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Is Bitrade Market a licenced platform?
Tang Mugala
Venezuela
Dec 18, 2023
ANSWER No, Bitrade Market is not a licensed trading platform.Bitrade Market doesn't provide information about its regulatory status. This lack of transparency is a significant indicator of potential fraudulent practices. It appears that customers are only left with a "Contact Us" web form for communication. Without specific information about its operator, traders would be unable to contact the team to recover their funds if it ceases operations or disappears. If a broker keeps investors in the dark like that, it is likely a scam.Furthermore, the British Columbia Securities Commission (BCSC) has issued a warning against Bitrade Market, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC. This is further evidence supporting the fact that Bitrade Market doesn't comply with relevant rules.Give all these negative findings, Bitrade Market is not safe for investors. To avoid potential fraud and identity theft, traders are advised to steer clear of Bitrade Market and instead choose those fully regulated that have established reputations.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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