Offshore crypto broker FXBITMARKET gets OSC warning
The Ontario Securities Commission, the largest financial regulator in Canada, has issued a warning regarding offshore cryptocurrency and forex broker FXBITMARKET Limited, operating from website fxbitmarket.com.
The OSC stated that the company, nominally located at 217 Summit Boulevard, Birmingham, AL 35243 USA, is offering investment services on its website but is not registered in Ontario to engage in the business of trading in securities.
The OSC typically issues these kinds of warnings when offshore brokers are targeting Canadian retail traders.
While giving the aforementioned US address on its website, FXBITMARKET also states that “We are a legal company registered in the United Kingdom providing its services to the members all around the world.” However a quick check of company registries in the UK does not have any such company listed.
FXBITMARKET offers different “investment packages” on its site, stating that “FXBITMARKET guarantees you the stable and secured risk free income at best of your selected investment package.”
The company lists on its site that its Director is someone named Joseph Chandler.
October 10, 2020 @ 7:08 pm
i have concern about fxbitmarket.com,after someone paid for the excess fee the company didn’t told the investor that they’re gonna trade his/her account by 40% of her/his profit..they’re asking for the tax fee again.is this legit?
November 26, 2020 @ 8:27 am
I ask the same question myself too. They never gave my money back even if I already paid for the tax fee and other taxes. They said I still have the last fee remaining. Sounds like they have extorted money from me.