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Bears Markets Review - is it scam or safe?

Bears Markets Review - is bearsmarkets.com scam or good forex broker?

RATING: 1 / 6 REVIEWS Bears Markets
Bears Markets is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Deposit Maximum leverage*  Spread
Mini  Up to 2 BTC 1:200 ~$30 BTC/USDT
Silver  Up to 10 BTC 1:200 N/A
Gold  Up to 20 BTC 1:200 N/A
Diamond  Up to 45 BTC 1:300 N/A
VIP  More than 45 BTC 1:400 N/A

 

*As announced on the broker’s website. The maximum leverage we saw on the platform is 1:5.

 

Bears Markets is a CFD broker with a clear focus on cryptocurrencies that offers the account types listed above. As you can probably guess by the low rating, we don’t recommend this trading provider. It is not licensed and has been blacklisted by Belgium’s financial regulator. Below, you can find all the details on Bears Markets, including some possible benefits, provided that it is not a scam.

 

 

Bears Markets Advantages

 

Multitude of CFDs offered, various pairings

One of the few possible benefits of using Bears Markets is the broker’s rich product portfolio. It includes wide range of CFDs - on cryptocurrencies, indices, commodities and stocks, and all kinds of pairings between those are possible. However, note that this broker does not offer any forex pairs for trade.

 

High leverage provided

Another potential advantage of Bears Markets is actually a bit controversial. The broker allegedly offers leverage as high as 1:400, which will surely suit all trading styles. However, trading in volatile assets such as cryptocurrencies with leverage ratios that high involves significant risks.

 

That being said, most cryptocurrency exchanges do not support margin trading, and the majority of forex brokers that offer trading in crypto CFDs offer leverage of 1:5 or 1:10. When we tested Bears Markets, the maximum leverage levels we saw was 1:5.

 


Bears Markets Disadvantages

 

Not regulated, blacklisted by FSMA

The brand is operated by Danha Solutions KFT, a company allegedly registered in Hungary. However, the firm is not authorized by the country’s National Bank – Magyar Nemzeti Bank, as required by law, nor by a similar EU financial regulator.

 

What is worse, we found out that Belgium’s Financial Services and Markets Authority (FSMA) has blacklisted Bears Markets, warning investors that it is not licensed by it and might be involved in cryptocurrency fraud.

 

No clarity on spreads, nor the nature of the broker’s services

Bears Markets does not offer testing accounts with paper money and has not announced any reference spreads on its website. We always view this as a huge negative, because it means that the broker is transparent about its services and pricing.

 

Besides, some inexperienced traders may be lead into thinking that Bears Markets is a cryptocurrency exchange, instead of CFD crypto broker. The company has not stated clearly that the nature of its service is offering trading in derivatives such as CFDs.



>> Bitcoin Brokers compared to Bitcoin Exchanges <<

 

 

“Scamex” platform

As many other unregulated crypto CFD brokers, Bears Markets offers its services on a simple web-based trading interface we have dubbed “Scamex”.

 

Clik to zoom in.

 

This platform is easy to use, but lacks many of the advanced features the MetaTrader4 offers, such as advanced charting, automated trading via Expert Advisors, a lot of customization options, and more. 

 

 

>> Trade with a MT4 broker <<

 

 

No forex trading

This is a minor flaw when compared to the previous disadvantages of this broker, but yet we must mention it. One cannot trade forex with Bears Markets, even the most popular and liquid currency pair, EUR/USD, is not offered by this broker.

 

 

Conclusion

 

There are a lot of things we don’t like about this broker, but our biggest concern is the lack of any regulation and financial oversight, as well as the warning the FSMA issued against it. It Investing in unregulated brokers is far too risky, especially on the forex and cryptocurrency markets, which are plagued with con-artists.

 

That is why it is best for investors to select among companies that are reliable and licensed, where there their money and coins will be safe.

 

 

>> Our list of reliable crypto brokers <<

 

 

To sum up our recap of Bears Markets in a few words:

 

Pros Cons
Multitude of CFDs offered, various pairings Not regulated, FSMA warning against it
High leverage levels announced No clarity on spreads, nor the nature of the broker’s services
  “Scamex” platform
  No forex trading

 

Latest news about Bears Markets
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Traders` reviews for Bears Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

Pros

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Bears Markets scam - stay away

This company is fake they took my money but visa is one of the biggest companies in the world they got it back for me without them I would of lost all my savings below is a list of e mail an names I have put for people to be aware if u ever join this site an get called by these guys to avoid them I will do in stages

[email protected] this person tony was my first broker who like michael skinner commented below said he asked for more money an more until I said no on his second call to me he said u should grow up ya still living with your ya parents he kept stressing to be saying im ya age I got kids I got so much money this is wot he cunt was saying to me so since I got my money back from visa I e mailed all of these guys saying thanks for pretending to make me a millionaire I said im happy with my life im happy with my car im happy with what I do he then was the only one to e mail me back an say so you big mad or little mad I then told him stop e mailing me an I blocked him as hes a child for a guy thats got a big mouth I contacted the head of finances an I told him the manger said to me do u want us to fire him straight away I felt bad an said no leave him he need the money as he only scams people to get it I wish I had said yes hes so rude.


[email protected] he was the first person to contact me to make the deposit he said to me he will be my manger basicaly broker who will let me know wot to do an stuff to make fake money this was a lie as soon as I made the deposit he was no were to be seen he said ok I will get a broker to contact u which was tony below he basically laid as first he told me he was the broker also in the proccess of me depositing the money he basically asked me to send him my full card details as the deposit money was not going trough because my bank felt the company was a scam I then asked my bank to get it to trough I sent him my card details as I felt pressured he was like one of them guys u see talking with donald trump pretending to be so rich an stuff stright after I gave my details like a idiot I canceled the card he never contacted me since I got e mails an all sort proof he could basically be arrested if I went to the police but there in different places thanks


[email protected] was the second broker who I was told was going to contact me as tony collins my first broker told me he wont be carrying on with me as I told him I dont want to invest more money as he called me a day later asking me to invest more then 6000 thousand which I didnt even have so first bill haward was really nice basically being fake what we say in the uk when I told him what happen he was like I hope this guy my first broker gets sacked as he didnt want tony speaking to anyone else rudely the way he spoke to me he didnt even care about me he said I dont want anyone to be infected not cearing about me when I told him I was told by the head of finaces that I want ot cancel my account an withdrawal my money the said I have to wait two weeks an this new broker bill haward invested all my money which I wanted to withdrawal in ramdom stocks which were all fake as u cant withdrawal ya money on this site over the phone call me said to me he has a whole lot of super cars only drives v12 cars an said an I thought he said a brand called moncler then he asked me what was that I said they do jackets an hats an he said ok I will get it for my son an said im not even going to look at the price ill just get it as I said there very expensive guy was a fucking snob id spit on his fake if I ever saw him every time I would contact him to ask something by phone he said im busy ill call u back was so rude I dont wanna say more as it get me very angry thanks

u dont need to know jus learn by my mistake thanks 05/30/2019

Bears Markets = sh*t company

Flee this shitty company, they are thieves. They are cowards who attack by phone and who harass you to get money and once the transfers made, there is no one left.
I do not understand that there is nothing to do against these people
What solution to recover the money paid?

max 05/22/2019

Bears Market, what a company

After paying the £250 start up deposit I had the first of many phone calls telling me how much money I was about to make and then suddenly I needed to make another deposit of £700 to get started. When they realized that was not going to happen and I requested a refund of my £250 deposit I received the last few persuasive phone calls and then silence and no response to emails whatsoever. So be advised and keep well away from this rubbish scam company which is not regulated, blacklisted by FSMA, supposedly registered in Hungary but not authorized by country's National Bank as required by law and Belgium's Financial Services has blacklisted Bears Market and warned investors that the company is not licenced.

Michael Skinner 05/06/2019

urgent

hi i need help i cant get in contact with this shit company that i joined they should be shut down i can withdrawal my fund what shall i do i deposited my saving funds please help

parminder 04/30/2019

impossible to withdraw my money !

This has been an absolutely awful experience from the beginning, firstly the advertising stated that i could withdraw my money as soon as i liked , and after my initial deposit of the minimum stated amount ( as this is my first time at investing / stock market etc ) and after numerous harassing calls from a very unprofessional man, who only wanted a larger investment from me , i can not seem to withdraw any money ? i can t seem to contact anyone and can't get a response via e mail . Not sure where to go with this now ?

tracey martin 04/28/2019

Bears market withdrawal

After trading with bears market.. with having waited 3 months to withdraw and being told it’s in hand and now there’s no contact at all! I’m guessing they have packed up.

Luke Saunders 04/06/2019
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