why Btraders cryptocurrency Broker is a SCAM
When you Btraders trading, you don’t actually buy ripple with BTraders but are trading on the Market movement. you Buy ripple (XRP) or sell (XRP) and trade it against the price of other cryptocurrencies.
Why Btraders does not seem Legit :
In this case i start with the Conclusion as i want people to be aware of this Broker.
many new brokers open every day and it will be hard for people to know which one are legit and which ones are not. That said here there are enough signals to be cautious. Their website is below par and does not really provide you with any information, if you look to find how much trading actually costs , spreads , margin and other trading conditions , you will be disappointing as they are not mentioned anywhere on their site. the page shave spelling mistakes and over all there is actually no information about the broker itself.
i expect this broker not to last long simply because at no point do they appear to be professional, so it would be a sales team to harvest deposits and not much more.
So by all means open an account there and try them for yourselves but be critical and aware and most important be warned, this Btraders looks more like a scam then a broker that is working with a long term strategy and plans to be around for many more Years.
- Minimum spread for trading Ripple (XRP) = 3 pips
- lot size 0.01 units of pairing
- Minimum trade size 6$
This Broker is relative new and offers just one thing, Trading in cryptocurrencies. they started this in 2016 way before the hype actually hit the market because they understood that this is where the market and the financial industry is going to.
this said you will not be able to visit them or actually get a real sense as where they are Liocated.
the details they present are :
- LCR Technology Ltd.
- R.A Mladost 3, bl. 389, 1712
- Sofia City, Bulgaria
so you have company in bulgaria and the only telephone number mentioned is an UK number , this means they use a redirect and could be siting anywhere
Quality of DashBoard:
the overall quality is adequatebut not more then that.
Quality of Trading Platform:
the platform is simplicity itself , thou there are many aspect that does show that this is designed not by people that have been trading themselves .
the lacking of some basics tools and charting options makes this a poor binary Option platform at best.
they only difference is that they offer some pairs that you do not see everywhere.
Then the moment you want to trade you enter the trading arena through the Btraders Ripple Broker dashboard and open the Trading Platform.
At BTraders, they claim that their commitment in providing the good and solid trading experience while trading cryptocurrencies are their main core values
Building a platform for traders that look to trade only in cryptocurrencies shows that they are committed to this direction.
Their kind of broker is new altogether but more importantly then just they fact is that they are aware of this fact and greatly appreciate and welcome feedback to get themselves and thus their clients to the next stage.
So, while their profession is still in its beginning phase and there’s room for improvement they are advancing every week and are continuously building and developing
Withdraw money from your account
they say that you are able to withdraw money whenever you desire. You can either withdraw your money by transferring it to your bank account, or you can use your e-wallet., in all honesty i did not deposit simply because the website of this broker was so poorly designed that i could not bring myself to try them in depth.
Software requirements to trade with BTraders?
No software is required to trade cryptocurrency with Btraders. A PC or laptop with an internet connection is the only thing you need.
What browser should I use?
for trading on their system, you should use of browsers like Firefox 3 or higher, Google Chrome, Internet Explorer 10 or higher, and Safari
GENERAL RISK DISCLOSURE
BTraders (Owned and operated by LCR Technology Ltd. R.A Mladost 3, bl. 389, 1712 Sofia City, Bulgaria), are influenced products.
BTraders associated with foreign exchange, common assets and other underlying variables, involves a high level of risk and a possibility of loss of some or all of your investment. Please consider carefully whether trading or investing in bitcoin is appropriate to your financial situation. Only risk capital should be used when trading or investing in bitcoin. You must review Terms of Service and this Risk Disclosure prior to establishing an account.
Our advice look further and don’t bother with this broker.