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Btcforex.uk is creating a euphoria moment with their advertising. The platform claims to offer investors a chance of winning huge with crypto investment. BTC Forex UK has already claimed funds from several investors. To stop it, we need to expose the red flags found on the platform. These are why we do it to keep the industry safe and advance crypto trading. Learn more in our clear BTCFOREX.UK REVIEW.
A Summary of Btcforex.uk
Despite claiming to reside in the UK, Btcforex.uk is an offshore-based platform. It’s simply using UK residence as cover. You can get to see one resident heaping praise on the platform’s homepage.
Before you jump in and decide to invest with the platform, you need to be aware of the red flags found. The platform doesn’t offer any chance of you profiting from it. Instead, we see an exit scam with the FCA planning to issue a warning soon.
As far as the web layout goes, the platform does a shoddy job in creating the website. There’s nothing to write home about when it comes to aesthetics. The other pagers, though, look enticing to the eye.
It’s one of the many reasons that investors sign up with platforms. The visual aspect will make the platform appear legit. Most of them don’t even bother to audit the platform before funding accounts.
That’s why we are here. To ensure all crypto platforms adhere to fair and safe investment and trading rules. There has to be an enabling environment for crypto investors. Unfortunately, BTC Forex UK is not even close to attaining basic requirements.
Before you join any crypto investment platform, you need to find out more about it. And this means having to ask around and see what others are saying about the platform. But, of course, you can also reach out, and we would be happy to help you.
Accounts Btcforex.uk and investment plans
Btcforex.uk offers four investment plans, each with a guaranteed profit margin. The four accounts include starter, basic, advanced, and ultra-plan. We will be looking closely at what each account brings to the table.
Starter
It’s the most basic account, with investors having to deposit a minimum of $20 and a maximum of $99. The small deposit amounts ensure the platform traps all classes of investors. In addition, there’s a promise of getting 120 percent ROI after 24 hours.
Basic
For the basic plan, members must deposit $100 to $999. The principal is also included on the platform. There’s a guarantee of making 140 percent ROI within 24 hours. And this is the most sort after plan, according to support.
Advanced
With the advanced account, the vesting period is extended to 72 hours. Again, there’s a guarantee of making 200 percent ROI. The acceptable minimum deposit is $1,000, with the maximum set at $9,999.
Ultra-Plan
It’s the most exclusive crypto plan available on the platform. You get a promise of making 300 percent ROI. The time is also short as the platform creates a promise of withdrawal within 48 hours.
Just below the account features, there’s a profit calculator. These are scam artists who want to take advantage of naïve investors. Unfortunately, no expert or robot can make such high guarantees.
With the crypto market, you get to see a lot of volatility. Prices change without giving users any warning. It’s the reason why you need to be extra careful with such promises. On the other hand, no one has by far made any withdrawals.
Advertisements using UK Fiverr members
To make sure the platform appears to target UK investors, we get UK advertisers. These are Fiverr members who get paid to do or say anything on the web. None of them even have a stake in the company.
The advertising method reminds us of when binary options scams were taking shape. And this points to a well-organized online group that targets naïve investors. So we have to expose them at every turn.
Are funds safe with Btcforex.uk?
There is no way funds are safe with a platform that fails to segregate funds. We believe the platform holds funds in a single bank account. It puts all funds at risk as the owner can face bankruptcy or insolvency.
The account will be collateral to cover any outstanding debts belonging to the owners. Without a valid license, it also means there’s no insurance cover. The platform does not deposit the required amount with regulators to offer trading services.
Btcforex.uk License and Registration
Btcforex.uk should have a license from the Financial Conduct Authority. Unfortunately, it’s not the case as the platform doesn’t have valid credentials. In addition, the name of the platform is not found on the official FCA page.
We also did a check using the Company House UK for clarification. The entity does not belong to any listed company. And this means BTC Forex UK is an anonymous and unregulated platform.
Stay away from any platform with the above risky features. Make sure to check and confirm with authorities whether the platform is legit. Ensure the license and registration numbers match that on the official regulator’s page.
Business holder
Information on who owns or runs the platform remains a mystery. The platform, though, claiming residency from the UK has no registration record. All we have is a business address at Chase Business Center.
Of course, the platform uses a genuine address. However, when you visit the building in person, there are no such offices. That’s why the platform fails to inform users of the people working behind the platform.
The name of the woman doing the presentation video remains unknown. We believe Btcforex.uk is an anonymous investment platform. You need to stay away from it or risk losing your funds. Anonymity is a feature you should avoid at all costs.
Contact and support
When choosing the right crypto investment platform to use, first test the support structure. Make sure to check out whether the platform responds quickly to emails. When you ask about withdrawals, there won’t be a response from the platform.
Without fast support, investors are lost in translation. In addition, the platform wants to control the communication process. That’s why the owners prefer to use VOIP calls and Skype profiles to contact members.
Domain records btcforex.uk
As we check the background and history of the domain, the truth comes out. The website has been operating since 2017. What the owner does is keep selling it to different online scam groups for profit.
As we publish this post, the platform has been running for 656 days. The name of the registrant is hidden for privacy reasons. But, of course, no one would want to associate themselves with the platform.
Funding Methods
There are several funding methods available on the platform. These include bank and wire transfers. You can also fund your account using Bitcoin. Sadly, the platform only accepts one Cryptocurrency.
We don’t recommend you invest with the platform for obvious reasons. There’s no way you can withdraw funds. Making such bold ROI claims is the first red flag you need to note. These are false claims meant to drive users to sign up with the platform.
Our Verdict
It would be best if you steered clear from Btcforex.uk for security reasons. The platform will access your bank records when depositing and manipulate your credit card. We have seen this before countless times.
Find out more regarding crypto investing and trading by talking to other crypto investors.
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