All Reasons to avoid Bitwest Group (maingroupfx.com reviews)

Read our Bitwest Group Review to see why we do not recommend this broker for trading. Just to clear doubts, this is maingroupfx.com. reviews. If you have any questions or need advice about the withdrawal process, feel free to contact us at Articlecenterreviews@gmail.com. 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 these kinds of websites are notoriously famous for scamming schemes. So Bitwest Group is just another unregulated forex broker, which means the customers are not protected, and it is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible. In today’s forex market flooded with scam brokers, traders must tread every online financial trading company carefully. You must be particularly aware of shady brokerage firms like Bitwest Group that are anonymous, do not hold any trading credentials, and provide poor services based on deception. If you have come across the Central Plus Finance- fx broker, you will soon realize how fraudulent this company is. So, continue with our Bitwest Group Review for more information about this investment scam. On top of that, we seriously recommend you not invest in the fake brokers BCH Advance, iToroStocks, and WiseFXPro. Do not trade with these unlicensed brokers if you want to save your money! Broker status: Unregulated Broker Regulated by: Unlicensed Scam Brokerage Blacklisted as a Scam by: N/A Owned by: N/A Headquarters Country: Australia Foundation year:2022 Supported Platforms: Web Trade Minimum Deposit:2,500USD Cryptocurrencies: Yes (Bitcoin, Litecoin, Ripple) Types of Assets: Cryptocurrencies Forex Maximum Leverage: 1:100 Free Demo Account: No Accepts US clients: No 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 withdrawal 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 on 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 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 refuses 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 relationship 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. Contact us at Articlecenterreviews@gmail.com but do not let your broker know if you have read this article or 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 by 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 us at Articlecenterreviews@gmail.com and we will help you with this step as well. Is Bitwest Group a Licensed Forex Broker? Forex trading is a heavily controlled industry by financial regulatory agencies closely cooperating with governments and ensuring that every broker complies with relevant legislation. When a phony broker like Bitwest Groupdoesn’t state its headquarters or any information about the company’s registration, it is hard to determine its jurisdiction. This is done with the purpose to cover up the fact that it is an unlicensed and unregulated business. The only info about Bitwest Groupavailable on its website is a telephone number, which is an Australian phone number according to the dialing code. That brings us to the assumption that this broker might be based in Australia, which is one of the most stringent jurisdictions. If it is the case, it is impossible to be a legitimate broker without being authorized by the Australian financial authority, ASIC. Not unexpectedly, Bitwest Group is not licensed under this or any other financial market regulatory agency. Why Is Trading On a Licensed Broker’s Platform Preferable? Unlike unauthorized brokers, certified companies can be trusted with money since they adhere to a strict code of conduct – especially forex providers regulated by top-level supervisory bodies like the Australian ASIC, British FCA, and German BaFin. For example, ASIC’s eligibility conditions stipulate a broker maintain a minimum operating capital of 1M AUD and keep its and traders’ money separated (segregation of funds). Additionally, traders of licensed brokers are protected by indemnification programs run by supervisory agencies. For example, ASIC covers traders with a 100,000 AUD indemnification in the event of a broker’s bankruptcy. On top of that, legitimate companies implement a range of risk management measures to mitigate trading risks, such as offering negative balance protection (a trader can lose more than deposited), cooperating with first-rate banks, providing reliable trading platforms, and ensuring propitious trading conditions. So Bitwest Group GLOBAL ICM a Decent Broker or a Scam? Bitwest Group is an anonymous and unregulated broker running online trading scams and cheating traders from the UK, Canada, Australia, the US, and Sweden. What Trading Software Does Bitwest Group Offer? Speaking of the Bitwest Group portal, a trading platform available here, it is a web trader with limited functionality. This unscrupulous broker claims that its web trader fits the needs of both beginners and experienced traders. However, we are dubious about that since it has generic functions that can’t ensure profitable trading. As far as that is concerned, your best option is the latest trading programs – MetaTrader 4, MetaTrader 5, cTrader, and Sirix – providing advanced tools such as expert advisors, stop loss, fast execution, unlimited pending orders, copy trading, and more. Make sure you leave reviews about Bitwest Group on 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 have fallen victim please leave a review and a comment on this site in 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 by contacting us. That would be really appreciated by us and families all over the 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. Bitwest Group Review Conclusions Making the Bitwest Group 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 Bitwest Group Review has been helpful to you. If you have any questions or you need advice about the withdrawing process, feel free to contact us at Articlecenterreviews@gmail.com. If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below. Read our Bitwest Group Review to see why we do not recommend this broker for trading. Just to clear doubts, this is Central Plus Financemarkets.com reviews. If you have any questions or need advice about the withdrawal process, feel free to contact us at Articlecenterreviews@gmail.com. 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 these kinds of websites are notoriously famous for scamming schemes. So Bitwest Group is just another unregulated forex broker, which means the customers are not protected, and it is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible. In today’s forex market flooded with scam brokers, traders must tread every online financial trading company carefully. You must be particularly aware of shady brokerage firms like Bitwest Group that are anonymous, do not hold any trading credentials, and provide poor services based on deception. If you have come across the Bitwest Group broker, you will soon realize how fraudulent this company is. So, continue with our Bitwest Group Review for more information about this investment scam. On top of that, we seriously recommend you not invest in the fake brokers BCH Advance, iToroStocks, and WiseFXPro. Do not trade with these unlicensed brokers if you want to save your money! Broker status:Unregulated BrokerRegulated by:Unlicensed Scam BrokerageBlacklisted as a Scam by:N/AOwned by:N/AHeadquarters Country:AustraliaFoundation year:2022Supported Platforms:Web TraderMinimum Deposit:2,500 USDCryptocurrencies:Yes (Bitcoin, Litecoin, Ripple)Types of Assets:Cryptocurrencies, ForexMaximum Leverage:1:100Free Demo Account:NoAccepts US clients:No 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 withdrawal 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 on 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 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 refuses 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 relationship 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. Contact us at Articlecenterreviews@gmail.com. but do not let your broker know if you have read this article or 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 by 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 us at Articlecenterreviews@gmail.com and we will help you with this step as well. Is Bitwest Group a Licensed Forex Broker? Forex trading is a heavily controlled industry by financial regulatory agencies closely cooperating with governments and ensuring that every broker complies with relevant legislation. When a phony broker like Bitwest Group doesn’t state its headquarters or any information about the company’s registration, it is hard to determine its jurisdiction. This is done with the purpose to cover up the fact that it is an unlicensed and unregulated business. The only info about Bitwest Group available on its website is a telephone number, which is an Australian phone number according to the dialing code. That brings us to the assumption that this broker might be based in Australia, which is one of the most stringent jurisdictions. If it is the case, it is impossible to be a legitimate broker without being authorized by the Australian financial authority, ASIC. Not unexpectedly, Bitwest Group is not licensed under this or any other financial market regulatory agency. Why Is Trading On a Licensed Broker’s Platform Preferable? Unlike unauthorized brokers, certified companies can be trusted with money since they adhere to a strict code of conduct – especially forex providers regulated by top-level supervisory bodies like the Australian ASIC, British FCA, and German BaFin. For example, ASIC’s eligibility conditions stipulate a broker maintain a minimum operating capital of 1M AUD and keep its and traders’ money separated (segregation of funds). Additionally, traders of licensed brokers are protected by indemnification programs run by supervisory agencies. For example, ASIC covers traders with a 100,000 AUD indemnification in the event of a broker’s bankruptcy. On top of that, legitimate companies implement a range of risk management measures to mitigate trading risks, such as offering negative balance protection (a trader can lose more than deposited), cooperating with first-rate banks, providing reliable trading platforms, and ensuring propitious trading conditions. So Bitwest Group GLOBAL ICM a Decent Broker or a Scam? Bitwest Group is an anonymous and unregulated broker running online trading scams and cheating traders from the UK, Canada, Australia, the US, and Sweden. What Trading Software Does Bitwest Group Offer? Speaking of the Bitwest Group portal, a trading platform available here, it is a web trader with limited functionality. This unscrupulous broker claims that its web trader fits the needs of both beginners and experienced traders. However, we are dubious about that since it has generic functions that can’t ensure profitable trading. As far as that is concerned, your best option is the latest trading programs – MetaTrader 4, MetaTrader 5, cTrader, and Sirix – providing advanced tools such as expert advisors, stop loss, fast execution, unlimited pending orders, copy trading, and more. Make sure you leave reviews about Bitwest Group on 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 have fallen victim please leave a review and a comment on this site in 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 by contacting us. That would be really appreciated by us and families all over the 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. Bitwest Group Review Conclusions Making the Bitwest Group 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 Bitwest Group Review has been helpful to you. If you have any questions or you need advice about the withdrawing process, feel free to contact us at Articlecenterreviews@gmail.com. If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.