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Looking for a reliable broker? Think again if you’re considering TheBtcPro.
This CFDs broker, which can be contacted via their website www.thebtcpro.co, has all the hallmarks of a scam operation.
Despite its professional appearance, TheBtcPro is closely linked to other notorious scam brokers like Blantomic and HighBTCstock.
This review will highlight the key factors, services offered, customer reviews, and crucial warnings from regulatory authorities to help you understand why you should stay away from TheBtcPro.
Key Factors
Before diving into the specifics, here are some key points to consider about TheBtcPro:
- Warnings from major regulatory bodies.
- Lack of proper regulation.
- Unverified company registration claims.
- Anonymous ownership.
- Numerous customer complaints.
- Aggressive marketing tactics.
Is TheBtcPro a Legit Broker?
In short, no, TheBtcPro is not a legitimate broker.
On June 15, 2023, the UK Financial Conduct Authority (FCA) issued a warning against TheBtcPro for offering financial services without proper authorization.
The very next month, on July 23, 2023, the Spanish CNMV added TheBtcPro to its warning list for providing investment services without authorization.
These warnings alone should be enough to make you reconsider investing with this broker.
TheBtcPro claims:
“At present, however, our regulatory compliance is underway and we are hoping to obtain permissions when a decision is made by the authorities.”
However, this statement is a common tactic used by scam brokers to appear trustworthy.
Services Offered
TheBtcPro offers a range of trading assets and services, but their lack of regulation makes these offers risky.
Here’s a closer look at what they claim to provide:
Account Types
TheBtcPro offers several account types, each with different features and benefits:
| Account Type | Deposit | Features |
|---|---|---|
| Bronze | €10,000 | Market Reviews, Trading E-Book, Webinar Access, Social Trading |
| Silver | €25,000 | Market Reviews, Trading E-Book, Webinar Access, Social Trading, VOD: Advanced |
| Gold | €50,000 | Market Reviews, Trading E-Book, Webinar Access, Social Trading, VOD: Advanced, 1 Risk-Free Trade, Personal Assistant |
| Platinum | €100,000 | Market Reviews, Trading E-Book, Webinar Access, Social Trading, VOD: Advanced, 1 Risk-Free Trade, Personal Assistant, Customized Account |
| Diamond, Premium and VIP | €250,000 – €1,000,000 | Market Reviews, Trading E-Book, Webinar Access, Social Trading, VOD: Advanced, 1 Risk-Free Trade, Personal Assistant, Custom Account, Access to Trading Room, Trade Specialist, Exclusive Updates |
| Islamic Account | N/A | Market Reviews, Trading E-Book, Webinar Access, Spreads: Regular |
Trading Platform
TheBtcPro offers a web-based trading platform, but there is little information about its functionality and reliability.
User reviews suggest frequent issues, lack of intuitive design, and slow response times.
Customer Reviews
Customer reviews of TheBtcPro are overwhelmingly negative.
Common complaints include difficulties with withdrawing funds, poor customer service, and misleading trading information.
Many users feel scammed, with some reporting that their accounts were frozen or closed without explanation.
Fake Online Content
TheBtcPro reviews on TrustPilot and SiteJabber are mostly fake, posted by review seller networks to maintain a false image of a perfect reputation.
Genuine reviews, often buried under the 1-star filter, reveal a pattern of fraudulent activities and unhappy customers.
Devious Fraudulent Strategies
TheBtcPro employs several devious strategies to attract victims. They target people from various countries using boiler room agents who promise incredible returns after an initial investment.
However, these returns are fictitious, and any semblance of trading is a farce to make you believe you’re earning while your money is being stolen.
Copycat Websites
TheBtcPro isn’t just a standalone scam; it appears to be a copy of other notorious scam and blacklisted brokers such as:
These websites share similar designs, content, and fraudulent tactics, suggesting they might be operated by the same group of scammers.
Conclusion
TheBtcPro appears to be a high-risk broker with numerous red flags that potential investors should be wary of.
Their questionable regulatory status, poor customer reviews, and unreliable services make it difficult to trust them with your investments.
If you’re looking for a reputable and reliable broker, it’s advisable to explore other options.
FAQs
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Is TheBtcPro regulated?
No, TheBtcPro operates without proper regulatory oversight, which puts clients at significant risk.
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Can I withdraw my funds easily from TheBtcPro?
Many users report difficulties and delays in withdrawing funds from TheBtcPro, with some unable to access their money at all.
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What are the account types offered by TheBtcPro?
TheBtcPro offers various account types, but users often find that the benefits promised are not delivered.
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Is the TheBtcPro trading platform reliable?
No, the trading platform has frequent issues and lacks robust security measures.
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Are there any positive reviews of TheBtcPro?
Positive reviews are rare, with the majority of feedback being negative due to issues with withdrawals, customer service, and transparency.
