BitBinaryFXtrade Review: Bitbinaryfxtrade.com Another Scam

BitBinaryFXtrade is a company that showers itself praises. Unfortunately, this is not a company that you should entrust with your funds. The entity is a dirty Ponzi scheme that we are going to expose. In case you want to start trading online we suggest that you look for a more transparent firm.

In this review, we shall expose the shadiness of this venture. The company claims that it is a forex, indices, and CFDs trustworthy broker in the market. They allegedly already have over 230K investors. However, this entity is nowhere close to becoming a leading venture.

Nonetheless, BitBinaryFXtrade states investors can execute a trade within seconds. Therefore, by trading with them you will accomplish all your plans in time. It guaranteed a payout of 80% for the following currency pairs; USDJPY, EURUSD, GBPUSD.

Additionally, for BTC you will get 39% returns. We do not know the mechanism that this firm is using to earn these high profits. The assets they are dealing with are volatile and hard to determine the future outcome.

Invest with these top rated forex trading companies that have been in the industry for years. They are genuine and transparent. Moreover, a lot of investors have already tried them out. Their customer support is responsive and professional.

BitBinaryFXtrade.com Review

BitBinaryFXtrade is an index, bonds, commodities, energies, metals, and shares broker. Moreover, this venture claims it has won an award for being a reliable broker in2019. Additionally, it also showcases another 2019 award for the best trading company.

However, this is a Ponzi scheme that cannot be consistent with the lies that it avails. For instance, the broker was registered in 2020 June. The company does not mention being in the market using a different name.

Therefore, the entity has not received any award. It is capable of saying using false data to acquire more clients. You need to be keen on these kinds of platforms. Moreover, BitBinaryFXtrade is engaging with binary options services.

The platform guarantees a reward of 90% to newbies investors. Additionally, the trading signals that the broker avails have a win rate of 60%. However, Binary options are very risky and the EU regulator has banned them.

It is easy to lose all your savings in a matter of seconds. BitBinaryFXtrade is a get-rich-quick scheme that is not performing investment services. Instead of exposing yourself to all these risks, it is best to look for a more reliable option.

Contact Details and Contact Details

The company is allegedly based at 2710 Coast Ave, Mountain View, CA, 95843, USA. The customer support can be contacted at their office hours. The broker also has a telephone number and an email address available.

However, there is no possible way that this Ponzi scheme is situated in the USA. They are only putting up this information to get more victims. We highly suspect that this is their target audience location.

 

BitBinaryFXtrade is a scam that would not openly display its operational area. This would lead the authority to their den. They would be arrested for collecting funds illegally from the member of the public.

The dirty scheme is likely to blacklist you once you start following up on your money. Additionally, they can also change their phone number to avoid being nagged. There are no trading activities taking place in their scheme.

Regulation and Registration of BitBinaryFXtrade

BitBinaryFXtrade chooses to lie that it is a USA forex trading broker. The country has strict rules for investment firms than all other countries. A platform must comply with the NFA financial watchdog.

The company claims that it has the right to stop offering its services to clients that come from a country that is limited by their financial bodies to invest with them. However, this broker should be the one that abides with the local jurisdiction from all the countries it is collecting funds from.

BitBinaryFXtrade does not offer fund safety to their customers. Moreover, your personal data might also be sold to third parties. There is no assurance that the broker will be available in the market in the future.

You expose yourself to several risks by signing up with them. The people that are behind this scam are anonymous. Therefore, it will be hard for the authority to get hold of them. Trade with caution and look after yourself.

BitBinaryFXtrade Trading Conditions

The broker is a web-based interface. This is a lazy Ponzi scheme that cannot get its own charts. They are using TradingView charts. We are in doubt whether this entity is offering forex trading activities.

There is no information regarding the leverage to expect. Their involvement with binary options trading makes us not trust them. When they leave out such essential information we can only assume the worst.

Withdrawal and Deposits

BitBinaryFXtrade showcase multiple payment methods which include; Wire Transfer, Perfect Money, Skrill, Debit/credit card, and Neteller. Unfortunately, it turns out that the only payment method is BTC.

This is a confirmation that the broker is involved with illegal services. It will be impossible to get back your money. They will go to the scammers’ wallets. The platform does not have a minimum deposit.

The lack of a standard amount makes them quote different prices for various clients depending on either your country of origin or financial status. Usually, legit forex trading ventures will have a uniform standard minimal deposit.

The least amount to cash out is $20. BitBinaryFXtrade does not disclose whether there are fees applicable when withdrawing. However, the entity claims that it grants one free cash out every month.

The fact that the firm is not clear about the fees it probably because they are high. The dormant account policy is also left behind. Investors should approach this entity with caution. They will defraud you leaving you high and dry.

The Domain Insight

The company is registered for a period of one year. You should take this as a red flag. The only thing that they have is an SSL certificate. Unfortunately, this is not enough to prove that your information is secure. The company can still sell your data to third parties.

Moreover, the identity of the person managing this website is hidden. The traffic visiting the website is also very low. The payment method that BitBinaryFXtrade uses is common with the Ponzi scheme.

The platform does not have clients’ feedback. The only thing that we encountered during our research is reviews from financial analysts warning investors against trading with this broker. The red flags we have discussed above are enough to keep you away from the broker.

Final Verdict

The company is a nasty scam that is not worth your time. It displays false information that makes us not recommend them to the public. The entity is lying about having won awards. Additionally, they leave out critical information regarding the withdrawal and deposit info.

Moreover, this is an illegal entity that should be shut down. They are violating the jurisdiction of several countries by collecting money without the necessary documentation. The customer support of this broker is also not responsive.

Invest with legit forex trading companies that have been in the industry for years. You will earn passive income while enjoying top-notch security. The financial watchdog that supervised the operation of these platforms is reputable.

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