BTC Kingdom Review
Bulgarian cryptocurrency broker the BTC Kingdom has only one standard trading account. The acceptable minimum initial deposit and favourable leverages are provided by it on a web-based trading terminal. However, the broker fails to show spreads provided on its official web page. Nevertheless, the broker acts as a Market Maker and got blacklisted by Belgian financial authority. It means the broker is not licensed to provide its services in controlled trading markets like the United States, European Union, Japan and Australia. We have given this broker a low rating and reasons for the same are discussed in this crucial BTC Kingdom review. Please make most of it to save your fund.
About BTC Kingdom:
A single classic account is offered that need a minimum deposit of 250 Euros and maximum leverages of 1:5 are provided. The required deposit is according to the current market position but other governed brokers provide a lucrative trading environment and MetaTrader support with less investment. To make BTC Kingdom review trusted and proven we will discuss all the possible merits and disadvantages.
We will initiate this section with all the possible merits of BTC Kingdom. The broker provides a wide range of trading assets. Total of 95 major and minor crypto coins are offered namely Bitcoin, Ethereum, Ripple, Monero, Dash, Steem Dollars are few to mention. As said earlier the minimum deposit required is acceptable to many traders.
Now we will talk about all the disadvantages of BTC Kingdom. Bulgarian company Home Market LTD owns the trademark the BTC Kingdom. It is not regulated by the Bulgarian financial regulator. Furthermore, the broker BTC Kingdom is blacklisted by Belgian financial regulator FSMA. The broker applies many shown and hidden charges on the withdrawals. Such as 4.5% of the amount withdrawn. It also forces to trade 100% of their initial deposits and it is not feasible. The broker also provides services like managed accounts. This managed account is highly controversial and banned. Negative balance protection is not supported by the BTC Kingdom. Also, Skrill is absent as a payment gateway and MetaTrader is not facilitated for seamless trading. Instead, a basic web-based trading platform is in the offering.
Is BTC Kingdom scam or legit?
The broker is unregulated and blacklisted by the legit financial regulator FSMA. Trading conditions are inappropriate and the higher initial investment is needed. Many charges are applied on withdrawals and MetaTrader is not offered. This thorough analysis leads us to believe that the broker the BTC Kingdom is a potential scam cryptocurrency broker.