BTS Markets – Is It Safe or a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
BTS Markets - DO NOT TRADE WITH THIS PROVIDER
2.7/10
$100
Minimum Depositupdated 2020
This broker has given very little information about its trading conditions. All we know is that BTS Markets offers its customers a single trading account, called the Standard account. The minimum deposit requirement for this account is $100, and the maximum leverage offered by this broker is 1:100.
We do not have any other information with regard to the trading conditions; we do not know what the spreads are, or even whether the broker offers other account types once you register.
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://btsmarkets.com/En
Founded: 2018
Regulations: Unregulated
Languages: English, Chinese
Deposit Methods: Unknown
Minimum Deposit: $100
Free Demo Account: Available
Number of Assets: N/A
Types of Assets: Forex and CFDs on Indices, Metals, Bitcoin
Trading Accounts and Conditions
This broker has given very little information about its trading conditions. All we know is that BTS Markets offers its customers a single trading account, called the Standard account. The minimum deposit requirement for this account is $100, and the maximum leverage offered by this broker is 1:100.
We do not have any other information with regard to the trading conditions; we do not know what the spreads are, or even whether the broker offers other account types once you register.
BTS Markets – Advantages
While we found a lot of things wrong with this broker, we did find a couple of things that were positive:
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MetaTrader 5 Offered
BTS Markets offers its customers the ability to trade on the Forex market using the MetaTrader 5 platform. The MT5 platform is the latest version of the MetaTrader interfaces, a step up from the world’s most popular MT4 trading platform.
This platform offers all that the MT4 platform does – numerous charting options, market indicators, automated trading bots and so on. In addition to these features, the MT5 platform also allows users to trade on exchange-traded stocks.
So, BTS Markets offering this kind of platform for trading to its clients is a big plus for us.
BTS Markets – Disadvantages
Besides the fact that BTS Markets offers the MT5 trading platform, there isn’t much else that is good about this broker. There are too many red flags which compel us to warn our readers against dealing with this broker.
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Corporate Information Unclear
According to the information available on BTS Markets’ website, the broker is trademarked to the company called BTS Limited. The broker claims that this company is registered in New Zealand. However, when we checked the Contact Us page, we found that the contact address was in London, UK.
Besides these two pieces of information, BTS Markets offers nothing – there is no telephone or fax number.
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 License or Registration
Considering that the corporate information provided by BTS Markets is so scanty, it is not surprise that we have found that this broker is not regulated in any way.
To give the broker the benefit of the doubt, we decided to check the online registers of the financial regulators in both New Zealand as well as the UK. Upon doing so, we found that there is no BTS Markets or BTS Limited listed on either of the financial regulators’ websites. This means that this broker is not regulated.
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No Information on Spreads or Account Types
The basic information that any trader would require to make a decision about trading with a broker is missing. There is no mention of the types of accounts that BTS Markets offers.
There is also no information about the trading conditions. This is a huge red flag, since traders need to know how much of a spread if being offered, what the commission and transfer fees are to be able to make informed trades.
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Unrealistic Spreads on Demo Account
We did not mention the availability of a demo account in the advantages section for a reason. The benchmark currency pairs, the EURUSD, has a spread of 00.0 to 0.1 pips. And there is no commission fee applied.
If these are the conditions that are maintained in a live trading account, there is no way a broker will be able to sustain itself; it will go bankrupt really fast. Which is why we feel that the demo account has been rigged to hoodwink customers into registering for a live account.
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MT 5 Platform Provided by 3rd Party
BTS Markets offers its clients the MT5 platform for trading. What it doesn’t reveal is that this software has been provided by a third party. The name of the company that is providing support for the MT5 platform on this broker’s website is Vow Group Ltd.
Vow Group Ltd. is a company that is associated with two brokers – VowFX and Vow Markets. Both of these brokers have been flagged off as scammers. So, the fact that BTS Markets is associated with a known scammer is clear signal that traders should stay away from this broker.
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No CFDs on Stocks on the Demo Account
BTS Markets claims that if offers trading instruments such as Currency Pairs and CFDs on silver, gold, a small number of indices and Bitcoin. This broker does not, however, offer CFDs on stocks, which is what the MT5 platform is popular for.
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No Information on Deposits and Withdrawals
BTS Markets has not presented any information about how you can make payments or withdrawals from your account. The only piece of information we have is that the minimum required deposit amount is $100.
So, basically, if a trader decides to open an account with this broker, he or she will have to do so on faith. That would not be a good idea considering everything else we have unearthed about BTS Markets.
Conclusion
After going through BTS Markets’ website and trading platform (demo account) in detail, we conclude that this is not a broker that you should trust with your money. All the red flags we have found about this trader indicate that BTS Markets is a scammer that is out to rob you of your hard-earned cash.
If you are looking for a broker, the look for one that is licensed and reputed, so that you can concentrate on trading and not worry about whether your money is safe or not.
BTS Markets
Pros
- MT5 Trading Platform Offered
Cons
- Unclear Corporate Information
- No License or Registration
- No Information on Spreads or Account Types
- Unrealistic Spreads on Demo Account
- No CFDs on Stocks on Demo Account
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.
1 comment
definitely scam