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Would you recommend BITNANCEX for trader?
Dean
2022-12-13
ANSWER BITNANCEX is not a licensed or regulated broker even though it states offers that look good to be true.BITNANCEX claims to be regulated by the United Kingdom Financial Conduct Authority (FCA) and located in Luxembourg. However, we did not find any match results to this broker in FCA. That means the broker is not authorized by FCA to provide financial services. We also searched the Commission de Surveillance du Secteur Financier of Luxembourg (CSSF) but only found a warning against this broker issued by CSSF. The regulator warned that BITNANCEX was not supervised by the CSSF and had not been granted any authorization to provide investment services or other financial services in or from Luxembourg. You can check the full warning from here.The truth is, BITNANCEX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like BITNANCEX and trade with licensed brokers.
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