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BuzzyTrades Review: A Phony Forex Platform

BuzzyTrades Review: A Phony Forex Platform

BuzzyTrades claims to reside in the United States and also offers Binary Trading. That was the first red flag we spotted as Binary Trading is prohibited in the States. If you trade binary options in the States, it must be with a regulated exchange. The exchange has to get a valid license from the CFTC or the SEC. Buzzy Trades does not offer any proof of oversight from the two regulators. Here’s our complete BUZZYTRADES REVIEW.

About BuzzyTrades

BuzzyTrades Review

The platform claims to be a world-leading trading exchange platform. Truth be told, it’s not. We believe the platform is a clone, and the design is similar to other binary fraudulent platforms. What we do know for sure is that members are losing funds right, left, and center.

BuzzyTrades does not allow new members to withdraw funds. Instead, it’s been seen as a way to keep the members and ensure they continue depositing. And this is the dilemma facing several investors on the platform.

Newbie investors are swayed by the enticing web design. We have to give props to them for creating an engaging website. The platform offers easy navigation to all their products and services. Sadly, you won’t find any information on accounts and compliance.

As an investor, you need to invest with proven platforms tested by industry experts. And this is why we recommend investing in Coin staking, DeFi, and Masternoding. These are groundbreaking ways you can invest and earn realistic returns.

For those who have already signed up with Buzzy Trades, we can only feel sorry for them. There’s a lot of complaints from members who have already lost hope with the platform. Without any withdrawal, there’s no point in investing with the platform.

Before committing funds to any platform, you need to do due diligence. Make sure to check with other investors about the possibility of fraud. One way to do research is by reading our reviews on all matters relating to crypto and forex investments.

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Accounts BuzzyTrades

BuzzyTrades does not mention any account type on offer. As a result, we don’t get to see the available deposit amount of account features. And this means the platform is taking advantage by asking for any amount.

You should ensure investing means something to you. Go for platforms that offer enticing packages. No one knows the set leverage or spreads available on the platform. You have first to sign up and deposit funds before knowing the full features.

Imagine depositing $1,000 and getting the same account features as one who deposits $100. It’s completely unfair as you should get better features for higher amounts. Unfortunately, Buzzy Trades does not believe so and is silent on available accounts.

Assets and trading instruments

BuzzyTrades Trading Instruments

The platform offers five classes of trading instruments. These assets include Binary options, cryptocurrency trading, ETFs, Forex, and Stocks. For binary options, you get a no or yes proposition.

You get CFDs on Cryptocurrencies with the platform failing to mention available cryptos. We believe the platform offers Bitcoin, Dogecoin, Ethereum, and Ripple pairs. You also get ETFs in the form of bonds, gold bars, and stocks.

Forex trading is by far the best form of investment for professionals. Unfortunately, BuzzyTrades fails to mention the available currency pairs. From what we’ve seen, the platform offers exotic, major, and minor currencies.

You can expect to get FAANG group shares on the platform. Other leading international companies shares trade include Alibaba and Samsung. Unfortunately, the platform fails to mention leverage, lot size, or spreads available.

Available Trading Platform

Another missing feature you have to find out after signing up is their custom-built platform. Buzzy Trading fails to mention they are using a custom-made platform. The problem with such platforms is they fail to live up to expectations.

We recommend using reliable trading terminals such as MT4, MT5, and SIRIX. With a custom-built platform, there’s no telling the vulnerabilities. As a result, the platform could be slow at executing trades or unstable.

Business holder

As far as who owns or runs the platform goes, the platform remains silent on it too. So we don’t know who owns or runs the platform. And this makes BuzzyTrades completely anonymous. With anonymity comes the risk of losing funds in an instant.

Despite claiming to reside in the United States, their address is phony. Hundreds of negative reviews on the residency can be found on Trustpilot. It would be best if you stayed away from anonymous and offshore platforms as they offer no security guarantees.

BuzzyTrades License and Registration

Is Buzzytrades.com Licensed or registered?

Buzzy Trades is not a licensed entity, and the CFTC and SEC don’t recognize it. There’s no attempt from the platform to show compliance. Without any regulatory framework, the platform is free to do as they please.

If Buzzy Trades were a regulated platform, they would happily post copies of their license. You would also see their name appear on the regulator’s official page. But, unfortunately, it’s not the case as Buzzytrades.com is unregulated.

Go for platforms regulated by official governing bodies. These bodies include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, FINMA, and the NFA. With a platform regulated by these institutions, your safety is a guarantee.

Client testimonials

To make the platform look appealing and successful, they post several testimonials. You read about the success of investors trading on the platform. What most of you might fail to see is the glaring red flag.

None of the testimonials have any face you can put your mind on. The platform only writes the testimony to compelling naïve investors into depositing funds. We have seen this type of client testimony used to paint the platform as successful.

Contact and customer support

Although there’s a chat tab, we believe they are using it to harvest data. First, you have to input your email for them to respond. Afterward, you get bombarded with promotional emails from products you haven’t subscribed to.

We believe Buzzy Trades is selling its email listing to affiliate marketers. And this means the platform does not respect the privacy of users. It’s a shame they are using their platform to sell personal information to third parties.

Deposit and withdrawal process

You can only deposit via bank and wire transfer. Despite claiming to offer crypto trading, there’s no crypto depository or withdrawal option. Once you deposit funds with the platform, your balance will reflect within 24 hours.

And this will give you the impression you are on the right track. You will even get the chance to trade and see your account balance rising. When the time comes to withdraw, that’s when all hell breaks loose.

You don’t get the chance to enjoy your winnings. Instead, members are getting an email claiming the platform is processing their withdrawals. You might receive the email for three consecutive weeks before losing hope.

Fund Safety

Safety of funds with Buzzy Trades

Your funds are far from safe with an anonymous and unregulated platform. The platform does not deposit insurance funds with regulators. And this means any deposit made to Buzzy Trades does not enjoy insurance cover.

You also don’t get any information on withdrawal fees or how long it takes to process withdrawals. And this is the reason why we must expose the platform and protect naïve investors.

Why we don’t recommend BuzzyTrades

Here are the reasons why we don’t recommend using Buzzytrades.com

  • A lack of any compliance or regulatory framework
  • Contact and support is minimal
  • Delays in withdrawing funds
  • Unknown trading platform that is unstable
  • Security of funds.

Now you know the risks that come with investing with Buzzy Trades.

Become a successful investor by using reliable and convenient investment platforms. These platforms guarantee security and a chance to make realistic returns.

If you have any queries, leave a comment or write to us.

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