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BITFXTRADE

WikiFX | 2024-12-27 15:40

Abstract:BITFXTRADE presents itself as a company registered in the United Kingdom specializing in both foreign exchange and cryptocurrency trading. It boasts of offering 12% referral commissions and providing a choice of four distinct trading plans. However, this broker is currently operating without any regulations.

Note: BITFXTRADE's official website - https://www.bitfxtrade.ltd is currently inaccessible normally.

BITFXTRADE Review Summary
Founded/
Registered Country/RegionUnited Kingdom
RegulationUnregulated
Market InstrumentsForex, Cryptocurrency
Demo Account❌
Leverage/
EUR/USD Spread/
Trading PlatformWeb
Min Deposit$50
Customer SupportLive chat, contact form
Email: admin@bitfxtrade.ltd
Physical address: Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX

BITFXTRADE presents itself as a company registered in the United Kingdom specializing in both foreign exchange and cryptocurrency trading. It boasts of offering 12% referral commissions and providing a choice of four distinct trading plans. However, this broker is currently operating without any regulations.

BITFXTRADE's homepage

Pros and Cons

Pros Cons
Low minimum depositUnavailable website
No deposit/withdrawal feeNo regulation
Live chat supportLimited tradable asset classes
No demo accounts
Commissions charged
No MT4/5
No reliable platform
Limited payment options
Only email support

Is BITFXTRADE Legit?

Regarding regulation, it has been confirmed that BITFXTRADE is not subject to any valid regulatory regulations. Please be aware of the risk.

What Can I Trade on BITFXTRADE?

As we mentioned previously, the BITFXTRADE website is currently unreachable. The only information we can gather is that BITFXTRADE primarily offers foreign exchange and cryptocurrency exchange investment services.

Tradable Instruments Supported
Forex✔
Cryptocurrencies✔
Commodities❌
Indices❌
Stocks❌
Bonds❌
Options❌
ETFs❌

Trading Plan

BITFXTRADE claims to offer plans, namely Plan1, Plan2, Plan3 and Plan4. The minimum initial deposit amount is only $50 for Plan1, while the other three plans have much higher minimum initial capital requirements of $300, $2,000 and $5,000 respectively.

Trading Plan

Commission

BITFXTRADEs website openly states that the company offersup to 12% referral commissions, which seems like a tactic to lure more people into their potential scam.

Deposit and Withdrawal

BITFXTRADE states that it currently accepts deposits and payments in various cryptocurrencies, including PerfectMoney, Bitcoin, Litecoin, Ethereum, Dash, and Dogecoin. The brokerage further indicates plans to incorporate Payeer and Advcas in the second phase of its project.

However, it's crucial to note that cryptocurrency payments are non-reversible, posing significant risks, especially considering that BITFXTRADE operates without any regulatory oversight.

The minimum initial deposit required is reportedly just $50, while the minimum withdrawal amount for cryptocurrencies is $60. Both deposits and withdrawals are claimed to be instant and free of charge.

Payment icons
DealerBrokerCurrency PairCommissionForex tradingForex BrokerForex Currency pairforex market

Related broker

No Regulation
BITFXTRADE
Company name:BITFXTRADE
Score
1.42
Website:https://www.bitfxtrade.ltd
2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.42

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