Billner Group Review: This Anonymous Platform Is Unreliable
Billner Group is an anonymous online trading platform with no license or regulation. The broker’s phone number has the US area code but do not mistake this platform for a legit American provider.
The data we found shows that this website was created relatively recently. This platform cannot be trusted and we will explain why in our Billner Group Review.
|Regulated by:||No regulation|
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Trading Platforms:||WebTrader, Desktop app|
|Trading Assets:||Forex, Indices, Commodities, Stocks, Crypto|
|Free Demo Account:||No, only live trading accounts|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds.|
Legal Info: Is Billner Group Legit or a Scam
The Billner Group Platform is not regulated. In fact, we know absolutely nothing about this phony brokerage. The single available piece of information is the US phone number. However, this anonymous website is not regulated by a financial market authority.
In the US, all brokers must be registered with the Commodity Future Trading Commission (CFTC) and the National Futures Association (NFA). Billner Group is not, which is why you should stay away from this financial swindler. Fraudulent brokers such as europrime caused a lot of damage.
Instead of trusting these scammers, we suggest you find a reliable provider with a license issued by a reputable regulator.
Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), CNMV (Spain), etc. require brokerage companies to possess a substantial minimum operating capital (i.g. 730,000 EUR or 20,000,000 USD), offer clients negative balance protection, a segregated account, and even a compensation scheme (i.g. up to 20,000 EUR).
Who Are Billner Group’s Targets?
According to godaddy.com/whois, the BillnerGroup website domain was created on April 20, 2023. Since then, the shady broker has mainly been targeting traders who live in the following countries:
Domains such as the United States and Canada are known for particularly heavy financial market regulations and rules. Billner Group is not compliant with the rules. For instance, the broker offers leverage of up to 1:200 but the legal cap in North America is 1:50.
Like FxOnUs, Billner Group also has an arsenal of deceitful tactics and tricks to entice unsuspecting traders and get them to invest as much money as possible so please be on your guard.
On trustpilot.com, there were 11 positive reviews for Billner Group at the time of this writing. However, these reviews should be taken with a grain of salt.
One trader claims that he/she has been using the platform for months but WHOIS says that the website was created in late April. Other Billner Group reviews basically use the exact same text will slight adjustments and changes.
For several months now, I have been utilizing the trading platform provided by the Billner Group, and I am pleased with it…
- Trustpilot user, July 17, 2023.
Leverage, Commissions, Spreads, Fees and Taxes
Billner Group’s maximum leverage ranges from 1:200 to 1:400, depending on the account type. This is proof that Billner Group is not a legit US, Australian or European platform since these jurisdictions have much lower limits.
As for the trading costs, i.e. spreads and commissions, the specific numbers are virtually unknown. Allegedly, traders are getting tight spreads and no hidden commissions. You know something fishy is going on when a broker does not transparently disclose the exact numbers.
Billner Group also offers bonuses. However, these pesky “awards” do not come without a cost. Like most scammers, Billner Group included an unfavorable clause in the bonus policy.
Namely, traders are required to reach “the trading volume of 250 lots (1000/4) has to be done to withdraw bonus funds and profits,” which is insane. Know that for this reason, brokers are banned from awarding bonuses in Europe and Australia.
Trading Platforms Available
Billner Group offers a desktop, mobile, and web trading platform. The former two are unknown but it is certain that the broker does not support proven and credible platform such as MT4, MT5, or cTrader.
As for the web platform, the Billner Group Login screen prevented us from viewing the terminal unless we register and deposit real funds. In general, browser-based platforms are lackluster and ineffective compared to the aforementioned trading software.
Having withdrawal issues? Please book a free consultation with our team and get your money back as soon as possible.
Mobile Trading App
The unscrupulous broker also offers a mobile trading app. This software can be downloaded on all Android and iOS phone systems.
Mobile trading offers numerous benefits and perks such as trading on the go and flexible time management. However, trading on an unregulated mobile platform is not recommended.
Available Trading Assets
According to Billner Group’s website, the broker offers the following trading instruments:
- Forex currency pairs – EUR/USD, GBP/JPY, AUD/CAD…
- Indices – S&P 500, NASDAQ 100, DAX 30…
- Commodities – gold, coffee, crude oil…
- Stocks – Apple, Tesla, Disney…
- Crypto – BTC, ETH, LTC…
Billner Group offers three different live account types:
The leverage of these accounts ranges from 1:200 to 1:400, which is high and pretty risky for trading. Account types allegedly offer more perks but concrete trading conditions such as spreads were not mentioned.
Furthermore, Billner Group does not offer a risk-free demo account, which is a red flag. The broker thus forces interested traders to open a live account right away and invest real money, only for the Billner Group to embezzle all their funds. Legit brokers always offer a demo account.
If you lost money to the Billner Group Scam, contact us for help. We can help you recover your funds.
AnyDesk and TeamViewer
Billner Group also provided download links for two apps – AnyDesk and TeamViewer. These two apps allow one user to access and use the PC of another.
Per se, AnyDesk and TeamViewer can be pretty useful but in this case, you must not download these apps. Imagine the chaos if you allow an anonymous scammer such as Billner Group access to your personal and finance-related information.
Billner Group Withdrawal Process
The Billner Group withdrawal policy says that there are two available payment methods, also used for depositing funds:
- Credit/debit cards;
- Wire transfers.
The minimum deposit requirement is undisclosed but the minimum withdrawal amount is 50 USD. The broker claims that there are no deposit and withdrawal fees for credit card payments. These payments can be revered via a chargeback, which is good news.
Key Information To Consider About the Billner Group Scam
To recap, Billner Group is an anonymous scam website with no trading license or regulation. This website was created in April 2023, offering services to traders from the US, Australia, and India.
We do not recommend you trust this broker as it is most likely a scam. If you cannot withdraw money from the platform, book a free consultation with our team and we will explain how the chargeback process works.
Credit/debit card payments can be reversed. This process is known as a chargeback and can be requested at the issuing bank within 540 days of the transaction.
What Is Billner Group?
Billner Group is an anonymous and unregulated website that offers Forex and CFD trading on desktop and web platforms.
Is Billner Group Trustworthy?
Billner Group is not trustworthy. This platform is anonymous. If you lost money to this scam, contact us for help.
What Are The Trading Platforms In The Billner Group?
Billner Group offers unidentified desktop and mobile platforms and a rudimental web-based platform.