Overview
| Broker Name | BTC You Mine |
| Website | https://btcyoumine.com |
| Regulation | Not regulated |
| License | Not licensed |
| Warnings | Several warnings |
| Traders’ reviews | Negative |
Is btcyoumine Regulated?
One of the most crucial factors that traders should consider before choosing a broker is whether the broker is regulated by a financial regulatory authority. Regulated brokers are required to adhere to certain standards and regulations set by the regulatory authorities. However, btcyoumine is an unregulated broker, which means that it is not monitored or overseen by any financial regulatory authority.Warnings from Financial Regulations
btcyoumine has been flagged as a potential scam broker by several financial regulatory authorities, including the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). These regulatory authorities have issued warnings to potential investors, advising them to be cautious when dealing with the broker.
What Currency Pair Do They Offer?
btcyoumine claims to offer trading services in various financial instruments, including cryptocurrency, forex, and commodities. However, there is no information available on the website regarding the specific currency pairs offered by the broker.
Customer Support
One of the essential aspects of a reliable broker is the quality of customer support offered. However, btcyoumine’s customer support is not up to the mark. The broker only offers customer support via email, and there is no phone or chat support available. The response time for email support is also slow, with some traders reporting that they have not received a response for weeks.
Trading Method (MT4/MT5/Any other method):
btcyoumine offers trading services through the MetaTrader 4 (MT4) platform. MT4 is a popular trading platform used by many brokers worldwide. It is known for its advanced charting capabilities and user-friendly interface.
What Do Traders Think About btcyoumine?
Several traders have reported experiencing issues while trading with btcyoumine. Some traders have reported that they were unable to withdraw their funds, while others have reported that their accounts were closed without any explanation. There have also been reports of traders being charged hidden fees and commissions.
What To Do If You Get Scammed?
If you have been scammed by a broker, there are certain steps that you can take to recover your funds. The first step is to report the scam to the relevant financial regulatory authority. You can also file a complaint with the broker’s payment processor or seek legal action against the broker.
If you face scammed and lost money to companies like soloxbit, 24coinfex, or Norextrade, please report it today by below form.
File A Complaint & Get Free Consultation
Final Thoughts:
In conclusion, btcyoumine is an unregulated broker that has been flagged as a potential scam by several financial regulatory authorities. The broker has also been reported to engage in fraudulent activities, including withholding funds, charging hidden fees and commissions, and closing accounts without explanation. Traders are advised to exercise caution when dealing with the broker and to consider using a regulated broker that adheres to industry standards and regulations.
