Btyex Review – Funny Name For A Serious Forex Scammer

Btyex website has a design we’ve already seen before, with stock images used thousands of times over. Although it may look inviting at first, the main page doesn’t contain the all-important license information. You have to dig deep into the Terms and Conditions to even find out where the company is operating from.

See the remainder of our Btyex review for more information about this investment sham.

Bogus Registration And No License

Although it took some effort, we did find out that Btyex claims to be registered in St. Vincent and the Grenadines. The FSA register does not contain a company with such name, so this claim quickly goes down the drain.

Finding no information about a broker in the databases of FCA, BaFIN, FINMA, New SRO or CySEC is enough to paint Btyex as a fraud. What’s even worse is that the company is blacklisted by FSMA and CONSOB.

Financial regulators in the EEA require, by law, segregated bank accounts, negative balance protection and compensation funds. Leverage is capped at 1:30, and any bonuses are forbidden.

Clients of unlicensed brokerages are left without any of these safeties. Furthermore, illegal firms like Btyex and Coiniwelt use predatory strategies to run off with their clients’ funds.

Where Is This Scam Most Common?

The btyex.co website was launched in 2023. It is mostly oriented toward the demographic of these nations:

• Belgium
• Canada
• Portugal
• Netherlands
• Sweden

Btyex employs review seller networks to leave positive reviews online. The next part is played by the boiler room agents, who don’t stop pestering their mark through the phone for days on end asking for money.

They demand exponentially larger sums of money, claiming incredible deals. When the client tries to withdraw, however, the company locks their account, blocks their phone, and moves on to the next victim.

Fake Reviews Boost Reputation

If you head on to TrustPilot, you will be led to believe that the firm has a solid reputation. This is the work of the aforementioned review seller networks.

Filtering these testimonials to show only 1-star rating will give you the real picture. Dissatisfied clients all complain about Btyex denying their withdrawals.

If you’ve deposited with the Btyex scam, contact our legal professionals via the live chat. We are available 24/7 and our first consultation is free.

Expenses You Can Expect At Btyex

Btyex offers a leverage of 1:100, which is over the legal cap in the EEA. That is the only trading parameter that is clarified – all other trading costs are a complete secret. Dormant account fee is $30, and is charged after 31 days of inactivity. An additional $2,000 fee is applied for reactivating dormant accounts.

The company claims to charge no deposit or withdrawal fees. Their clients, however, complain that Btyex charges hidden fees up front when the clients request a payout, which is against the law.

Problematic Bonus Conditions

While btyex.co doesn’t contain offers for different bonuses, they have a very detailed bonus policy. This bonus policy says that clients need a trading volume of deposit+bonus x25 before they may withdraw. Such insanely high amounts of profit are nearly impossible to achieve.

Lackluster Trading Features

Contrary to the advertisements found on btyex.co, none of their trading features are even mediocre, let alone “ultimate” or “excellent”.

The selection of trading instruments is lower than what you’d find with a regulated brokerage, and their trading platform is nothing special either. There are only live trading accounts, which are quite expensive to fund.

Substandard Trading Platform

Although the client dashboard of Btyex says that the trading server is MT4, this industry standard platform is nowhere to be found. What you get instead is a simple Web Trader, and no mobile app support.

This platform is plagued not only by obsolescence, but also poor execution speed and security. It’s favored by frauds like Btyex and EuroPrime because of how easy it is to manipulate.

Trading Instrument Choices

The trading instrument selection at Btyex is diverse, but it still lags behind the industry average. The selection includes the trader favorites, and some other less popular assets.

Here is a brief outline of asset categories:

• Forex (EUR/USD, AUD/NZD, GBP/CHF, USD/JPY)
• Cryptocurrencies (Bitcoin, Ethereum, Ripple, Cardano, DogeCoin)
• Shares (Adidas, Hyundai, Microsoft, Airbus)
• Indices (Dow Jones, WIX, US100, JP225)

Live Trading With No Demo

Btyex tries to introduce tiered account types to try and make an illusion of diversity. The accounts in question don’t make much of a difference, and there is no demo.

The initial deposit amounts aren’t cheap:

• Basic – $5,000
• Advanced – $25,000
• Advanced Plus – $125,000
• Advanced Pro – $250,000
• Expert – $500,000
• VIP – $1,000,000

Excuses To Deny Withdrawal

Besides the bonus policy, there are additional hurdles when it comes to Btyex withdrawal. For instance, clients can’t withdraw a sum lower than $100 by bank card, or $1,000 by bank wire.

Not that this matters, since the only withdrawal method available is the cryptocurrency transfer, which is untraceable. For help with Btyex withdrawal, contact our chargeback expert.

Btyex Customer Support

We couldn’t reach the Btyex customer service, since the only available options are to request a callback, or send an email. People who need urgent assistance with their issues are left hanging.

Knowing how these con artists operate, the alleged customer support centers are most likely the same boiler room agents that push additional Btyex investments.

How Can I Get My Money Back From These Frauds?

Btyex is an unregulated and unlicensed bogus broker, and a danger to unwary traders and investors. The firm employs pushy boiler room agents to pester people by phone to invest money with the platform. When the clients decide it’s time for a withdrawal, these swindlers ask for more money up front.

If you have any money deposited with the Btyex con scheme, consider starting legal action to recover your funds. Our chargeback experts are on hand 24/7, and we have ample experience with tricksters just like these.

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