Mybitchain is an offshore broker that is not authorized in its region by any reputable regulatory authority.
The broker may work in a number of countries without being regulated by a reputable agency in its home country, such as FCA, CNMV, FSCA, ASIC, BAFIN, SFC, AMF, BCSB, OSC, FCMA, CYSEC, or another agency that is relevant.
Regulation cannot be the only reason to label this broker a scammer.
Numerous complaints and unfavorable Mybitchain reviews, as well as other probable scam characteristics, may further contribute to the problem.
If you are trading with this broker, your cash may not be safe.
Mybitchain is a purported internet trading platform that provides passive revenue.
Mybitchain is, however, one of the possible tricks. If you do not want to lose your investment, it is best to stay away from this broker.
Mybitchain operates as a trading platform. It is a company that operates in the crypto area.
On its website, the broker provides no information whatsoever on its staff.
The use of stock photos as staff employees on a broker’s website makes them more suspect.
Moreover, they distribute movies using paid actors posing as staff employees.
All of these factors might serve as evidence of how fraudulent and untrustworthy a broker is and how risky your assets are.
On the other side, Mybitchain is incapable of organizing their deceptions. To appear legitimate, they fabricated MSB registration information.
Reasons for Identifying the Broker
• It is possible that the broker’s website contains a number of fraudulent statements.
• The rules and regulations, bonus, and withdrawal policies are fraudulent and designed to mislead traders.
• The broker calls traders on an ongoing basis, urging them to increase their investments.
• The broker guarantees unrealistically high returns. The risk warnings might not be stated on their website, or they might be concealed.
• The broker may be located in countries or small islands where there is no suitable legislation, and creating a corporation is quite simple. Typically, these countries serve as safe havens for fraud brokers.
• This broker offers excellent profit potential, but when you attempt to withdraw funds, they impose unlawful withdrawal terms, preventing you from doing so.
complaints and negative reviews of Mybitchain
Numerous bad reviews have been written about them, and traders who have dealt with them have filed complaints.
Due to the extensive research conducted by FXfarmupdate into this broker’s negative reviews, complaints, and other red flags, this broker has been added to the list of fraud alerts.
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.
If you have been scammed
If you have lost money on Mybitchain, there is no need for an alarm. You are not the first and presumably will not be the last to do this.
Even the most careful investors can make mistakes, which should be used as a chance to teach them something.
The encouraging news is that assistance is available.
The crew at FXfarmupdate, is a specialized organization committed to assisting consumers in recovering cash lost online.
We are always available and have assisted clients from all over the world in recovering millions of dollars.
Victims of online fraud have a good chance of recovering some or all of their losses if they create a compelling chargeback plan from start to finish.
Conclusion
Fxfarmupdate will assist you in building a strong case to recover your payments as soon as possible.
Anyone thinking about trading or investing online should look into the firm’s regulatory standing, check customer reviews and testimonials, and consult a financial expert before taking any action.
The reason for this is that many fraudsters and fake corporations pose as legitimate investment and trade firms.
The purpose of this post is to provide a list of all companies that readers should avoid if they are considering making any form of investment or trading in assets.
