Read our Btcmarketcap review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a btcmarketcap.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 Btcmarketcap 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 Btcmarketcap 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Btcmarketcap Review Conclusions
Making the Btcmarketcap 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 Btcmarketcap 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] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I invested 9000$ and I asked for withdrawal of the money earned on bitcoins/US. All that money was sent throw wire…
First, after requesting a withdrawal, a lady call telling me I needed to pay tax on the total amount earned and they would give all my money back.
I wrote to btcmarketcap customer service and they told me to confirm my account by sending them all the following documents.
Colour Copy of Passport / National ID Card / Driving License (front and back)
Colour copy of a Bank Statement / Utility Bill issued in the last three months, showing your full name, residential address, and issue date or Selfie holding your ID;
I did not send them because it woke me up…(finally)
Please help
Btcmarketcap.com
I invested over 30k, when I wanted to make a withdrawal. My trader told me that wasn’t going to happen. He kept pushing to invest more and more, when I told him I wasn’t going to invest a penny more until I made a withdrawal, he said he was going to close the account. Then he said to get back my money I would have to send more money to cover taxes.
This company are scammers. DO NOT DO ANY BUSINESS WITH THEM. I have began to accept that I wont get my money back, but if I can help one person avoid this devastating experience, it will help me heal and move forward.
26/01/22.BTCMarketcap are a bunch of thieves. They cleaned out my bank accounts in front of my eyes. They were introduced by MyTrading College!!!!!!! DO NOT EVER GIVE THEM ANY MONEY.
I too have had an interesting experience with BTC marketcap.com . I am still waiting forgthe withdrawal process that was supposedly escalated in order to get my withdrawal expediated . I am still wait. I issued the request on the 25 th of January.
I’ll give them one week more if I don’t see any money by then I’ll contact someone for support and the authorities on their jurisdiction and write a whole bunch of bad reviews.
Hi,
Thanks for this very useful information.
I just made a very small investment of <$400, knowing it was a risk I was taking.
Your review is extremely useful. If I get my money back, fine and good. Otherwise, no further investment will be made.
Thanks guys!!!
Hi there this website is a scam I have invested 9000 into trading and didn’t get anything because they are just asking to invest more and when I asked for my money back they are not responding.
Please do not make same mistakes as I did.
I make a small investment with them of $250.00back in Fed. 2022 I hear from that I had over 3000$ in my account with them and they had to sent me at least 2000$ but I had to have 2000$ in my bank account to get it so I ask him why would I need that amount of money in.my bank account to get my money sent to me it was to show that my account was active I told them that was the only account I use so it was active and I don’t have that kind off money in my account at all and if I did it would go on.my bills. The guy hung up and I hadn’t hear from him sent.
I made a small investment. Was phoned constantly, something didn’t sit right with me so I requested withdrawing a large portion of what I had deposited by telling the Broker that I wasn’t prepared to continue until I was clear and understood how I could withdraw my money if required, I told him I wasn’t going to deposit any more funds until I knew that I could withdraw it. The withdrawal process worked and I received the majority of my money back but shortly afterwards he advised me to invest in a particular share which resulted in the balance of what was in the account being lost. I told him I was not going to deal with them anymore and refused to communicate with them after that. I found it strange that only certain parts of the trading platform worked when you weren’t in contact with them, for example, when I was talking to him and he was explaining the withdrawal process, all the withdrawal functions on the platform worked, however, when I tried to access the withdrawal function when he was not on the line, you couldn’t access it. It felt like I was working on a “training” trading platform where it could be manipulated to suit. I also noticed that when the Broker was on the line, the shares that he had recommended seemed to miraculously go up. I would watch the trading platform between phone calls and the share that he had recommended I invest in would not move or constantly be in the negative and as soon as he was in contact with me it would go up, strange I know but it happened every time.