Bitmarket-Trader Review – In-depth Analysis, Fake Offers and Many More

Bitmarket-Trader broker is an absolutely anonymous company. They don’t reveal any address or ownership details whatsoever. Only through their T&Cs, we can assume their registration country is Estonia, since the governing laws are allegedly those.

But that’s not the end with irregularities. To find them all you have to read our Bitmarket-Trader review carefully.

Legal Info: Is Bitmarket-Trader Legit Or A Scam?

Since the governing law is Estonian, you would expect this broker to have an FIU license. Yet, they don’t. Even though they claim to work in accordance with MiFID II regulations, that’s far from reality. 

In any case, we checked other Tier 1 regulatory registers to see if this broker is regulated anywhere. Yet, neither FCA, BaFin nor ASIC registers proved that. Therefore, run from this broker as far as you can.

Who Are Bitmarket-Trader’s Clients?

Analysis shows that this broker has been active since 2023. At least according to whois.com. But since then, the company has mainly scamming traders from: 

• Belgium
• Netherlands
• India

But what’s your experience with this broker? Let us know by reaching out to our chargeback team. In the end, we might help you with the funds recovery.

Investment Costs With Bitmarket-Trader

Another important thing about this broker is that they don’t reveal any trading costs, starting with spreads, fees and commissions. None of it is available transparently, except for the leverage of 1:200. 

Such high leverage is not allowed anywhere in Europe for retail traders. Thus, they expect you to trust them.

Bonuses

Another warning sign with this scam broker is their bonuses. Even though they don’t mention it transparently, T&Cs are hiding those details. Also, they are hiding a clause where you can’t withdraw non-deposited funds.

This means everything you gained with the bonus is also non-withdrawable. But who is to decide what’s made with it? Only the Bitmarket-Trader scam broker.

Bitmarket-Trader Trading Features

Bitmarket-Trader broker doesn’t even reveal its trading software. Even though they claim to have a world-leading social trading platform, that’s far from reality. The leading platforms are MetaTrader and cTrader. Not some bogus web-based software with minimum functionalities.

Is Bitmarket-Trader Legit?

Absolutely not. Bitmarket-Trader is far away from legitimate business. Without regulations, transparent software and conditions, they can’t be. But there are many more things that can define a broker as a scam. To find out which ones, read our Beurax review as well.

Available Trading Assets

As for the tradeable assets, the company offers a wide range of them. Yet, there’s no use of it when the broker is unregulated. Anyway, the options are:

• Forex – GBP/JPY, HKD/SGD
• Commodities – cotton, aluminum
• Indices – ASX200, China50
• Shares – Netflix, MasterCard
• Cryptos – BTC, DASH, USDT

Account Types

Surprisingly, the Bitmarket-Trader scam broker doesn’t offer conventional account types. Therefore, everyone gets the same conditions. On the other hand, you can choose: 

• Staking account
• Savings account

Mobile Trading App

Non-surprisingly, the mobile app is not available, primarily because they are most likely using a web trader. These options are great for market manipulation due to easy back-end access. Instead, you should opt for a Tier 1 licensed broker with trusted software. Such as cTrader or Meta Trader.

Demo Account

As a great exploring tool, we can always find a demo account. But very rarely with scam brokers like Bitmarket-Trader. They don’t offer any insight into the platform, most likely due to many flaws and irregularities about it.

Education

One more flaw of this broker is that they don’t offer any educational program. Their goal is just to extract your money, not to teach you how to trade properly. Otherwise, they should have a license, of course. 

But to understand better why education and knowledge are important, we invite you to read our CFDglobe review.

Bitmarket-Trader Withdrawal

Without a fully transparent withdrawal policy, processing time or fees, you can’t expect easy withdrawals. The company has the right to suspend or terminate your account or your use of it at any time, for any reason or for no reason. 

But also they reserve the right to change, suspend, or discontinue all or any aspect of their site at any time without notice. All this sounds like a proper scam.

Customer Support

Another warning sign is the Bitmarket-Trader contact options. There is only a web contact form available. But if you were expecting more transparent or traceable options, you are in the wrong place. For a broker that claims to have more than 100K happy customers, that’s quite poor customer support.

Key Information To Consider About Bitmarket-Trader

Primarily, the broker is not licensed by any authority. Not to mention trusted ones. They have a shady withdrawal policy and completely mysterious trading conditions. Not to mention unknown trading platform and funds protection features. All in all, not something any trader should look for.

Thus, everyone can crack under pressure. It’s not your fault because these guys are trained for it. But there is still one thing you can do about it. Report them to authorities and also apply for a chargeback. To find out the detailed steps, we strongly suggest you book a meeting with our specialists. In the end, the first meeting doesn’t cost you anything. Therefore, nothing to lose. Get in touch today!

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