BitmartExpo Review: All About BitmartExpo.Com
Another well-known scammer reappears with a domain slightly different from the last one. BitmartExpo is an old fraud with a new domain. Luckily their activities didn’t last long. The new bitmartexpo.com renders inoperable, just like the previous one.
However, we’re terribly sorry if you have already invested in this con. Chances are, your funds are irreversibly lost. Our BitmartExpo review gets to the bottom of the entire unscrupulous shared.
BitmartExpo originally lists two addresses as their headquarters – Latvia and Hungary. Without other crucial company data, this hardly has any meaning. Legal documents list the laws of the Vanuatu republic as the legal framework BitmarkExpo abides by.
The company behind the website is supposedly regulated by the top-tier financial authority – CySEC (Cyprus). It didn’t take us long to rebuke this lie. Keep reading this review to find out how to exactly check if your broker of choice is a legitimate entity or a fraud like BitmartExpo.
|Domain||Bitmartexpo.Com – inactive
Bitmart-expo.Com – inactive
Is BitmartExpo Reliable Broker? Regulation and Safety
The only mention of the regulatory standards at the BitmartExpo site is about the license from CySEC. An outward lie, by all means, is easily checked by going through the CySEC commercial register of authorized entities. BitmartExpo is, of course, not listed as a broker that has gained permission from CySEC to engage in the brokerage business.
Not to be immediately judgy, we decided to check several more databases that financial authorities keep. We have quickly realized our search for BitmartExpo’s license is hopeless. The broker wasn’t regulated by any major financial entity, including FCA, ASIC, IIROC, NFA, AMF, BaFin, and CONSOB.
Scanning the database of Hungarian, Latvian, and Vanuatu’s financial regulators was also in line. The results were negative, whatsoever. BitmartExpo is not licensed by a jurisdictional regulator wherever they mention their offices to be.
The fact that BitmartExpo offers its financial services and products in the EEA without regulation by any EU financial authority is proof of illegal activity. All brokers operating in EEA have to have a license from some of the EU regulatory bodies. They also comply with MiFID rules to provide transparency and additional customer protection.
The regulatory framework refers to keeping the investments in segregated accounts to prevent misusage. It also includes negative balance protection and leverage restriction as a measure of reducing the risk of loss. The broker provides none of that and even offers bonuses, which are banned in the EU zone.
BitmartExpo Trading Platform
BitmartExpo trading software is hardly impressive in any way. A plain web trader can’t rank high in comparison to industry leaders like MetaTrader 4 and MetaTrader 5. Notably slower, with reduced functionality, the terminal is not reliable for beginners or professional traders.
There’s no other way of achieving profitable results except by trading on exceptional software. MT4 and MT5 are above all other currently used platforms in the entire Forex industry.
MT5 is an especially advanced trading system with genuine features like advanced Market Depth, various trading orders, execution modes, and a range of analytical tools. We wholeheartedly recommend this software over any generic web platform that financial swindlers like BitmartExpo use.
Trading Instruments You Can Trade
With a leverage of up to 1:100 and spreads starting from 0.6 pips, traders can buy and sell the following groups of tradable assets:
- Forex (EUR/USD, EUR/CHF, USD/JPY, CAD/USD, CHF/USD)
- Stocks (Facebook, Tesla, BMW, Adidas, Microsoft, Apple)
- Commodities (Metals, Oil, Cotton, Sugar, Wheat)
- Crypto (BTC, ETH, LTC, USDT)
- Indices (S&P 500, Dow Jones, Nasdaq)
- Bonds (treasury bonds, municipal bonds, corporate bonds)
BitmartExpo Offers Bonuses and Promotions
Nothing is easier than for a broker to add a fictive amount of money to your trading account as a bonus to your deposit. Because that is exactly what BitmartExpo does to motivate you to invest more. Bonuses on your deposits can go up to 100%. However, there are several dreadful details the scammer does not warn you about.
The original idea is to push you into investing but not let you make a genuine profit and withdraw it. Bonuses ensure that in several ways.
Trading volume requirement is a way of imposing irrational standards of turnover to prevent you from retrieving your investment. It means that the fraud will allow you to request a refund only after trading a certain amount.
Other conditions that come with non-deposited funds you get as rewards are high fees. What’s worse, even if you pay the charge for withdrawing, the scammer can still claim all your funds and deny the request!
Deposit and Withdrawal Methods
Digital currencies appear to be the only method of making transactions at BitmartExpo. Nothing strange about that. Basically, every other scammer accepts only crypto depositing to keep their precious anonymity. By staying under the radar of the financial authorities, they easily avoid being penalized.
Favorizing crypto payments are obvious in terms of withdrawals as well. Sadly, BitmartExpo doesn’t reveal the exact conditions under which all withdrawals are processed. The fees or estimated time of handling your withdrawal request are also hidden. This concerning lack of anonymity is not new for a scammer of this type.
How Does The Fraud Work?
BitmartExpo operates on similar basics as other swindlers do. Your casual internet browsing will inevitably lead you into a contact if you ever show interest in the forex market. BitmartExpo has trained agents constantly lurking the social networks for new potential victims.
Once the contact establishes, there’s rarely anything that stops the boiler room professional from crossing the line of formalities with you. In the role of your new best friend, they will offer you the riches on the plate. For a certain price, obviously. However, compared to the potential gain their services cost trivial money. So you invest once, twice, or more.
The trading terminal shows nothing but wealth accumulating each day, the more you invest. However, the illusion breaks once you ask for the withdrawal.
The Best Brokers for Forex
Instead of risking losing your entire life savings with BitmartExpo and similar cheaters, try these regulated brokers instead. Our choice of popular brokers is here to offer you great suggestions and a safe way of profiting.
Aside from ensuring the safety of funds and advanced customer protection, these brokers offer amiable trading conditions. With the best pricing, an adjustable trading environment, and reliable software, profit is at your hand’s reach.
Opening a Demo account to examine what each broker offers costs you nothing. Even if you decide to invest at some point, it will cost you almost nothing.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Today’s BitmartExpo review has shown you the importance of choosing a regulated broker. Since BitmartExpo is definitely not a genuine, trustworthy brokerage house, we have also offered you some popular preferences.
Experienced traders also hold these brokers in high regard so don’t hold back if you are testing possible investment plans.
To successfully avoid getting robbed by fake brokers like BitmartExpo, always check if your broker-dealer has a license. It’s the only rock-solid proof of a legitimate trading business.
Whatever else the negotiation might offer is less credible and relevant in comparison to regulation. Therefore, please always go with a licensed brokerage enterprise instead and enjoy profitable results!
FAQs About BitmartExpo Broker
What Funding Methods Does BitmartExpo accept?
BitmartExpo only accepts deposits made via crypto. No other funding methods are possible.
How Long Do BitmartExpo Withdrawals Take?
BitmartExpo does not specify any of the conditions referring to withdrawals. Characteristic lack of transparency for a scammer.
Is My Money Safe with BitmartExpo?
Without the necessary regulation, BitmartExpo can’t provide the safety of funds and security of user information.