Caution Investors Bitrade-Market – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements. Found at www.bitrade-market.com is not registered in Ontario to engage in the business of trading in securities. 

Overview of Bitrade-Market

Bitrade-Market is a website that claims to be a leading provider of trading services in various digital assets and forex markets. According to its website, Bitrade-Market offers access to over 100 trading instruments, including Bitcoin, Ethereum, Litecoin, Ripple, Dash, and more. It also claims to offer low spreads, high leverage, fast execution, and secure transactions. Bitrade-Market claims to have been operating since 2014 and to have over 500,000 clients worldwide.

Regulation and Compliance of Bitrade-Market

However, despite its claims of being a reputable and trustworthy platform, Bitrade-Market has been flagged by the OSC as a potential scam. The OSC is the regulatory body that oversees the capital markets in Ontario, Canada. The OSC warns that Bitrade-Market is not registered in Ontario to engage in the business of trading in securities or derivatives. This means that Bitrade-Market is operating illegally and without any oversight or protection for investors. The OSC also warns that Bitrade-Market may be soliciting investors through online advertisements, social media platforms, or cold calls. The OSC advises investors to exercise extreme caution when dealing with Bitrade-Market or any other unregistered online trading platforms.

Customer Reviews of Bitrade-Market

A quick search on the internet reveals that Bitrade-Market has received many negative reviews and complaints from customers who have used its services. Many customers have reported that Bitrade-Market is a scam that does not allow them to withdraw their funds or profits. Some customers have also reported that Bitrade-Market has manipulated their trading accounts, charged them hidden fees, or closed their accounts without any explanation. Some customers have even claimed that Bitrade-Market has threatened them with legal action or harassment if they try to expose their fraudulent activities.

Products and Services Offered By Bitrade-Market

According to its website, Bitrade-Market offers four types of trading accounts: Basic, Silver, Gold, and Platinum. Each account type has different minimum deposits, spreads, leverage, commissions, and bonuses. Bitrade-Market also claims to offer a demo account for beginners who want to practice their trading skills without risking any real money. However, as we have seen above, these claims may not be true or reliable. Bitrade-Market may not honor its terms and conditions or provide the services it promises.

Location of Bitrade-Market

Bitrade-Market does not disclose its physical address or contact information on its website. This is a red flag that indicates that Bitrade-Market may be hiding its identity or location from regulators and customers. The only way to contact Bitrade-Market is through an online form or an email address. However, these methods may not be responsive or helpful for customers who have issues or queries with their accounts or transactions.

Customer Service Provided By Bitrade-Market

As we have mentioned above, many customers have complained that Bitrade-Market has poor or nonexistent customer service. Customers have reported that Bitrade-Market does not answer their calls or emails, does not resolve their problems or disputes, or does not provide any support or guidance for their trading activities. Customers have also reported that Bitrade-Market has rude or abusive staff who do not treat them with respect or professionalism.

Defensive Measures Against Fraudulent Brokers

If you are looking for a legitimate and regulated online trading platform, you should avoid Bitrade-Market and any other unregistered platforms that may be scams. You should always check the registration status of any platform you are considering using with your local securities regulator or authority. You should also do your own research and due diligence before investing your money in any platform. You should look for platforms that have positive reviews and ratings from reputable sources, such as Trustpilot or Forex Peace Army. You should also look for platforms that have transparent and fair terms and conditions, clear and reasonable fees and charges, secure and convenient payment methods, and responsive and helpful customer service.

Conclusion

Bitrade-Market is an online platform that claims to offer trading services in various cryptocurrencies and forex markets. However, it is not registered in Ontario to engage in the business of trading in securities or derivatives. The OSC has warned that Bitrade-Market may be a scam that may be involved in fraudulent activities. Many customers have also reported that Bitrade-Market has scammed them of their money or profits. Therefore, we recommend that you avoid Bitrade-Market and any other unregistered online trading platforms. Instead, you should look for legitimate and regulated platforms that can provide you with safe and reliable trading services.

Caution Investors Cryptosmartinvestment.com – This entity is likely to be offering financial services to Australian consumers. It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee

Overview of Cryptosmartinvestment.com

Cryptosmartinvestment.com is a website that claims to provide smart and secure investment opportunities in the cryptocurrency market. The website states that it has a team of experts who can help investors to trade and manage their portfolios of various digital assets, such as Bitcoin, Ethereum, Litecoin, Ripple, and more. The website also claims to offer educational resources, market analysis, trading signals, and customer support to its clients.

Regulation and Compliance of Cryptosmartinvestment.com

However, the Australian Securities and Investments Commission (ASIC) has issued a warning regarding the registration, issuance, offer or sale of securities or derivatives, and reporting requirements of  cryptosmartinvestment.com. According to ASIC, cryptosmartinvestment.com is not registered or licensed to provide financial services in Australia, and it may be involved in a scam. ASIC advises investors to avoid dealing with this website and to report any suspicious activity to them.

Customer Reviews of Cryptosmartinvestment.com

A quick search on the internet reveals that many customers have complained about cryptosmartinvestment.com. Some of the common complaints are:

– The website is not secure and does not have a valid SSL certificate.

– The website does not provide any information about its owners, operators, or legal status.

– The website does not disclose any fees, commissions, or charges that it may apply to its clients.

– The website does not allow its clients to withdraw their funds or close their accounts.

– The website uses aggressive and misleading marketing tactics to lure unsuspecting investors.

– The website does not respond to customer queries or complaints.

Products and Services Offered By Cryptosmartinvestment.com

According to its website, cryptosmartinvestment.com offers the following products and services to its clients:

– A web-based trading platform that allows investors to trade various cryptocurrencies with leverage up to 1:1000.

– A mobile app that enables investors to access their accounts and trade on the go.

– A personal account manager who can guide investors through the trading process and provide them with tips and advice.

– A variety of educational resources, such as webinars, e-books, videos, articles, and tutorials on cryptocurrency trading.

– A market analysis section that provides investors with daily news, updates, trends, and signals on the cryptocurrency market.

– A customer support team that is available 24/7 via phone, email, live chat, or social media.

Location of Cryptosmartinvestment.com

The website of cryptosmartinvestment.com does not provide any information about its location or address. However, according to some online sources, the website is operated by a company called Smart Investment Group Ltd., which is registered in St. Vincent and the Grenadines. This is a known offshore jurisdiction that has lax regulations and oversight for financial services providers. Therefore, investors should be wary of dealing with this website as they may not have any legal recourse or protection in case of any dispute or fraud.

Customer Service Provided By Cryptosmartinvestment.com

The website of cryptosmartinvestment.com claims to have a customer service team that is available 24/7 via phone, email, live chat, or social media. However, many customers have reported that they have not received any response or assistance from the website when they tried to contact them. Some customers have also claimed that they have been harassed or threatened by the website’s representatives when they asked for their money back or tried to close their accounts.

Defensive Measures Against Fraudulent Brokers

Cryptocurrency trading is a risky and volatile activity that requires careful research and due diligence before investing. Investors should be aware of the potential scams and frauds that may occur in this market and take some defensive measures to protect themselves. Some of these measures are:

– Check the registration and license status of any website or broker that offers cryptocurrency trading services. Investors can use ASIC’s MoneySmart website or other reputable sources to verify this information.

– Avoid dealing with websites or brokers that are based in offshore jurisdictions that have weak regulations and oversight for financial services providers.

– Read the terms and conditions, fees, commissions, charges, risks, and disclosures of any website or broker before signing up or depositing any money.

– Use secure and reputable payment methods when transferring funds to or from any website or broker. Avoid using anonymous or untraceable methods such as wire transfers, cryptocurrencies, gift cards, or prepaid cards.

– Keep track of your transactions and balances on any website or broker. Request regular statements and reports from them and verify their accuracy.

– Be cautious of any website or broker that promises unrealistic returns, guarantees profits, or offers free bonuses or incentives to invest with them.

– Be wary of any website or broker that uses aggressive or misleading marketing tactics, such as cold calls, emails, texts, or social media messages, to solicit your business.

– Be alert to any signs of fraud or scam, such as difficulty in withdrawing funds, closing accounts, contacting customer service, or receiving unsolicited offers or requests for personal or financial information.

– Report any suspicious activity or fraud to ASIC or other relevant authorities as soon as possible.

Conclusion

Cryptosmartinvestment.com is a website that claims to offer smart and secure investment opportunities in the cryptocurrency market. However, ASIC has issued a warning regarding the registration, issuance, offer or sale of securities or derivatives, and reporting requirements of this website. The website may be involved in a scam and investors should avoid dealing with it. Investors should also take some defensive measures to protect themselves from fraudulent brokers and scams in the cryptocurrency market.

Caution Investors Elitefxtraders.net – This entity is likely to be offering financial services to Australian consumers. It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee

Overview of elitefxtraders.net

Elitefxtraders.net is a website that claims to offer online trading services for forex, commodities, indices, stocks, and cryptocurrencies. The website states that it is operated by Elite FX Traders Ltd, a company registered in St. Vincent and the Grenadines. The website also claims that it has a license from the Australian Securities and Investments Commission (ASIC), the financial regulator of Australia.

Regulation and Compliance of elitefxtraders.net

However, according to a recent warning issued by ASIC on 24 January 2024, elitefxtraders.net is not authorized to provide financial services in Australia or to Australian residents. ASIC states that elitefxtraders.net has been using a fake Australian Financial Services (AFS) license number and a misleading ASIC logo on its website. ASIC also warns that elitefxtraders.net may be involved in a scam and advises investors to avoid dealing with this broker.

Customer Reviews of elitefxtraders.net

A quick search on the internet reveals that elitefxtraders.net has received many negative reviews and complaints from customers who have lost money or experienced difficulties in withdrawing their funds. Some customers have also reported that they have been contacted by aggressive sales representatives who pressured them to deposit more money or to pay fees or taxes before they could withdraw their profits. Many customers have also accused elitefxtraders.net of manipulating the trading platform, providing false or misleading information, and ignoring their requests or queries.

Products and Services Offered By elitefxtraders.net

According to its website, elitefxtraders.net offers four types of trading accounts: Basic, Silver, Gold, and Platinum. The minimum deposit required for each account ranges from $250 to $50,000. The website also claims to offer various features and benefits for its clients, such as low spreads, high leverage, fast execution, free education, market analysis, trading signals, webinars, bonuses, and rewards. However, these claims are not verified or supported by any evidence or testimonials.

Location of elitefxtraders.net

The website states that elitefxtraders.net is operated by Elite FX Traders Ltd. The website also provides an address in Kingstown, St. Vincent and the Grenadines, as well as a phone number and an email address. However, these contact details are not reliable or trustworthy, as St. Vincent and the Grenadines is a well-known offshore jurisdiction that does not regulate or supervise forex brokers. Moreover, the phone number provided by elitefxtraders.net is not an Australian number but a UK number, which raises further doubts about the legitimacy of this broker.

Customer Service Provided By elitefxtraders.net

The website claims that elitefxtraders.net provides 24/7 customer support via phone, email, live chat, and social media. However, many customers have reported that they have not received any response or assistance from the customer service team of elitefxtraders.net. Some customers have also complained that the customer service representatives were rude, unprofessional, or unhelpful. Furthermore, some customers have stated that they were blocked or banned from accessing their accounts or contacting the customer service after they requested a withdrawal or filed a complaint.

Defensive Measures Against Fraudulent Brokers

If you have been scammed by elitefxtraders.net or any other fraudulent broker, you should take immediate action to protect yourself and recover your money. Some of the steps you can take are:

– Report the scam to your local authorities and regulators.

– Contact your bank or payment provider and request a chargeback or a refund.

– Gather all the evidence and documentation related to your transactions with the broker.

– Seek legal advice or assistance from a reputable lawyer or a recovery agency.

– Warn other investors and traders about your experience and share your review on online forums or platforms.

Conclusion

In conclusion, we strongly advise you to stay away from elitefxtraders.net and any other broker that is not regulated or licensed by a reputable authority. Elitefxtraders.net is a scam broker that has been using a fake ASIC license number and logo to deceive investors. Elitefxtraders.net has also received many negative reviews and complaints from customers who have lost money or faced difficulties in withdrawing their funds. Elitefxtraders.net is not a trustworthy or reliable broker and you should avoid dealing with it at all costs.