With the virus, the trading market also observed a spike in customers and trading companies equally. The scam brokers and fraud investment companies in the market increased in a significant number as it was adopted as a means of stealing other people’s money by these vicious cybercriminals and online scammers. These fraud brokers often try their best to convince the customers and hence, they are difficult to spot. We review scam brokers and help you spot the red flags of each of them so that you can be safe from their deadly traps. Read the full BTC Market review here. BTC market live, like every other scam broker, claims to be one of the best in town. Founded in 2012, this company claims to have its base of operations in Australia. However, no traces of its registration have been found in the Australian Securities and Investment Commission or the ASIC.
About BTC Market Live:
The first and foremost point that the company does not have a license and thus is an unregulated company might be a big reason for most of the customers to turn around and walk away from investing your valuable money with them. The readers must note that every authentic and legitimate trading company must be regulated and should have a license issued by the regulatory authority of the countries that they operate in. this license makes sure that the government is keeping a close watch on this trading company and even if they lose your money due to any reasons, they are supposed to pay a nominal amount to all the customers as stated by the government. This will not only discourage the trading companies to take any kind of risk and plan of stealing all the money but will also help the customers in staying out of debt traps. Besides not having a license, the company claims to be privately owned. However, no more information is available on the parent company or the founders of BTC market live. They offer to trade in cryptocurrency and accept AUD and BTC. The company also claims to provide two different kinds of services which include self-managed super fund and consulting service. The self-managed super fund is for those customers who want to have personalized services and report their taxes. The bigger companies and businesses are offered the consulting service. The information on both of these services was limited and the website states us to mail on a certain email address for further details. The withdrawal process is the problem where most of the customers who have an account with a scam broker, start having troubles. Upon filing for a return, the scam broker or the fraud company will stop picking your calls and will start giving you nonsensical reasons on why they are not able to process the withdrawals. This will proceed by them closing your account without your knowledge and then vanish without a trace. The customers of BTC market live had similar reviews for the company’s withdrawal process. This is yet another red flag and a major sign of this company is a scam.
Is BTC market live a scam or legit?
The onset of the pandemic has restricted all of us to the four walls of our houses. With devices like mobile phones, laptops, and computers being our only contact with the outside world and people, we all learned and adjusted to be content just by looking at the face of our loved ones through the rectangular screens. Even though it may feel convenient to trade online, it is a very risky market and we strongly advise our readers to not invest with any trading broker without proper research. After thorough research, we conclude that BTC market live is a complete scam, and we recommend our readers not to trade with this scam broker and fall in BTC market live scam.