Analysis of the Offers from BTC FX
On the market, BTC FX is presented as a company with licenses and a reliable status, providing trading on financial platforms. Interesting financial conditions are available on their website. However, it is necessary to critically evaluate the information about this firm by conducting an independent verification. Currently, there are only a few offers from users, so it is worth familiarizing yourself with all aspects of BTC FX.
Registration and Contacts, Website Evaluation
The webtdx.info portal does not provide the full functionality of an official website. This is evident from the simplicity of the menu, standard design, and low-quality content. There is no access to documents, information about the company’s history, FAQ sections, reviews, or team information. Also, there are no links to social networks or their accounts. Only sending an email or requesting a callback is possible.
When investigating the domain registration information, it was found that the registration took place in March 2022. The domain owner’s information and administrator contact information are hidden for confidentiality reasons. Such actions are typically taken by scammers creating scam projects.
There are no documents with contact information for BTC FX on the website, but the legal address in the Netherlands is mentioned in the bottom section of the page. This address is either incorrect or simply made up, as there is no such place on the map.
Fake Licenses and Regulatory Warnings
Scammers, like BTC FX, often provide fake license numbers, creating the illusion of deserved reliability. In the case of BTC FX, none of the promised licenses have actually been issued to them.
For example, license number 138/62 has not been issued by any Cypriot regulator (a similar license number document exists for another company).
There is also no licensing document with the specified number or the broker itself found in the lists of licensed organizations in Belize and Mauritius.
None of the European and international organizations have issued documentation to this fictitious company. Moreover, the UK Financial Conduct Authority even warned about the potential danger of BTC FX by blacklisting it.
After this, the scammers changed the domain from btcfx.one to webtdx.info and began to attract clients in the Russian market. They added a Russian-language version of the website, launched advertising on social networks, and actively attract clients. However, they have not received permission from the Central Bank, indicating their illegal activities.
Promises to Traders from BTC FX
The organizers of BTC FX filled the site with advertisements and false promises. The trading plans include:
- Starter – created just to attract attention. Rules: minimum deposit of 1 dollar and restrictions on the choice of trading assets, making professional trading impossible,
- Standard – minimum deposit starts from $1000. Access to all assets, including cryptocurrency, and the ability to insure the deposit,
- Premium – by depositing $10,000 into the account, the client receives deposit insurance services, round-the-clock support, and additional privileges.
All traders have the opportunity to use leverage of 1:100. The minimum spread is 0.1 points, and trades are promised to be executed within 30 milliseconds. However, without registration on international markets and working with reliable liquidity providers, these words have no meaning.
Reviews on Trading with BTC FX
Due to BTC FX’s recent appearance on the Russian market in March, there are no reviews from real users. Foreign traders also have not shared their experiences yet. If you have any information about working with BTC FX, please share your impressions.
Scammers’ Strategy
Companies like BTC FX are not brokers; they simply use trading terminal simulators to deceive. After registration, the client transfers funds to the scammers’ account, and their trading balance is filled with a virtual amount. Trades can be both successful and losing, but this does not affect real finances in any way. BTC FX will not pay the trader a single cent.
All withdrawal requests are blocked, and customer support justifies this with technical issues or incomplete verification. Some clients are offered by fraudsters to first top up their account again (to make an insurance payment, pay a commission, and interest, etc.), and then ask to withdraw the money.
To avoid responsibility, scammers do not provide any documentation. If a client requests to sign a contract, their requests are ignored. Fraudsters use the services of third-party payment systems and cryptocurrency wallets to collect funds while remaining anonymous. Reviews on public forums indicate that chargebacks are often impossible for these reasons.
Professional Review of BTC FX
BTC FX is not officially registered company, lacks licenses, and is known for defrauding clients. At the moment, there are no reviews in the Russian segment of the internet, but it is already apparent that dealing with BTC FX carries certain risks. Opening an account on this platform is likely to lead to financial losses.
