Bitxtream is a platform with many claims and promises, and sadly, it doesn’t deliver. The platform claims to offer investors a chance to make sound investments. There are 30 currency pairs to choose from, with the maximum leverage set at 1:500. It also comes with over 16 platforms to choose from. These are some of the main features the platform comes with. Please find out more in our detailed BITXTREAM REVIEW.
To start us off, the platform does not have any working pages. Instead, once you click on one page, you’re redirected to their advantages page. On this page, there’s an image with a model showing your cash.
Quick money schemes see that sort of sales pitch. There’s no sane forex investment platform that would bother to offer such sales tactics. We believe the people behind this plan to operate as a pyramid scheme.
Although the platform looks legit at first glance, there are red flags. Thanks to our years of experience, we know how to spot these flags. And this is the reason why we urge you to stay away from the platform.
It would be best if you instead went for reliable and reputable forex investment platforms. These platforms offer the best investment options. You can choose to invest with Coin Staking, DeFi, and Masternoding.
For experienced traders, the platform promises personal and VIP services. However, if you are a newbie, the platform will leave you out in the open. And that does not sound like a platform you would want to invest with.
Below are some of the reasons we find the platform appalling: from being an anonymous platform to offering high leverage. In addition, the platform is flaunting rules set by regulators by offering unfair trading conditions.
Bitxtream offers four investment accounts to choose from. These accounts include Standard, Gold, VIP, and ECN. The minimum allowed deposit to start trading with the basic account is $100. Here’s a closer look at each account;
Standard
It’s the most basic account and comes with a minimum investment amount of $100. In addition, the account comes with spreads of 0.03 and commissions. Sadly, the platform does not mention the commission amounts.
Gold
For the Gold account, investors must deposit $500 and above. The platform is listed as positional trading and comes with a minimum trade volume of 0.01. Spreads for the gold account are set at 1.3.
VIP
The account is a fit for scalping with the minimum deposit set for $1,000. Spreads for this account are set at 0.1. Unfortunately, we don’t have much information on the account in terms of swap and lot size.
ECN Account
It’s the most exclusive account, and users have to make a minimum deposit of $5,000. There’s a lot size of 0.01, with the minimum trade volume set at 0.1. You can enjoy commissions, although the platform fails to mention the exact number.
All the accounts come with a leverage of 1:500. Just like poker, this is high staking which leaves memes vulnerable. In the event of a losing trade, you end up losing more. So regulators have put a cap to leverage at 1:100.
There are 55 global trading pairs for those dealing with forex trading. The platform offers CFDs on stocks of over 600 companies. CFDs on metals include gold, palladium, and silver. You can also trade with commodities such as cocoa, sugar, and wheat.
There are several funding methods available on the platform. The platform ensures anyone can fund the platform within any location. These funding methods include Bank transfer, Bitcoin, Neteller, Perfect Money, and more.
Withdrawing funds with the platform remains the biggest hurdle facing investors. You won’t withdraw funds on time. The platform also fails to inform users on how long the platform takes to process withdrawals.
When it comes to compliance, Bitxtream is not licensed or registered. And this is the reason why we have to expose the platform. So you are venturing into unknown territories. There’s no telling when the platform will decide to close shop.
The platform fails to produce any documents to validate their registration claim. We also don’t see any information on their company registration. And these are the reasons why we doubt the platform’s credibility.
When investing, it’s wise to go for platforms that pass required milestones. In addition, go for platforms that well-known bodies have regulated. These institutions include ASIC, BaFIN, CySEC, FCA, and SEC.
Bitxtream remains an anonymous platform with no information on who runs the show. We don’t even have their place or residency. And this makes it easy for them to evade registration. So you have to know and understand the risks that come with anonymous platforms.
One way to check whether a platform is serious is its support structure. For example, with Bixt Xtream, you can only send an email. There’s no live chat or phone number where you can interact with support.
And this means the platform leaves you on your own, most of the time. So, for example, when you send an email, they might take ages to respond. So the platform ought to give ways to contact support more directly.
One of the positive aspects of the platform is having a demo account. You can test how the platform behaves with their demo account. We recommend you first try out demo accounts before committing funds to a platform.
What we don’t understand is why they offer multiple trading forums that are unknown. You would expect the platform to offer MT4, MT5, and SIRIX trading terminals. It’s not the case as you get a bunch of untested platforms.
We believe software owners of these platforms pay for the platform. When trading, we recommend using MT4, MT5, and SIRIX trading platforms. These terminals offer advanced tools and an intuitive user interface.
For experienced traders, the platform claims to offer personalized services. Unfortunately, there’s no mention of what these services are. We believe the platform offers an account that manages to check and track your progress.
The platform also offers users a chance to use these managers to trade on their behalf. However, we have an issue with it as there’s no way of knowing who these managers are. The platform does not give names or mention their qualifications.
One thing’s for sure, the safety of funds is out of the question with an unregulated platform. Bitxtream does not deposit funds with regulators. It means the platform does not meet the minimum capital requirement to start such services.
The repercussions have a platform that offers no safety net for investors. In the event of bankruptcy, the platform will likely lose all your funds. Expect no compensation as they don’t follow the rules.
Here are the main reasons why we don’t recommend the platform
Now you know the risks that come with investing with Bitxtream.
For those looking for proven ways of investing, try out these options. Coin staking, DeFi, and Masternoding are the best ways to invest.
If you have any queries, drop a comment or email us; we would be happy to engage.
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