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FXBTC Review: Fxbtc.io Abate Forex Scam Exposed

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FXBTC Review: Fxbtc.io Abate Forex Scam Exposed

FXBTC (Fxbtc.io) is claiming to offer private investors a complete and easy tool-set to help them boost their trading results. FX BTC is another CFDs and Cryptocurrency trading platform with a warning alert issued by a leading regulatory body. They claim to have access to over 150 trading instruments and a 24/5 support team. Other claims include having a trading academy. For more, read this genuine and transparent FXBTC Review.

FXBTC Review

About FXBTC

They claim to be a cutting edge trading platform that delivers on their promise. FXBTC is nothing but another online scam that is led by offshore brokers. They could not get a valid trading license and are now stealing from traders. These scam artists have created a cloned website that looks real but is a trap. Once you deposit with this platform, it is the last you will see of it. Thanks to our candid and thorough investigation team, we do have their traps exposed for all.

Beware of FXBTC as they use enticing sales pitches to get traders to sign up. Some of these sales pitches include giving traders the opportunity to capitalize on market trends. They go ahead and claim to have a team of experienced experts behind them. The internet is awash with complaints from members who had signed up a while ago. Most of them claim to have fallen victim after failing to see any trading materialize. When they opted to withdraw funds, these scam artists blocked some of their accounts.

Assets Available

The platform claims to offer Forex and Simplex as their main trading assets. They also pit other major currencies against Bitcoin which makes them a Crypto asset holder. Traders get floating spreads with zero deposit fees; this is according to their website. Members are promised a personal bonus policy which none of them has experienced to date. The platform offers aggregating mode only for their basic account and hedging for other account types. These are not good enough reasons to sign up with an offshore platform.

Business Owner

Not much has been given regarding the names of the so-called professionals behind this platform. Most of them claim to have been expert in online trading and yet, no name is given. Scam artists tend to leave their actual names out of the way. They fear the response they would get from members of the public. These scam artists have perfected the art of staying behind the curtains. And this is why we are stating FXBTC is an anonymous trading platform that must be avoided at all costs.

Domain Details of FXBTC

A look at the trusted domain register whoisAPI reveals the platform is barely 200 days old. The website was created on 26 November 2019. It shows that FXBTC is using false information to throw off investors. Claim of having over ten years of trading experience is a lie. No investor should sign up with them since the platform was registered in Panama. These are offshore brokers who have nothing else to do but steal from unsuspecting investors. And this is why exposing them will help investors to stay away. Use tested and trusted brokers to stay safe trading online.

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License and Registration of FXBTC

FXBTC FCA Warning

When it comes to their valid trading documents, FXBTC does not have any certification. One would expect a platform to have their license number displayed on the homepage. The platform does not post copies of their license details which is suspicious. FXBTC is NOT LICESNED OR REGULATED by any official body to offer trading services. And this is the main reason why they don’t have necessary documents. They are an unregulated offshore entity with malice intent.

The official regulatory body in the UK has put out an alert on this platform. Members have been complaining and the Financial Conduct Authority has issued a stern warning. The platform has been flagged as an anonymous platform with no valid trading license. They also use another name Alpha Capital Technology to try and fool investors. And this is why we must expose these scam artists. More and more victims would have fallen for this trap if the regulatory had not issued a warning.

Limitations of FXBTC

Account Details

FXBTC Account types

FXBTC is issuing traders with five account types on their website. The accounts listed include Starter, Advanced, Expert, VIP, and Islamic Account. These accounts come with a personal account manager who has no trading experience. One of the main highlights is they fail to post any depository requirement price. Scam artists will knowingly fail to list the minimum deposit price for a reason. They hope to squeeze every dollar from the client by asking for insane depository amounts. Use approved and vetted Forex trading robots as a proven alternative when you want to trade safely.

Account Managers

The platform claims to offer account managers for every account type. What we later learned is they don’t actually have personal account managers. These scam artists have decided to hire call agents to act as account managers. And this is what makes the platform a scam as they have staff members who are not experienced. These account managers bombard members with phone calls urging them to withdraw funds every day. And this is why we must denounce the platform with every ounce.

Contact and Customer Support

Even though they claim to offer 24/5 support, this is far from the truth. We tried contacting them during working days and their agents were unavailable. The platform uses a chat bot to act as a communication liaison between members and the platform. What makes us doubt their method is users have to give out personal details before chat resumes. Once you give them your contact details, they will call you with deposit requests. It is better not to share your personal data with unknown third parties.

Depository and withdrawal options

Depository and withdrawal options available include MasterCard, Wire Transfer, and Visa. The platform claims to have no depository fee which is not new with any trading platform. We did notice they don’t offer a majority of other recognized depository channels. It would be best to have Neteller and Skrill as part of the payment methods. The problem with FXBTC is they never allow anyone to make withdrawals. No withdrawal proof has been posted by any of the members.

Trading Platform

FXBTC is claiming to use an award winning trading platform which is far from the truth. They use a web based platform which fails to pass testing. We did notice some serious issues such as the platform being highly unstable. The instability was due to lack of proper security features to protect against third party attacks. Hackers find such platforms as an easy score for online credit card fraud.

Safety of funds with FXBTC

When it comes to security of funds with the platform, no one is safe. Lack of DDoS and SSL encryption is enough to make everyone fall victim to hacking. These scam artists never segregate their accounts as they prefer to pool funds in one single account. And this leads to more risks as members are depositing funds straight to owner’s bank account. Stay away as FXBTC is putting their members at risk. The platform does not insure funds as dictated by trading governing body.

Scam or legit

FXBTC Trading Platform

Evidence shows FXBTC is a scam that should be avoided. These scam artists have been flagged down by the FCA and it spells trouble. Warn your family and friends from joining any of their affiliate programs. Mark all their emails as spam and never give your personal details to their call agents.

Verdict

We have to add this platform on our blacklist as it has been flagged down by the FCA. Please do continue reading our reviews for more on online trading products and services.

Wishing everyone a safe trading experience.

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