GOT SCAMMED by a broker? Fill out this form to schedule FREE consultation with experts who will assist you recover your funds.
This BitcoinXE review will let you know that this broker is a wolf in sheep skin since the website is operated by big-time Forex scammers who use nice words to deceive their victims. Bitcoinxe.io is the address of the scam site in question. Beware!
As we studied the fraud, we noticed that the website is very new. Actually Bitcoinxe surfaced online in June 2022. The broker is too new to be trusted with any kind of investment. Furthermore, we’ve noted that the site is hosted for a duration of 1 year after which the anonymous owners will decide whether to renew it or not.
Are you looking for a good investment platform or Forex broker? Here is a list of brokers and investment platforms we recommend for your financial success.
This means that there’s a potential for this website disappearing with their customers’ funds after a short while. If we give them the benefit of doubt, then we will be taking an unworthy risk.
This is why we’re writing this Bitcoinxe review and warning you in advance.
We emphasize that if you’ve lost money in this scam or through a similar broker that cheated you with nice and encouraging words, you can apply for chargeback here. Actually you’ll be assisted through the process until you successfully get your funds back.
Bitcoinxe review and overview
The broker is anonymous as they’ve also refused to disclose company details as well as their location.
A phone number has been provided on the website suggesting that Bitcoinxe is operated out of the UK. However, we don’t want to be naive as scammers are fond of faking their location using telephone services that sell them numbers of foreign countries.
A scammer can be in St. Vincent and the Grenadines but calling you with a UK phone number.
The website is purporting to offer excellent trading services such as tight spreads, 24/7 customer service (No Forex broker works 24/7 as markets are closed on the weekends) and an advanced trading platform.
What they’re calling an ‘advanced trading platform’ is actually a Buy/Sell trading simulator that this broker uses to deceive its customers before taking their money.
A trader transfers money from their credit card or Crypto wallet into Bitcoinxe platform and once the balance has reflected on this shady platform, they are going to be presented with a Green and Red button for buying and selling ‘Securities’.
The interface will also show the potential profit to the victim before he can actually place the ‘trade’.
As usual, this is a very addictive computer game that preys on the victim’s greed and account balance. The user will keep ‘trading’ and making some ‘profit’ in between. However, for every 10 trades that they make, there will be at least 8 or 9 losses.
Ultimately, their deposit will dimish. Some victims add more money into their Bitcoinxe account hoping that they’ll trade better and recover their loss. This is a silly mistake because the deposit will still go down the drain regardless.
The platform is configured in such a way that only the broker can make money from you and not the vice versa. It’s a rigged package that the scammers use to harvest money from victims. The funds are laundered in offshore locations like Cyprus or the SVG. You fund their expensive lifestyle at the expense of suffering financial anguish.
We’d like to reiterate that trading CFDs is pure gambling as CFDs are prohibited in countries like the US (we highlighted this in our previous article here).
Bitcoinxe is not a regulated or licensed broker
Where do we start — now that this broker has even refused to disclose their country of origin?
If they’re in the UK, then we expect that they should be under the authority of the FCA. We checked them out on the FCA register and found that their name is missing.
This means that Bitcoinxe is not authorized to provide trading services in the UK.
The same is true in countries that regulate trading like the US, Canada, Australia etc. Bitcoinxe is not allowed to entice people to create an account on their platform.
It doesn’t catch us by surprise anyway, seeing that scammers are generally people who don’t follow the law.
They’re out to defraud you and they use fake trading platforms to extract money from your credit card.
If you don’t know how to get back your money, then your money is gone forever.
Wrapping it up
We’d like to stop talking because the point is home — we already know that Bitcoinxe is not a legitimate broker that can be trusted.
We need your comments down below as your input will protect others and make it difficult for scammers to continue doing their job.
To the Bitcoinxe.io folks: we need you to quit this grind and get another job. If you’re here for a good cause, prove yourself.
Thank you to all who read this review.
Are you searching for a reliable and legitimate investment platform or Forex broker? Here's a quick list of recommendations with 5 star rating.