BitXTrade Review: BitXTrade online Scam? Find out from experts
You have to deal with the same spreads when you sign up with the MAM account. It’s the fact that you will have to give 50% of whatever profits you make on your account back to the broker. Yes, there is no denying that the broker will be trading on your behalf in this particular account. But why does the broker have to take money from you in two different forms? Why do you have to give money to the broker in the form of spreads as well? These differences in accounts types from the broker can be startling for some.
EXCBC – SCAM or real broker? Reviews
- Doing this gives a clearer idea how a broker might work.
- If you check the BitXTrade domain, it turns out that it was registered in 2018.
- But a detailed check by specialists and experienced traders only confirmed that the project is a scam.
- However, there are no registration numbers or documents on the site.
- In fact, there are many reputed brokers that require you to only deposit $5 to start trading.
Not to mention, it puts the trader in a lot of danger as well. When you sign up with an online broker, you are putting your trust in it. You know that the broker will take care of your account, money, and information while you busy yourself in learning how to trade. However, if the broker you are signing up with does not sound, look, and feel professional, you might not be at peace while signing up with it at all. And if you make the mistake of opening an account with such a broker, you will only regret for life.
- BitXTrade might be doing a lot of things right in other areas, but the aspects that we have stated above show its weaknesses.
- Licensing is another important part because we can trust aregulated broker to some extent not to do anything fraudulent.
- When we opened a new account with this broker to check the trading conditions and the type of platform, we found out that there was no platform.
- Summing up the results of a full check of the BitXTrade pseudo-broker site, we can say that this is another dummy.
BitXTrade – Advantages
When we opened a new account with this broker to check the trading conditions and the type of platform, we found out that there was no platform. In its place was a rudimentary dashboard bitxtrade where the only thing you could do was make deposits in Bitcoin. It is stated that BitXTrade is registered in Switzerland.
It turns out that the scammers bought the old domain in order to pretend that brokerage companies have been on the world stage for a long time and they are trusted. On the Internet you can already find a couple of real reviews from deceived people. The victims thought they could make money with a minimum deposit. As one would expect, BitXTrade has appropriated everything, and clients cannot return deposits. BitXTrade offers its clients 4 different types of trading accounts – the Starter Plan, the Premium Plan, the Delux Plan, and the Exclusive Plan. However, the only piece of information we have about the 4 account types is that minimum deposit requirement for the Starter Plan is $1,000.
In this portion of the review, we aim to explore the accounttypes a broker might have. We check the account with its corresponding depositand leverage. Doing this gives a clearer idea how a broker might work. You get trading bots so that you can carry out automated trading. You also get market indicators and charting tools to analyze the market trends better. This is the reason why we advise all traders to first carry out a background check on any broker they wish to contract with – before they invest in them.
