Caution Investors bitcoin-365.com – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Overview:
Bitcoin-365.com is a website that claims to provide access to online trading platforms for forex, stocks, commodities, indices, and cryptocurrencies. The website also claims to offer educational resources, market analysis, and trading signals. However, bitcoin-365.com is not registered or authorized to operate in Ontario or any other jurisdiction. The OSC has issued an alert to inform the public that bitcoin-365.com is not a legitimate broker and may be involved in fraudulent activities.
Regulation and Compliance:
One of the most important factors to consider when choosing a broker is whether it is regulated and compliant with the relevant laws and regulations. A regulated broker must adhere to strict standards of conduct, transparency, and investor protection. A regulated broker must also keep client funds in segregated accounts, provide fair and accurate pricing, and submit regular reports to the regulators. Bitcoin-365.com does not meet any of these criteria. It does not have a license or registration from any reputable regulator, such as the OSC, the IIROC, the FCA, or the CySEC. It does not disclose any information about its legal status, ownership, or location. It does not provide any proof of its financial stability, security measures, or dispute resolution mechanisms. It does not comply with any anti-money laundering or consumer protection laws.
Customer Reviews:
Another way to assess the credibility and reputation of a broker is to look at customer reviews and feedback. A trustworthy broker should have positive and consistent reviews from satisfied clients who can attest to its service quality, performance, and reliability. A scam broker, on the other hand, may have negative and inconsistent reviews from unhappy clients who have experienced problems with withdrawals, pricing, customer service, or other issues. Bitcoin-365.com has very few customer reviews online, and most of them are negative and alarming. Many clients have reported that bitcoin-365.com is a scam that refuses to process their withdrawal requests, manipulates their trading results, charges hidden fees, and harasses them with phone calls and emails.
Products and Services:
A reputable broker should offer a wide range of products and services that suit the needs and preferences of different types of traders. A reputable broker should also provide clear and accurate information about its products and services, such as the trading conditions, fees, commissions, spreads, leverage, margin requirements, execution types, order types, trading platforms, tools, and features. Bitcoin-365.com does not provide any clear or accurate information about its products and services. It claims to offer various financial instruments, but it does not specify the exact assets, symbols, or contracts that are available for trading. It claims to offer competitive spreads and commissions, but it does not disclose the actual values or calculations. It claims to offer high leverage and low margin requirements, but it does not explain the risks or consequences of using them. It claims to offer various trading platforms, such as MetaTrader 4 (MT4), WebTrader, MobileTrader, and CryptoTrader, but it does not provide any details or screenshots of how they work or what they look like.
Location:
A legitimate broker should have a physical address and contact details that can be verified and accessed by the public. A legitimate broker should also operate in jurisdictions where it is authorised and regulated by the relevant authorities. Bitcoin-365.com does not have a physical address or contact details that can be verified or accessed by the public. It only provides an email address and a phone number that are likely to be fake or unresponsive. It also operates in jurisdictions where it is not authorised or regulated by the relevant authorities. It targets investors from Ontario and other regions without having a license or registration from the OSC or any other regulator.
Customer Service:
A reliable broker should have a professional and responsive customer service team that can assist clients with any questions or issues they may have regarding their accounts or trades. A reliable broker should also have multiple channels of communication with its clients, such as phone calls, emails, live chats,
or social media. Bitcoin-365.com does not have a professional or responsive customer service team that can assist clients with any questions or issues they may have regarding their accounts or trades. It only has one channel of communication with its clients: phone calls. However,
these phone calls are often unsolicited and aggressive. They are used to pressure clients into depositing more money or opening more trades without providing any proper guidance or support.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like bitcoin-365.com. An unregulated company can do whatever it wants with your money without any oversight or accountability. It can use your money for its purposes, such as paying its expenses, funding its operations, or covering its losses. It can also refuse to return your money when you want to withdraw it or close your account. It can also disappear with your money without any trace or recourse.
Defensive Measures Against Fraudulent Brokers:
If you are looking for a broker to trade online, you should avoid fraudulent brokers like bitcoin-365.com at all costs. You should also take some defensive measures to protect yourself from falling victim to their scams. Here are some of the defensive measures you should take:
– Do your research. Before you sign up with a broker, you should do some research on its background, reputation, and regulation. You should check its website, social media, customer reviews, and regulatory status. You should also verify its address and contact details. You should avoid brokers that have no or negative reviews, no or fake regulations, no or vague information, or no or suspicious contact details.
– Read the terms and conditions. Before you agree to anything with a broker, you should read the terms and conditions carefully and understand what you are getting into. You should pay attention to the fees, commissions, spreads, leverage, margin requirements, withdrawal policies, dispute resolution procedures, and other important aspects of the trading agreement. You should avoid brokers that have hidden fees, high commissions, wide spreads, excessive leverage, restrictive withdrawal policies, or unfair dispute resolution procedures.
– Start small. Before you invest a large amount of money with a broker, you should start small and test the waters. You should open a demo account or a small live account and see how the broker performs in terms of execution, pricing, customer service, and withdrawal processing. You should avoid brokers that have poor execution, inaccurate pricing, unprofessional customer service, or delayed withdrawal processing.
– Be cautious. Before you trust a broker with your money or personal information, you should be cautious and vigilant. You should not fall for any promises or guarantees of high returns or low risks. You should not follow any advice or signals from the broker without doing your own analysis and research. You should not accept any bonuses or incentives from the broker without reading the fine print and understanding the implications. You should not deposit more money or open more trades than you can afford to lose.
Conclusion:
Bitcoin-365.com is an unauthorised entity that claims to offer online trading services in various financial instruments. The OSC has issued an alert to warn investors about this fraudulent broker. Bitcoin-365.com is not a legitimate broker and may be involved in fraudulent activities. It is not regulated or compliant with any laws or regulations. It does not provide any clear or accurate information about its products and services. It does not have a physical address or contact details that can be verified or accessed by the public. It does not have a professional or responsive customer service team that can assist clients with any questions or issues they may have regarding their accounts or trades. It may refuse to process withdrawal requests, manipulate trading results, charge hidden fees, and harass clients with phone calls and emails.
If you are looking for a broker to trade online, you should avoid bitcoin-365.com at all costs. You should also take some defensive measures to protect yourself from falling victim to their scams. You should do your research on the background,
reputation, and regulation of the broker. You should read the terms and conditions carefully and understand what you are getting into. You should start small and test the waters before investing a large amount of money with the broker. You should be cautious and vigilant before trusting the broker with your money or personal information.
