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360WorldBtc Review - is it scam or safe?

360WorldBtc review - Is 360worldbtc.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz 360WorldBtc
360WorldBtc is an offshore broker. Your money is not safe.

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360WorldBtc is presented as an award wining forex and CFD broker, offering over 250 trading instruments with a choice of four account types, leverage as high as 1:200 and the MetaTrader4 platform. 

 

Account type Min. deposit Max. leverage Spreads/ Payout
Standard Account $250

1:200

2,4 pips
Classic Account $2500 1:200 2,4 pips
Premium Account $20 000 1:200 0,6 pips
Gold Account $50 000 1:200 0,6 pips

 

And while they say to be headquartered in Zurich, Switzerland, to run offices in the United Kingdom and Bahrain and to be regulated both by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), non of that turned out to be true. 

 

In fact not only the broker is not regulated by the above mentioned authorities, but also they are blacklisted as probable scammers by CONSOB – the financial regulator in Italy. If you are still considering whether to deposit any funds with 360WorldBtc better read the following review.

 

360WorldBtc Advantages:

 

Because we always start our reviews with any possible advantages a broker might offer its clients, here with 360WorldBtc this could be the trading platform, available to download on their website.

 

MetaTrader4 supported

 

MetaTrader4 is a highly reliable platform, well known to most experienced traders. It comes with an excellent pack of advanced charting tools, over 50 integrated market indicators and customizable trading robots with the help of which one can easily run automated trading sessions. So here you may check as well our list of brokers, where you can trade on the MetaTrader4:

 

 >>MT4 Brokers<<

 

Bear in mind however, that in this case the trading platform is provided by a third party - Inter Media Ltd., and this is not a standard practice.

 

Acceptable minimum deposit requirement

 

You can open a standard account at 360WorldBtc with 250 USD and this is in line with what most other brokers would also require. Still bear in mind that with some big and well known brokers like FBS and IG you will be able to start trading with just 5 USD or even less.

 

360WorldBtc Disadvantages:

 

Falsely claims to be regulated by FCA and CySEC, blacklisted by CONSOB

 

360WorldBtc is owned and operated by Game Capital Ads Limited, which claims to be based in  Zurich, Switzerland (we can not confirm this), to have branches in the UK and Bahrain  and to be regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).

 

 

As we already noted, however, not only 360WorldBtc and Game Capital Ads Limited are nowhere to be found in the FCA and CySEC registers (we diligently checked that), but also, both the company and the broker appear in the latest warnings list of the Italian financial regulator – CONSOB, for targeting EU customers without proper authorization and possibly running a scam. See for yourself:

 

 

Once again in such cases, our best advise is to trade only with reliable brokers, licensed and authorized by well respected institutions like the FCA in and CySEC. What is more, with a FCA broker your funds will even be covered by a client compensation scheme, that will guarantee the first 85 000 GBP in your trading account even in the unlikely case your broker files for bankruptcy. So here you may also check our list of brokers, regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Trading bonuses

 

All trading bonuses invariably come with strings attached – some minimum trade volume requirement, which scammers generally uses as a pretext to cancel your withdraw requests. It is not a surprise that such promotions are altogether banned on regulated markets like the European Union.

 

Fake awards

 

On its homepage 360WorldBtc displays a series of awards, but all of them proved to be fake. See for yourself:

 

 

High spreads 

 

As tested with a demo account the benchmark EURUSD spread floated about 2 pips, which is at least half a pip higher than the levels traders would usually consider attractive. Still, here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Skrill not accepted as payment method

 

360WorldBtc seems to accept payments with credit and debit cards like VISA and MasterCard, VLoad and bitcoins. Skrill however is not in the list and that is worth our attention, because of the new anti scam policy adopted by the money transfer company about a year ago. According it Skrill partners only with legit and properly regulated brokers, and as we already established 360WorldBtc is not regulated and most probably is involved in scam. Beside, here you may check our list of brokers accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

360WorldBtc is an obvious scam. They falsely claim to be regulated by the FCA in the UK and CySEC in Cyprus and they appear in the warnings list of CONSOB in Italy. So once again, our general advise is – stay away form unregulated websites like 360WorldBtc and trade only with properly licensed companies.

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Traders` reviews for 360WorldBtc

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