Bitrademining is a broker website suspected of fraud. Its official website domain, bitrademining.com, was registered on March 23, 2024. The website claims to offer CFD trading services across various markets including forex, indices, precious metals, energy, commodities, and cryptocurrencies.
Company Background and Regulatory Status
According to publicly available information on bitrademining.com, Bitrademining is authorized and regulated in multiple jurisdictions.
Bitrademining (SC) Ltd. is a securities dealer registered in Seychelles under registration number 8423606-1 and regulated by the Seychelles Financial Services Authority (FSA) with license number SD025.
Bitrademining B.V. is a securities intermediary registered in Curaçao under registration number 148698(0) and regulated by the Central Bank of Curaçao and Sint Maarten (CBCS) with license number 0003LSI.
Bitrademining (VG) Ltd. is authorized by the Financial Services Commission (FSC) of the British Virgin Islands, with registration number 2032226 and investment business license number SIBA/L/20/1133.
Bitrademining ZA (PTY) Ltd. is authorized by the Financial Sector Conduct Authority (FSCA) of South Africa as a Financial Service Provider (FSP), registration number 2020/234138/07, FSP number 51024.
Additionally, the broker claims to have a registered company in Australia with ABN number 2018AD947.
Upon investigation, it was found that there is no company registered with the number 2018AD947 in the Australian company register. Furthermore, the regulatory information mentioned by Bitrademining actually belongs to the broker "Exness."
Therefore, Bitrademining (bitrademining.com) is in fact a fraudulent website with no legitimate company entity, falsely using regulatory information from other brokers.
Trading Products
Bitrademining claims to offer various financial derivatives trading services, including forex, indices, precious metals, energy, commodities, and cryptocurrencies.
- Forex: The forex market is the world's largest financial market, involving the trading of currencies from different countries. Investors profit by buying and selling currency pairs (e.g., USD/EUR, GBP/JPY). Exchange rate fluctuations are mainly influenced by economic data, central bank policies, and geopolitical events.
- Indices: Indices represent the overall performance of a basket of stocks, such as the S&P 500, Dow Jones Index, and Nasdaq Index. By trading indices, investors can bet on the performance of an entire market or sector without investing in individual stocks. Indices are often used to gauge market health and serve as investment benchmarks.
- Precious Metals: Precious metals like gold, silver, platinum, and palladium are typically seen as safe haven assets. Their value tends to rise during economic instability, making them popular tools for hedging against inflation and currency depreciation. Investors can trade precious metals in the spot or futures market.
- Energy: The energy market mainly includes the trading of commodities like oil and natural gas. The energy market is highly dependent on the global supply-demand balance, with prices influenced by geopolitical events, economic conditions, and policies from organizations like OPEC. Futures trading in oil and natural gas is significant in this market.
- Commodities: Commodities include agricultural products (e.g., wheat, corn, soybeans), industrial metals (e.g., copper, aluminum), and soft commodities (e.g., coffee, cotton). The commodity market offers opportunities for both futures and spot trading, allowing investors to hedge against price volatility or engage in speculation.
- Cryptocurrencies: Cryptocurrencies like Bitcoin and Ethereum are digital assets based on blockchain technology. Known for their high volatility, the cryptocurrency market offers investors the chance to profit from price fluctuations. The market is rapidly evolving with changes in global regulatory landscapes and technological advancements.
Account Opening Process
The account opening steps at Bitrademining are as follows:
- Visit bitrademining.com and enter the account application page by clicking "START LIVE TRADING" or the "SIGNUP" button at the top right.
- Fill in your name, email address, and set a login password in the account application form. Submit the form to successfully create an account.
- After logging in, users must complete the KYC verification process before they can start trading.
Investment Plans
Bitrademining claims to offer four different investment plans: Basic, Silver, Premium, and VIP.
Basic:
- Investment Amount: $1,000—$10,000
- Expected Return on Investment (ROI): 15.2% within 24 hours
- Option to copy junior traders
Silver:
- Investment Amount: $10,000—$50,000
- Expected ROI: 18.5% within 24 hours
- Option to copy professional traders
Premium:
- Investment Amount: $50,000—$150,000
- Expected ROI: 25.5% within 24 hours
- Option to copy expert traders
VIP:
- Investment Amount: $150,000 and above
- Expected ROI: 35.2% within 24 hours
- Option to copy expert traders
Additionally, trading cycles are divided into short-term (monthly) and long-term (annual) periods.
Trading Platform and Deposits/Withdrawals
Bitrademining claims to offer the MT4/MT5 trading platform to its clients on its website. However, no information about the broker could be found on the MT4/MT5 platforms. Moreover, the broker only supports deposits and withdrawals via cryptocurrencies.
Conclusion
Traderknows alerts investors that Bitrademining (bitrademining.com) is an illegal website with no legitimate company entity or regulation, falsely using other brokers' regulatory information.
Investors should carefully consider their choice of trading platform and prioritize those that are regulated and transparent to ensure the safety of their funds and reduce investment risks.
