BetaCrypto uses Bitcoin logo as letter “B” in its brand name. The broker claims to be a specialised CFDs for cryptocurrencies provider. The broker mentions payments only by Bitcoin, however minimum deposit required for trading accounts displayed in US Dollars. It raises the first suspicion. The broker offers four trading accounts with 0.75% spreads for BTC trading. The broker is offshore based and unregulated. Apart from this, many concerns are there for this broker. In this BetaCrypto review, we will discuss all the concerns in a detailed manner. To understand this broker from tip to toe, readers must not miss any world. Read the full BetaCrypto review here.
One of the benefits of BetaCrypto is its cryptocurrencies trading. The categorisation of different trading assets are Crypto Vs Crypto, Crypto Vs USDT, Indices Vs BTC, Commodities Vs BTC, and Stocks Vs BTC. According to us it is an exciting offer and will attract many crypto-enthusiasts. The payments at BetaCrypto is acceptable via many channels such as Bank Wire, Cards, E-wallets and Skrill. Golden Vision Consult LTD operational from Bulgaria manages trademark BetaCrypto. Other two entities, a legal firm from Russia and UK based office, are mentioned on the official website. In the term and conditions section, the broker displays Belize Laws. Whatever the reason behind this jumbled up situation of this broker, nothing seems right. No financial regulator regulates any of these entities. The broker provides a web-based trading platform that mostly resembles with MetaTrader. However, it can not be compared with MetaTrader. As mentioned earlier, the spreads provided are about 0.75% of the BTC value; it is quite huge and not competitive. The provided spreads also increase the cost of trading. The website of BetaCrypto is filled with offers of a variety of promotional bonuses. The trading bonuses are a controversial matter and banned in many regulated markets. Another problem of BetaCrypto is that it refuses to share information on leverages offered. It is difficult for traders to trade with such an uninformative broker. Also, no direct blockchain deposition is allowed by the broker. So, we cannot say it is a real bitcoin broker.
Is BetaCrypto scam or legit?
The concept of bitcoin trading is not new, but the broker provides various trading options. Unfortunately, the broker we are dealing with is unregulated. Also, the cost of trading is high. In our view, BetaCrypto is a potential cryptocurrency scam broker. Avoiding it is beneficial.