Balansfx80.com Review – All The Disadvantages In One Place
Nowadays, it’s very easy to determine if the broker is legit or not. Especially for the ones that don’t share any ownership details. Like BalansFX80.com broker.
Not only that but there are many more irregularities found on their website. Stay tuned to our BalansFX80.com Review to know the truth about this broker.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||FC Hong Kong|
|Registered In:||UK (allegedly)|
|Trading Platforms:||Web trader|
|Trading Assets:||BTC, Forex, Commodities, Indices|
|Free Demo Account:||Not Available|
|How To Withdraw From This Company?||
The only way to withdraw money from scammers is by alternative methods. You can use either a chargeback or some advanced options that our experts have. Contact us for more details.
Legal Info: Is Balansfx80.com Legit Or A Scam?
One of the key warning signs is the address that the company promotes on its website. It is the UK address that is making our lives easier. Firstly, we are checking Tier 1 registers like FCA, but also ASIC and BaFin.
However, the results were as expected. The broker is far from regulated. In fact, if they had any licensing they would proudly present it. On the contrary, the broker was slapped with a warning from Hong Kong Financial Commission.
Who Are Balansfx80’s Clients?
On the positive side, the BalansFX80.com scam broker is exposed in less than 4 months of existence. Still, they claim to be an award-winning broker. Thus, clients that were scammed wouldn’t say so. Those are mainly coming from:
- United Kingdom
In case your country is not on the list, feel free to update us in the comment section. After all, we can guide you through the refund process. You just have to send us a message.
Leverage, Fees, Spreads and Commission With Balansfx80.com
Everything about this broker seems so fake. The only thing we can believe is the leverage of 1:500. However, without negative balance protection, it’s quite a risky option. Surprisingly, the company promotes different spreads for different account types. But most likely, those are far from true.
Above all, the company doesn’t reveal any commissions or fees. Especially not the ones regarding withdrawals. But nothing more is expected from a broker that hides legal documents.
Another huge warning sign is a welcome bonus. Generally, these are banned all across Europe. Mostly because brokers are misusing policies to scam traders. In this case, you can get a 30% bonus. Thus there’s an option in the conditions for a broker to cancel it at any time.
Balansfx80.com Trading Features
Obviously, all the features BalansFX80 scam broker offers are fake. As for the trading software, they use proprietary web trader and desktop trader. But have in mind that the software doesn’t define a broker as reliable. For example, the broker in FirewoodFX Review has MT4, yet it’s considered a scam broker.
Is Balansfx80.com Legit?
Definitely not. Without transparent legal documents, licenses and conditions you can expect many issues. On top of all, the company is lying about the official address. Mainly because they want to make themselves look legit.
Available Trading Assets
As for the trading assets, the company claims to offer all 5 major classes. Thus, the stocks are not mentioned in their spreads lits. Unless you register, you are unable to check it. Anyway, it consists of:
- Currency pairs USD/EUR, GBP/JPY
- Commodities gold, silver
- Indices DAX30, FTSE100
Different trading accounts can only bring you better spreads. At least the broker claims so. But that’s all you know about the conditions you get with other account types. Also, the minimum deposit requirement is not available. Anyway, your options are:
Mobile Trading App
In fact, there is a dedicated mobile app for iOS and Android users. However, only with 1K+ users on PlayStore. Instead, you can opt for a licensed broker with third-party software and 10M+ users.
As a huge downside, the company doesn’t offer a demo account. But for a broker hiding all the details, it’s not surprising. Anyway, it would be a good starting point. But that’s why experienced traders stick to licensed brokers.
Education with scam brokers is generally a science fiction. This broker doesn’t offer any and you can only get a few technical tools for assistance. But if you are looking for live sessions, webinars or other materials, you have to look elsewhere.
Without a transparent withdrawal policy and funding methods, you can forget about withdrawals. Even though they claim to accept cards and wire transfers, most likely the only accepted method is Bitcoin.
Be aware that scam brokers often use scam crypto exchanges where you still use a card, but you are purchasing crypto. This way, the transaction is irreversible and untraceable. After all, the company doesn’t reveal withdrawal processing time or fees.
The only way to contact BalansFX80 support is through the online contact form. Also, there’s a WhatsApp group but you can easily get kicked out of those. Practically, there’s no guarantee that the broker is going to respond to your requests. Also, they don’t reveal working hours. So, prepare your nerves.
Key Information To Consider About Balansfx80.com?
In the first place, the company is not regulated. If they are doing anything legitimately they would have at least one license. Yet, they don’t. Also, many details about the broker’s offer are hidden. Primarily, legal documents and withdrawal policy.
Generally, everything is designed to suit them, not you. If you experienced any irregularities feel free to share them with us. Ultimately, our team can advise you on further steps towards funds recovery. Get in touch today to start the process!
What Is BalansFX80 com?
BalansFX80.com is an anonymous Forex and CFD broker falsely presenting itself from the UK.
Is BalansFX80 com Safe?
No. The company operates without regulations. Most likely you won’t be able to withdraw money from them. If that happens, contact us immediately for refund advice.
What Are The BalansFX80 com’s Products And Services?
The company offers FX and CFD trading services on a proprietary platform. They also claim to offer MT5, but there’s no demo account to confirm it.