Our review of BTCmarketz.com covers many aspects of the service to let you know whether they can compete with the most successful brokers around.
BTCmarketz is actually an offshore broker that provides a variety of trading instruments and up to 5 account types.
The trading instruments in question include Forex, Stocks, Shares, Commodities and Indices.
We understand that BTCmarketz is offering these instruments to be traded against Cryptocurrencies.
They claim that Cryptocurrencies are immune to inflation and the company is guaranteeing safety of funds.
A more in-depth explanation reveals that BTCmarketz is actually claiming that your deposit and unrealized profit will remain in your bank.
It’s not clear what this statement means. Furthermore, the offers that BTCmarketz are giving clients appear to be too good to be true.
Therefore, our review of the BTCmarketz will provide a clear way forward with regards to whether or not it is safe to use this broker.
Meanwhile, if you want to invest in genuine Crypto trading, consider looking for a professional website that can offer you that opportunity here.
The company is providing a Dominican address but nothing is actually known about them.
The domain was created in January 2020, so they are exactly 1 year old in the market.
Nevertheless, we’d like to see a proper introduction of who they are so they can at least inspire some trust in their clients.
Since they’ve failed terribly in implementing a proper about us page, we’ll not lie that we can trust them.
That said, we believe that BTCmarketz has one of the most attractive websites around.
Their offers sound tempting and of course they also provide bonuses up to 30 times your deposit.
Of course everything they promise you for free will always come with strict terms and conditions which the company will later use to deny withdrawals.
Account types offered by BTCmarketz
Their account types demand a very high minimum deposit but are not making it clear from the word go.
It would seem that they’re willing to accept any minimum deposit and at the same time encouraging deposits as high as USDT5,000.
Here’s a quick review of the different types of accounts offered by BTCmarketz.
|Micro||Up to 5,000 USDT||24hour customer service, daily analysis|
|Bronze||Up to 25,000 USDT||24h customer service, dedicated account manager, daily analysis|
|Silver||Up to 75,000 USDT||24h customer service, dedicated account manager, daily analysis|
|Gold||Up to 150,000 USDT||24h customer service, dedicated account manager, daily analysis|
|Platinum||Up to 500,000 USDT||24h customer service, dedicated account manager, daily analysis|
From the table above, we fail to find information about the type of trading platform that they’re using.
Obviously it’s not the popular MT4 trading platform. Majority of traders out here prefer this platform to any other due to its stability and flexibility.
Furthermore, we would like more information about the cost of trading with BTCmarketz.
Unfortunately, they’ve not provided insights on their spreads.
The only thing they’ve covered is their leverage which they claim can be from 100 up to 400.
Deposits and withdrawals plus fees
Watch out for BTCmarketz’s terms and conditions for they can be treacherous.
They claim that the minimum withdrawal that will be processed is $50.
They’ve also hidden their fees in a long terms and conditions statement.
Most traders won’t read the whole document but here’s the thing;
If you want to withdraw your deposit and you had accepted a bonus, BTCmarketz will deduct 30% from your account balance.
They call it “penalty” fees. The way we see it is that this is a way to make life even more difficult for you.
Their website also shows logos of the most famous payment processors such as Visa, MasterCard, Skrill, Neteller, Wire transfer and JCB.
We think these logos have been slapped on this website for decorative purposes.
The truth is that deposits are only accepted in Tether and to some extent, in wire transfers.
Is BTCmarketz regulated?
No, they are not regulated, which makes them very dangerous to trade with.
If they offer Forex trading, they should not pretend that they don’t need to be regulated.
Furthermore, the broker is based in an offshore location (according to their address).
Basically, this is a rich ingredient for getting scammed.
As you can see, they are encouraging traders to deposit any amount including astronomical amounts of money.
They’ve employed expert boiler room con artists who are masters of deceit. Their aim is to sweet talk victims into placing more deposit.
Nobody in their right mindset would utilize BTCmarketz, thinking that they will better their future.
There are several types of these scams on the internet which use very professional website layouts but underneath, they are just thieves.
You should just avoid such offshore brokers if you want your money to be safe.
We close this review by saying they are potentially a scam.