Today we are reviewing a company that has been in the market for less than six months. This forex broker claims to be the best gateway to a variety of financial markets. The company promises to provide the latest trading software and transparent trading conditions.
We can assure you that the transparency level in this company is nothing to be proud of. This is one of the shadiest companies in the market. These people are not interested in servicing your investment needs; they are in it for the money.
Furthermore, this is still a new company. It has no merit to call itself one of the best brokers in the market. It takes longer than a year to gain the trust of thousands of investors. This company is still making the mistakes that new companies make. You are better off waiting it out before you invest.
In the meantime, there are many legitimate companies with years of experience in the market. Such companies will offer you professional services without compromise. Stick with us as we review Bitcoinwelt.co.
Bitcoin Welt Review
On its website, BitcoinWelt claims to have been in the market since 2010. During this time, they continue to change their trading standards to meet client needs. While this may sound impressive, it is a colossal lie that anyone can see through. A simple lookup on Whois.com reveals that this company’s registration was on the 17th of December 2020.
Evidently, this company has not been around for as long as it claims. Otherwise, the founders have to tell us where they have been all these years. Unfortunately, this is not the only lie that this company tells.
BitcoinWelt promises clients one of the best trading platforms in the market. However, we find a web trader that dwarfs in comparison to some of the best platforms in the market. You should look to invest in companies providing MetaTrader 4 or MetaTrader 5 platforms. Such platforms are robust and very powerful.
This shows us that we are not dealing with professionals who know what they are doing. These people are not committed to providing the best services to their clients. Bitcoin Welt is not worth your money.
BitcoinWelt Customer Support
Customer support is very crucial in a company providing financial services to the public. While this company calls itself professional, it lacks to deliver any kind of customer support. BitcoinWelt barely tries to provide a phone number to reach them. The number on the website is 00010001, which is clearly fake.
The other channels to reach this company are not reliable. You can email customer care at email@example.com. You can also fill out a contact form on the website. Even with this, there is no guarantee that the team will respond to any of your queries.
No professional broker lacks reliable customer support. Customer support is an essential service. You shouldn’t have to beg for it. Ignore this company at all costs.
BitcoinWelt Investment Plans
Bitcoin Welt has three main account types to choose from. These include the Starter, Premium, and Business accounts. The smallest account is the Starter account. It accepts a minimum investment of $250. On the other hand, the largest account is the Business account. It accepts a minimum investment of $25,000.
Additionally, the company lists the trading conditions that clients should expect. They promise leverages of between 1:100 to 1:200. This leverage level is unfavorable for traders. It increases the risk that traders face in the market. This is why the UK caps leverages at 1:30 for retail traders.
Further, the company promises spreads from 0.0 pips to 1.5 pips. However, when you access the trading area, things are different. Spreads are all the way up to 3.0 pips. That is double what the company is promising. The company cannot keep any of its promises. These individuals are only in the market for people’s funds.
Bitcinwelt.co has a section for legal documents. We expected to find its regulatory status here. However, there was nothing to that effect. The only thing we gained from this section is knowing the laws by which BitcoinWelt abides. Nonetheless, this says nothing about its regulation status. Moreover, it goes to show how shady this company is.
But that is not all. We do have some information regarding the legality of this company. The FMA from Austria already issued a warning against using this broker. This is enough evidence that we are not dealing with a legal company here.
There is no reason you should be investing in an unregulated company. They are illegal, and the law will eventually shut them down. At this point, you will lose your funds and will have no one to turn to. Moreover, there is already a warning against using this company. Save yourself some trouble and avoid this company.
The People Behind BitcoinWelt
We looked all over Bitcoinwelt.co to find the people behind the operations. We were not surprised to realize that the founders were completely anonymous. There are no names nor faces to associate with this service. This is a common characteristic of scammers. They run their companies from the shadows for a reason. They do not want anyone to associate them with the terrible scam.
There are too many risks involved in investing in mysterious people on the Internet. They can easily disappear with your money. Moreover, you may be sending your money to criminals for all you know.
Further, we assure you that no professional broker sees the need to hide the identities of the founders. Only scammers want to hide their faces from the public. Investing in BitcoinWelt will be like throwing your money in a dumpster fire.
Are Your Funds Safe With Bitcoin Welt?
We cannot stress this enough; your money is not safe with these people. They do not have the right makings of a legal organization. No unregulated broker can assure you of your funds’ safety. The company promises to keep client funds safe. But promises are nothing without action. They are just trying to gain the trust of novice traders.
Moreover, this company claims to be a cryptocurrency broker. For all we can tell, they are the custodians of the cryptocurrency assets. Nonetheless, the company does not tell us the wallet it uses to hold these crypto assets. Evidently, these are not professionals who know what they are doing.
We suspect that this company does not offer cryptocurrency brokerage. They are simply attaching their name to the crypto name for hype reasons.
There is only one conclusion to this. BitcoinWelt is an unregulated company with no merits. They cannot claim to be one of the best forex brokers in the market. The FMA of Austria already issued a warning against this company. Many people have already lost money to such scammers. Do not become one of them.
Moreover, there is no transparency in this company. The founders are hiding their names and faces from the public. That is on top of offering some of the worst trading conditions in the market. Do yourself a favor and avoid this company like the plague.
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