Bitsterzio, a fraudulent broker, is a fascinating case study of deception. They employ a convincing argument that trust in a company is paramount, even if the company doesn’t provide any details. They’ll claim that this is a common occurrence, but that they can still be trusted. How can they make such a claim? They present the supposed license numbers and a location.
However, upon closer inspection, it’s evident that Bitsterzio hasn’t actually provided any valid license numbers and isn’t registered with any financial authority. It’s clear that this broker operates without supervision or oversight.
If you’re considering investing with Bitsterzio, it’s crucial to delve deeper into this Bitsterzio review and uncover all the relevant information.
|Headquarters||30 Churchill Pl, London|
|Minimum Deposit||$500 & 10,000 EUR|
Regulation and Security of Bitsterzio
The Bitsterzio website displays an address in the UK, but this information is misleading and untrue. In reality, conducting business in the UK as a broker requires a license from the FCA, one of the strictest financial authorities in the world. Unfortunately, Bitsterzio does not appear in the FCA’s record of authorized brokers.
The lack of a license means that Bitsterzio is an unregulated and potentially dangerous broker. Investing in unlicensed brokers poses many risks and dangers. Instead, it is advisable to opt for regulated enterprises located in the US, EU, UK, or Australia. This ensures that your investments are safe and that your money will not be mishandled or stolen.
It is important to be cautious of brokers that offer leverage higher than 1:50 as this is excessively risky. In fact, leverage starting at 1:100 is even more speculative and problematic. It is always better to invest wisely and safely under the guidance of a reputable broker.
Trading Platform Overview
Let’s delve into the platform that Bitsterzio purports to provide. On their website, they boast that each trader requires a personalized platform that suits their unique requirements. This implies that the broker may have more than one trading software option available.
Despite this claim, it remains unclear whether this is indeed the case. If you attempt to register an account, they will demand that you provide a referral code, and you will be unable to proceed without one.
It is advisable to seek out brokers that offer state-of-the-art trading software such as MT4 and MT5. Furthermore, never overlook the value of a broker’s licensing status; it is a critical factor to consider while selecting a broker.
Account Types at Bitsterzio
The broker in question offers seven types of accounts. They are as follows:
- Basic Trading Account – Minimum deposit of 10,000 EUR
- Silver Account – Minimum deposit of 25,000 EUR
- Gold Account – Minimum deposit of 50,000 EUR
- Platinum Account – Minimum deposit of 100,000 EUR
- Diamond Account – Minimum deposit of 250,000 EUR
- Premium Account – Minimum deposit of 500,000 EUR
- VIP Account – Minimum deposit of 1,000,000 EUR
However, the benefits of each account type are limited to just an increased number of risk-free trades and additional educational materials. So, this may not be worth the customers’ time or money. Additionally, the broker’s behavior raises suspicion.
Bonuses and Promotions
This unscrupulous broker is only concerned about your funds, despite their promises to the contrary. In fact, they may even go to the lengths of urging you to download remote desktop access apps such as TeamViewer.
By gaining access through these applications, they can then manipulate your online banking or crypto wallet, ultimately transferring all of your funds directly to the company’s account.
It is critical to note that the Bitsterzio broker is not operating with your best interests in mind. However, it is solely focused on their own financial gain.
Deposit and Withdrawal Procedure
Are you curious about the funding methods that this broker allegedly has? Note that it’s impossible to even open an account with them.
In addition to keeping this information hidden from potential clients, the broker does not disclose any details about transaction fees, except for the first one. Beware, as the extent of these fees is unknown.
In light of these alarming red flags, it’s highly recommended that you steer clear of this fraudulent broker. Protect yourself and your finances by choosing a more reputable and trustworthy option.
How Does Fraudulent Behavior of Offshore Brokers Work?
Unscrupulous brokers have a bag of deceitful tricks up their sleeves. Among the most common are withdrawal difficulties, poor reviews, and outrageous fees that can surpass 20%.
To add insult to injury, they may also charge a profit-sharing fee, with the aim of taking as much money from you as possible before you even attempt to withdraw. Beware of their hollow promises of guaranteed profits. Keep in mind that these are often an indication of fraudulent activity.
Legitimate brokers are typically regulated and hail from reputable countries like the EU, the US, the UK, and Australia. They are also required to disclose the percentage of clients who suffer losses on their platforms.
If you do fall prey to a fraudulent broker, there are options available. Filing a chargeback is the most viable course of action if you paid with a credit card. However, scammers may avoid accepting card payments altogether, making wire transfer deposits and crypto transactions even more difficult to recover.
Always take extra care to protect your personal information, such as your username and password. Changing them regularly is critical to avoiding the risk of being scammed.
Best Forex Brokers
Discover some of the most reliable forex brokers that will keep your money safe and secure. Choose from our handpicked selection of top brokers below.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Don’t fall into the trap of Bitsterzio. This is a broker you wouldn’t want to recommend. With no authorization to offer financial services and plenty of negative comments online, it’s clear your money won’t be safe. Before sending any money, always investigate a company thoroughly.
Be sure to check out other Bitsterzio reviews too, as they can be incredibly helpful in keeping you safe. Have you fallen victim to this fraudulent broker? Leave a negative review to warn others and help prevent future scams. Together, we can make a difference!
Is Bitsterzio Regulated?
No, Bitsterzio forex broker is not regulated. They have many things to hide.
Does Bitsterzio Offer a Demo Account?
No, Bitsterzio doesn’t offer a real demo account.
What is the Minimum Deposit for Bitsterzio?
The minimum deposit for Bitsterzio is 10,000 EUR. This is way too much!