BtcpgmLondon Key Facts
🔴 BtcpgmLondon offers impossibly profitable investment opportunities – a clear sign of a scam!
🔴 BtcpgmLondon fakes crucial contact information – beware!
🔴 BtcpgmLondon lack the appropriate license for the provision of its services – a huge red flag!
🔴 BtcpgmLondon's domain has been registered extremely recently – another off-putting detail!
BtcpgmLondon products and services
BtcpgmLondon is a shady investment company – nothing new here, as such scams have existed since the dawn of the Internet. What sets BtcpgmLondon apart is how audacious its claims are – it states that it can bring upwards of 20% hourly income to its investors – a clear impossibility.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
BtcpgmLondon company and regulation
BtcpgmLondon claims to be registered in the UK and even provides us with a certificate of incorporation from the UK Companies House. However, the House is not the regulatory body that is responsible for issuing licenses to such companies in Britain – that would be the FCA, which has no entry on BtcpgmLondon.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
BtcpgmLondon address and contacts
BtcpgmLondon provides us with the following address – 5 Brecon Salisbury Avenue Westcliff-On-Sea England SS0 7BD. However, that address can quite easily be faked, and without a license from the FCA we have no choice but to believe that to be the case.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
BtcpgmLondon website info
BtcpgmLondon operates from a domain that was registered just recently – in July last year. This is quite off putting as such shot-lived domains are usually a sign of a scam.
What's more, the IP address it is hosted on is from the States – 188.8.131.52, and does not host other domains.
BtcpgmLondon is quite unpopular – SimilarWeb cannot get analytics for the website due to its extremely low traffic.
Finally, the owners of the website have decided to remain anonymous, shielding themselves from WhoIs lookups. This practice is commonplace, but as an investment company BtcpgmLondon should really strive to be more transparent.
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.