BitFX Markets Scam Review – WARNING!
OFFICIAL SCAM URL: www.bitfxmarkets.com
BitFX Markets is allegedly a great broker for CFD and Forex trading out there, one with lots of assets and great spreads. However, we came across a plethora of scam factors which indicate the bitfxmarkets.com is nothing more than a scam.
BitFX Markets Broker Scam Factors
As mentioned above, the BitFX Markets broker is one of the shadiest and most suspicious Forex and CFD brokers out there. There are no less than 10 red flags here, big indications that this whole operation is nothing more than another Forex scam.
First off, this broker is totally anonymous. Bitfxmarkets.com, the whole website, does not have a single name, not a single mention of who might run this show. Don’t be fooled by the image in the “about us” section. You’ll see an image of a group of people who look like professionals. This is a trick meant to make it seem like there is a legit group of people behind this Forex broker. It’s a lie, nothing more than smoke and mirrors.
Address & Company Information – Inconsistencies
There are also a lot of inconsistencies with the information provided in regards to the company. For some reason, the address at the bottom of the website says that this broker is owned by a company called LinkGM, which is allegedly based in Bulgaria. However, other parts of the website claim that this broker is located in Estonia. To top it all off, the provided contact phone number is a UK phone number. These are huge inconsistencies and they chalk up to a scam.
Business Registration & Licensing
Speaking of the company behind it, LinkGM, it claims to be based in Sofia, Bulgaria. However, this does not appear to be true at all. We checked with the Bulgarian business registrar, and we came up empty. This company has no registration number at all. In other words, it is not actually located in Bulgaria as alleged on the site.
On that same note, a CFD and Forex broker like this is required to be licensed. Any company providing financial investment services requires the appropriate license to do so. Of course, there is not a single watchdog or licensing agency around the world which has every granted these crooks a license to be brokers. The BitFX Markets broker is not registered or licensed, and it’s therefore completely illegal too.
Bogus Trading Education
Something that we really had to laugh at when it comes to the BitFXmarkets.com broker, is the section on Forex trading education. Take a look at it, it’s laughable. Half of the information provided is straight up copied and pasted for unreliable sources, and the other half is just wrong. This has to be some of the worst Forex and CFD trading education that we have ever seen. It’s clearly just a ploy to make this BitFX Markets broker seem legit.
High Minimum Deposits
Something that also stands out here is how the minimum required deposit amount for BitFX Broker accounts is $1,000. This is way too high. The acceptable industry standard for minimum deposits for brokers is $250, a quarter of what these crooks want from you. It’s just another clear indication that there is a scam afoot here.
An Unsecure Trading Platform
The BitFX Broker uses its own homemade web based trading platform. Sure, if you open it up, it looks alriught, but that’s about it. What we noticed here is that there is absolutely zero platform security. There is no DDOS, no SSL, no nothing. This platform is ridiculously unsecure. Make no mistake about it, because this is purposely done. It makes it far easier for the crooks in charge of this FX scam broker to steal your money.
CLICK ON IMAGE TO GO TO ANDREW’S TRADING CHANNEL
A Bogus Practice Account
There is BitFX Markets practice account available for people to practice trading, to check the broker out, and to see how it performs. People, this is a lie. The practice account is specially engineered to only win trades, like a rigged carnival game, but the opposite. The practice account is rigged to only display winning trades, to make people think that the live account will also perform so successfully. It’s just another cheap trick meant to fool you into thinking that this service is legit.
A Fake Affiliate Program
Yet another BitFX Markets scam factor that came to our attention has to do with the affiliate program. Here, people are promised massive bonuses for each additional person they can convince to invest money with bitfxmarkets.com.
However, this is simply not true. Just like everything else on the site, it’s just another trick meant to widen the casting net, to lure in more victims. Make no mistake about it, these criminals will take money from whomever you refer, but you won’t ever see that bonus money. All you are accomplishing by referring others is helping the BitFX broker actively scam other people out of their money.
The most telling BitFX Markets broker scam factor here is that there are no withdrawals. From what we can tell, not a single person has ever been able to withdraw funds from their accounts. Whether it is due to deposit bonuses, account errors, or withdrawal minimums, there always seems to be a reason why people cannot withdraw money. Folks, there is no money to withdraw. These crooks simply drain all trading accounts before you know what has hit you. These people are nasty thieves!
A Warning from CONSOB
CONSOB is the “Commissione Nazionale per le Società e la Borsa”, the Italian financial watchdog. CONSOB has issued a warning about BitFX Markets, stating that this broker is indeed a scam. You really don’t need any more proof than this!
BitFX Markets Review – The Verdict
The bottom line is that the BitFX Markets CFD and Forex broker is a scam. The one and only purpose it serves is to steal money from everybody and anybody who is unfortunate enough to invest money. Please folks, stay away from this scam broker!
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