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BDOMarkets claims to love what they do, and that’s blocking withdrawals. However, those who have invested with the platform are ruing the decision. BDO Markets is another offshore broker trying to make a mark before exiting the scene. Unfortunately, investors and traders alike are falling victim to the platform. Our bdomarkets.com review will help expose why you should avoid the platform. Here’s our clear BDOMARKETS REVIEW for more details.
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There’s no clear background or history of the platform. And that’s a disastrous start for investors. The least the platform should have done is give us its mission and objective. For now, it seems the platform wants everyone to invest with them.
What started as a decent investment and trading platform became a fraud. Hundreds of complaints were lodged against the platform. Another problem is the people behind it remain hidden from the public eye.
Attempts to reach the platform for comment on the matter fell on deaf ears. Those who want to withdraw funds lose it as the platform shuts them out. The last attempt to withdraw funds leads to the platform shutting members out.
Yes, the platform will block withdrawals and fail to meet industry standards. These are the reasons why we insist you must stay away from the platform. Also, make sure to avoid platforms that independent reviewers flag as scams.
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Despite having an attractive web design, it’s all a roost. The platform does indeed engage clients with its enticing user interface. Going through the website is fast as all information is open to visitors.
The platform claims to be transparent and listens to people’s needs. Unfortunately, that’s not the case as the platform hides several vital information from members. You have to sign up to find out the full features of the platform.
Experts recommend doing due diligence before committing funds to any platform. A quick search of the platform will reveal what the industry sees it. The verdict is out there for everyone to see.
There are four account types furnished on the platform. These include Basic, Silver, Gold, and Platinum. Each of these accounts targets different classes of investors. The accounts also come with varying features.
Here’s a closer look at each of these accounts;
Basic
Slated for beginner traders, the minimum acceptable deposit is €250. The platform lacks several notable features from the rest. What you do get includes a market review and over 200 trading instruments. Leverage starts at 1:100.
Silver
These members must deposit a minimum of €10,000 to get started. Members get gold spreads and minimum leverage of 1:200. Other notable features include having a dedicated account manager and special venture promotions.
Gold
This account holder has a minimum acceptable deposit of €25,000. Members get platinum spreads and leverage starting from 1:300. Traders get live trading signals whose accuracy remains questionable.
Platinum
It’s the most exclusive account, with members having to deposit €100,000. Members get VIP spreads and leverage starting from 1:400. You also get private analyst sessions and prioritized withdrawals.
High leverage puts your trading position at risk. The only acceptable account to use happens to be the basic account. It follows all requirements from regulators. We must also raise issues of the high minimum deposit spreads from one account to the other.
The accuracy of trading signals is in question. These private analyst sessions are educational materials from experts in the forex field. You can get these free tutorials on the web, YouTube.
Members don’t have the luxury of trying out the demo platform. There’s none provided, which makes it interesting for newbies. As a beginner, you must test yourself and the set features using a demo account.
The platform claims to offer over 200 trading instruments. In addition, there are five classes of trading assets available on the bdomarkets.com platform. These include commodities, cryptocurrencies, forex, indices, and stocks.
You can trade commodities such as gold, copper, silver, and natural gas. In addition, there are four listed cryptocurrencies for trading. These include Bitcoin, Cardano, Ethereum, and Litecoin. Unfortunately, the platform fails to pair these against forex currencies.
Forex trading happens to be at the core of the platform’s activities. You get to trade pairs from major currencies. The base currencies include AUD, CAD, CHD, EUR, GBP, JPY, and USD. Unfortunately, you don’t get to spread risks with exotic and minor pairs.
There are four indices listed as available on the platform. These include Dow Jones, NASDAQ Composite, NIKKEI, and S&P 500. In addition, you can trade stocks from leading tech companies from the FAANG group and Tesla.
The platform claims registration in St. Vincent and the Grenadines. It’s a haven for brokers who don’t want any scrutiny from regulators. But, with such a registry, don’t expect any fairness regarding the legal framework.
We don’t know any staff members or founding members of the platform. And that makes BDOMarkets an anonymous investment platform. So coupled with the offshore factor, it makes sense to stay away from it.
Anonymous platforms are high-risk ventures as the platform can exit the market anytime. Once that happens, there is no way members will receive any compensation. Even recovery agents don’t have the power to recover funds from anonymous and offshore brokers.
There is no way funds are safe with an anonymous and offshore broker. The platform fails to get a valid license from official regulators in the industry. And that means the platform fails to deposit the minimum required amount with regulators to offer the services.
Regulators use the amount to safeguard the interests of the public. The funds are insurance cover for deposits made by members. Without it, regulators have no way of protecting members in the event of bankruptcy or closure.
The platform also fails to segregate accounts as dictated by trading laws. We suspect the owner holds all funds in one account. If he decides to exit or transfer funds, no members will get compensated.
Hundreds of clients have already lodged complaints against the platform. Most are under the impression the platform will suddenly change hearts and allow withdrawals. Unfortunately, that’s not the case; BDOMarkets is an exit scam.
You won’t find any positive reviews of the platform anywhere on the web. The platform even fails to register itself on social media platforms. That’s how the platform has gone to minimize interaction with members.
The chat option is ever offline, and members must leave a message hoping for a quick response. Members have tried all avenues, especially those with withdrawal queries. And the answer is a platform that blocks such requests.
You can only get a response if you’re asking about the platform in general. Questions such as how do I deposit and will I withdraw are what the platform responds to. Once you deposit funds, forget about it.
Please stay away from this anonymous and unregulated trading platform. Cracks have started appearing with the withdrawal blockade.
NB: Go for proven investment options that guarantee protection for members.
Do leave a comment or email us with any questions.
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