Btrades Review: Shady Conditions, Platform, and Fees Revealed
Btrades company is one of those that shamelessly offers protection without any credibility. Apparently, this company has a daily trading volume of 25.000 BTC. But with their registration in March 2023, we highly doubt it.
This is just one of many irregularities traders can find. To discover them all and stay protected, read our Btrades review until the end.
|Active Forex and Crypto Scam
|Financial Authorities Warnings
|e-mail; live chat
|If a withdrawal is possible
|If Active on Social Media:
|Brazil, India, United States, Italy, France
|Hidden legal information; no regulations; hidden fees
Regulation and Security Weakest Points
Important to realize is that this company doesn’t reveal its legal ownership details. Neither do they reveal who founded this brand. Even though that made the research harder, we managed to exploit some results.
In the first place, this company is far from regulated. They don’t have FCA, BaFin, or ASIC licenses. Neither do they have any funds protection measures, such as compensation schemes, guaranteed stop-loss, or negative balance protection.
Instead, the thing they have got is a warning from the FCA. With this in mind, you can’t trust this brokerage a bit.
What Features Can Traders Expect?
Whatever features they offer, there’s no proof these work, at least not through Btrades reviews. Not even the testimonial section on the company’s website holds any information whatsoever. That tells you enough about their legitimacy.
Anyway, the company claims to offer cryptocurrency and forex trading, but also crypto exchange services. Still, with their poorly designed web-based platform and exchange, we highly doubt those services are secured. Instead, you should look for brokerages that offer trusted third-party services. For instance, MetaTrader or cTrader. Only then can you expect some decent level of transparency and security.
Trading Conditions and Fees
Another huge disappointment comes with a lack of transparency about trading conditions and fees. Since access to the platform is not granted to unregistered users and a demo account is not available either, it’s hard to test any.
Nevertheless, you can already assume what steps the company is taking. No broker with non-transparent conditions can be trusted, no matter what. To see what fees companies should reveal to customers, read our Zeta Trade review.
Account Types Reveal Zero Benefits
Generally speaking, account types are there to motivate customers to deposit and trade more. In return, traders often get better trading conditions, exclusive deals, and a wide range of benefits. Sadly, that’s not the case with Btrades broker.
Anyway, the options are:
- Starter – $1.000
- Silver – $10.000
- Gold – $50.000
- Diamond – $100.000
Fairly, this minimum deposit requirement is way higher compared to the ones that tier 1 licensed brokers offer. Not to mention, those companies often offer micro accounts as well, starting at $5. At least you can see more of Btrades scam signs.
Deposit and Withdrawal Options
Like anything else with this company, funding methods are hidden. Unfortunately, only verified users can see all the options. But nowhere is seen that the company mentions bank or card transfers. After all, that’s why they are hiding legal documentation.
But if you think about it, that’s exactly the purpose of Btrades exchange. They will lure you to deposit money in crypto. However, you won’t be purchasing any, but you will send money straight into their pocket. Once you decide to withdraw the funds, problems will start, such as AML and KYC issues, non-existent fees, or taxes.
How To Get In Touch With This Broker?
All the features available with the Btrades trading company are designed to keep them anonymous. Therefore, the company doesn’t offer any legitimate contact channels. Neither do they reveal the address where you can contact them or meet them.
Instead, they just offer e-mail and live chat features. Practically, they are hiding behind the keyboard. But to see how fairly legitimate companies do this, check our Trade Republic review.
General Conclusion: Is There Adequate Alternative To Scam Brokers?
Scam brokerages usually offer unrealistic things, such as fast returns, insanely low fees, and auto-trading options. But all this falls down the drain if you can’t withdraw the funds even if everything works. Yes, we know that trading with regulated brokerages requires knowledge and time.
Still, once you master the craft, you can enjoy trading without any concerns, especially if you combine AI tools that are highly popular nowadays. We are sure that if you choose any Tier 1 licensed broker of your choice and implement the AI Analysis Tool feature, you can change your trading path. After all, you can just send us a message and see what it is all about without any obligations.
How Can I Make Money While Trading Online?
Overall, trading with unregulated firms is never a good choice. Traders get scammed one way or another. Primarily because they don’t have any fund protection features. On top of that, scam companies often use shady software choices.
Therefore, our suggestion is to stick to licensed companies and trusted tools. One of the popular choices currently is the AI Analysis Tool. With options to forecast market movement and to provide in-detail analysis, it became quite a useful tool in the trading arsenal. In general, that’s not surprising, knowing how quickly AI tools overflew the market.
We understand that traders are skeptical, especially about unregulated entities. If you are sick of those, there’s a simple solution. Find any top-tier regulated company, start using AI Analysis Tool, and see how things change. To see more benefits of this AI Analysis Tool, contact our specialists and book your meeting.
What is Btrades?
Btrades is a Forex and Crypto brokerage operating fairly non-transparently since March 2023.
Is Btrades a Regulated Broker and Crypto Provider?
To sum it up, no. The company is not authorized to provide crypto trading or forex trading services by any regulator.
How Can I Withdraw From My Btrades Account?
Withdrawing funds from this brokerage is a mystery since they are hiding withdrawal policies.