No, BTB Inc is not a legit broker. BTB Inc, with its flashy website and promises of “unparalleled opportunities,” might initially appear as a haven for your financial aspirations. However, a closer look reveals a different story, one brimming with red flags and whispers of scam. Before you risk your hard-earned money, heed the cautionary tale woven by numerous negative reviews and a web of questionable practices.
What is BTB Inc?
BTB Inc presents itself as a multifaceted investment platform, offering access to a variety of financial instruments, including Forex, CFDs, and even cryptocurrencies. They boast user-friendly interfaces, educational resources, and competitive spreads, all wrapped in a seemingly professional package. But scratch beneath the surface and cracks begin to emerge.
BTB Inc Details
Regulated by: | Unregulated Scam Broker |
Is This Company Safe? | No |
Known Websites: | btb.inc |
Have Warnings from: | FCA |
Registered in: | UK |
Operating since: | 2023-02-06 |
Trading Platforms: | MT5 |
Maximum Leverage: | N/A |
Minimum Deposit: | 2,500 USD |
Deposit Bonus: | 15%-35% |
Trading Assets: | Forex, Commodities, Stocks, Cryptocurrencies |
Free Demo Account: | Unavailable |
How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds. |
Deposits and Withdrawals
Be The Bank has an extremely high initial deposit requirement of $2,500, which is much more than the industry average of some of the top brokers, who only ask for deposits of up to $200. Furthermore, a startling minimum deposit of at least $1 million is required for their premium account option.
If you have lost money to companies like BraxtonWM, or Trading Aureo; please report it to us on our Report a Scam form.
Account Types
BTB Inc offers a tiered account system, with each level unlocking additional features and supposedly, better trading conditions.
Account Type | Starting | Basic | Standard | Bronze | Silver | Gold |
Minimum Deposit | 2,500 USD | 10,000 USD | 50,000 USD | 175,000 USD | 600,000 USD | 1,000,000 USD |
Maximum Leverage | N/A | N/A | N/A | N/A | N/A | N/A |
Spreads | N/A | N/A | N/A | N/A | N/A | N/A |
Bonuses | N/A | 15% | 15% | 25% | 30% | 35% |
Red Flags and Warning Signs
On February 6, 2023, BTB Inc Limited was incorporated in the UK. The company was registered with fund management activity code 66300. Nevertheless, it lacks the license required to function lawfully.
The Financial Conduct Authority (FCA) of the United Kingdom verified this on October 30. In particular, the FCA cautioned neighborhood traders, emphasizing that the BTB broker is not permitted to offer services.
You “won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong” if you trade on this site. This implies that in the unlikely event that the company fails, you won’t likely get your money back,” the FCA states.
Customer Complaints and Negative Reviews
A closer look at customer experiences paints a grim picture. Users consistently report:
- Difficulties withdrawing funds: Numerous complaints detail accounts being restricted or frozen when withdrawal requests are made.
- Manipulative trading practices: Allegations of price manipulation and stop-loss hunting suggest deliberate efforts to drain user accounts.
- Poor customer support: unresponsive agents, unaddressed queries, and a general lack of communication are frequently cited.
BTB Inc Alternative Brokers
If you’re looking for a legitimate and trustworthy trading platform, steer clear of BTB Inc. Numerous reputable alternatives exist, offering transparent regulation, fair trading conditions, and reliable customer support. Consider established brokers with proven track records and strong reviews, such as Interactive Brokers, IG, or TD Ameritrade.
Got Scammed by BTB Inc? We Help Victims!
If you’ve fallen victim to BTB Inc’s deceptive practices, know that you’re not alone. Resources exist to help you recover your losses and fight for justice. Consider contacting regulatory bodies in your jurisdiction, reporting the fraud online, and seeking legal counsel. Remember, silence benefits the scammers; speaking up can deter them and protect others from falling prey.
In conclusion, the evidence against BTB Inc is overwhelming. From questionable regulation and manipulative practices to a mountain of negative reviews, red flags are abundant. Choosing BTB Inc as your trading platform is akin to navigating a financial minefield blindfolded. Steer clear, choose a reputable broker, and trade with caution. Your hard-earned money deserves better or You Can report to us today by the below form.
2 Responses