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UKBTC Review – Find Out What This Broker Can Offer
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UKBTC is a scam investment platform that claims to offer the earning of passive income. But, the truth is, the UKBTC broker is one of the potential tricks. If you do not want to lose your investment, it is better to keep your money away from this broker.
They also operate in the crypto niche. On top of that, they are also boldly claiming to be regulated by none other than the Financial Conduct Authority themselves (FCA).
Which of course is a complete lie this UKBTC broker review will tell you all you need to know about this investment scam.
|Broker Type||Crypto and CFD|
How Are You Protected at UKBTC? Broker Regulation
Despite its claims to be trustworthy and transparent, it turned out that the contradictions with this broker start from the very beginning. The reason is that there is different information about UKBTC’s country of incorporation.
If you open the “About the company ” section on its desktop version you’ll see that UKBTC claims its headquarters to be in the UK and also notes that it’s regulated by the local watchdog, the Financial Conduct Authority (FCA).
We carefully checked the registers of FCA but no company with the name of UKBTC was to be found. On its mobile version, however, the broker displays completely different information in the same section. There, the UKBTC claims to be based in Colorado, US.
It also states that it is a member of the NFA. This claim can be seen at the bottom of the website both on mobile and desktop. Of course, we searched the registers of NFA just to find out that UKBTC is not a member.
Available Trading Software
On its main page, we see the UKBTC trading platform advertised as proprietary software for desktop and mobile devices. There are links for Windows, macOS, Android, and iOS. However, clicking on any of these links redirects you to another website where you cannot even register.
Therefore, we’re unsure whether UKBTC has a trading platform and what kind of software is available. That’s why most legitimate brokers opt for third-party solutions, such as MT4 and MT5. And don’t fall for the cheap trading software these scam brokers like to offer.
Account Types Offered
When it comes to the trading account types, UKBTC scam claims they offer the following ones:
However, no data can be helpful for the trader. None of the listed information says anything about leverage, spread or minimum deposit requirement. These details are very important for every investor.
What Market Instrument Can Be Traded at UKBTC?
While conducting this UKBTC review we saw that on their website they claim they offer their clients the possibility to invest in the following:
So, honestly speaking, their trading instruments are nothing special and they don’t have a big array of them. Because of that and also because they are unregulated and unlicensed, we do advise and suggest you find a good and reliable broker.
Deposit and Withdrawal Process
UKBTC claims to have more than 20 payment systems to choose from. Nothing more is mentioned however and since we couldn’t register we are clueless about what payment options to expect as well as if the above-stated is true or not.
Nonetheless, we expect all kinds of fraud from this broker, since it has lied about so many things already. The best thing you can do is to avoid investing here for your own good.
How Do I Get My Money Back If UKBTC Scams Me?
In case you already deposited your money with this scam broker and they refuse to give your money back, don’t worry, there is still a way to retrieve it.
The first thing you should do is try to find all the emails as proof that you have been requesting the money back from them but they keep stalling.
The next step is to perform a chargeback if you have deposited with a credit and debit card. Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back.
However, if you have deposited your funds in crypto, getting your money back can be much harder. This is because these transactions are fairly anonymous and therefore much harder to trace. We by no means are saying that in this case you should just give up and let the broker pocket all your hard-earned money, but just to be patient. First thing you should do is report them to the local authority as they will help you immensely.
In our UKBTC review, we tried our best to warn you against this scam broker and the fraudulent activities they are trying to pull off. They allegedly offer their customers an opportunity to invest in CFD and crypto.
However, some of the most basic information about them is missing, indicating that you are dealing with fraud. Never work with a broker that is not transparent about their business as it is always just a huge red flag.
On the internet there can be found many complaints made against the broker on withdrawal issues as well as high deposit amounts, so we concluded that you should just stay away from them.
Think twice before taking any risks while investing money and keep in mind that this investment scam will demand at least $100 while legit brokers will ask for as little as $5 as an initial deposit.
The last thing that we must mention is that this broker also has been issued a warning by some of the biggest regulatory bodies including the UK’s FCA and Spanish CNMV.
FAQs About UKBTC Broker
Is My Money Safe with UKBTC?
No, your money isn’t safe with UKBTC as they are no more than a scam broker operating without a license.
How Long Does it Take to Withdraw From UKBTC?
They claim it only takes up to 10 days, but many people say they were just ignored when they requested a refund.
What Are The Funding Methods For UKBTC?
UKBTC unfortunately also failed to provide any information about their funding methods.