Review of the fraudulent broker TexBTC: details of scam schemes and real reviews
TexBTC is one of the forex platforms that presents itself as a regular broker, offering users easy and quick earnings on cryptocurrencies. However, the company TexBTC does not have the appropriate license to operate in the CIS countries, raising questions about its integrity. The website texbtc.com promises an attractive trading terminal and claims profits of up to 85% per month. It is important to note that all these statements turn out to be bait for the gullible. We strongly recommend reading the review of the intermediary and finding out the opinions of Russian users.
Current status of the TexBTC website
Reviews from former clients of the company indicate that the official website of the broker texbtc.com looks unprofessional, filled with insignificant promises, and has mediocre execution. On the homepage, there is a slogan “TEX BTC: Investment technologies of the future”. There are 3 buttons:
- Cryptocurrency trading,
- “Open a trading account”,
- Stock trading.
The irony is that none of these buttons lead to the next page. The texbtc.com site is not suitable even for basic use.
The top menu of the TexBTC website features 10 sections, yet the company does not provide specific information. On the homepage, the company offers a brief overview of the quotes of major cryptocurrencies in a scrolling ticker.
However, the content of texbtc.com is filled with beautiful but empty promises. For example, “Go beyond the usual ways of earning”, “The terminal will immerse you in the exciting world of the market”. Instead of concrete information, you will encounter only myths and speculations.
The company TexBTC does not shy away from self-praise. The block of its own benefits is presented in the form of useless promises – a characteristic feature of fraudulent organizations. To attract clients, the forex broker promises a profitability of 85%. However, there is no information on how these figures are achieved. Additionally, the intermediary offers “professional capital management”.
In addition, the company TexBTC claims to have its own trading terminal (UTIP) and a mobile application on its website, although it does not provide an overview of the capabilities of these programs.
License status of TexBTC
The status of a forex broker describing itself as licensed and having all the necessary permits for financial activities requires more thorough investigation. Thus, texbtc.com turns out to be an offshore company without a confirmed address on the website. The license is issued by the Vanuatu Financial Services Commission (VFSC), but this is an offshore jurisdiction, and there is no confirmation of the validity of the permit. Scan copies of the license are not published on the website, hindering the verification of their licensing information.
Review of TexBTC documents
On the website of the forex broker, there are only 2 documents – a user agreement and a risk notification. Upon opening the first document, it becomes clear that TexBTC is a typical scam. The user agreement mentions the name of another company – UniGlobe Markets Ltd., which does not match the information from the registration certificate. The documents are presented in German, making it difficult for most users to understand them. This behavior is typical of fraudulent brokers who seek to keep clients in the dark.
Recommendations for working with TexBTC
In conclusion, it can be said that TexBTC is a dishonest broker which, according to our review and trader feedback, has the following main shortcomings:
- Lack of a license from the regulator and lack of transparency on this issue,
- Documents in German, creating additional difficulties for study,
- Many empty promises and lack of specifics on the website,
- Lack of information about the address and owners of the company,
- Inconsistencies in the names of organizations in various documents,
- Deceiving clients and collecting funds through manipulations.
We recommend reading the following articles:
- How to choose a reliable forex broker in 2020: main criteria,
- Crypto wallets: their purpose and how to use them
Be warned against collaborating with the fraudulent broker texbtc.com. If you need to work with cryptocurrencies or investments, look for verified and reputable companies to partner with.
