Bitmarket-Trader, the brokerage firm, operates in complete anonymity. They deliberately withhold any information regarding their address or ownership, leaving potential investors in the dark. The only hint about their registration country, Estonia, is derived from their Terms and Conditions, where they claim to be subject to Estonian laws.
However, this is just the tip of the iceberg when it comes to irregularities. To uncover the full extent of these issues, it’s essential to delve into our Bitmarket-Trader review with meticulous attention.
Legal Information: Is Bitmarket-Trader Trustworthy or a Scam?
Despite operating under Estonian governing laws, one would naturally expect Bitmarket-Trader to hold an FIU license. Strangely, they do not possess this crucial certification. Their assertion of adherence to MiFID II regulations also appears to be far from the truth.
In an effort to verify their legitimacy, we conducted thorough checks across Tier 1 regulatory registers, including the FCA, BaFin, and ASIC. Regrettably, none of these reputable registers confirmed Bitmarket-Trader’s regulatory status. Given these concerning findings, it is strongly advised to distance yourself from this broker as a matter of utmost caution. Your financial security should always be a top priority.
Who Falls Victim to Bitmarket-Trader?
An examination of Bitmarket-Trader’s activities, as documented on whois.com, reveals that this broker has been in operation since 2023. Over this period, the company has primarily targeted and victimized traders hailing from:
- Belgium
- Netherlands
- India
If you’ve had an encounter with this broker and wish to share your experience, please consider reaching out to our chargeback team. In the end, we may be able to provide assistance in recovering your funds, offering a potential remedy to those who have suffered losses. Your feedback and cooperation can be instrumental in addressing the issue.
Conclusion
In conclusion, Bitmarket-Trader raises serious concerns regarding its legitimacy and compliance with regulatory standards. The broker operates anonymously, lacking transparency about its ownership and address. Despite claiming to adhere to Estonian governing laws and MiFID II regulations, there is no concrete evidence of regulatory approval.
Furthermore, our investigation found no trace of Bitmarket-Trader being regulated by renowned authorities such as the FCA, BaFin, or ASIC. This lack of regulatory oversight is a significant red flag.
Bitmarket-Trader has reportedly targeted traders in Belgium, the Netherlands, and India, potentially exposing them to financial risks.
Given the lack of transparency, regulatory compliance, and the reported victimization of traders, it is strongly recommended to exercise extreme caution and avoid dealings with Bitmarket-Trader. If you have fallen victim to this broker, it is advisable to seek assistance from relevant authorities or financial professionals to explore options for fund recovery. Your financial security and peace of mind should always be a top priority in the world of online trading.
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