Read BTX Group reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is BTX Group?
BTX Group otherwise known as BTXGroup.io is an offshore brokerage with a lot of promises for forex traders. The forex company shows us addresses in Vienna, Austria.
The broker offers different account types namely —
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
BTX Group Minimum Deposit
BTX Group deposit is specified $250 according to the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
On the website, the broker accepts deposit via Visa, mastercard, Maestro and wire transfer.
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!
BTX Group withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
BTX Group Platform:
BTX Group offers a web trading software. It sure may be ok for beginners, as this broker claims, but in our opinion this is just not enough.
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.
What We Discovered about BTXGroup.io Broker
First of, BTX Group claims its registered address to be in Vienna, Austria. The problem is that every broker based there must be licensed by the local Financial Market Authority (FMA) in order to operate legally. A quick search in the registers of FMA was enough to prove that BTX Group is not regulated at all.
There’s more, it turned out that BTX Group has been blacklisted by one of the strictest regulators in the EU. The National Securities Market Commission (CNMV) of Spain has posted a warning against it.
More so, this broker 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/ clients 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.
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
BTX Group located at BTXgroup.io claims to appear like a trustworthy trading broker, however, that cannot be trusted. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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