BFX International (Bfxinternational.com) is a CFDs, Crypto Currency and Forex scam platform defrauding members who sign up. BFXInternational is claiming to be a broker with years of experience. After receiving numerous email complaints from member who lost funds, we decided to investigate. What we found was shocking as this broker is another fraudulent online. To know more about the scam tricks used, we suggest reading this detailed BFX INTERNATIONAL review.
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After receiving numerous email complaints for two weeks running, we headed over to their sit. Landing on their homepage, we noticed why so many newbie traders have fallen for this broker. Scam artists have made a living by stealing from unsuspecting online investors. What they normally do is create a visually compelling website. These scammers know for a fact we all want to make a quick buck or two. And this is why they post fake claims and promises all over their website.
By investigating this broker, we found a lot of anomalies with their platform. Posting empty claims and promises is what they are good at. How can they claim to have experience and the website is barely a year old? These are some of the tell signs we are dealing with a rogue broker. Some of the trading features they claim to have are inaccurate or don’t work at all. BFX International is trying to get as many newbie traders as they possibly can. After these traders make deposits, this is when their true colors show.
BFX International is claiming to have experience in Forex trading, who are the founding members? It’s clear they have hidden the real names of the people running this website. How can a broker fail to disclose the people running the day to day activities of this platform? As it turns out, BFX International is a scam broker who is anonymous and can’t be traced. BFXInternational is a classic example of why dealing with anonymous brokers is risky.
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Checking the registrar of companies, we found no results of any company with this name. What these scammers have done is simple. Come up with a random name as their trade name. These are professional scam artists who con online investors for a living. Partnering with any anonymous online brokerage firm is a problem. For all we know, BFX International is based offshore which is an even bigger problem. There’s no way of recovering fund deposited to this site.
Another disturbing feature with this broker is how they fail to disclose any licensing documents. Their homepage does not have any details regarding license and registration. It means these brokers went ahead and offered Forex trading services without registering. What this points out is negligence on the part of the broker. Stay clear of this broker and at all times check whether a broker is dully licensed. An unlicensed broker is also bad news to investors.
Searching through records, we found no results of BFX International ever being registered. Some of the well-known regulatory bodies we checked included CySEC, FCA, NFA, and others. If these regulatory bodies have not issued a broker any license, it means the broker is illicit. Where have they posted their licensing and registration documents? With a homepage which doesn’t have a legal agreement page, BFX is a fraud. Stop opening an account with this broker.
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Depositing funds with BFX International is easy and quick. And this is an advantage to the broker in question. Depository channels include Bank transfers, MasterCard, Visa, and others. Why is it easy to deposit funds with this broker? After making deposits, these scam artists laugh all the way to the bank. They know you have already fallen for their fake platform. Wait, there’s more to this broker than you think.
Withdrawing funds with this broker is next to impossible. What these scam artists do is block the accounts and impose heavy restrictions. Trying to contact them proves futile as the broker usually goes underground. And since they are offshore brokers, tracing their whereabouts remains a problem. Stay clear from these brokers who are based offshore for security reasons.
BFX International is advancing five different account types to choose from. These account types are named Discovery, Silver, Gold, Platinum, and VIP. Has the broker mentioned any minimum depository requirement? NO, and there’s a good reason for this. Scam brokers will ask for different minimum deposit to different clients. Even novice traders might be asked to deposit over $10,000 for the simplest account type. Industry recommended minimum trading requirement is set at $250.
Another pestering issue we found with this broker is accounts share same features. Looking carefully, notice how these accounts offer users same advantages? What these scam artists have done is hope no one takes notice of their hidden agenda. Their end game is to trap all kinds of investors into any of the five accounts. Having an account manager is not helpful. They also go quiet when members ask for withdrawals. It’s time to move on and get a better Forex broker.
Speaking of brokers, foremost industry Forex brokers are what you need for a successful trading experience. Signing up with Forex brokers with a known and solid reputation is taking the first step to success. By having principles brokers, your trading experience becomes easy and safe.
Safety of funds is not guaranteed by a broker who lacks licensing and registration details. How else can you explain the lack of proper details concerning handling of funds? A good question to ask is where do they bank money deposited by investors? Is it possible investors are bankrolling the personal account of this broker? These are some of the questions we need answers to.
Another distracting issue with this platform is segregation of account or lack of. Accounts are not segregated as the Forex rules dictate. It means BFX International is integrating all assets under one account. All assets stored in one singular account will be easily. Chances are, no member will be compensated. After all, BFXInternational does not insure any funds deposited by members.
After retrieving all the information above, it’s clear BFX International is a certified scam. Make sure to stay away from this broker and ignore all their promotional materials. In case you receive calls from their call agents, don’t give out your personal details.
Adding this broker to our scam blacklist will protect our readers from falling into this trap. Make sure to warn your friends and family from signing up with this broker.
Finally, wishing you all the best in your trading experience.
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