Introduction
M-Bitrade gives the perception of being an investment company with a focus on trading cryptocurrency. While the website looks professional, more transparency regarding their online platform shows red flag problems. The lack of regulation, the other regulatory warnings, and user experiences point to M-Bitrade being a high-risk platform with elements of a scam.
M-Bitrade Overview
- Company Name: M-Bitrade
- Website: https://m-bitrade.com/
- Address: 2 Sawley Road, Manchester, England, M40 8BB
- Regulation Status: Not Regulated
- Warned By: Financial Conduct Authority(UK)
Lack of Regulation and Licensing:
The lack of regulation surrounding M-Bitrade is one of the more serious red flags. M-Bitrade does not have the same licensing as legitimate brokers such as the FCA (UK), ASIC (Australia), or CySEC (Cyprus). This aspect of M-Bitrade means the funds of investors may not be protected, and such funds or investments are not protected by law.
Regulatory Warnings
M-Bitrade has already raised major alarm bells with regulators.
- FCA (UK): issued a public warning that M-Bitrade is offering financial services without permission.
- CNMV (Spain): issued a statement that M-Bitrade is illegally carrying on investment activities in their jurisdiction.
When regulatory agencies issue warnings, it means that the broker is operating outside of the rules, and there is a risk of the investment being fraudulent and losing investors’ money.
Hidden Ownership and Transparency
Another problem surrounding M-Bitrade is the unidentified operators. The domain name owner has used a paid privacy service to disguise their identity in the WHOIS domain records. There are no details about members of the management team, physical address, or official company registration. Real financial platforms display ownership information to add credibility to their operations; typical scams hide identity to avoid accountability.
Negative User Experiences
A number of the investors, referring to their experience with M-Bitrade, have reported some disturbing patterns:
- Withdrawal Delays: Funds were inaccessible for months, and we received repeated rationales for non-availability.
- Lack of Customer Service: Users report having a customer support service that was not only unresponsive but also evasive,
- Undue Pressure: Traders said they were pressured into making more deposits under the pretenses that they would receive returns.
These characteristics are all too familiar patterns for fraudulent platforms that are simply looking to exploit unsuspecting investors.
Shady Hosting Environment
M-Bitrade’s servers are hosted under low-rated and suspicious domains; the registrar has a history of registered scam websites, not a good sign.
Conclusion
M-Bitrade raises several flags: lack of regulation, official warnings, unknown operators, negative user reviews, and suspicious hosting. Collectively, these reasons we would strongly recommend that M-Bitrade is not a safe investment choice. Instead of depositing money in an unregulated exchange, we suggest traders find a regulated broker that holds a high level of transparency, security, and accountability.
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