BTC EU – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
BTC EU - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://btceu.pro
Founded: 2023
Regulations: None
Languages: English, German
Deposit Methods: Wire Transfer, MasterCard, Bank Transfer, Visa, Maestro, e-wallet
Minimum Deposit: $250
Free Demo Account: Unavailable
Number of Assets: N/A
Types of Assets: Forex, Indices, Digital Currencies, Shares, Commodities
Trading Accounts and Conditions
Here are trading account types offered by BTC EU as well as the trading conditions:
- Standard: The minimum funding required to open this account is $250. Spreads start from 0.13pips, and the leverage is up to 1:100.
- Pro: The minimum funding required to open this account is $500. Spreads start from 0.1 pips and the leverage is up to 1:300.
- Elite: The minimum funding required to open this account is $1,000. Spreads start from 0.0 pips and the leverage is up to 1:600.
BTC EU – Advantages
There are no advantages to trading with BTC EU.
BTC EU – Disadvantages
Here are all the reasons why BTC EU is not to be trusted and had been marked a scam operation:
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Lack of Regulation
The biggest sign that BTC EU is a scam operation is the fact that they are no regulated – and that they lie about it. The reality is that this broker is operating through anonymity: we do not know which company runs this brokerage. We also do not know where they are located as there is no address provided, and there is not telephone number given either. All we do have is a single email ID, but that does not help us identify this broker at all.
Since this broker has not given any information about themselves – including their regulation status, we can confidently state that this broker is an illegal entity and therefore a scam.
Legitimate brokers are legally required to display all their corporate and regulation information on their website clearly and in detail. This is the amount of transparency required of authorized brokers. So, when this information is missing, you know you are dealing with an unauthorized and scam broker.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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No Legal Documents
Another fact that tells us that we are dealing with a scammer is that this broker has no legal documents in place. Despite going through their website in detail, we could not find terms of service or other related documents.
Once again, legitimate brokers are legally required to present their legal documents on their website – where all visitors can easily access them and read through the terms of service offered by the broker.
When these documents are missing, then traders do not know what the terms of service are. You will not know what fees the broker is charging for you to use their platform. You will also not know what their policies for withdrawals, deposits and so on are. So, if you sign up with such a broker and then lose all your funds, no authority will be able to help you.
This is why it is so important for traders to check the terms of service being offered by a broker before they sign up and invest their money with them.
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Issues with Registration and Trading Platform
We usually try to register for an account with the broker that we are reviewing. This way, we get to assess the registration process and we get to see whether the trading conditions and the platform offered by that broker are actually what they claim them to be.
With BTC EU, we were unable to register because this broker’s registration form was malfunctioning. After filling in the form, we clicked on the submit button, but nothing happened. This means that the only way that you would be able to open an account with this broker would be contacting them directly to resolve this glitch.
This is a tactic commonly used by scammers. When they contact you, then they ask you to deposit money using the method they prescribe. Once you have done so, then there is no way for you to get back in touch with them.
As for their trading platform, the broker claims to offer the world’s best web trading platform. The world’s best platform is the MetaTrader 5, not some random software this broker claims to offer. And we also need to point out that there is no link to this so-called trading platform. This makes us question whether this broker actually has any kind of a trading platform at all!
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Issues with Trading Conditions
We also need to highlight the trading conditions this broker presents on their website. We have no way to corroborate this information as we could not register for an account with them and therefore check their trading platform for ourselves. So, we can only base our review on what is presented on their website – which is also enough to tell us we are dealing with a scammer.
Firstly, the trading conditions are incomplete. We have a minimum deposit requirement, we have spreads, and we have leverage ratios. But we do not have any other trading conditions – the fees, the commissions, the order execution methods and so on.
While the spreads look extremely attractive, without knowing what the commissions are, we cannot say whether the cost of trading with this broker is advantageous or not. As for the leverage, it is much too high at a maximum of 1:600. We need to point out here that most jurisdictions have placed limits on how much leverage is allowed (UK, the EU and Australia only allow 1:30, the US and Canada allow 1:50, Japan allows only 1:20 and so on).
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Unknown Withdrawal Policies
While this broker displays multiple payment methods on their website, there is no way we can verify this claim. Added to that since there are no legal documents, we do not know what their payment policies are.
Conclusion
BTC EU is another one of those shady brokers that cannot be trusted – they are a scam and investing with them would be dangerous.
BTC EU
Pros
- None
Cons
- Lack of Regulation
- No Legal Documents
- Issues with Registration and Trading Platform
- Issues with Trading Conditions
- Unknown Withdrawal Policies
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.