About FX Pro BITcoin
Who Is FX Pro BITcoin?
FX Pro BITcoin is an online forex and CFD broker that has been operating since August 2019, according to its registration in Argentina. The company's official website, fxprobitcoin.com, presents a straightforward offering of leveraged currency trading with a focus on cryptocurrency funding methods such as Bitcoin and Swiftcoin.
Despite claiming a history dating back to 2011 under previous management, the company's registration date suggests a more recent establishment. The broker does not hold any recognised regulatory licence, which is a significant factor for traders assessing trustworthiness. Its primary service is providing retail clients with access to forex markets via a proprietary platform.
Regulation and Licensing
Our records indicate that FX Pro BITcoin has no regulatory licence from any known financial authority. This absence of oversight means the broker is not required to meet minimum capital standards, client fund segregation rules, or other investor protection measures common among regulated brokers.
Traders should be aware that operating without regulation carries inherent risks, including limited recourse in the event of disputes or financial loss. The company's official site makes no mention of any regulatory body, which is consistent with its unregistered status.
Trading Conditions and Instruments
The broker offers leveraged trading on major forex pairs such as USD/JPY, EUR/USD, GBP/USD, and others, as displayed on its homepage. It also mentions gold trading and CFDs, but does not provide a detailed list of instruments or contract specifications.
Leverage is offered from 25:1 up to 1,000:1, which is extremely high and can lead to rapid losses. The broker claims no commissions, with pricing based on variable spreads sourced from interbank rates. However, no specific spread figures or average trading costs are disclosed for independent verification.
Account Opening and Funding
Opening an account with FX Pro BITcoin involves completing an online registration form, verifying an email address, and depositing funds via Payeer.com, Bitcoin, or Swiftcoin. The broker promotes next-day account activation for both personal and corporate clients.
Funding and withdrawals are processed through the support email, which indicates a manual and potentially slow process. The acceptance of cryptocurrencies and the odd mention of using 'unwanted inventory' to fund accounts adds to the unconventional nature of this brokerage.
Target Audience and Suitability
FX Pro BITcoin appears to target retail traders who are comfortable with high leverage and alternative payment methods such as cryptocurrency. The multilingual support and claim of serving over 100 countries suggest an international clientele.
Given the lack of regulation and limited transparency, the broker is not suitable for cautious or risk-averse traders. It may appeal to speculators willing to accept significant risk in exchange for high leverage and simplified account management via digital currencies.
Website and Company Claims
The official website is basic and shares space with casino-related links in a 'Similar interests' section, which is unusual for a forex broker. The site includes standard pages for FAQs, account opening, and payment options, but no detailed legal documentation or risk warnings beyond a generic disclaimer about losses exceeding deposits.
The company claims to have been in business since 2011 and under new management since 2016, but our data shows a registration date of 2019. This discrepancy, combined with the lack of verifiable history, casts doubt on the credibility of its claims.
Overview compiled by FXCanary from regulatory records and public data. full FX Pro BITcoin review