Active BitSignal Review: Is This Broker Trustworthy?
Active BitSignal’s website seems promising at first look. The company offers huge leverage and a wide range of trading instruments. To us, this makes it immediately clear that it is a scam, but to inexperienced traders, it may seem that they have finally found a broker where they can make money quickly and easily.
The main problem that users will have is the lack of regulation of Active BitSignal. In addition, information that should be included in legal documents is missing. The broker does not have a trading platform. The terms of the trade remain unknown. So, if you were thinking of investing with this company read the Active BitSignal review to the end.
Active BitSignal License and Regulations
As we have already mentioned, Active BitSignal is not a regulated broker and does not have a license to enter the financial market with its offer. The firm does not mention the license or the headquarters of the company.
The only thing Active BitSignal has said about their company in the Terms and Conditions is that they are not regulated due to the regulatory situation in the US. Yes, we know how difficult it is to get a license in the US, but this is yet another indication that we are dealing with an investment scam.
Unregulated companies are not overseen by anyone, which means they can do whatever they want, more precisely, this puts clients in a position where their funds and personal data are at risk.
How Do Offshore Brokers Implement Their Scam?
Illicit brokers run a scam using a well-established scheme. In this case, Active BitSignal highlights its amazing financial offer on the website. There is no regulation because, at the end of the day, fraudsters do not want a license, because it obliges them to certain business policy conditions, and all they want is to easily get hold of other people’s money.
In addition, the broker requires verification of the account immediately in order to get your personal data as soon as possible, which they can misuse. Also, it does not say anything about the withdrawals and additional costs that will certainly occur, because this allows them to reject your withdrawal request.
Trading Platform Overview
Active BitSignal promises MetaTrader 5 on the website. This is one of the favorite platforms among traders and for a good reason. As is usually the case with scam brokers, it turned out that the company was demanding account verification immediately, and they were asking for a lot of very personal information.
Every regulated broker will require you to verify your account at some point, but Active BitSignal requires it before making a deposit. This means that users have to register before they can even see if the conditions suit them.
This is part of the scam because if it turns out that Active BitSignal does not have a trading platform, no one will want to invest money. In addition, the firm did not offer a Demo Account so that a potential investor could see the conditions under which they would trade.
Active BitSignal Deposit and Withdrawal
We were unable to see the deposit methods that Active BitSignal accepts because we have not verified an account. This is a waving red flag because the brokerage does not provide any information until the account is created and verified.
This would mean that you do not know with whom and under what conditions you are doing business until you leave money and data. Since the firm only talks about Bitcoin in the FAQ, chances are that it is the only payment method that they accept.
And that’s also part of the scam that the broker is running because crypto transactions can’t be reversed. If this is the only payment method, we advise you not to deposit the money, because you will hardly ever get it back.
Active BitSignal Offers Bonuses and Promotions
There is no information on the website about what bonuses and promotions the company offer to clients, which doesn’t mean there aren’t any. The broker probably awards welcome bonuses after registration, along with specific trading conditions that are detrimental to clients.
Usually, fraudulent brokers give a bonus with which they demand that the turnover of the bonus and deposit be increased from 30 to 50 times, which is impossible to fulfill. This way, fraudsters disable the withdrawal request when users want to withdraw money.
Active BitSignal Summary
Active BitSignal is an investment scam, that tries to defraud inexperienced traders. There is so much information missing from the website, that any experienced trader would give up on investing upon entering the webpage.
There are no regulation details and no information about the headquarters of the company. The documents are short and unclear. In the FAQ, vague explanations are given about cryptocurrency. All this is a clear signal that it is a scam. Therefore, we advise you not to do business with Active BitSignal.
FAQs About Active BitSignal Broker
Is My Money Safe with Active BitSignal?
Your money is not safe with Active BitSignal broker.
Is Active BitSignal Regulated?
Active BitSignal is not a regulated broker.
Do Active BitSignal Offer a Demo Account?
Active BitSignal does not offer users a Demo Account.