Bitmaxtrade Review: Forex Scam

Bitmaxtrade Review: Forex Scam

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Bitmaxtrade ( is another cruel Binary Options, CFDs, and Cryptocurrency scam platform to hit the trading world. Bitmax Trade is also professing to offer Crypto mining solutions to Crypto enthusiasts. Bit Max Trade is simply a way of making sure these scam artists trap Crypto trading enthusiasts. With complaints coming in from all corners of the world, trouble is brewing. Read this genuine and honest BITMAXTRADE Review for more details.

Bitmaxtrade Review

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Bitmaxtrade Review

After receiving numerous email complaints from victims of this scam, we had to investigate. During our investigation, we came across some damaging features which must be exposed. Bitmaxtrade is another online investment scam platform planning to rip off from newbie investors. Thanks to our years of trading experience, we know how to spot these traps from a far. Make sure to go through this detailed review as we will expose some of the trickery used by Bitmax Trade.

Whoever signs up with this platform is bound to make a huge mistake. These are professional scam artists who have cloned a real trading website. With claims and promises of making investors rich, the platform is simply stealing from deposits made. Never trust a platform which has over the moon claims and promise. With a cloned website, investors are fooled to believe they can make money trading with Bit Max Trade. Get to know why you should stay away from this website in the detailed below.

About Bitmaxtrade

According to information on their homepage, the platform is owned by Algobit Ltd. Algobit Ltd is a well-known scam platform which has been having a barrage of illicit trading activities. And this is the first problem we noticed with this platform. The lack of a proper regulated mother company associated with most online scams. Bitmaxtrade is owned by a proven scam company which is not registered by any company register.

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Anonymity is another feature which must be pointed out. Lack of proper ownership details is proof we are dealing with a lousy platform. Whatever the case, no one should sign up with an anonymous online trading investment platform. No one knows the names of the founding members of this platform. Without proper ownership details, you should steer clear from anonymous websites.

Is Bitmaxtrade licensed and regulated?

Scam artists will do or say anything to make their platform appear legit and regulated. And this is what Bitmaxtrade is doing with false claims of being licensed. They have posted IBC NO 198 028 as their license number. If this statement was true, why have they failed to post matching documents? A truly licensed platform will post copies of their license documents for all to see. Without the copies to validate their license number, these could be random numbers, which they are.

We reached out to various online regulatory bodies to confirm the license status of this website. What we found out was shocking beyond words. The platform should not be operating as some regulatory bodies have issued a warning. CONSOB and the FCA have issued an alert on Algobit Ltd. When official regulatory bodies give warning alerts, it is because investors are complaining.

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Advantages of Bitmaxtrade

We could not come up with any trading advantages of this platform. How can there be any advantage with a platform which has been flagged as a scam by authorities? With complaints from all over the world, Bitmaxtrade is definitely a platform to avoid at all costs. These are some of the reasons why we insist you stay away from this bane platform. Avoid making such mistakes as other investors have done. Bit Max Trade will do nothing but take over your money and run away with it.

Disadvantages of Bitmaxtrade

Account types

Bitmaxtrade Account Types

Bitmaxtrade is furnishing users with three account types to choose from. The accounts are listed as Bronze, Silver, and Gold. Features of these accounts are wanting as the minimum deposit is above the set industry standards. The platform will ask users to deposit $500 as the minimum deposit which is above the set standards. Bonuses are another issue which is a hidden trap to entice users to deposit more funds. Once you deposit more funds in hopes of getting a bonus, the scam artists close your account.

Deposit and withdrawal

When it comes to deposit channels, the platform has this area well-covered. Some of the depository channels listed include Bitcoin, MasterCard, Neteller, Skrill, Visa, and more. The main issue with Bitmaxtrade is failure to allow users to withdraw funds. And this is where we draw the line as the platform changes from a trading platform to a scam. Members of any platform should always withdraw funds at any given time.

Offline customer support

The platform has a chat box at the bottom right hand side of the website. The problem with this platform is live chat is at all times offline. Problem with emails is that they are one-way communication which is disadvantageous. Members can go for days without getting a response from the support team. Phone number listed is ever busy and when the line goes through, no one picks the calls. These scam artists don’t want to communicate past depositing and opening accounts.

Trading platform

According to what we have learned, Bitmaxtrade is using a custom-made platform. They sell it to users which is risky as the platform has not been tested. With such platforms, security is a main issue. The platform lacks proper security features such as DDoS and SSL Encryption. Once you download the platform, you give hackers access to your personal PC as the platform is malicious.

Safety of funds with Bitmaxtrade

The platform has a huge problem when it comes to handling of funds. Pooling of funds in one account is what’s happening with BIT MAX TRADE. Investors are depositing funds straight to owner’s bank account. There is no way the platform will ever allow users to withdraw funds from this account.

Scam or legit

Bitmaxtrade Deposit and withdrawal/ Account Funding

Evidence is pointing to the fact that Bitmaxtrade is a scam waiting to pounce on unsuspecting investors. Make sure to mark all their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from signing up with this illicit platform.

Bottom line

We will be adding this platform to our scam blacklist to ensure no one falls for this trap.

Why not use approved and dedicated Forex trading robots? With the right trading robots, newbie traders can make a decent profit margin. Sign up with above board and top rated Forex trading robots at once.

Wishing all investors a happy and prosperous trading experience.

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