Bitfx Markets Review

Read our Bitfx Markets review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a bitfxmarkets.com review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So Bitfx Markets is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.

How does it work?

Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.

Make sure you leave reviews about Bitfx Markets in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.

Bitfx Markets Review Conclusions

Making the Bitfx Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Bitfx Markets review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

etoro

2 COMMENTS

  1. Here’s the skinny on these guys. I spend $210 to learn this.

    You will be contacted by a Facebook profile with a pretty face.

    She will sell you the idea of investing in bitcoin trading, saying it is lucrative, the hottest thing now, etc. Maybe use some fake news articles. Depending on how easy a pushover you are. And he/she will put you on to a WhatsApp number. Number is USA (+1 prefix) and with a typical white upper middle class suburban family man name. Docherty Barnes. Or Dave Emplit or something. But it’s WhatsApp so he could be anywhere. Right?

    He will start you off by explaining how the trade system works. It is a proven system. Many people are benefitting, etc.

    The promise is a 10x return on any investment within a week” time you make with a minimum of $200.

    Example:

    Invest $200 to get $2000 in 7 days time

    Invest $300 to get $2000 in 7 days time

    Invest $500 to get $5000 in 7 days time

    Invest $1000 to get $10000 in 7 days time

    Invest $5000 to get $50000 in 7 days time

    They actually spell it out to you like this on WhatsApp.

    Then, they guide you to signing up to Bitcoin.com wallet

    and their website.

    And then you will invest starting with $210 ($10 for transfer fees, he said)

    And they do a verification where you give your address and your identity doc. Beware identity theft. But what are they gonna do with an NZ driver’s license! LOL BEWARE DO NOT GIVE YOUR PASSPORT. Believe that they will squeeze every cent out of everything they get from you.

    Anyway, when he said his name is Docherty Barnes, from USA, but called me “sir”, I know something was off. But I wanted to believe. What do I lose? $200? Fk it. But if this is real then wow right?

    But then the best part. Their website dashboard, with the graph and all, is actually a really well designed fake. The whole thing is like a movie. With the investment, profit, bonus and total balance showing up. And it refreshes every time. It keeps increasing automatically. There is no actual trading happening. It’s just the site. It’s playing out like this. And wow, you’re like, how the hell! You see the ticker of currencies on top. You see the graph. There’s some buttons and toggles here and there. And your profit and balance keeps increasing every time to login. You’re up to $3500 or something ridiculous. From a $210 investment! Are you kidding?

    The believer in you thinks, wow this can help so many people! I can solve so many problems! Wow, these guys must have a killer trading system. How the hell are they doing it! All that.

    And then they hit you.

    The account locks up and you get a message stating that you got too much returns for the plan that you are in. $200 is the mud plan or whatever. And if you want to continue, you need to upgrade to the silver or gold. Silver costs $500 to upgrade. Gold costs $600 to upgrade. Everything will be on gold till you upgrade and you have 24 hours to pay to avoid the account being deactivated (meaning you lose the $3500? nah! That was never yours. That was just a number on the website, not actual earnings! Kapish? So you lose the $210. Fk it!

    I said, I will withdraw first, then I will reinvest. The WhatsApp guy, Docherty Barnes, whom I shall call “Doba from Uganda/Nigeria” (call it a wild guess), said that’s not possible. Okay atleast do bronze pack. I didn’t even bother asking what that cost. Cos’ this goose was cooked.

    And another layer of interesting scamming, which I thought is the kicker. For about 2-3 days hours after the account locked up and I am arguing with DoBa, I search for “bitcoin trading” or “how do I sell my bitcoin” in Google, I see a couple of fake news ads. About a locally well known millionaire or billionaire who is making a killing in bitcoin using bitcoin trading. They are probably running these ads for a few hours, before Google identifies and suspends their account. But in that time, if they can convince you that this might be real still, then that’s one way of getting believers back.

    But nah. This is a movie. A thriller. But I saw the ending and I got bored.

    There’s my $210’s worth.

    Let’s hope the remaining crypto I bought and still lying in my wallet goes from $50 to $50,000 in a few years. Until then, I am sticking to the scenic route, get what I mean? Slow and steady wins the race.

    Cheers all! Hope this helps!

    Love and light!

    Sam

  2. I saw a random post of logical question on social media. Then, when I sent a personal message to them. She said that I can withdraw my investment less than 30 minutes only. Then she directed me to another person which she called “Senior Accountant”. I never realize that it was the end of my beautiful holiday. They told me to balanced up so I can withdraw my money. Then my fiance doubtedly gave the money that he had worked so hard for many months just for the holiday vacation I wanted. When I gave the balance they need. They told me to break my s card which I was using because I can’t withdraw the money until I do so. But no money entered my Gcash and I can’t open my account anymore. They already changed my password and now I can’t open it anymore without my sim card. I hope this message will help those people who are planning to invest in these kind of brokers.

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