Bitcointrades24.com claims to be involved in a lot of things around the financial markets. They say that they are a regulated binary options broker and even have the audacity to feature a phony certificate. We couldn’t find any verifiable trading history or documents to support their ridiculous stories about their win rate. Trading cryptocurrency and forex markets can be quite overwhelming for a lot of newbies and market participants.
A vast majority of traders and investors are always on the lookout for the holy grail which potentially will make them rich overnight. However, the reality is not simple and without proper education, the odds will be against you and it will be only a matter of time, before you lose your account. So, to know the exact nature of this platform and their conflict of interest, go through our unbiased review.
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Company, History and Support
All the firms which offer derivatives and trading instruments to the retail sector have to go through thorough screening and they need to hold the appropriate regulatory certificates. If any company decides to raise the capital from the general public, then they need to stick to the guidelines set by all the regulatory authorities or else all the people responsible for the management side will face criminal prosecution.
This platform showcases an incorporation certificate on their homepage and claims to be under the radar of the FCA. However, the evidence clearly proves otherwise. Bitcointrades24.com is not recognised by not only the FCA, but all of the authorities which means they are bluffing about their legal status and as such, they are bound to leave all the investors high and dry.
When it comes to investing online, always do your research and proceed with a company only if they are regulated. We ll know that, there are some benefits to choosing unregulated entities, but remember they always carry a high degree of risk. The only mode of communication between the public and this firm is email and the reason they interact only through it is to maintain anonymity. Covering up their tracks is a common trait of every scam and that kind of mysterious behaviour is a red flag which you should never ignore.
How does Bitcointrades24.com Work?
Bitcointrades24.com supposedly makes money from trading binary options, cryptocurrency and forex markets. All the three sectors mentioned by them are highly profitable, but it is not easy to find a mathematical edge in any of them. This firm does not talk about their strategy, risk management measures and the asset location anywhere on their website. Moreover, they haven’t even disclosed the information about their fund managers and the employees.
On top of that, we as investors don’t have a clue about their drawdown or the win rate. In case if you are wondering, they don’t have the courtesy to offer free trials or demo accounts. In short, there is nothing to instill confidence and no experienced investor would ever dare to indulge with them.
Trading is a fantastic way to make some serious money and it offers a lot of freedom to the participants. However, it is not necessarily easy and it certainly can’t be done by just clicking a few buttons.
Investments and Profits
There are a lot of different investment plans offered by this firm and the returns are capped at 20% per month. 20% monthly can be achieved if you have a strict approach and a diverse portfolio. Since this firm has failed to produce an ounce of evidence or data to prove their accomplishments. We don’t have any reason to believe their empty promises and we suggest you not to give them the benefit of the doubt.
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At the end of the day, trading is all about numbers and if anyone argues otherwise, then chances are they don’t have your best interest in mind. After all, if they really were achieving the kind of numbers they advertise, wouldn’t they be one of the most richest people in the world?
Fake Testimonies
We found a lot of positive and inspiring testimonials on their website. The comments featured are more than enough to convince the newbies to join them and they create a strong sense of community. Sadly, all the cherry picked words are posted from bogus user profiles and the images they have used are all stock photos.
So, it is very clear that the creators are bluffing about their performance and are trying to manipulate the public. Hopefully, now you understand why you shouldn’t trust random comments and reviews on the internet.
Bitcointrades24.com Review Conclusion
Bitcointrades24.com is not a regulated investment solution or a brokerage. They are operating outside the realm of law and are bound to flee away with all the investor’s money. The best way to combat these kind of scams is by educating yourself about the markets and avoiding any entities which make big claims about their profits, but can’t back up their claims with verifiable data.
