BTC Tradings is a Cryptocurrency broker offering a wide range of trading instruments. These include (CFDs) Energies, Spot metals, Bonds, commodities, indices and stocks like Google, Facebook etc.
There’s a wide selection of trading instruments offered by BTCTradings which might appeal to new traders looking for opportunities to scalp the market.
BTC Tradings wants investors who trade bonds to know that they’re offering Euro Bonds to UK Gilts and US 10-year Treasury Notes.
They’re listing down their physical address as Storm Complex LTD 43 kaymakchalan st, Sofia city, Slatina region, Sofia, Bulgaria 1505.
This BTC Tradings address is quite controversial because Bulgaria is considered an ideal off-shore location for shady brokers.
Furthermore, the Crypto broker does not say anything about their regulatory status. We’ve checked the website and found no license.
Common sense would demand answers as to why a professional trader would want to risk their money with an unregulated broker in the first place.
Already trading is a difficult business. It should be the priority of traders to make sure that the basics are covered so they can concentrate on the education and experience of making the best out of the market.
Is BTCTradings a scam broker? We think so or at least putting one’s money into their bank account can prove to be a dangerous thing to do.
We’ll support our assertion in the rest of this review using well-researched facts. We’ve done it with reviews covering some of the most infamous Forex trading operations.
BTC Tradings Review
First of all, the features provided by this broker are amazing and attractive. The diverse range of trading instruments and the professional website can make a new investor fall for them.
Among the features that they advertise on their website include the following:
- Cross device compatibility
- User intuitiveness
- BTC Tradings Academy for educating new traders
- Professional customer support
- Quick fund withdrawal
- Trading on the go for iOS and Android
- Access to a wide range of trading tools such as indicators, charts, calendar of events etc
However, the most outstanding feature that BTC Tradings claims to offer is the award-winning Crypto trading platform.
They want traders to know that this Crypto trading platform is quite intuitive and easy to use. For traders who have no idea how to get started, webinars, seminars, trading tools and market analysis are provided.
BTCTradings review: account types
There are 6 account types offered by this Crypto broker.
The account types have been dubbed Micro, Bronze, Silver, Gold, Platinum and Diamond. We’ve noticed that most of these account types require ridiculously low minimum deposits.
For example, Micro account can be opened with at least 5 Tether (USDT) which is an equivalent of $4.99. Other account types require 25 Tether, 75 Tether and 150 Tether respectively.
Platinum and Diamond account types require the same amount of minimum deposit which is 500 Tether.
We tested the trading platform offered by this Crypto broker and observed that it was indeed intuitive. However, it feels like the same trading platform offered by Binary options brokers such as IQOption and Olymp Trade.
It is quite endowed with features that a trader would require to make an informed decision when it comes to efficient trading.
They’ve also included live video stream of news events which is a significant addition to the trading platform.
Apart from this, we feel that the minimum deposits were quite affordable but could also be a trap to attract as many traders as possible.
Once this happens, they can decide to increase the minimum deposit or run away with the money if that would be an attractive option.
Background of BTC Tradings Broker
We only have the physical address and not the name of the company running this Crypto broker.
Secondly, this broker just came into the market the other day. They registered the domain btctradings.com in July 2019 while hiding the details of the person who registered the domain.
Lack of information about this broker is one of the main reasons why we are afraid to trust them 100%. If they’re anonymous, what makes you believe they’re a reliable broker.
With no disclosure of the company or person in charge of the operations of this Crypto broker, one cannot trust this broker with a significant amount of funds.
Are funds safe in the hands of this broker?
BTC Tradings is not a regulated broker. In the UK and Australia for example, brokers are required by law to operate under the observation of regulatory authorities.
One of the requirements here is that all brokers must keep the funds of their clients in a segregated account. If BTCtradings is not regulated, there’s no way they can keep your funds in a segregated account where they’re 100 safe from the firm’s operational capital.
Therefore, in short, your funds are not safe in the hands of this broker.
Is BTC Tradings a scam?
It is not immediately clear whether this is a scam or not but there’s a chance they can scam traders since everything is perfectly aligned in this direction.
With anonymous company operators and lack of regulation, traders stand a chance of losing their money. It does not matter whether they offer attractive features or not.
Having analyzed everything about this website, we feel that it is not safe to trust BTC Tradings with your funds. In fact, there’s no reason a Crypto trader would prefer this broker as opposed to the regulated and well-known ones.
Also, if you’re a trader who would like to invest in Forex trading, you need to check out this list of some important trading tools to consider.