Beware Investors Bitrade-Market – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements. Found at www.bitrade-market.com is not registered in Ontario to engage in the business of trading in securities.
Introduction to Bitrade-Market:
Bitrade-Market is a website that claims to be a leading online trading platform with over 10 years of experience and more than 250,000 clients worldwide. The website states that Bitrade-Market offers access to a variety of markets, such as forex, stocks, commodities, and cryptocurrencies, with competitive spreads, low commissions, and high leverage. The website also claims that Bitrade-Market provides advanced trading tools, educational resources, and professional customer support.
Products and Services offered by Bitrade-Market:
According to the website, Bitrade-Market offers the following products and services:
– Forex: Bitrade-Market claims to offer over 50 currency pairs, including major, minor, and exotic pairs, with tight spreads and fast execution.
– Stocks: Bitrade-Market claims to offer access to over 2,000 global stocks, including blue-chip companies, tech giants, and emerging markets, with low commissions and high leverage.
– Commodities: Bitrade-Market claims to offer trading on various commodities, such as gold, silver, oil, natural gas, coffee, and sugar, with flexible contract sizes and low margins.
– Cryptocurrencies: Bitrade-Market claims to offer trading on over 20 cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Ripple, and more, with high volatility and liquidity.
Financial institution & regulatory license of Bitrade-Market:
Bitrade-Market does not disclose any information about its financial institution or regulatory license on its website. The Ontario Securities Commission (OSC) has issued a warning that Bitrade-Market is not registered in Ontario to engage in the business of trading in securities or advising anyone to invest in securities. The OSC also warns that Bitrade-Market may be involved in a scam and advises investors to exercise caution when dealing with this platform.
Trader’s Reviews and Customer Service of Bitrade-Market:
Bitrade-Market does not have any positive reviews or testimonials from real traders on its website or on any independent review sites. On the contrary, there are many complaints and negative feedback from users who claim that Bitrade-Market is a scam and that they have lost money or been unable to withdraw their funds from this platform. Some users also report that Bitrade-Market has poor customer service and that they have been harassed or ignored by the support team.
How do online trading scams operate:
Online trading scams are schemes that lure unsuspecting investors into depositing money with fraudulent brokers or platforms that promise high returns or low-risk opportunities. However, these brokers or platforms are not regulated or licensed by any reputable financial authority and often use fake or misleading information to attract customers. Once the investors deposit their money, they may face various problems, such as:
– Difficulty or impossibility to withdraw their funds or profits
– Manipulation of prices or trades
– Hidden fees or charges
– Pressure or intimidation to invest more money
– Closure of accounts or websites without notice
How to Safeguard Against Fraudulent Brokers:
To protect yourself from online trading scams, you should always do your due diligence before choosing a broker or platform to trade with. Some of the steps you can take are:
– Check the registration status and regulatory license of the broker or platform with your local securities regulator or other reputable financial authority
– Verify the contact details and physical address of the broker or platform
– Research the reputation and reviews of the broker or platform from independent sources
– Avoid brokers or platforms that offer unrealistic returns or guarantees
– Avoid brokers or platforms that ask for personal or financial information via email or phone
– Avoid brokers or platforms that pressure you to invest more money or act quickly
– Use secure payment methods and keep records of your transactions
– Report any suspicious or fraudulent activity to your local securities regulator or law enforcement agency
Bitrade-Market is an online trading platform that claims to offer various products and services, such as forex, stocks, commodities, and cryptocurrencies. However, the Ontario Securities Commission (OSC) has issued a warning that Bitrade-Market is not registered in Ontario to engage in the business of trading in securities and may be involved in a scam. Therefore, investors should exercise caution and avoid dealing with this platform. To safeguard against fraudulent brokers, investors should always do their due diligence and research the registration status, regulatory license, reputation, and reviews of the broker or platform they intend to trade with.