Convenient CFD trading on clear terms, 60+ crypto assets and the best loyalty program are offered by BYTREND. For a relatively modest deposit, you get floating spreads and low commission, instant order execution, bonuses and cashback. In this review, we will analyze in detail the bright and dark sides of the broker, and at the end we will calculate the results.
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BYTREND. General information
Broker's main website:
The BYTREND website is a meager and wretched resource, practically devoid of content. Banal benefits and a list of services, primitive information about the company. All this causes yawns and a desire to leave such a valuable platform as soon as possible.
It did not help that the company's management bought a domain with experience (see the very first screen). Although, in the web archive, we learned that until 2020, the domain was put up for sale, more than a year of existence, the project simply had to get a normal cost estimate.
But no. Not this time.
On the main page you can see the following blocks:
- menu (presentation of services, including a trading platform, analytical tools and a loyalty program, as well as a section about us and contacts);
- a header with a call to start trading on the best conditions and a registration button;
- financial table of prices for fixed assets;
- latest economic news and charts;
- company's news;
- window to go to the support service section;
- web platform presentation;
- a statement that the broker does not cooperate with Japan, the USA, Korea and some other countries;
- a risk warning that also pops up when you first launch the site and disappears only after you click the "clear" button.
The main menu with login/registration buttons is duplicated in the footer. It also provides contact information, which we will analyze, along with several other sections, in the next chapter.
Analysis of official information BYTREND
Let's say right away that the BYTREND company is registered in Saint Vincent and the Grenadines - one of the favorite countries where all kinds of swindlers and crooks live.
The republic owes such popularity to low requirements for beneficiaries, the main of which prohibits the provision of its services to residents of the registering entity. It is understandable. The state protects its citizens from all sorts of fraud and does not allow its own finances to flow abroad. At the same time, he does not disdain at all to take a "modest" fee for the registration of foreign companies.
In addition to the fact that the main financial department of the republic publishes information on its website that it does not issue licenses to all kinds of brokers, there is another important point.
Our friends cite one of the most common registration addresses, where a dozen more similar fake brokerage projects are “registered”.
We don't know what's smeared in that Suite 305, Griffith Corporate Center, Kingstown, St. Vincent & the Grenadines, but for some reason a huge number of crooks, including those exposed by us on binarybets.ru, live there.
Naturally, no one will give any licenses to an anonymous offshore company. And, even despite the fact that the office does not list Russia in the list of restrictions on countries, it is not in the register of the main Russian regulator.
And this means that if you suddenly decide to give them your money, then voluntarily transfer it to a place where they will do whatever your heart desires with it, and at the same time not bear any responsibility. Not before you, not before the law.
Also, BYTREND did not bother to make a beautiful legend about itself. In the “about the company” section, we see a small paragraph consisting of such general phrases that they will suit absolutely any such office.
Aroused indignation and the user agreement, which states that everything you do on the platform is your responsibility. At the same time, you have no right to demand advice from BYTREND employees. They can voluntarily give you advice, but if suddenly the recommendation is unprofitable, then they have nothing to do with it.
It also seemed interesting to us that the office is recruiting all kinds of managers and consultants into its staff. At the same time, taking into account the fact that the client does not have the right to demand any consultations from the company (see the screen above), it becomes obvious that all these people are engaged in only one thing - the methodical hanging of noodles.
How work is built in BYTREND. Tools and conditions for traders
For their pinocchio BYTREND office has prepared several tariff plans for clients, with a minimum entry threshold of 500 USD. At the same time, the “fork” of prices is formed according to the principle familiar to us “invested more - received more”. The owners of the project unequivocally hint that serious trading is possible starting from 2000 USD, highlighting this tariff plan with a contrasting color.
Our heroes have not forgotten about the incredible loyalty program, which they announce at the first meeting, in the header of their site (if you can call it that).
To start making money for together with BYTREND, you need to fill out an application for registration, deposit money into the account, according to the selected tariff and enter the trading terminal.
That's just, if you still do not have enough arguments against, you can get a control shot in the next chapter.
What BYTREND customers say
Despite the fact that the domain for the monitored project was purchased in 2020, during this time the company did not bother to get enough real reviews. One gets the impression that the project is so unclaimed that only referrals write about it, who are trying to get their precious commissions by deceiving people. However, even that small number of truthful, in our opinion, comments was enough to finally establish our opinion that BYTREND is a scam.
If BYTREND took your money, share your story below this article. Perhaps it is your review that will help someone not to step on the same rake.
How to cheat in BYTREND
From the reviews that we managed to unearth in RuNet, we realized that BYTREND is a typical kitchen that lures newcomers by collecting their contacts on thematic sites and social network groups. Having hung tons of noodles about successful success and showing their fake registration, scammers compulsively drag a victim into their project who has fallen into their network. But after the client replenishes the real account, the situation changes radically. For some time, profitable deals are drawn to him and, possibly, they are bred for additional replenishment (for example, to pay for insurance or verification). But soon the trader discovers zeros on his account and goes to cry into his pillow. Because neither customer support, which stupidly goes into the “sunset” mode, nor law enforcement agencies, can help here.
On the BYTREND website, we found the following signs of fraudulent organizations:
- lack of adequate contact details, registration, license;
- meager, uninformative, cheap official resource;
- fraudulent client agreement;
- the presence of negative reviews.
We definitely do not recommend linking your trading future with projects like BYTREND. Unless, of course, you value your time and money.
If you have been scammed by BYTREND or other similar companies, you are in a difficult financial situation and do not know what to do, perhaps we can help you find a way out. Fill out the form at the top of the article and we will send a step-by-step plan to return lost investments to the specified e-mail.