Beware of Your Money! The FINMA Issued a Warning Against Btec Global

As forex trading gets more popular among traders, many unlicensed brokers are trying to attract investors by falsely claiming their superior order execution& advanced trading platform as their cheating ways. When you believe their fantastic attracting information without any check by yourself, you would easily be marketed the idea of 'easy money' and invest much more money to earn greater returns. Finally, you would lose your money and know the broker you are dealing with is actually a scam.

Recently, BrokersView learned that the forex broker Btec Global has been one of the mentioned fraud brokers.

Presenting False Information

The firm showed on its "Latest News" that its latest news can be dated on 15 March 2019. That means the company must be established before or not late than 2019. However, when we checked its domain, the result shows the firm was newly created in 2021. How could this happen? Is it reasonable for a company's news published before the existence of the company itself? The answer is definitely "No". Besides, when click on the "Latest News", you get no link that transfers to the news. That means the firm must use false and misleading information. Therefore, there is the highest possible level of caution for you when dealing with Btec Global.

The Swiss FINMA Issued a Warning Against Btec Global

Btec Global portrays itself as a legal business providing investors with forex services. But actually it is not entitled to operate on any market because it runs without a license.

Viewing its “Contact us” information, we found the firm shows it has agency office in London, UK and is registered in Lausanne, Switzerland. As per the United Kingdom law, any company based in the UK that wants to operate on the financial market needs FCA regulation. As the fraud claims to be located in UK, it must operate with FCA license. However, it has no FCA license. The fact is that the entity is avoiding this rule, because nowhere in the FCA register, we were able to find Btec Global. That means investors' funds in this broker is unsafe and cannot be protected by any laws.

As for its claimed registration in Switzerland, we found it is telling a lie. As a trader, you have to know that a number of financial services provided by Swiss forex broker require FINMA authorisation. In fact, Btec Global gets no license from FINMA. Instead, FINMA maintained and published a warning against the entity that the fraud is carrying out unauthorised services and are not supervised by FINMA. Therefore, it is a scam broker.

Although license regulation on forex brokers are becoming increasingly tightened worldwide, while dealing with a broker, it is essential for traders to verify the broker's authenticity and regulation status. BrokersView strongly recommends investors only to trade with regulated forex brokers.

We welcome you to send your trading stories to service@brokersview.com if you unfortunately had a bad experience with an unlicensed broker.