Are a scam?

Investment ForumCategory: Broker QuestionsAre a scam?
joshua asked 3 years ago
Can anyone tell me if the broker Btraders is a scam?

This Brokers use an account registered under “Bintrading Birmingham GB”.

I have been transfer $5,000 to this broker.

There is a woman used a name Cara Stern as Senior Account Manager. This brokers website: Their contact number is +442037692034.

16 Answers
Moderator Staff answered 3 years ago
Hi Joshua,
It says on their website that they are owned by LCR Technology Ltd. R.A Mladost 3, bl. 389, 1712 Sofia City, Bulgaria.
We did not see any license for them. 

Best Answer

Sanjoy Sanyal answered 3 years ago
I also deposited some money to BTraders. Under the guidance of Cara Stern I entered into Contract Trading BTC / USD.
From mid-November 2017 to 5 February 2018, Cara talked to me on the phone twice a week.
From 5 February 2018 onward, suddenly she seems to have dropped out of the scene.
Mails to her (and to are going unanswered.
Messages in the Contact Form are not being replied to.
Calls to +44 (20) 8089 2398 are going to a voice box with the usual recorded message. Nobody calls back.
I am in a fix now. Can anybody give some guidance please

Kevin answered 3 years ago
Same here. It was around that time she disappeared.  Closed some of the trades that I had opened and then couldnt get in touch with her. Scam? Maybe the company failed after BTC dropped 70%?
let each other know if you hear or get any information.

Claudio Amore answered 3 years ago
It happened the same to me. Everything started on Nov. 6, 2017 when a was called on my phone by a woman’s voice. She asked me if I had traded before and offered me the possibility to trade on an MT4 platform and to be taught to use it if I opened an account with iForex24  brokerage, even  with a minimum amount of 200 USD.  Agreeing with her, I opened an account with iForex24 and funded it with 200 Euros, but I noticed that the charge on my card was in favor of Bintrading Birmingham GBR. Soon after that a Michele Chiesa called me and said he was my account manager with iForex24. We started with 0,01-0,02USD trades at first but he convinced me to put some more money on my account, when it was thriving and I put €500 on Dec. 1 and €2500 on Dec 4. Most trades went well but when the money on my account had gone up to €5562,00 on Dec. 11, I told him that I wanted to draw the €3200 I had put on it. Then he told me that he had a special plan and convinced me to make trades from 2 to 5 contracts at a time.  All my money transfers were in favor of Bintrading Birmingham GBR. But everything he suggested that I bought or sold  went the opposite direction and my account turned to zero.  I haven’t heard from him any more.

Andor answered 3 years ago
Same here.
I transferred some BCN back in November, and Cara were convincing regarding her “Managed Account” until 2 weeks ago.
Then suddenly there are no more reply from anyone at Btraders.
I will start investigation of this, and for sure Cara shall not have any good night sleeps if she stole my money.

Michael Keller answered 3 years ago
Worked well with Bitcoin futures. 76% success rate. Then it was closed. Only Margin trading open. did not work so well. Last accounting entry was 28th February 2018, despite trades were closed later. Dashboard and Trading platform show different values. My trades have been closed, nobody calls, nobody answers my emails. I can add 3 contact persons to the list: Markus Ziegler (Account Manager), Benjamin Kraft (Trader), Michelle Williams (Accounting). Hope they come back when Bitcoin recovers… 8-|

Michael Keller answered 3 years ago
Update: Someone from btraders called me to tell me they are moving to a new platform and might be back in a few weeks.

Sean answered 3 years ago
Anyone else here back from their account manager?
Was it someone from Btraders that contacted you before?
Hmm…. It still seems suspicious that they would just disappear without any notice for  almost two months…

Michael Keller answered 3 years ago
Update: They started trading again in my account (01.03.2018 11:00), but without my knowledge. This was not visible until recently. Currently it is in plus, so I let it go. But no account manager is contacting me. Strange.

Sanjoy Sanyal answered 3 years ago
I have also not heard anything from BTrdaers, Michelle Williams, Cara Stern for almost 2 months.
Now I cannot access their Webiste also. It says 404 – Page Not Found.
Looks like they have skipped with our money 🙁 🙁

sean answered 3 years ago
Has anyone reported this to international crime or cyber fraud?

Damien answered 3 years ago
Hello Guys.  I’m sorry to inform you but BTraders, also XLCoin are scams.  I had Cara Stern and boy was she a pushy bitch.  I lost 6000usd to them.  I so called was making money untill December when bitcoin was the highest.  Then I couldn’t get any communication from her.  Eventually she emailed to say “I’m sorry we have lost everything in the account”.

Basically they take your money and any earnings you’ve made and transfer into their account.  I nearly vomited when I heard this news.  My life’s earnings all gone in a matter of months.  I have thankfully got it all back through bank insurance but if I hadn’t I’d be broke.  Keep well clear of them.

They are like the “wolf of wall Street” film.  They make you think your rich on paperwork and get you to invest more and more and when you want to withdraw some profit (they say you can do at anytime, because it’s your money) they’ll persuade you not to because it’s better to reinvest in other shares etc and that way your money is kept in their account.  Cara Stern is the account manager.  She does not come up in any online searches.  Fake name I guess.  I hope everyone out there who’s fallen into this trap gets support and help.  And help getting your money back.  Someone has to stop them.

Theresa Goldthorpe answered 3 years ago
Yes I invested $8000 I spoke with Cara Sterns twice first when she advised me to fund my account and second when she placed the trade, she said she would speak to me every week to tell me how it was doing.
I did not hear from her, eventually the emails I sent to her were returned undelivered, I then chased up Michelle in accounts and she said Cara was in hospital (f..cking) list. She then said she would get someone to call me.(yeah right)
i checked my account it said the $8000 was there I requested withdrawal nothing appeared I checked again it showed a balance of $5600,they stated I lost $3300 (wtf) I have sent so many emails I have phoned no answer emails go through no answer.
I am gutted that they have got away with this.
probably partly my fault not checking up on them.

Monzurul Haq Shoaib answered 3 years ago
Hi friends, I have charged my Credit Card for $250 against an ad for MJBD a money trading software and after charging my CC it is gone somewhere that it is out of trace

Moazzam answered 2 years ago
Hello to all is there a any law so we can take action against them Btrader just ran away take our money they took 5000 from me I request all who have lost money to them get to gather to take action jointly against these fraud

A vanderhauw answered 2 years ago
I am in it for $1000 with Bintrading and after depositing one more call and than …… Are we stupid! I am !

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