Reason to avoid: Offshore License
Listed Date: January 1, 2019
Top 3 Regulated Forex Brokers
Beware BTCHOME is an Offshore-Licensed Broker. It is NOT SAFE to trade.
BTCHOME. BTCHM. BTCHOME Minning
Registration Address/ License:
Belize. Offshore License, No Regulation.
BTCHOME, BTCHM or BTCHOME Minning/ BTCHOME Miners is a financial services company authorized and regulated by the IFSC, Belize that offers STP Forex services 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.
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.
As we always say, the offshore firms should be avoided at any cost, as it is at 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.