BitMarket Capital Review: A New Scheme On the Trading Market
BitMarket Capital Review: A New Scheme On the Trading Market

Let’s delve into this BitMarket Capital review and find out who this broker is and whether you can trust it. There are a lot of issues with the company, so be careful before handing your hard-earned money.

Our detailed research can guide you through ways to avoid crypto scams. And, if you have already fallen victim, we can advise you on the steps to take.

Broker status:Unregulated Broker
Regulated by:Unlicensed Trading Scam
Scammers Website:bitmarket-capital.com
Blacklisted as a Scam by:N/A
Owned by:N/A
Headquarters Country:Canada (allegedly)
Foundation year:2023
Supported Platforms:Proprietary platform
Minimum Deposit:$10,000
Cryptocurrencies:Yes – BTC, XRP, ETH
Types of Assets:Cryptocurrencies
Maximum Leverage:N/A
Free Demo Account:No
Accepts US clients:No

Is BitMarket Capital a Licensed Crypto Broker?

BitMarket Capital claims to have its headquarters in Canada. For this to be true, the company would need to be registered with the official regulator, IIROC, or province authorities, such as OSC and BCSC. Upon searching through all these, we found nothing.

The most confusing part comes from the Terms and Conditions. According to those, BitMarket Capital operates from London under the laws of the UK. Again, this implies a Tier 1 regulation from the Financial Conduct Authority. Once again, we searched, and once again, we hit the wall.

Simply put, BitMarket Capital is not a licensed crypto broker but a bogus scheme website.

Where Does the Broker Operate? – Countries Of Service

BitMarket Capital Countries Of Service

As you can guess so far, this broker is mainly soliciting investors from the UK and Canada. Hence, the false addresses.

The domain, bitmarket-capital.com, was registered through OwnRegistrar on the 12th of January, 2023. There have been no regulatory warnings as of yet, but we believe many are to come. And your report can help us pressure the authorities to ban the broker sooner rather than later. So don’t hesitate to share your story!

BitMarket Capital Platforms Choice

BitMarket says to offer you the chance to start trading the world’s most exciting crypto, Bitcoin. They do so by providing you with a proprietary platform. However, we were unable to access it without making an initial deposit first.

Since we’re unwilling to pay money to scammers, we’ll skip this step. Instead, we’ll explain the difference between proprietary software and third-party platforms like MT4, MT5, and cTrader. The first one was created and owned by a brokerage house. Therefore, the company can always access your funds and change the outcome of your trades.

Third-party systems, however, have their own owners, and the broker doesn’t have access to the “backside” of it. Additionally, MetaTrader and cTrader have far more features and offer access to dedicated desktop and mobile apps.

Leverage, Spreads, and Fees

Since we couldn’t access the platform, we couldn’t verify trading costs or leverage. The website doesn’t mention any. However, it only means you can be charged hefty and have no proof that you’re being ripped off.

What Can I Trade?

The brokerage heavily advertises crypto, Bitcoin, before all else. In addition, they listed coins like:

  • DASH,
  • BAT,
  • SNX,
  • ZIL, etc.

Other than that, they claim to offer access to various ICOs. ICO, or Initial Coin Offering, is an opportunity for investors to purchase a coin before it has a market value. They’re essentially boosting it to appear on the market, expecting the value to increase once the coin is publicly traded.

However, most ICOs, including here OneCoin, are fake. This is why it’s essential to be wary and check each opportunity that sounds too good to be true.

BitMarket Capital Account Types

Speaking of “too good to be true,” let’s take a look at account types and promised returns.

  • Green – $10,000 – ROI 2%
  • Silver – $50,000 – ROI 3%
  • Gold – $100,000 – ROI 3-5%
  • VIP – $250,000 – ROI 4%
  • 1 Million Club – $1,000,000 – ROI 5%

Each of these is a “guaranteed return.” Therefore, BitMarket Capital is essentially promising you to earn 2-5%, with the possibility of reaching an even higher percentage.

Note that legitimate brokers are not allowed to promise or guarantee anything. The market is volatile, especially the crypto one. Therefore, no person can predict it with 100% certainty. We won’t even bother to go through other alleged perks, as they’re clearly false.

BitMarket Capital Withdrawals

At this point, we doubt that withdrawal is possible. However, if you want to test it out, you can try. According to reviews we found, it’ll be a vain attempt.

The website doesn’t display available payment options, and the legal documents don’t specify anything. Since we’re talking about a crypto broker, we’ll assume BitMarket Capital will ask for a deposit via crypto. This is the best way for scammers to extort money since crypto is not subject to a chargeback, unlike credit cards.

We always advise you to stick to traditional means of payment, such as a bank card or a wire transfer, in case of payments to unverified merchants. If, however, you’ve already made a deposit via crypto, there’s a way to track and trace your digital coins with expert help.

I Was Scammed By BitMarket Capital, What Can I Do?

Depending on the means of payment, you can request a chargeback, recall a bank wire, or report a case to your bank’s fraud department. Suppose you used your crypto wallet. You need CipherTrace analysts to help you track and trace your digital coins.

We’re offering guidance and assistance through a recovery procedure. Our experts are here to hear your story and advise on the best course of action. Note that our consultation is free of charge, and the only thing that can happen is to give you knowledge. Book your appointment today!

What Is BitMarket Capital?

BitMarket Capital is an unregulated online crypto trading broker.

Is BitMarket Capital Available in the United States or the UK?

BitMarket Capital is not available in the US, but the company is soliciting UK investors.

What is the Minimum Deposit with BitMarket Capital Broker?

The company requires a minimum deposit of $10,000, which is incredibly high.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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