We all know that the number of online scam brokers has risen. If you want to enter the online trading world, it is now challenging to choose a reliable and regulated broker in the industry. One such broker attracting negative attention is firebirdbtc.com. In this review, we’ll explore everything you need to know about firebirdbtc.com before engaging with them.
Overview
Firebirdbtc.com is a crypto-forex broker that provides access to traders in forex pairs, shares, indices, and commodities. This broker opened in 2016 and quickly became popular among traders in Europe, Asia, and Africa. The website features a user-friendly platform, which makes it easy for traders to navigate and place orders. They also provide some trading tools and charts for easy analysis. However, there are serious concerns that we need to address regarding their operation.
Is firebirdbtc.com Regulated?
Firebirdbtc.com doesn’t seem to be regulated by reputable financial authorities. On their website, they claim to be registered by Seychelles under the name of Firebird Digital Ltd., but the Seychelles Financial Services Authority has no record of such registration. This representation of false information proves their falsehood.
Warnings From Financial Regulators
Multiple regulatory bodies have issued warnings against firebirdbtc.com, indicating that they present problems with their operations. These include:
– UK Financial Conduct Authority (FCA): This regulator warns that Firebirdbtc is operating illegally within the UK, and they are not registered with them.
– Canadian Securities Administrators (CSA): The regulator in Canada also warns that they are not authorized in their jurisdiction.
– Cyprus Securities and Exchange Commission (CySEC): Another reputable regulator has flagged Firebird as a suspicious broker, and it’s not authorized in Cyprus.
What Currency Pairs Do They Offer?
Firebirdbtc offers a range of forex pairs, shares, indices, and commodities. They claim to provide the maximum leverage of up to 1:500 on forex pairs. Additionally, they offer a trading account denominated in cryptocurrencies like Bitcoin and Ethereum. This option may appeal to crypto traders who want to take speculative positions on selected assets.
Customer Support
On their website, they provide a range of communication channels, including live chat, phone, and email. Unfortunately, many traders report that customer support is slow and often unhelpful. It is highly important that you can reach customer support easily, quickly, and with ease, which is also an important part of trading.
Trading Method (MT4/MT5/Other Method)
They provide a trading platform that is accessible via the web browser. It’s not clear which provider they use, and it seems like their systems are proprietary. Furthermore, they claim to offer the MetaTrader 5 trading platform, but it’s not clear whether the provider is a genuine version. Clients accuse Firebird of frequently freezing the trading platform and deleting trades from accounts.
What Do Traders Think About Firebirdbtc.com?
Firebirdbtc.com has attracted multiple negative reviews from traders. They accuse the broker of freezing accounts, refusing to process withdrawal requests, and manipulating trades to favor themselves. Many traders report losing significant amounts of money while trading with Firebird.
What To Do If You Get Scammed?
If you have been scammed or swindled by Firebirdbtc.com, you can contact us. We will evaluate your case and will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
If you face scammed and lost money to companies like jolbit, luxerbtc, or btcyoumine, please report it today by the below form.
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Final Thought
Based on the information we’ve presented, we strongly advise against trading with firebirdbtc.com. This broker is not only unregulated but also relies on misleading advertising to lure clients. Their customer support is unresponsive, and the trading platform is unstable. We highly recommend finding a licensed broker and conducting thorough research to avoid falling into the same trap.
