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Today’s review focuses on a controversial website called BTC-trends.com.
Btc-trends is proclaiming that they’re the New era of trading, and they provide world-class trading platform in addition to 24/7 support through video tutorials and 1-on-1 coaching.
BTC-trends wants traders to sign up and start trading on their platform even with no prior experience.
The broker believes that consuming their tutorials will prepare traders sufficiently.
This is definitely not the case, and if you try it, you will fail. Traders need proper training and experience before they can succeed.
This is why we recommend these automated trading resources, because learning to trade can be an uphill task for the impatient.
That aside, we feel that Btc-trends does not inspire enough confidence in their presentation, mainly because they’re anonymous, unregulated and untrustworthy.
The broker claims to provide over 50 tradeable assets.
However, when we signed up and logged into the trading platform, the tradeable assets were actually less than 30.
We also didn’t see any provision to open a demo account where we could test their trading conditions.
In this era, brokers will provide you with a demo account to test your skills, and this is a must-have feature.
Trading accounts can be opened in BTC and Tether respectively.
While signing up, the broker will force you to provide your phone number.
Due to the issues that we’ll raise later in this BTC-trends.com review, we feel that providing personal contact information to the broker isn’t the best idea.
Who knows whether they’ll sell your personal information to a third party?
Account types offered by this broker
They offer 5 different account types, and the minimum deposit is abnormally high.
Most brokers with no demo accounts will let you trade with a minimum deposit starting $10.
However, BTC-trends.com actually wants traders to deposit a minimum of 5,000 USDT.
The account types are as follows:
|Account||Daily Analysis||A/C Manager||Support||Min deposit|
There are problems with how they present the information in their account types.
First of all, BTC-trends does not talk about their Platinum account type.
Instead, they want us to contact an account manager to learn the benefits of opening this account.
Ideally this information should be published on their website to ensure efficiency and maximum transparency.
Also, premium support isn’t available on other account types yet for a minimum deposit of 5,000 USDT, you’d get premium support from all professional brokers on the internet.
With such a high deposit requirement, one would be left wondering whether to risk their money or request for a demo if any.
All in all, this is not the way to go in this industry, and we definitely find it quite awkward.
BTC-trends.com trading platform
Despite the awkwardness of this website, we still created time to login and see whether this broker was truly offering the said features.
The first thing to take note of is that this is neither an MT4 nor an MT5 trading platform.
Genuine brokers will provide either of these platforms for trading and not some strange in-house software like that which BTC trends is offering.
Secondly, we didn’t find any feature that would allow increasing or descreasing leverage.
Yet BTC-trends.com claims that they offer leverage starting 100 and up to 400.
Deposits and withdrawals
Deposits and withdrawals can be done in Visa, MasterCard, Bitcoin, Gumballpay and Noy Wallet.
We’re not familiar with the last two payment methods.
However, what we know is that it is impossible to initiate a chargeback on Bitcoin transactions.
But the good news is that Visa and MasterCard transactions will allow chargebacks, provided the transaction occurred within 540 days.
Due to lack of reviews and customer feedback, we don’t know whether btc-trends.com actually releases funds to its customers.
BTC-trends.com was registered in August 2020. This shows that the site is very new and not yet established.
Their Alexa ranking also shows that the site is not receiving as much traffic.
This could mean that they don’t have any customers just yet.
It is recommended that traders should only rely on established brokers because new brokers keep popping up and disappearing as soon as they’ve committed an evil act.
Who owns BTC-trends.com?
They claim on their website that the business is run by Cordelino Ltd.
They also claim that this company is incorporated in the St. Vincent and the Grenadines.
When we researched the directories on the internet, we failed to identity a registered company by the name Cordelino Ltd.
It appears that BTC-trends.com has never officially registered their business or company.
This is the reason we couldn’t find information about the anonymous company mentioned on their terms and conditions page.
Furthermore, BTC-trends.com does not talk about their CEO or other people related to this company.
Their “about us” page is just a thick blog of paragraphs containing generic statements of their mission, vision, values and commitment.
Therefore, the service remains anonymous with nobody to account for their activities or even the safety of customer information on their platform.
A lot has been said about BTC trends but one thing is coming out quite clearly: they are untrustworthy.
They ought to be regulated and compliant with the financial oversight authority in their country.
However, as you can see, they’ve decided to setup base in a jurisdiction known for weak regulations, hence the reason they can get away if they scam you.
We also don’t know the CEO of this compoany. It is literally anonymous, thanks to the fact that even the company Cordelino Ltd is not registered anywhere.
The probability of losing money here is very high. We therefore warn all traders against being taken advantage of.
If you want to actually trade and make money, you can use professional and well-regulated brokers as they appear in this list.
In the meantime, keep it in mind that BTC-trends.com is where people lose their deposits to scammers.