360worldbtc.com Review: 360 World BTC a Scam Broker!

360WorldBTC Review
0.5

Summary

Unregulated broker received a ban from Italian financial regulator CONSOB.

Don’t be caught into their trap because the broker is offering a wide range of assets and features that might attract newbies.

But we’re insisting that they should seek to be regulated and fully licensed to be recommended by us.

In the meantime, if you’re looking for a Forex trading robot or indicator, visit this page.

You might think that 360WorldBTC is strictly about Bitcoin trading but this is not the case.

The broker is actually offering a wide variety of trading instruments to its customers. These include Forex, Gold, Silver, Oil, shares and indices.

Nonetheless, in this  360 World BTC review, we will not recommend this broker because they appear shady and potentially a scam.

Anyone intending to use the services of 360WorldBTC should approach with caution because the broker is clearly using deceptive tactics to gain clients whom they’ll end up scamming.

On the website of 360 World BTC, they claim that this brokerage is the property of a company called GAME CAPITAL ADS LIMITED.

360worldbtc review

They’ve listed their contact details as +442080788663 and +97316195023 respectively. They also claim that 360 World BTC is operating out of Switzerland, Aargauerstrasse 8005, Zurich.

The reason we have concluded that 360WorldBTC is a potential scam is because they are not regulated yet.

The Italian regulator known as CONSOB banned 360WorldBTC broker. But they’re still operating there in defiance. This should be treated as a red flag.

360WorldBTC review

This broker offers 4 different types of accounts for trading. They’re also offering the popular MT4 trading platform which is often preferred by many traders around the world.

The account details are as follows:

Minimum Deposit $250

Desktop and mobile trading: Yes

Video tutorials: Access is limited

Spreads: EURUSD attracts 2.4, AUDUSD 3.3, USDJPY 2.8

Spread type: fixed

Account Manager: Yes

Leverage: 1:200

Minimum Deposit $2,500

Desktop and mobile trading: Yes

Video tutorials: Access is limited

Assets: Base currencies, oil, silver and Gold

Spreads: EURUSD attracts 2.4, AUDUSD 2.0, USDJPY 1.4

Spread type: fixed and floating

Account Manager: Yes

Leverage: 1:200

Minimum Deposit is $20,000

Desktop and mobile trading: Yes

Video tutorials: Full access

Assets: all currencies, indices and shares

Spreads: EURUSD attracts 0.6, AUDUSD 1.3, USDJPY 0.6

Spread type: fixed and floating

Account Manager: Yes

Leverage: 1:200

Minimum Deposit is $50,000

Desktop and mobile trading: Yes

Video tutorials: Full access

Assets: all currencies, indices and shares

Spreads: EURUSD attracts 0.6, AUDUSD 1.3, USDJPY 0.6

Spread type: adjustable

Account Manager: Premium customer support

Leverage: Adjustable

The trading conditions above are not necessarily bad. However, 360 World BTC offers the best trading conditions to traders who deposit more money, which is not how professional brokers run their business.

360 World BTC Review: other features

The broker claims to offer ECN trading conditions with low swaps. This is a debatable statement since all unregulated brokers do not comply with full ECN conditions.

They claim that they offer low spread and sufficient liquidity. However, we’ve seen that traders who can enjoy the best spreads are those who will deposit $20,000 and above.

It is not recommended that you should deposit this much into an account that belongs to an unregulated broker.

The only advantages that they have (not compared to other brokers though) is that 360 World BTC is offering MT4 trading platform and 3 trading platforms respectively.

Traders should not use these advantages as the only factors to consider when choosing a broker. Otherwise they risk falling into the hands of scammers who masquerade as professional brokers.

360WorldBTC is Not Regulated

The broker is only providing their company registration number 584538 and not regulatory status number at all.

Even the company they claim to be associated with GAME CAPITAL ADS LIMITED has been banned by Italian financial regulator, CONSOB. 

Alongside Game Capital Ads Ltd, other banned entities include capitaltech24.com, evolutionbrokers.com and activbroker.com.

The bottom line is that you should never trade with an unregulated broker or a company that was recently banned by any financial regulator.

They are banned when they engage in illegal activities that breach agreement between the financial regulators and the offending companies.

These financial regulators often act in the best interest of traders. One of the requirements set by these financial regulators is that brokers must have segregated accounts for keeping their client’s funds.

In addition to this, the financial regulators always want brokers to operate business with insurance that entitles each client to a certain amount of compensation in case the company is dissolved.

These are just some of the things that regulators are strict about. If a shady broker like 360 World BTC cannot adhere to these requirements, they’ll receive a ban instantly.

Conclusion

360WorldBTC is definitely a shady broker and trading with them can be dangerous.

They’re operating like Masdar Investments, Markets Soft, and many others. The best thing you can do is to avoid them at all cost.

Thanks for reading the 360 World BTC review.

Leave a Reply