By remi, from France, January 17, 2024 at 04:30 PM

Hi I have been scamed by this site 80k euros, they used fake id and fake account on instagram

Answer: Hi remi,

Bitboatratings is a broker registered in St. Vincent & the Grenadines. It is generally not recommended to trade with brokers registered in St. Vincent & the Grenadines due to concerns about regulatory oversight and standards in the financial industry. Choosing brokers from jurisdictions with robust regulatory frameworks can help enhance investor protection and reduce potential risks associated with trading. You can learn more in our article Why to Avoid St. Vincent & the Grenadines Brokers.

  • Generally, offshore brokers are not reliable, as there is a high risk they can turn out to be financial scams. One of the main complaints regarding offshore or unregulated brokers is the lack of an appropriate withdrawal process.
  • Before trusting your money to a broker, it is essential to pay attention to the existence of a license from a top-tier financial agency, feedback from fellow traders, the withdrawal process, trading conditions the broker offers, customer support, and the good standing in the market.
  • Moreover, while there are numerous authentic and reliable financial accounts on social media platforms, such as Instagram, it’s essential to be aware of the existence of deceptive profiles. These fraudulent accounts aim to mislead traders, enticing them into potentially risky trading and investment activities.

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