Name of Broker: Bittrain
Warned By: Not recommended by Scam Victims Help Community
Address: Tirana, Albania
Regulated By: None
Overview of Bittrain Review 2022:
There might be a Forex broker or any other broker latching on to you just as you read this sentence. With the advancement of technology, online scam brokers can reach us at the speed of light. Scam brokers follow different ways to fool innocent traders like – cold calls about the unending benefits of opening an account with their brokerage firm or through good online marketing, these scams have a unique yet common way of finding their victims.
If you want to avoid these scam brokers, read the scam broker review here and know the reasons why you should not invest with them. Bittrain is one such potential scam broker who is involved in many scam activities. Read a complete Bittrain review to know more about this broker.
What all should you look for in Bittrain Review 2022?
Scams are deadly.
Having the potential to make someone go into a debt trap, the scammers lure their victims in with irresistible offers and discounts. In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them. Remember, nobody has a right over your money.
Bittrain Review: Regulation
The regulation is one of the most significant checkpoints that one must look for while searching for a brokerage firm. With the increasing inflow of scammers in the market, the regulations set up barriers to ensure the scammers stay away from the market. For this, they introduced the licenses. To acquire a license, the broker must go through some tests. However, these tests are not as easy as they might sound. If a company does not have a license, it means it is UNAUTHORISED and not fit for trading. In our case, if Bittrain is unregulated, then this raises the first red flag against Bittrain in this Bittrain review 2022. Read More Scam Broker Reports 2022.
Bittrain Review: Minimum Deposit
The minimum deposit is generally asked in small amounts by the legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by the legitimate brokers lies in the range of $5 to $10. If Bittrain asks for an amount more than the average, chances are that Bittrain is a scam.
Bittrain Review: Leverages
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. The leverage is even capped at 1:30 and 1:50 in the European countries and the USA respectively. If Bittrain offers leverage more than this, it is a sign that Bittrain is a potential scam.
Conclusion: Is Bittrain scam or legit?
To sum up, all that has been said above, we give you the power to decide whether Bittrain is a scam or not. We request the readers to move forward with extreme caution. If you have been a victim of Bittrain scam or any other broker, do not feel embarrassed. File a complaint right now and get instant help from our team!
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