BTSE Review: Ponzi Scam, KYC Verification Hassles & Account Blocks Hit Traders Hard

Have you lost your capital with BTSEs Ponzi scam? Did the forex broker onboard you by promising no KYC verification on both deposits and withdrawals, only to be proven wrong in real time? Have you been facing account blocks by the Virgin Islands-based forex broker? These complaints have become usual with traders at BTSE Exchange. In this BTSE review article, we have shared some of these complaints for you to look at. Read on!

Top Complaints Against BTSE Exchange

The Startling Ponzi Scam Allegation

Traders accuse the broker of running Ponzi scams, making traders lose a significant amount of capital. As traders lose and inquire about this with the broker, their accounts get blocked, trapping their hard-earned capital. Frustrated by this incident, one trader shared this BTSE review online. Take a look!

Withdrawal Amount Applied, But No Reflection in the Trader‘s Bank Account

Applying for withdrawals and failing to receive them into the bank account is also becoming very common at BTSE Exchange. In one case, the trader applied for a withdrawal amount of $500. The amount was also debited from the trading account, as shown on BTSE login. However, the same amount did not reach the trader’s bank account. Heres what the trader said when sharing the BTSE Exchange review.

The False ‘NO KYC Verification’ Claim

A lot of traders have complained about the ‘NO KYC Verification’ claim by the BTSE app on deposits, withdrawals and even trading. However, many traders accounts get blocked after depositing or executing other transactions in the name of KYC verification. Some even submit the documents required by the broker for KYC. However, the scenario does not change for traders. Here are multiple screenshots supporting this complaint.

Poor Trading Service Accusation

Traders also accuse the broker of locking deposits without any notification. While submitting the customer service request, traders have to input the entire order information. However, after doing all these, traders only witness account blocks. Here is a screenshot explaining the story in greater detail.

Deposits & Withdrawals Get Frozen for a Long Time

Traders also comment that deposits and withdrawals remain frozen for hours on BTSE Exchange. The broker even doubts whether traders remain the wallet owners. One trader, while sharing the BTSE review, has expressed that the broker is clueless of how the transaction works. Here is that screenshot explaining this complaint.

WikiFX Shares the BTSE Exchange Review: Score & Regulation Status

These complaints are no longer issues; they have gone on to dampen the BTSE Exchanges reputation in the trading community. Looking at this, the WikiFX team investigated the broker minutely by checking its regulatory status. No surprises, the broker does not have a valid forex license, raising serious investment risks for the trader. This made us give BTSE a score of just 1.54 out of 10.

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