BearsMarkets (Bearsmarkets.com) is a barbarous Crypto Currency scam broker to hit the lucrative Crypto trading world. BearsMarkets claims to help users invest in confidence by simply registering with their platform. With claims such as immediate conversion, education and total control, we had to check them out. A detailed investigation was underway to determine what was ticking with BearsMarkets. Read this honest and detailed review to find out tricks used.
As we always say in almost all of our reviews, for a scam to work, it has to appear real and legit. These scammers have come up with a very interesting and user-friendly website. Bears Markets homepage is pleasing to the eye, there’s no doubt about that. This is exactly what the scammers want, to grab all of your attention. Don’t let the homepage fool you, there’s more than meets the eye with BearsMarkets.
What scammers add to make their offer spicy is over the moon promises. Scammers know for a fact that we all want to make a quick buck or two. They have come up with a way of taking advantage of this need. Scammers ensure that they create a scenario where they bluntly state they can help you make easy money. Promises such as trading training, having the best analysts are some promises used.
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According to the disclaimer at the footer of the homepage, BearsMarkets is owned by Danha Solutions KFT. This company is apparently incorporated under the laws of Hungary. They have put up a registration number 26527866241. How can we prove that this is actually true? Simple, we had to contact the registrar of companies in Hungary to find out the truth. Sadly, Danha Solutions KFT is not registered.
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Another disturbing feature with BearsMarkets is the level of anonymity when it comes to revealing real owners. Any legit Crypto Currency broker would certainly reveal the name of people behind the platform. This is the case in all legit brokers as it helps with verification. For all we know, the owners of this platform are hackers or Identity thieves. That’s why verification is important.
These scammers claim to only be incorporated under the laws of Hungary. There’s nowhere on the homepage do they mention licensing and regulation. This makes it safe for us to assume that BearsMarkets is NOT LICENSED OR REGISTERED anywhere on the face of the planet. A registered broker tends to show or post their registration credentials. This is clear we are dealing with an unauthorized broker.
Unauthorized brokers are bad investment opportunities since they don’t follow strict rules and regulations set. How can we prove that members are protected by this broker? There’s no way we can prove that you will be protected by this broker. This is because they are not licensed to conduct any third-party trading. Bears Markets does is not mandated to conduct any trading transactions on behalf of traders.
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This is probably the only thing that these scammers got right. Any investor who wants to deposit money into this scam can do so. There are various options provided by scammers. Some of the depository channels include Visa, QIWI Wallet, MasterCard and WebMoney. This makes it easier for these scammers to have a wide base of investors. Note that this is not reason for anyone to sign up with BearsMarkets.
When it comes to withdrawing, here lies the main problem. During and after our investigation, there’s no one who had been able to make withdrawals. This is proof that we are dealing with a cunning scam broker. All they want is for potential Crypto investors to deposit all their hard-earned money with them. This is highly illegal and that’s why we are urging all investors to stay clear of Bears Markets.
Have you noticed that there’s no way to contact this broker by live chat? How can this be the case in this day and time. This is clear evidence that we are dealing with a broker who does not want to be contacted. And this is why we are claiming that BearsMarkets is full of scam, there’s way too much anonymity.
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This is always a good question to ask yourself before signing up with any CFDs or Forex broker. Sadly, we have evidence that your funds are not safe with Bears Markets. Fact of the matter is simple; they do not participate in segregation of funds. For all we know, members maybe depositing funds straight to the owner’s personal bank account. There’s simply no way to prove otherwise.
Another question that every investor should ask is, do they participate in a compensatory scheme? This is always a good way to make sure that investments are in safe hands. Sadly, this is not the case with BearsMarkets. Once you lose money with this broker, you will not be compensated for any losses incurred. That’s why it’s always imperative to read reviews of brokers before signing up with them.
BearsMarkets has six different accounts on offer. These accounts are Mini, Silver, Gold, Diamond, and VIP. Last account they offer which is special is the Islamic Account. The first three accounts have the same leverage of 1:200. Diamond account has a leverage of 1:300 while the VIP account comes with 1:400 leverage. All these accounts come with either a personal manager or a personal broker.
Islamic account is targeted for the Muslim brothers and sisters. This account comes with certain specification compared to normal accounts. This account comes with no interest in trades as the Koran suggests. As transactions progress, these account holders may face other hidden fees. In short, BearsMarkets simply wants to trap all types of investors. Note that withdrawal is what makes this a scam.
Without a shadow of doubt, we are dealing with a lewd broker who is out to steal your money. Number published at the footer of the homepage is just a hoax. These scammers want to make the platform appear real to unsuspecting investors. Best thing to do is to stay clear from this platform and ignore their plea to sign up.
Make sure you ignore all incoming emails sent by their email marketing team. These emails should be marked as Spam. This is the only way to ensure you remain safe with Crypto trading.
With all the evidence we have produced, only option left for us is to blacklist this broker. Relevant authorities will look into this broker and finally shut their whole operation down.
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