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Bitech Max Review – Reasons to Avoid This Scam Broker
Table of Content
Bitech Max Review, If you were looking for a definition of a broker scam you can find all reasons with this broker. Bitech Max broker is a completely anonymous entity that claims to be operating from Singapore and Hong Kong. However, on their website, there is no information about ownership, regulations, or else.
That is already raising suspicion about this company. On top of that, they lack regulations. As the broker that offers FX and CFD trading, they need to provide some security to the clients, but they don’t.
Since they are trading only since 2022 we can’t expect anything more than a broker scam from this non-reputable broker. But not to jump to a conclusion, let’s check them step-by-step in our detailed Bitech Max review.
|Headquarters||Singapore / Hong Kong|
|Minimum Deposit||5.000 GBP|
Is Bitech Max A Legit Broker? Regulation and Security
If they are operating from Singapore or Hong Kong as they are saying, they should have licenses of MAS (SG) and SFC (HK). Going through the database of licensed companies with these regulatory bodies we found no trace of Bitech Max broker. Suspicion is on the highest level already.
We have checked as well some other world-known Tier 1 regulators like FCA, BaFin, or ASIC. The results were the same.
According to Bitech Max broker reviews, they are scamming traders from the UK, Canada, Switzerland, and the Netherlands. Since there are many European countries involved, we checked as well if they comply with MiFID and ESMA rules. Unfortunately, this broker doesn’t provide any information about leverage, spreads, or any other trading conditions that would help us with clarification.
Overview of Trading Software
Bitech Max broker doesn’t offer any reliable and stable trading platform besides their Web trader. This is basic software with very limited TA tools and, besides that, it malfunctions. Even though it looks user-friendly it’s not. And it can be very easily manipulated.
For experienced traders, this would be a complete nightmare because the software is not optimized for mobile devices and it is very slow. On top of that, it doesn’t provide any social trading tools, support EAs, or advanced indicators and signals. To be honest, it can’t come near industry standards MetaTrader and cTrader.
Account Types Provided by Bitech Max
This broker offers different account types. Any higher deposit doesn’t bring some significant benefits that you wouldn’t get somewhere else with a basic account. However, the minimum requirements are:
- Micro – 5.000 GBP
- Advanced – 20.000 GBP
- Silver – 100.000 GBP
- Gold – 250.000 GBP
For reference, a micro account with a licensed broker starts at $10. That way, you can test the platform and trading conditions. Not to waste 5.000 GBP to try it out. The only financial benefit that you get with a higher deposit is smaller commissions by max 50%.
Still, for any of these accounts, they don’t disclose trading conditions like leverage or spreads. For a fraudulent company, these requirements are bizarre.
Bitech Max offers a variety of trading instruments through different classes. However, we shouldn’t give much credit to those since they are not regulated. They don’t provide a reputable platform. Therefore, all data presented about those assets could be fictive and not reliable.
Anyway, the list of assets is here:
- Forex – USD/SGD, EUR/JPY, EUR/AUD
- Commodities – oil, cotton, platinum
- Indices – BE20, AU200, CAC40
- Shares – Starbucks, McDonald’s, Cisco
- Cryptocurrencies – BTC, XRM, ADA
Broker offers standard payment methods like cards, bank transfers and crypto transfers. However, they require verification of the account for the start. The whole idea is that they build a picture where an Anti-Money Laundering (AML) policy is very important.
When you are depositing it doesn’t matter, they just want your money. However, once you try to make your first withdrawal that’s where the problem starts.
They bring the story about AML policy and they require from you specific documentation. Of course, that takes forever and every other time you are missing something. When you reach the point that you have provided everything possible, they start making up additional fees that you have to pay. Don’t do it by any chance! If you get in a situation like that, you know that they will never give you your money.
Another excuse not to give you your profits are non-existent taxes. You don’t pay taxes to the broker, but to your country for earned income. And you can do that by yourself once you get your money out. So don’t fall for cheap tricks.
Many customers are complaining about withdrawal issues in Bitech Max broker reviews. Read them first and make your own opinion.
How Do I Recoup the Funds I Lost to Bitech Max?
Since Bitech Max is not a regulated broker you don’t have an institution to go to. That’s the primary benefit of licensed companies. However, you can always share your story. Other people will see it and won’t get scammed.
If you got scammed by this investment fraud, you still have a solution to get your money back with a chargeback. Our expert team can give you step-by-step instructions for the process. Don’t waste any more time and contact us today! Time is money.
Bitech Max Summary
- Non-transparent and unregulated broker
- Unclear trading conditions
- Unstable trading platform
- Very low-quality trading tools
FAQs About Bitech Max Broker
Is Bitech Max A Good Broker?
This broker is not reliable at all. They don’t have licenses for trading FX and CFDs. On top of that company is completely anonymous.
Is My Money Safe at Bitech Max?
Absolutely not. You don’t have negative balance protection, they don’t clarify trading conditions and they are not regulated.
What Is The Minimum Deposit for Bitech Max?
The minimum requirement is 5.000 GBP. This is way too higher than the minimum of regulated companies. Those even offer a micro account of 10$ while here, a micro account requires 5.000 GBP.