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BBGroupFX is another lie that is trying to creep itself into the online trading world. Best Brand Group is what the acronyms BBG stand for, and it’s a huge scam. There’s no trading place taking place as more investors lose money with the broker. There are over fifty complaints filed with regulatory bodies regarding the broker. Most of these victims have lost their funds through dubious services and transactions. Learn more about the broker in this detailed BBGroupFX Review.
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Humanity, professionalism, and transparency are what the broker claims to be the pillar of their brokerage. All these are fancy words that hold no water once you decide to engage with the platform.
For the last few months, there have been several complaints lodged against this broker. Most of the complaints are about personal identity issues and withdrawal. It seems the broker is hiding the fact that they are a scam outfit.
According to the history they provide, the original Best Brand Group Company was founded in 2008. The Company had a successful cloud-based trading algorithm which no one seems to acknowledge. Its existence appears only in the website platform and nowhere else.
Although the broker claims to be located in Cyprus, their phone code suggests Ghana. We had to dig deeper and find out the truth about their actual location.
There are six trading instruments found on this platform. The six assets include bonds, commodities, crypto, forex, indices, and shares. With CFDs trading taking center stage in almost all trading aspects, the broker wants to take advantage.
With regards to Crypto, the broker is offering CFDs on Crypto. The broker also claims to offer the most valuable trading commodities in the world. All this is meant to drive naïve investors into signing up.
As the broker claims to be in Cyprus, the authorities have already blacklisted the platform. The Cypriot broker governing body CySEC has already issued a stern warning regarding the broker. No investor or trader should sign up with them.
Those who do so will be trading at their own peril. And for the last few weeks, complaints from all corners of the world have been coming in. To block the broker from scamming investors, a warning from regulators should do the trick.
The broker uses the Cyprus address to try and lure investors into signing up. CySEC is known for only issuing licenses to valid brokers. The broker wants to take advantage of it, and we know how to expose them.
With the broker lacking any documents to prove their license, it’s a sign they are scamming investors. A genuine broker will post copies of their license documents to members of the public. It shows professionalism and guarantees members the safety of funds.
For all their advertisement, the broker fails to mention even a single board member of the company. It seems that the company Best Brands Group is non-existent, which is proof of their scam.
These are professional scam artists who have designed an aesthetically appealing website to lure investors. Thanks to our keen eye and investigative skills, we will uncover all the mistakes on the website. Keep in mind that the platform has no known owner.
Over the recent months, there have been telling signs that this is a rogue broker. Social media platforms have seen members complaining of the broker’s illicit ways. We have also seen comments on various online trading platforms.
None of the comments seem to resonate well with the platform. Most have already given up in terms of ever withdrawing their balances. And this means that your funds are far from safe with Best Brands Group Forex.
Thanks to the domain tools checker, you can get valuable information regarding a website. Most websites allow their history to be available for public viewing. With this in mind, we had to check the history of the website.
The website went live on October 2, 2020. This means that the broker is barely a year old and already has complaints from several quarters. These are telling signs of worse things to come for those continuing with the quest of joining BB Group FX.
BBGroupFX is furnishing members with four account types to choose from. These account types are Silver, Gold, Diamond, and VIP. Silver account is the most basic account with a minimum deposit of 250 Euros.
The account special feature is a welcome bonus once you sign up. Gold account holders must deposit 5,000 Euros to start trading. Diamond account holders must deposit 40,000 to start trading. For the VIP account, you must contact the broker and get more information.
There’s an auto trade feature that is only available to VIP account holders. Before jumping into the signup process, you need to ask a few questions. How does the auto trade work, and why haven’t they offered any information about it.
The auto trade option is another way of fooling investors who are loaded with money. It’s best to ask about the auto trading software before jumping in. It would be best if you asked about the accuracy, which, for no reason, the broker fails to mention.
Any broker that offers a welcome bonus has something up their sleeve. In most cases, the welcome bonus is used to block withdrawal attempts. For instance, those who deposit 5000 Euros will get a welcome bonus of 2500 Euros. When the time comes to withdraw, the broker will demand you pay back the bonus. Even if your account has a balance covering the bonus, you will have to make a new deposit. That’s how they scam investors.
Depositing funds with this broker is easy and fast. You can deposit using bank transfer, credit/debit cards, and wire transfer. Withdrawing funds with BB Group FX remains to be the biggest hurdle facing members. The broker has been active; there’s no confirmation of anyone ever making any withdrawals.
There’s no safety of funds from a broker already blacklisted by CySEC. The broker fails to meet the minimum deposit required to offer trading services. What this means for members is that the broker does not have insurance cover for deposits. If and when the broker goes bankrupt, you will lose your entire amount on the platform.
BBGroupFX is a scam that no investor should fall for. The expose will help others from falling into the same scam. We hope authorities will take stiff measures such as deleting the website. It will help prevent further misery to investors.
We won’t be recommending the use of a broker who has a warning from CySEC.
The best option is to have a proven broker by your side. Make the right decision and sign up with the best broker the industry has to offer.
We wish you a safe and transparent trading experience.
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