Polarbtc Review: Learn Why This Broker Is a Bad Choice

If you’ve stumbled upon Polarbtc, or have been contacted by the broker or its agents, you probably have a lot of questions. That’s perfectly understandable given the broker’s vagueness and lack of relevant info on the website.

They are claiming to be an innovative broker that is allegedly UK based that holds a license and regulation. But in reality, Polarbtc, in typical scammer broker fashion, offers a confusing array of contradictory legal points, that when put together make no sense, and thus cancel each other out.

And this Polarbtc broker review is here to shine a light onto this investment scam. After reading, you’ll see why this broker isn’t worth your hard-earned money.

Moreover, beware of scammers such as Eurivex and Moneta Markets. They are also scam brokers you should stay away from. Your investment is at risk!

Polarbtc Funds Security and Regulation

We would like to point out that Polarbtc is basically an anonymous website. And when we say anonymous, we mean it. The broker didn’t reveal the company behind the business, only left a fake UK address.

But there is more to this illicit broker. The most worrying fact about Polarbtc is that the entity is unregulated. You guessed it, the UK’s Financial Services Authority (FCA) has no files on the dishonest broker in its register.

To refresh your memory, all UK brokers must be registered with the FCA in order to operate legally. Because of that, they must have a minimum operating capital of 730,000 GBP and provide clients with a compensation scheme of up to 85,000 GBP in case of insolvency.

But what about this Crypto Conduct Authority, which allegedly oversees the broker’s operations? Well, it’s fake as well. Just like Polarbtc. Such an entity has no power over the financial market in the UK, plus it isn’t registered with the FCA either.

Therefore, the Polarbtc regulation is invalid and fake. It’s a much safer bet to open an account with a broker that’s regulated by the FCA or any other European regulator under the jurisdiction of the European Securities and Markets Authority (ESMA).

The Trading Platform Used on Their Website

When it comes to the trading platform, Polarbtc offers just one trading platform, which is a basic WebTrader. On their website, the phony broker goes on and on about how this platform works wonders, how it’s state of the art,  but without further proof of its existence we have nothing to offer our readers here.

Yes, they are claiming it to be advanced with tons of options and features, but how are we to know for sure? In all honesty, we don’t think there is software at all.

In reality, WebTrader is a rudimental and lackluster platform that offers just basic charts and graphs. Polarbtc doesn’t support legit third-party platforms such as MT4, MT5 or cTrader.

Deposit and Withdrawal at Polarbtc

According to Polarbtc’s website, the available funding methods include the following ones:

• Visa or Master credit or debit card
• Wire transfers
• Cryptocurrencies
• E-wallets

Deposit and withdrawal fees are unknown. We have found a lot of reviews where it seems that most client complaints point to withdrawal issues. Because of that, it’s easy to conclude that the Polarbtc withdrawal process is the problem. With that in mind, you shouldn’t trust this or any other scam brokers alike. 

Polarbtc Account Types Available

Polarbtc offers seven different  trading account types which include the following ones:

• Bronze – $10,000 
• Silver – $25,000
• Gold – $50,000
• Platinum – $100,000
• Diamond – $250,000 
• Premium – $500,000 
• VIP – $1,000,000

The only thing we can say is that this is pricey as hell! Our only question is this – why does the Bronze account actually cost $10,000, when Polarbtc said that their minimum deposit is $250 in their FAQ section?

As for the leverage, the shady broker offers a cap of 1:100. That’s more proof that the broker is unregulated. The maximum allowed leverage in the UK is 1:30.

Another important thing to mention is that we didn’t find a demo account option on the website. In our eyes, it’s a huge red flag because it forces clients to invest real money straight away. Furthermore, registration cannot be completed without a fishy promo code, which is another fraudulent practice.

How Did This Broker Carry Out The Scam?

Many ads that can be found online are full of fake stories promising easy earnings. In case you decide to leave your personal information just to find out more about this, the agents will call you daily to try and convince you that what they are offering is a legit trading environment with the best broker.

In the beginning, they will ask for a smaller amount just enough to cover the minimum deposit requirement but if you agree, they will begin to persuade you to invest even more. Many people think they are immune to these fake stories the agents are going to tell them or they will just sense if something is off, but in reality, it’s much harder to stay firm. 

Fraudsters such as this one or Moneta Markets pose as brokers to take advantage of the general public’s lack of knowledge of trading. And the agents calling are professionals who have many ways to get you on board with making an investment. 

If you just search the broker by their name you will be able to find many complaints that have stated many withdrawal issues. And when people assumed they were being scammed and tried to get their money back, the broker just disappeared . 

So, in case you are one of the victims, remember that getting your money back is possible but it just takes time. We would be thankful if you can share your experience with us since we can help you report your scammers to the authorities.   

Polarbtc Summary

While making this broker review we found that Polarbtc is an offshore based broker that follows no regulations and therefore offers no safety for trader’s funds. And like many others, not only are they unlicensed, but they have been falsely claiming to be all in order to seem more legit. Additionally, they are also claiming to be operating from the UK, but in order for this to be true, they must be regulated by FCA, which they are not.

The minimum deposit requirement is also set at $250, which is just too high and almost never seen with a regulated firm. On top of everything that we already mentioned, their trading platform is just poorly made web trader.

Lastly, the broker doesn’t even offer a demo account for potential traders, which never happens with licensed brokers. Remember to always think twice before investing anywhere and make sure you read the reviews first so you can also avoid brokers such as EurivexTrade or Polarbtc.

FAQs About Polarbtc Broker