BtcBrokerz forex broker is another crypto broker that plays fast and loose as regards to the information it provides. In the review below, we take an in-depth look at the features BtcBrokerz allegedly offers. This review basically answer the questions: is BtcBrokerz legit? Is BtcBrokerz reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Btc Brokerz
Table of Contents
BtcBrokerz Trading Platform
At first glance we discover that this broker doesn’t broker support neither the MT4 nor the MT5 trading platform. They use a web-based platform to offer assets such as Crypto vs USDT, Crypto vs CryptoIndices, Stocks vs BTC, and Stocks vs USDT with leverage capped at 1
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BtcBrokerz Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has
BtcBrokerz Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a crypto method for funding. We do not advise you to send any funds to them as transactions with crypto are hard if not impossible to trace or reverse
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Btc Brokerz Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
This broker is unregulated, we have seen an up spike in unlicensed brokers, one of the recent ones we reviewed is crypto800
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.
Hi,
do not invest any money in this broker. because you want be able to make any withdraws. so finaly your investment is gone.
hope to help any further people.
Teddy