BTSbroker scam review: how the company deceives
Review of BTSbroker scammers: how the company deceives
Today, it is not uncommon to encounter fraud on the internet, and it is important to be vigilant when choosing companies to work with. BTSbroker seems to be an unreliable option. The btsbroker.net website is known for its attempts to deceive users by providing inaccurate information and trying to deprive traders of their funds. In this review, we will look at the actions of the fraudulent company “BTSbroker” and search for information on reviews.
Review of the btsbroker.net website
The first sign of the unseriousness of the btsbroker.net website is its low-quality execution, it is obvious that it was created more as a trap for traders. When visiting the resource, you will see the stamp “Stable broker” and the smiling face of the supposed client. This is a typical method of attracting users with empty promises not backed by real facts. The company claims that trading CFD contracts is a risky business, but does not provide a section “Documents” on its website.
The top menu of the website includes 9 items:
- “Home”,
- “About us”,
- “Trading”,
- “Account types”,
- “Instruments”,
- “Open an account”,
- “Platform”,
- “Web”,
- “Contacts”.
On the homepage, you may come across three buttons urging you to open an account and deposit funds.
The btsbroker.net website provides a review of available assets for trading, including currency pairs (62), securities, and precious metals. The company promises trading “without commissions, requotes, hidden markups”, but such enticing promises, not supported by any documents, should be treated with caution. The broker’s website lacks a section “Commissions”, making it impossible to familiarize yourself with the details.
Big promises, such as “fast execution” and “ultra-tight spreads”, remain unconfirmed and vague.
In the “Learn more” section, the company provides extremely limited information. For example, the “Forex” section does not disclose information about available currency pairs, despite the promise of 62 trading pairs. The broker assures about spreads starting from 0.0 and average execution time of 0.15 seconds.
The company also claims that the trader can use “all trading strategies”, although this is just another empty promise, as restrictions are often not specified.
Without registering, it is impossible to view the broker’s trading terminal. Even by visiting the “Platform” section, you will have to download the desktop version. Access to the “Web” section is also limited to unregistered traders, which may raise suspicions about the lack of transparency of the company.
How to register on btsbroker.net?
The registration form on the BTSbroker website requires entering an extensive list of personal trader data to create an account. In order to comply with KYC principles, the following information needs to be provided:
- email,
- password,
- date of birth,
- surname,
- first name,
- patronymic,
- passport details,
- gender,
- phone number,
- country,
- region,
- address.
You will also need to enter a verification code and activate your account by following the link sent to the specified email.
Although the volume of requested data may be justified by KYC principles, the absence of corresponding documentation on the website raises some concerns about the security of the provided data.
Registration date of the btsbroker.net resource
The most interesting section on the BTSbroker website is the “Awards” section, where the company boasts numerous awards, including UK Forex Awards, CFI.co Awards, and Global Brands Magazine. However, this should be compared with facts such as dates. Domain information shows that the site was registered in January 2020, contradicting claims of awards in 2017 and 2018. Therefore, the actual existence time of the BTSbroker broker is only 2 months.
All the information presented on the site about the awarded awards is a fabrication. Most likely, such claims are made to create an impression of the company’s stability and professionalism.
License and documents of BTSbroker
One of the main criteria for a reliable broker is the presence of a license and relevant documents on the website. In the case of BTSbroker, there is no information about this. The “Contacts” section contains only a mention of the state registration of the organization, which is disguised as a license. Do not confuse these concepts! Information about the company’s registration is not a guarantee of its honesty and reliability.
Also noteworthy is the date of issue of the specified certificate – December 2019, which contradicts claims of awards in previous years. In addition, there are no documents on the website confirming the legality of the BTSbroker company’s activities.
Review of “BTSbroker” reviews
Reviews about BTSBroker are absent, and this phenomenon is not surprising, considering that the company has only existed for 2 months. The absence of user opinions is a sign that cooperation with this intermediary may be risky, and it is better to refrain from such a step.
How BTSbroker deceives?
Several methods of deceiving users can be identified on the btsbroker.net website. Firstly, it is the poor quality of the broker’s CFD platform. Problems with order execution and the trading terminal freezing are typical occurrences for this company. There are cases where the Stop Loss order is not active, which can lead to unprofitable trades and loss of the deposit.
Even if you manage to earn something, BTSbroker is unlikely to pay you, as the company is known for its reluctance to withdraw users’ funds. Without a license, the organization has no obligations to the British regulator.
Filing claims against the intermediary in court is also difficult due to the lack of necessary documents. It is difficult for a trader to defend their interests without supporting documents. Moreover, the company does not have a corporate office in Russia, which means that lawsuits will have to be considered in the UK.
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- Ghost broker RoyalBanc: review of a fraudulent website and trader reviews,
- Fraudulent broker Altosmarket: honest company review and trader scam scheme,
- X90: review of another scam, reviews of deceived traders.
BTSBroker – a scam?
Without a doubt, BTSBroker is a scandalous company that is best avoided. The btsbroker.net website was registered in January 2020. There are almost no reviews of the activities of this CFD broker online, and there is also no information about having a license. The official company resource practically lacks information about assets, instruments, opportunities, and commissions, there are only empty promises.
The company also tries to confuse traders regarding the date of its registration. In addition, it publishes non-existent awards allegedly received in 2017, 2018, 2019. However, at that time, the broker did not exist yet.
Summary of the review
The company BTSbroker is a fraudulent broker whose goal is to deceive users and seize their money. Among the drawbacks of such a company are:
- lack of a license,
- lack of necessary documentation on the website,
- manipulation of information about the company’s registration date,
- an attempt to present a registration certificate as a license,
- lack of reviews from real users.
Ultimately, BTSbroker is a typical representative of fraudulent schemes aimed at stealing clients’ money. It is recommended to avoid cooperation with this company.
P.S.: Choose only verified and reliable companies whose work is subject to official regulators. Do not trust empty promises and always carefully check your intermediary. This approach will make your trading more profitable and secure. Good luck!
Author: Ivan Andrienko