BT Invest – Broker Review

BT Invest

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BT Invest

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Caution Investors BT Invest – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)

Overview:

If you are looking for a reliable and trustworthy broker to invest your money, you might have come across BT Invest, a company that claims to offer online trading services on various assets. However, before you sign up with them, you should be aware that they are not authorized to operate in Austria, and they have been warned by the Financial Market Authority (FMA) for engaging in fraudulent or manipulative practices. In this blog post, we will review BT Invest and explain why you should avoid them at all costs.

Regulation and Compliance:

One of the most important factors to consider when choosing a broker is whether they are regulated by a reputable authority that ensures their compliance with the laws and protects the interests of the investors. BT Invest is not regulated by any authority, and they operate from an offshore location in the Marshall Islands, which is known for being a haven for scammers and money launderers. Moreover, they have been issued a warning by the FMA on 10 Oct 2023, which states that they are not authorized to carry out banking transactions in Austria that require a license, such as trading on their own account or on behalf of others. The FMA also advises that there is a risk of confusion with another financial services provider. You can find the link to the official warning here: https://www.fma.gv.at/en/bt-invest/

Customer Reviews:

Another way to assess the credibility of a broker is to look at the customer reviews and feedback from other traders who have used their services. Unfortunately, BT Invest does not have any positive reviews or testimonials on their website or on any other platform. On the contrary, there are many complaints and reports of people who have lost their money or had trouble withdrawing their funds from BT Invest. Some of the common issues that customers face with BT Invest are:

– High-pressure sales tactics and false promises of high returns

– Hidden fees and charges that are not disclosed upfront

– Manipulation of prices and spreads to make the trades lose

– Difficulty in contacting customer support or getting any response

– Refusal to process withdrawal requests or impose unreasonable conditions

– Threats and harassment if customers try to complain or expose them

Products and Services:

BT Invest claims to offer trading services on various assets, such as forex, stocks, commodities, indices, and cryptocurrencies. However, they do not provide any information about their trading platform, their execution speed, their leverage, their spreads, or their commissions. They also do not offer any educational resources, market analysis, or trading tools to help their customers improve their skills and knowledge. Furthermore, they do not have any security measures or safeguards to protect their customers’ data and funds from hackers or cyberattacks.

Location:

BT Invest claims to have its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands. However, this address is nothing but a virtual office that is used by many other shady companies and scammers. There is no evidence that BT Invest has any physical presence or operations in the Marshall Islands or anywhere else in the world. They also do not provide any phone number or fax number that customers can use to contact them. The only way to reach them is through an email address ([email protected]) that is often unresponsive or unhelpful.

Customer Service:

As mentioned above, BT Invest does not have a reliable or professional customer service team that can assist their customers with any issues or queries. Many customers have reported that they have been ignored, lied to, or rudely treated by BT Invest’s representatives. Some customers have even been blocked or banned from accessing their accounts after requesting a withdrawal or filing a complaint. BT Invest does not have any dispute resolution mechanism or any affiliation with any independent body that can mediate or arbitrate between them and their customers.

Conclusion:

Based on our review of BT Invest, we can conclude that they are a scam broker that should be avoided by all means. They are not regulated by any authority, they have been warned by the FMA for engaging in fraudulent or manipulative practices, they do not have any positive customer reviews or feedback, they do not provide any information about their products and services, they operate from an offshore location that is notorious for being a scam hub, they do not have any customer service or support system, and they do not respect the rights and interests of their customers. If you have already invested your money with BT Invest, we advise you to stop trading with them immediately and try to withdraw your funds as soon as possible. You should also report them to the relevant authorities and seek legal advice if necessary.