Is BMTdirect Real Or A Scam? Our Verdict

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Table of contents

• What is the BMTdirect platform?
• Concerns and red flags about BMTdirect
• User reviews of BMTdirect
• Is BMTdirect real or a scam?
• How can I check if BMTdirect is legit?
• What to do if you’ve lost funds already?
• Recovering lost cash or crypto
• How we can help

What is the BMTdirect platform?

BMTdirect, sometimes known as BMTdirect365, presents itself as an online trading and investment platform offering access to a wide variety of different instruments, such as cryptocurrencies, Forex, stock and shares and commodities.

According to the website, BMTdirect claims to provide ‘top-tier trade services quickly and reliably’ along with free trading guidance and signals to its ‘115,000 active traders’.

BMTdirect also claims that it’s been in business for 13 years and offers more than 1000 different financial instruments to trade with advanced trading tools.

On first glance the platform looks as if it has been professionally built and features a clean, modern interface that would fit with a company operating in the crypto/financial space.

Concerns and red flags we have about BMTdirect

When you scratch beneath the surface of the BMTdirect platform the cracks begin to show and we became aware of multiple red flags almost immediately.

These include:

The BMTdirect domain was registered just five months ago at the time of writing which directly contradicts the platform’s claim of operating for 13 years (or 12 as claimed on another part of the site).

Legitimate platforms with such an extensive user base and trading history would normally have been around for a lot longer.

There’s no mention of any regulation by major authorities, such as the Financial Conduct Authority  or the US Securities and Exchange Commission.

Financial platforms offering regulated services legally should clearly display details of their regulation and be searchable in various databases.

Another problem is that BMTdirect doesn’t have any social proof that we could find, nor does it provide any social media links on its website. It’s very unusual for any legitimate financial entity not to have a social media presence.

The domain ownership information has been hidden, and there is no information about where the company is located or the team behind it on the website. This lack of transparency is a huge red flag.

User reviews of BMTdirect

We’ve reviewed multiple online scam reporting platforms together with comments from various platforms across the web and the feedback about BMTdirect is overwhelmingly negative.

The platform has an extremely low trust score, and many people report having lost money here after initially being lured in by the promise of large profits in a short space of time.

The accounts of what happened match what people have told us. Investors have found they can’t withdraw any of the funds from the platform, with representatives telling them they need to pay various ‘fees’ or ‘taxes’ in order to do so. But even if they pay, no money is released.

Is BMTdirect real or a scam?

Having thoroughly evaluated the BMTdirect site, its claims and its online presence it’s our conclusion that this platform is likely to be operating fraudulently.

The multiple red flags we’ve found combined with a pattern of behaviour in relation to investors that follows that of many other online investment scams is very concerning.

We can’t find anything about this platform that would cause us to believe it’s real or a properly regulated, trustworthy investment platform.

Therefore BMTdirect should be treated as a high risk and potentially fraudulent investment platform.

How can I check if BMTdirect is legit?

Whenever you interact with a financial platform, whether it’s crypto or any other form of investing, you should always do your due diligence.

This involves checking online for reviews and user reports to hear from people who’ve either directly interacted with the platform you’re planning to use or have experience in spotting scams.

There’s a wealth of information available online so always do your research first before parting with any of your money.

What to do if you’ve lost funds already?

If you’ve already lost funds on the BMTdirect platform there are certain things you should do immediately.

If you’ve been caught up in a scam the first thing to do is break off any contact with the scammers and under no circumstances send any more money.

You also need to ask yourself if your bank and crypto platform accounts are safe. Maybe the scammers asked you to use an app to enable them to connect to your device?

If this is the case, you need to check that your accounts haven’t been compromised as the scammers may have been able to see your login details.

You should also report what’s happened to your bank, crypto platform and to the police, while saving all the evidence of what’s happened, such as emails, chat logs, screenshots and crypto wallet addresses.

Recovering lost cash or crypto

If you’ve fallen victim to a likely scam like BMTdirect you may be wondering if you can recover your money.

Unfortunately, this is very difficult to do as the scammers can be based anywhere in the world and sometimes in countries where the laws are very different to your home country.

But, depending on the amount you’ve lost and the exact circumstances, there are a couple of options that might be open to you.

In the UK, it’s sometimes possible to secure a refund/compensation from your bank. You can pursue the case yourself or use a specialised no-win, no-fee solicitors to help you. In this arrangement, there’s no fee to pay unless the case is successful.

If this option isn’t open to you, you could consider crypto tracing. This process usually involves up-front fees and aims to identify the scammers and locate the stolen crypto.

It’s important to note that neither of these options guarantee you’ll get your money back. Anyone who does offer such a guarantee will be a scammer.

How we can help

If you’ve been caught up in the BMTdirect or any other potentially fraudulent platform or are concerned that an investment site you’re considering using is a scam, then contact The Crypto Adviser.

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