PolarBTC Review – Is PolarBTC legit or a scam broker?
PolarBTC is a CFD broker that specializes in crypto assets. Although advertisements for more conventional assets like forex and indices are there, the emphasis is squarely on digital assets. These brokers primarily engage in different scams because scammers can easily set up shop on the cryptocurrency market. Since the majority of such clients are unaware of the risks involved in trading digital assets or how these assets truly function, they are also particularly susceptible to fraud.
PolarBTC shows that it is a dubious business. Regarding its address and regulation, it is untrue. If the broker were up to any good, this would simply never happen. Second, the business requires that customers provide a referral code before enrolling. Read this complete PolarBTC review to know more about the TradeMax scam.
Website – https://www.polarbtc.com/
Address – 5 Churchill Pl, London E14 5HU, United Kingdom
Warned By – Not recommended by review website like Enverra Capital
Regulated – Unregulated
Regulation
This broker’s lack of regulation is its main flaw. They claim that although the company is registered and licensed, it has not been subject to regulation. The Polar BTC website makes the aforementioned assertions, which are total nonsense, to give the organization a more credible appearance.
Trading Platform
We are unable to use the PolarBTC.com web platform without an account, and we are also unable to create an account. However, unlicensed businesses and their subpar platforms are frequently not very competitive. But they nevertheless tend to influence the platform, even when they use software like the industry standard MetaTrader 5.
There would be no difference whether you traded on it for months because whatever you deposit will be stolen, and all activity on the platform will be a forgery.
Trading Conditions
The broker’s spreads and leverage are not sufficiently disclosed. But it happens far too frequently that offshore businesses charge more for the trade than their legitimate competitors. Additionally, they are probably going to provide risky and inappropriate quantities of leverage. Because these businesses only care about your investment, they have no interest in providing you with access to favorable trading circumstances.
Deposit and Withdrawal Methods
It is impossible to determine which deposit options are permitted by this company. Because there is no account option, and it is not mentioned on the website. The firm requires a minimum deposit of up to $250. These days that is not acceptable. In reality, micro-accounts cost no more than $10 and are accessible for far less.
Customer Reviews
According to the marketing information on this broker’s website, they provide attractive opportunities to expert traders. One can think that this broker is exceptional. Unfortunately, where genuine traders hang around in the outside world, their promises have not materialized.
The broker has only been around for six months, and we think that if they truly meant what they said, we could have discovered some internet reviews. Because the broker is essentially a scam, we don’t yet have those ratings because victims are unsure of where or how to file complaints.
PolarBTC Review Conclusion
Polar BTC is funding false reviews, which are highly deceptive, as unwary traders are likely to believe them. If you are a victim of the Polar BTC scam, then you are able to file a complaint against the scam broker. Fill out a complaint form on our website, and our experts will provide a free consultation regarding the fund recovery process.
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