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BetaCrypto.com Review: Scam CFDs broker or Legit?

BetaCrypto.com Review: Scam CFDs broker or Legit?

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Today our interest has been drawn to a site called BetaCrypto. The domain can be found at BetaCrypto.com, and the main business operation there involves offering a number of Crypto pairs for trading. They have been in business for more than a year now, and so one might think that Beta Crypto is legit. The problem is that they have a dirty history since many people have already complained about them in the forums. If these complaints are anything to go by, then there is no doubt that they will influence the direction that this review shall take from here hence forth.

On the other hand, they have a very unique advantage over most brokers offering trading in Crypto currency pairs. One particular feature offered by Beta Crypto is dedicated towards enlightening traders on matters related to trading. They have an a whole section of learning materials on their site, which is a good gesture considering that many brokers do not bother to provide in-depth learning resources about their products.

So we feel that this is a positive. Also, while the platform looks intuitive, it has been criticized for lacking certain critical features which have been considered standard with many other brokerage firms. It would beg the question of why a Crypto broker who has spent their time to build education materials for their clients can go ahead and do a shoddy job by presenting an incomplete trading platform lacking some critical features.

Therefore, Beta Crypto is actually one of the most peculiar brokers we are meeting this year. Our interest is to find out whether they can be of benefit or not. So if you want to make an informed decision, it is our recommendation that you read this Beta Crypto review because we are about to reveal certain things about them that can shape your decision starting now moving forward.

Note: For the list of best brokers, click here.

Beta Crypto Review

For every Crypto currency broker that we are reviewing here, the first thing we always look at is licensing and contact details just to see whether they have this information ready. Although this is not a hard and fast rule, it is always good to know that a broker has these details on their site. It adds a level of credibility. Are they regulated? Not at all. So this makes BetaCrypto a little dangerous to deal with considering that a lot of people have brought complaints against them.

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The brokerage is owned and operated by Golden Vision Consult Ltd. The site reveals that this firm’s offices are located in London and Bulgaria. Their email address is [email protected] and phone contact is +442080683487. An address has also been provided just to add an extra touch of professionalism.

What do they offer?

Beta Crypto offers a trading platform that appears intuitive and easy to understand. Since this is a web based platform, there is no need to download any software. Getting started with the platform is very easy, plus the platform features a number of attractive features, one of them being one click trading. However, the charting experience is not that great. If you are an avid analyzer of trading charts, this might not be of any use to you. You might simply want to consider professional online brokerages that have more reputation and are offering comprehensive charting solution to their traders.

What is more, Beta Crypto does not have algo trading feature, which is yet another serious setback associated with using this platform. They need to fix these issues if they will ever want to move forward and attain the kind of success which they are looking for. This means that traders who want to use trading bots synonymous with MT4 and MT5 platform will seriously face disappointments. How can a broker who claims to offer an intuitive web trading platform lack these basic features which traders around the world crave for and consider must have features in any broker’s platform? That’s the question that everyone is asking.

However, there is a form of copy trading available on this platform. Beta Crypto does elaborate on the features or conditions for using this copy trading platform. Although this is meant to compensate the lack of compatibility with trading robots, we find that it is not very helpful if the broker is getting one thing right and totally doing it the wrong way in other areas of operation.

The other thing that we want to know is whether Beta Crypto is vetting out traders who enroll for this copy trading mechanism. It is important to look at past performance very carefully. Otherwise, if you follow someone without considering their past performance or track record, you could be disappointed.

4 types of accounts and features

Yes there are 4 of them and each account is equipped with many different features. What you get depends on your trading strategy and goals. A bonus of 150% applies, although you should be very careful because these bonuses give broker the right to harass you when it comes to how much you can withdraw from your money.

The broker’s website was registered in April 2017, and this means that they are very new to this industry. We needed to see that Beta Crypto was doing a good job. So to find out that complaints are increasing by the day, we can only express our disappointments because this is not a great start and neither is it something we had anticipated from a broker that appears to be serious with their job.

Also, we don’t like the fact that Beta Crypto is not transparent with their traders. Fees are unknown, and minimum withdrawal is also not known. The minimum that this broker is accepting is $500, which is very high considering that most professional brokers take $250 or even below.

Our best advice for you

While Beta Crypto looks promising, we are not going to endorse them yet because of the reasons stated above. Stick to our usual recommendations and you should be safe.

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