With the latest technology being delivered at our fingertips in this era, we often take the internet for granted and choose to look over the harmful effects of the internet. From clicking on the random links for the confirmation or advertisements to opening a trading account with any broker, scammers have a creative way to find their victims. It is very necessary for investors to avoid trading with scam brokers that are harmful to their investments and funds.
Here, in the Bitengecko review, you will learn the potential scam activities of the scam brokers. Bitengecko’s review lets you know about the different key points to look upon while investing and the red flags that should be taken into consideration. Bitengecko scam has made many people the victim here by pretending to be a legit broker.
Bitengecko Review in Detail –
Bitengecko claims its address in Switzerland and Ireland ( 51 Fitzwilliam Square West, Dublin 2, D02 X504, Ireland; Chemin du Canal 5, 1260 Nyon, Switzerland). As mentioned on their website, it claims to offer trading services to investors of all levels i.e from beginners to experienced. The regulation status of the Bitengecko is not clear, which clearly means the broker is hiding something and is not managed by any legit financial authority. It can be seen in various online platforms that the broker is actively involved in illegal and fraudulent activities resulting in the Bitengecko scam.
Several important points regarding Bitengecko scam that are worth reading for –
- Bitengecko is stated as a potential scam by the FMA (Financial Market Authority) New Zealand.
- The Bitengecko broker keeps on insisting and convincing their users to deposit a higher amount of money.
- The victims who have already invested with these scam brokers are now unable to withdraw their money.
- The victims are not able to communicate with the broker with which they have invested or do not hear from them again.
- It is to be noted that the broker is listed as the “Fraudulent Online Trading Platforms” as per the Belgian financial markets regulator [Financial Services and Markets Authority (‘FSMA’), which makes the Bitengecko scam more real.
- FSMA also stated that these scam brokers convince the victims to take the control of their user system to manage the access of money transfers.
Charactestics of a fraud broker-
- The scammers lure their victims in with irresistible offers and discounts.
- As you all might know, the regulation is one of the most important checkpoints that one must look for while searching for a brokerage firm.
- The minimum deposit is generally asked in very small amounts by the legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations.
- Leverage is yet another common checkpoint that one must look for while checking for a broker online. Due to their direct involvement with the risk, leverages are offered in small amounts.
Is Bitengecko scam or legit –
To sum up, all that has been said above, we give you the power to decide whether the Bitengecko scam is true or not. We request the readers to move forward with extreme caution. If you are a victim of the Bitengecko scam, report the scam right now and get instant help from our team!
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