Britonprice Review Scam Complaint
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BritonPrice is an offshore hybrid broker that offers both forex and CFD and binary options trading. There is no clear information regarding the trading conditions of the broker on its website. It is an unregulated broker owned and operated by Solutions CM Ltd that too is registered offshore, out of Bulgaria. Despite of, being a CFD provider, BritonPrice that should be regulated by the Bulgarian Financial Supervision Commission, or another EU financial regulator, but it isn’t. Therefore, consider the below given complete review about the broker before investing.
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About the BritonPrice:
BritonPrice provides its clients a choice among the five types of accounts that are Micro, Mini, Silver, Gold and Diamond. The broker offers option of trading in many currency pairs, as well as CFDs, including on cryptocurrencies, commodities, indices, stocks, bonds and ETFs. In the range of cryptocurrencies, the broker is providing the most popular ones in its product portfolio, like Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Gold, Bitcoin Cash, Stellar lumens, Monero, Ripple, Qtum, Ethereum Classic, NEO, ZCash, and Tron. The leverage ratio provided by the broker is pretty average at 1:200 which is not too high. As not so dangerously high ratios suit majority of trading styles.
BritonPrice’s website does not mention anything about the spreads, which is quite suspicious. Adding to this suspicion, the broker does not offer any free demo account. BritonPrice offers its services via a web based trading platform which has no name and this trading platform seems to be quite popular and used platform among shady hybrid brokers that offer both forex and binary options trading. Another thing that might seem as one more disadvantage of the broker compared to the others is that it requires EUR 5,000 from traders just to open a Mini account with it. Whereas, most of the legit brokers require up to $250 as the initial deposit. That being said, investing this much money in a shady and unregulated broker is not the wisest thing to do.
Is BritonPrice legit or scam?
BritonPrice is an unregulated shady broker which is owned by Solutions CM Ltd that is known as the owner of some scam broker brands. Considering the high initial deposit and unspecified trading conditions, the broker seems a scam. Moreover, on top of everything Spanish Financial watchdog, CNMW has blacklisted this broker. Hence, it’s a scam broker and traders are requested to stay safe from this scam broker.