FuturBTC Review – 5 things you should know about futurbtc.com

Beware! FuturBTC is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

FuturBTC is a shady broker pretending to be a legitimate company with a license, but in reality, it’s just another scam that is a little bit more sophisticated than usual. In fact, the broker has a license, but a fake one that is issued by a fake financial authority. You should avoid FuturBTC, and in the following review, we’ll show you why.

FuturBTC Regulation and safety of funds

The screenshot above shows the truth about FuturBTC – it is a malicious deceitful broker lying to the public to convince people the trading service is legit. There is no such thing as a licensed broker waiting for regulation; that’s complete nonsense. However, the statement they make raises two questions – who issues the license, and which is the authorised company?

As for the company, there was nothing to be found, as FuturBTC provides absolutely no corporate information, with the exception of a British address. This is a major red flag because the lack of transparency is more than evident. Still, the most significant red flag is the license they show, as the so-called document is provided by a fake regulator – Crypto Conduct Authority. CCA, as they call themselves is a sham regulator, and essentially a fraudulent website created by scammers to falsely legitimise scam brokers. FuturBTC is a fraud. Avoid it and find real brokers instead.

Choosing your broker may very well depend on where you are located. For British traders, it’s always best to go for a broker licensed by the Financial Conduct Authority (FCA). In the EU, the majority of companies are regulated by CySEC in Cyprus; for Australians, you’d better look for ASIC brokers; in the US, it’s best to stick to CFTC/NFA brokers. And if you live somewhere else, where, for example, the local Forex regulations are not mandatory, it’s still recommended to trade with FX providers regulated by respectable authorities. They provide segregated accounts, negative balance protection and, depending on the country, deposit insurance funds may be available. For example, clients of CySEC brokers can claim up to €20 000, while in the UK, the coverage is up to £85 000 per person.

Here, you can see a snapshot of CCA and the fake certificate they “issued”:

FuturBTC Trading software

FuturBTC offers a web-based platform that we couldn’t eventually access as a referral code was mandatory to register, and we didn’t have one. In any case, however, Webtraders offered by shady brokers like FuturBTC are not worth it as they offer no advantages over MT4 and MT5. Not to mention that FuturBTC is apparently a scam you should avoid no matter the platform.

Speaking of MetaTrader 4 and MetaTrader 5, both platforms are considered the best options for retail Forex. MT5 is the newest and is considered the better version, but even if you trade with MT4, you’ll still have access to automated trading, custom indicators and plenty of analytical tools.

FuturBTC Trading instruments

FuturBTC offers certain types of asset classes, but with no platform to play with, we cannot confirm what the actual trading pairs are. Whatever the instruments, we guarantee that truly licensed and adequately regulated brokers will offer a significantly greater amount of options. Hence, wasting considering questionable entities like FuturBTC is a waste of time anyway.

FuturBTC Spreads and cost of trading

The spreads and trading costs respectively remained unknown as there was no platform to test. The broker doesn’t specify anything either, which is yet another scam sign – trustworthy brokers provide all the information about the trading service offered. In this particular case, however, the cost of trading will be enormous because you’ll get scammed if you deposit with FuturBTC.

FuturBTC Maximum leverage

The reported maximum leverage is 200:1, but we cannot verify the ratio. 200:1 is risky and also prohibited in many countries, including the EU, US, UK and Australia. If you are a risk-tolerant trader, you may try some licensed brokers and see if it’s possible to get higher leverage as a professional trader or in some other way. But trying 200:1 with FuturBTC should certainly be out of your agenda.

FuturBTC Deposit and withdrawal methods

FuturBTC claims to accept a wide variety of funding methods, but with no chance to test the deposit system, we cannot confirm or exclude any. That said, we’d like to remind you that FuturBTC is a highly suspected scam, so depositing any money via any method would be a huge mistake. Also, keep in mind that of all methods, cryptocurrencies are the riskiest one, as it’s practically impossible to claim your money back once a BTC deposit passes through. Beware!

FuturBTC Minimum deposit

The deposit requirement is laughable – €10 000 is the minimum, according to the Account Types page. On other pages, however, FuturBTC states that it’s possible to fund your account with €250, not too much, but still considerably more if compared to other brokers’ requirements.

FuturBTC Withdrawal requirements

FuturBTC fails to provide any information about withdrawals, but knowing the broker’s shady nature, we doubt that any withdrawal requests would be fulfilled. FX creatures like FuturBTC may come up with all sorts of excuses to delay or downright reject withdrawals. They may further introduce additional trading volumes to execute, withdrawal requirements, or unfair fees to discourage people. Above all, the ultimate scam sign would be if FuturBTC asks for additional deposits to let you withdraw your money. Scammers always do it.