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Suspicious Clone

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Betanarad

Item: Betanarad
Rating: 1.52

China|5-10 years|

High potential risk|

http://www.betanarad.com/zh-cn/

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http://www.betanarad.com/zh-cn/

Licenses

FSC Suspicious Clone

Belize Retail Forex License

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Warning: Low score, please stay away! 4

Previous Detection : 2024-10-03

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

The BelizeFSC regulation (license number: 000331/172) claimed by this broker is suspected to be clone. Please be aware of the risk!

The Belize FSC regulation with license number: 000331/172 is an offshore regulation. Please be aware of the risk!

It shows that this broker is using fake MT4, please be aware of the risks!

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Betanarad · WikiFX Survey

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Betanarad · Company Summary

Note: Betanarad's official site - https://www.betanarad.com/zh-cn/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Betanarad Review Summary
Registered Country/Region	China
Regulation	FSC (Suspicious clone)
Market Instruments	N/A
Demo Account	N/A
Leverage	N/A
Spread	N/A
Trading Platforms	Meta Trader 4
Minimum Deposit	N/A
Customer Support	N/A

What is Betanarad？

Betanarad, based in China, is an online broker offering trading platforms like Meta Trader 4. However, it seems to have issues with transparency and credibility for it currently holds asuspicious clone Financial Services Commission (FSC) license and the official website is inaccessible. Besides, important details about its products, services, trading platform, and fees are not disclosed, which has caused significant accusations of fraudulent activity.

Pros & Cons

Pros	Cons
N/A	Suspicious Clone FSC License
	Lack of Information
	Limited Platform Options

Cons:

Suspicious Clone FSC License: The present authorization held by Betanarad is limited to a suspicious clone license from the Financial Services Commission (FSC).
Lack of Information: The company's website is non-functional, suggesting a lack of transparency and reliability. The lack of comprehensive information about trading instruments, fees, and account details hinders informed decision-making and fuels suspicion.
Limited Platform Options: MT4 only suitable for specific trading styles. This acknowledges the strengths of MT4 while subtly implying it might not cater to all traders' needs.

Is Betanarad Safe or Scam？

Regulatory sight: At this time, Betanarad holds a suspicious clone license for retail Forex under the Financial Services Commission (FSC). This essentially indicates Betanarad's legitimacy for certain operations, albeit the 'suspicious' tag suggests ambiguity.

User feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

Ultimately, the decision of whether or not to trade with Betanarad is a personal one. You should weigh the risks and benefits carefully before making a decision.

Trading Platforms

Betanarad offers the popular MetaTrader 4 (MT4) platform for trading. MT4 is widely recognized for its user-friendly interface, advanced charting capabilities, technical analysis tools, and algorithmic trading options. It can be ideal for both novice and experienced traders. However, Betanarad currently holds a suspicious clone FSC license., which might pose potential risks to its clients.

Conclusion

In conclusion, although Betanarad boasts the popular MT4 platform, its suspicious clone Financial Services Commission (FSC) license and lack of transparency paint a concerning picture. The absence of valid regulation exposes traders to significant financial and security risks. Moreover, the official site being non-functional raises serious doubts about the broker's legitimacy and commitment to customer service.

Frequently Asked Questions (FAQs)

Q 1:	Is Betanarad regulated？
A 1:	No. It currently only holds a suspicious clone FSC license.

Q 2:	Is it safe to trade with Betanarad？
A 2:	No, Betanarad is unregulated and does not provide comprehensive information.

Q 3:	Does Betanarad offer the industry leading MT4 & MT5？
A 3:	Yes. It offers MT4.

Q 4:	Is Betanarad a good broker for beginners？
A 4:	No. It is not a good choice for beginners. Not only because of its suspicious clone license but also because of its inaccessible website.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.