The Bingsaub Review Will Expose This Crypto Trading Scam

There is not much to talk about here but we nonetheless decided to do the complete Bingsaub Review and expose this crypto scam once and for all. This website is not what it presents.

Do not confuse this fake brokerage with the real BingX. If you want to learn the whole truth about the Bingsaub trading scam, keep reading. Also, we offer a solution to getting your money back if you are a victim!

What Is Bingsaub?

The most accurate answer is that Bingsaub is an anonymous website, claiming to offer a legit trading platform for cryptocurrencies. The financial swindler behind it promises hefty profits and superb trading conditions.

Nothing could be further from the truth though. The most important thing to stress here is that Bingsaub keeps pointing to some kind of connection with BingX, even using the latter’s name and logo on the website.

BingX is yet another scam broker, blacklisted by several European authorities such as the Norwegian FI and the Spanish CNMV. If there is indeed a connection between these two entities, that means trouble.

For that reason, please avoid shady unregulated brokers such as Bingsaub, BingX and FirstCapital1. Instead, find a reliable provider that operates under a reputable jurisdiction like the FCA (UK), BaFin (Germany), CFTC (US), ASIC (Australia), IIROC (Canada), etc.

What We Discovered About Bingsaub’s Regulation

In search of information regarding Bingsaub’s alleged regulation, or better yet, the name of the domain where the broker is based, we came across a short sentence in the legal documentation mentioning that all disputes are to be resolved under the arbitrage of Belize.

Could Bingsaub thus be an offshore operator based in Belize? Not really, as the Belize regulatory authority, the FSC has no data on this entity. 

This additionally confirms our claims that the Bingsaub trading scam is not regulated. There are no warnings against this anonymous website yet, meaning we must urge regulators to issue them and flag Bingsaub as a fraud.

Where Is the Bingsaub Scam Active?

When it comes to domains, i.e. countries in which Bingsaub tried to find victims, there are three in particular where the cyber con artist was active. Here is the list:

• United States;
• Germany;
• Canada.

All three of these are domains with strict regulations. Scammers are not welcome there. Especially not for anonymous crypto trading websites such as Bingsaub or Simplii Cryptos.

What Do Traders Think About Bingsaub?

Are there any complaints against the broker? You bet there are. We checked various forums such as Scamadviser and Reddit in search of other Bingsaub reviews. 

Unfortunately, it seems that the illicit broker managed to defraud several traders. Bingsaub uses the most frequent scam method – get the client to invest as much as possible, provide him with a rigged platform, cease all communication, embezzle his funds and disappear.

DO NOT TRUST THIS WEBSITE! To withdraw money, you first have to make a new transaction… The online customer service of this website never responds. It is a total fake!

– Scamadviser user, April 9, 2023.

The profit is fake. It doesn’t exist. They just take your investment and then make up numbers. They make up big profit numbers so you’re tricked into paying big fees to access it. But you can’t, because it’s not real…

– Reddit user, May 25, 2023.

What Is Bingsaub’s Range of Products?

Bingsaub offers only one trading asset class – cryptocurrencies. The platform allegedly includes all the popular coins of today, traded against either US Tether or Bitcoin:

• BTC/USDT;
• ETH/USDT;
• LTC/USDT;
• ETH/BTC; etc.

That being said, this makes Bingsaub even more dangerous and risky. The crypto market is extremely volatile, which is why you shouldn’t be trading these assets with an unregulated and dubious broker such as our little fraudster.

Trading Platform

Judging by the website content, Bingsaub offers a web-based trading terminal. There is no demo account so we couldn’t check the platform for ourselves. 

Nevertheless, our experience with scam brokers offering browser-based platforms such as AuxCapital tells us that this platform is nothing special. WebTraders usually offer just some basic charts and graphs and nothing else.

Bingsaub does not support valid third-party software such as MT4, MT5, SiriX, or cTrader, which is a huge disadvantage.  

Can I Trade on a Mobile Device? 

Yes, Bingsaub included a QR code that clients can scan using either Android or iOS system mobile devices. This link is supposed to launch the platform download process.

However, we do not recommend you download this software considering all that we previously outlined regarding the Bingsaub scam. There are many legitimate brokers that offer better services.

Is Profit Withdrawal Possible?

We highly doubt it. Even more so after reading what traders had to say about Bingsaub and how the scam works. 

Bingsaub’s withdrawal policy is vague, i.e. we could not find any info regarding the available payment methods or fees. But given that the theme of this broker is crypto, we assume that all payments are made via cryptocurrencies (BTC, ETH, USDT, etc.).

What Can Bingsaub Fraud Victims Do? – Start the Chargeback Process

Bingsaub is a foul crypto trading scam. You should avoid this financial swindler at all costs. If you are a victim of Bingsaub’s scheme, please contact us for help.

Getting your money back is possible and we will gladly help you with the whole process. Book a free consultation with us as soon as possible to go through the available refund methods. Our team specializes in using advanced software for tracing crypto transactions.

Here you can book a free consultation and find out what to do for a start.