BTCHOME Review (2023)

Is BTCHOME a scam or a legit broker?

BTCHOME is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade BTCHOME. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. 

BTCHOME, BTCHM or BTCHOME Minning/ BTCHOME Miners is a financial services company authorized and regulated by the IFSC, Belize that offers STP Forex services (Also see STP Account Forex) and trading facilities to retail, institutional and professional clients globally. The broker claims its powerful level cryptocurrency mining strategies, as well as acceptance of forex scalping systems that allows providing unrestricted trading and mining environment to the traders.

Belize as a gorgeous tourist destination, while also is a tax haven with a zero tax structure that established its own regulation for financial investment and Forex firms licensing due to high demand and necessity of regulation. Ever since Belize became a known offshore zone and Forex hub, the destination attracted thousands of brokerages seeking an opportunity to be a legitimate firm, yet to skip complicated and costly established procedures. We have a detailed article explaining the risk of trading with brokers from Belize.

In addition, the BTCHOME broker mentions that “All deposits are 100% guaranteed without limit by the Australian and the United States Securities and Investments Commission with its own Capital and Real partners Across the Globe”. However, first of all, it is not clear what is this organization or commission about, as the fact is that only the particular authorities oversee the brokerages and watch on the implemented security measures. These authorities are ASIC in Australia and CFTC in the US respectively, yet what is the meaning of broker’s “100% guarantee deposit” remains questionable. Actually, the fact that the BTCHOME broker is an offshore entity, with no implemented protection extends and no sharp requirement, for example, to segregate clients funds from the company ones, as well to apply safety scales should put an alert to any potential trader.

Conclusion

As we always say, the offshore firms should be avoided at any cost (Check the fake forex brokers list here), as it is at the highest risk to fall under scam or to be misled by unprofessional or even fraud offering. Therefore, BTCHOME “attractive” offering may be just a sweet promise of something you never get. Moreover, as the BTCHM does not hold a trusted license from the reputable authority and not permitted to operate in European or their markets, the BTCHM received its warning from an EU regulator.

We advise all investors and traders to avoid BTCHOME and other brokers from Belize. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australiaand reliable brokers such as FP Markets and XM.com.

You can also share your trading experience with BTCHOME by commenting on this review.

BTCHOME website is no longer active.