Bitech Max Review – Scam or Good Forex Broker?

As of May 2023, the Bitech-max.com has ceased operations. But you can read the article to avoid falling for similar scammers.

Is Bitech Maxi a Trading Scam without a Licence?

We don’t know anything about broker Bitech Max. Apart from the alleged addresses in Singapore, Hong Kong, we don’t know anything about the official owner or governing law. Two phone numbers are given to us, one from Canada, and one from the UK. This, along with the alleged Asian residency, only adds to the confusion.

Investor protection is only possible with a broker license. Bitech Max should be registered as a Forex broker with Singaporean MAS or SFC in Hong Kong. We found no result when we checked these registers.

The firm also claims to offer exceptional crypto transactions services. Therefore, it would need an exemption from approval by the Monetary Authority of Singapore. Our search for exemptions failed to produce any results.

Bitech Max, as a broker house that is boarding EU residents, would need to adhere to ESMA rules regarding leverage limits and MiFID directives concerning transparency. We don’t know anything about leverage or the business policy.

Bitech Max, a Singapore-based trading company offering crypto transactions and trading services, is claimed to be Bitech Max. Although there is no authority that oversees the crypto market, Bitech Max would need to be exempted from having a license from Singaporean MAS. This they have not done.

Are Bitech Max Scam Victims Living in Canada?

Bitech Max’s trading fraud has been in operation since August 2022. We’ve received many complaints during this period, most of which came from:

• UK
• Canada
• Switzerland
• Netherlands

The list clearly shows that the phone numbers that the company provided us were a tool to convince victims that they are dealing with local trading firms. Always carefully examine any offer you receive. It is best to decline any offer that sounds too appealing.

Before we get into more detail, we want to point out that SagicorFinance and DamkoNET are fraud brokerage companies.

Bitech Max Support – Polite Scammers

The support provided by the scammer was described as polite and courteous. Investors have written many Bitech Max reviews that the broker staff is kind and patient as long as they are depositing funds.

They will tell you all you need to hear, and then use various sales techniques and scripts to convince you to invest. They will make you false profit promises in order to coax money from you once you have made a deposit.

It may sound like a great opportunity to retire early with their aggressive marketing and guaranteed returns. Don’t be fooled. There is no easy way to make money. These polite fraudsters will demand that you pay non-existent fees and costs to withdraw your funds. Then, they will freeze your trading account and make you disappear.

Bitech Max WebTrader Platform

We must first mention that this broker does not support third-party trading platforms such as MT4, MT5, and cTrader. Bitech Max’s only trading platform is the basic WebTrader. It can be launched from any browser, without the need for installation.

Although it sounds convenient, such tools can be easily manipulated. Worse, every click we made to test the software redirected us back to the homepage. It seems that this web-based tool has lost its function and trades are not possible.

Mobile Trading App – How Can I Get It?

The software works only through a browser, and does not require any additional apps. Bitech Max login is only possible via a mobile browser. The software you get on your mobile browser will be the same as that available on your desktop. You cannot trade.

You would get a mobile app if the company offered MetaTrader or another reputable trading platform, just like licensed brokers.

What can I trade with a broker?

Here’s a list of tradable assets to help you get started.

• Currency pairs: EUR/USD/GBP/AUD, CAD/JPY/CAD
• Commodities – Gold, Natural Gas, Wheat
• Indices – BE20, IBEX35, NASDAQ
• Shares Nvidia, BMW and BOA
• Cryptocurrencies – BNB, USDT, MATIC

Bitech Max Fees & Spreads

Although the spread is advertised as low, there are no specifics. They also announced that they will offer leveraged trading without caps.

The brokerage charges 0.5% to 1% depending on the type of account. It’s not clear if it is per lot, trade or from what amount. Scammers often don’t care about legitimate commissions because their ultimate goal is to steal every cent of yours.

Bitech-Max.com Verification Issues

Important to remember that you must verify your identity to deposit funds. Depending on your country of residence, you may be able to deposit very small amounts of money without verification.Verification is required as the minimum deposit for Bitech Max Forex broker is 5,000 GBP. This scam broker, however, ignores the laws and allows you to deposit without a confirmation of identity in order to get your funds.Your account manager will ask you to verify your account before you make a withdrawal request. They will provide all the documents and requests you require, including photos in color and printed statements. It can take weeks, or even months. Anti-money laundering law suddenly becomes the holy Bible.Many people were critical of the withdrawal process. Document verification is often used to stop clients from receiving their payouts. You may also be required to pay taxes or nonexistent fees. This is illegal.

What is a chargeback?

Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!

Bitech Max: Video

Below you will find a short video about Bitech Max. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Bitech Max!