53BTC is a cryptocurrency trading platform that claims to offer a variety of features, including margin trading, spot trading, and derivatives trading. However, there are a number of red flags that suggest that 53BTC is a scam broker.
Company Overview
53BTC is a relatively new company, having been founded in 2022. The company’s website is poorly designed and lacks any information about its team or management. There is also no mention of 53BTC being regulated by any financial authority.
This is the homepage of their website. You cannot see any information on their website without login.
Team
The 53BTC website does not list any information about its team members. This is a red flag, as legitimate brokers are typically transparent about their team and management.
Services or Products
53BTC offers a variety of trading features, including margin trading, spot trading, and derivatives trading. However, the spreads on these products are very high, which means that traders are likely to lose money.
License and Regulations
53BTC is not regulated by any financial authority. This is a major red flag, as it means that there is no governing body to oversee the company’s activities. Unregulated brokers are more likely to engage in fraudulent practices, such as front-running and market manipulation.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same regulations as regulated brokers. This means that they can engage in fraudulent practices without fear of being punished. Second, unlicensed brokers are more likely to disappear with your money. There is no governing body to hold them accountable if they do.
Legal Warning Against 53BTC
The Financial Conduct Authority (FCA) has issued a warning against 53BTC, stating that the company is not authorized to provide financial services in the UK. This warning is a further indication that 53BTC is a scam broker.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about 53BTC online. These reviews allege that the company is a scam and that it has stolen people’s money.
Feedback About Their Trading
Some users have complained that 53BTC’s trading platform is buggy and unreliable. Others have said that the spreads are too high and that they have lost money trading with the company.
Feedback About Their Customer Service
Customer service at 53BTC is reportedly poor. Users have complained that they have been unable to get in touch with customer support when they have had problems.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by 53BTC or another unregulated broker, there are a number of things you can do. First, you should report the scam to the relevant authorities. You can also try to get your money back through a chargeback or through the Financial Ombudsman Service (FOS).
“Reviews Advice” is a website that provides information and advice to people who have been scammed by financial companies. The website offers a number of resources, including a database of scam brokers, a guide to getting your money back, and a forum where you can connect with other victims of scams.
Our Experts will provide you with a free consultation call where they will provide the best option to recover your lost funds.
Final Thought
53BTC is a scam broker that should be avoided. If you are considering trading with the company, we urge you to reconsider. There are many legitimate brokers out there that offer better services and lower risks.
We hope this article has been helpful. If you have any further questions, please feel free to contact us.
