BtcMarketCap is not a licensed or regulated broker even though it states offers that look good to be true.
BtcMarketCap claims to be a reliable forex broker without presenting any information about its regulation. Lacking such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag.
BtcMarketCap also claims to have offices in Australia, Canada, and Germany. Then we searched several regulatory authorities in the above countries, including:
1) The Australian Securities & Investments Commission(ASIC);
2) The Investment Industry Regulatory Organization of Canada (IIROC);
3) The Germany Federal Financial Supervisory Authority (BaFin).
However, we did not find any results that matched BtcMarketCap in the mentioned regulators.
Moreover, the British Columbia Securities Commission (BCSC) issued a warning that BtcMarketCap is not registered to trade in, or advise on, securities or derivatives in BC. And the Ontario Securities Commission (OSC) issued a warning that BtcMarketCap is not registered in Ontario to engage in the business of trading in securities. You can check full warnings from BCSC and OSC.
The truth is, BtcMarketCap is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like BtcMarketCap and trade with licensed brokers.
评论