Do you trade on forex market? Do you consider using BitMartExpo broker for trading? If yes, stay with us and read this review to find out if bitmartexpo.com is the trading platform you will want to trade with.
About BitMartExpo
BitMartExpo is an offshore brokerage company with a lot of promises for traders. This broker’s address shows Hungary.
Also, the broker offers different account types such Base, Base Plus, Standard, Advanced, Professional and VIP. What is more, FX broker trades on the following instruments like forex, stocks, commodities, crypto, bonds and indices.
To clarify BitMartExpo claims, traders must know they are dealing with an unknown broker with no regulation over its head.
Withdrawal and Deposit
BitMartExpo Minimum Deposit / Withdrawal process
BitMartExpo asserts that the minimal withdrawal amount is $30. It also talks about a 320 Satoshi per byte as a withdrawal fee, when taking money via a BTC wallet. Regrettably, this is a common scheme usually used by risky FX broker to keep traders under the cloud.
Further, BitMartExpo minimum deposit is indicated $250.
As for the payment methods, the broker mentions different options. However, you should not consider making any payment with this broker because it is a risk. So beware!
BitMartExpo Platform
BitMartExpo offers web based trading platform which cannot be compared with MT4 or MT5 (Industry standard trading platforms). Truly, it gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1:100. From all indications, we say don’t consider doing that with an unregulated forex broker like this one, because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Other Discovery Made About bitmartexpo.com Broker
First of, Bitmartexpo com has no financial authority overseeing its financial services despite claims from Financial and Capital Market Commission, Latvia , and CySEC. Actually, none of these regulate BitMartExpo.
Another red flag we discovered about this broker, is that there is no demo account for traders. If traders can’t test the broker on a free account, how then can we know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
BitMartExpo Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Final Thoughts:
Bitmartexpo.com claims to be a genuine trading broker is not legit. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers . Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was this article informative? Share with us your experience on the comment section below.
Heard of Cmtpro , Forextimeprime brokers? Read here!
