As cryptocurrencies gain more attention, the number of scams and fraudulent activities also increases. One such example is the BTC-Coin scam broker, which has been the subject of many negative reviews and complaints. In this article, we will take a closer look at Btc coin, its regulatory status, trading conditions, customer support, and what traders think about it.
Overview
Let’s start with a quick overview of BTC-Coin and its key features:
Broker Name | BTC-Coin |
Regulation | Unregulated |
Trading Platform | MT4/MT5 |
Currency Pairs | BTC, ETH, XRP, LTC, BCH, etc. |
Customer Support | Email, phone, live chat |
Scam Warnings | Yes |
Traders’ Reviews | Mostly Negative |
Is BTC-Coin Regulated?
The first thing to check when dealing with any broker is their regulatory status. In the case of Btc coin, there is no regulatory information on their website, which is a major red flag. In the whole, about us page, there is not a single line on their regulation status or any license number. It is clear that they are not licensed or regulated.
Warnings from Financial Regulations:
Several financial regulatory authorities have issued warnings against Btc coin, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). The FCA has warned that BTC-Coin is providing financial services or products in the UK without their authorization, which means they are operating illegally. ASIC has also added BTC-Coin to its blacklist of unlicensed and unregulated brokers that have been involved in fraudulent activities.
Is BTC-Coin Can Be Trusted?
Given the lack of regulation and the warning from financial authorities, it is difficult to trust BTC-Coin as a reliable broker. In fact, many traders have reported that they have been scammed by BTC-Coin, with some losing their entire trading capital. BTC-Coin has been accused of using aggressive sales tactics, promising unrealistic returns, and refusing to process withdrawal requests.
What Kind of Currency Pair Do They Offer?
BTC-Coin offers a variety of cryptocurrency pairs for trading, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and others. While this may seem attractive to traders interested in crypto trading, it is important to note that the lack of regulation and the scam warnings make it highly risky to trade with BTC-Coin.
Customer Support:
BTC-Coin offers customer support through email and live chat. However, many traders have reported that the support team is unresponsive and unhelpful, especially when it comes to withdrawal requests. This is another red flag that raises concerns about the legitimacy of BTC-Coin.
Trading Method (MT4/MT5/Any other method):
We are not sure about their trading platform. They require traders to sign up to see the platform.
What Do Traders Think About BTC-Coin?
Traders who have dealt with BTC-Coin have mostly left negative reviews and complaints online. Many have reported being scammed, with some losing their entire trading capital. Others have reported aggressive sales tactics, promises of unrealistic returns, and poor customer support. The overall consensus is that BTC-Coin is not a reliable broker and should be avoided.
What To Do If You Get Scammed?
If you have been scammed by BTC-Coin or any other broker, there are some steps you can take to try and recover your funds. You can contact us and submit your case to us. We will analyze your case and will provide you with a free consultation and service recommendations to get back your lost funds.
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Final Thoughts
BTC-Coin is an unregulated broker that has been the subject of many negative reviews and warnings from financial authorities. Trading with an unregulated broker is highly risky and can result in financial losses or even a complete loss of funds. It is important to do thorough research before choosing a broker and to only trade with regulated and reputable brokers. If you have been scammed, take action immediately to try and recover your funds and report the scam to the relevant authorities.
