Bitcointrades24 Review: Yet another Scam Broker - Topedgefx.com

Bitcointrades24 Review: Yet another Scam Broker

Welcome to the Bitcointrades24 review.

Bitcointrades24 (also calling themselves CryptoVault24) is claiming to be one of the fastest growing online trading brand in the world.

They tout 15 years of experience in the industry yet the website first appeared online in October 2019.

While they claim to offer binary options for trading, their website also depict that they’re offering trading and investing in Forex and Bitcoin.

The sales page even claims that Bitcointrades24.com is providing the best service to its clients in order to achieve client trust and satisfaction.

bitcointrades24 review

This is a very new website and ownership information is not known. They claim to be headquartered in Manchester, UK and are regulated by the FCA.

These claims cannot be authenticated since Bitcointrades24 does not provide its license number or anything to do with the company that runs their brokerage services.

We have always warned that traders must never invest with anonymous and unregulated brokers due to the risk associated with them.

In the meantime, traders looking for professional brokers can consult this list for a good collection of brokers who are regulated and are offering excellent trading conditions.

Bitcointrades24 review

The entire website of this broker is laughable at best. It resembles a ponzi scheme website rather than that of a serious brokerage company.

Their about us page is filled with vague information and lies.

The website is trying to sell 2 types of services; trading on CFDs/binary options and investing on managed accounts.

At the same time, they talk about expert advisors, business planning and all of those other unrelated things.

We wonder how a binary options broker can start talking about expert advisors when they don’t offer MT4 trading platform where Forex expert advisors can be used.

They claim that BitcoinTrades24 has now expanded their product offering to include stock trading, ETF trading and Forex trading.

We’re yet to see the kind of trading platform which they use to offer these financial instruments since it’s crystal clear that BitcoinTrades24 neither runs the MT4 software nor the cTrader platforms.

Bitcoin Trades 24 review: inconsistent business information

They’ve provided a certificate of incorporation on their website. We’ve tried scrutinizing the “document” but unfortunately it is ineligible and can’t be magnified to view the details.

Now the weird thing is that the document is titled “Territory of the Virgin Islands”. Somewhere on the document, they’re suggesting that Bitcoin Trades 24 is the property of a company called BitcoinTrades24 & Finance Group Inc.

Truth is that no such company has ever been incorporated. We’ve researched and failed to find any meaningful lead that confirms to us that such a company ever existed.

A supposed brokerage website that openly lies and does not want to introduce the admins is definitely a suspicious investment operation.

In addition to this. BitcoinTrades24 claims to have attracted over 4,000 clients on their platform, thanks to their 15 years of experience.

We’re wondering whether these claims can be verified since the numbers are obviously made up. There’s no way this broker can have this number of users yet no feedback is coming forth from any of the alleged customers.

BitcoinTrades24 review: account types

There are 4 different account types called “plans”.

These plans look like those of a ponzi scheme website as opposed to a website that provides trading services in binary options.

They’ve listed some bonuses and included 24/5 support as the main features for their investment plans.

These plans don’t seem like the traditional trading accounts for binary options. In fact, Bitcoin Trades 24 wants traders to deposit funds right away.

Another thing is that they don’t have demos for practice which is a huge red flag.

Be wary of websites that claim to provide brokerages services yet they can’t let traders sample what they have through a demo account.

Conclusion

Bitcoin Trades 24 is a pathetic website touting investment snake oil.

They’re not going to manage your wealth for you. Instead, they’re going to take your money and ultimately disappear.

BitcoinTrades24 is actually not providing a trading platform. There’s no financial instrument to trade either.

Thanks for reading this BitcoinTrades24 review. Stay away from this broker because their website is full of lies, just like 24Trades.net and other scam websites.

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