We are talking about BizzTrade. Is BizzTrade regulated broker? Can it be a scam? Where is this broker based? How BizzTrade trades? If you are thinking about investing with this broker think twice. We would advise you to read this review because we have all the answers.
|Regulated by: None|
|Headquarters Country: United Kingdom|
|Foundation year: 2019|
|Supported Platforms: None|
BizzTrade Review: Is BizzTrade broker regulated and secure?
BizzTrade is a multi-level marketing company that is offering a return on investment also known as ROI. Brothers Rizwan and Rehan Gohar together with Gurpreet Dhaliwal started BizzTrade company in early 2019. The company was established first as Bizz Trek, just to change the name in 2020 to BizzTrade. A little bit of a bad feeling here. If the company is legit and establishing a brand, why change its name?
What you also need to be aware of is that any MLM company that offers a passive investment opportunity is in obligation to register with financial regulations and BizzTrade is not registered anywhere and yes, this means that BizzTrade is operating illegally.
In which countries does this broker work?
Broker Website is accessible from any part of the world but BizzTrade does not provide its services to the residents and companies in countries, which are currently under Sanctions imposed by UAE or under the respective applicable laws. Based on BizzTrade reviews from clients, we can say that they mostly targeted the UK and Scandinavian countries.
Is my money safe with BizzTrade? Ponzi Scheme. When things get tricky.
This broker does not offer relatable goods that affiliates can buy for personal use or sell to make some profit. The only way to make money with this broker is by recruiting new members and this is so-called the Ponzi Scheme. Which is a big no for several reasons. These schemes have a lifespan of around two years, simply because the company dies after the recruitment dies and that can happen pretty much fast. When the affiliate recruitment slows down BizzTrade will lack the revenue to pay pyramid scheme commissions and to pay ROI as well.
When the Ponzi Scheme collapses what will happen to the majority of people who invested the money? Don’t guess twice they will of course lose it. Here is how. The only verifiable revenue source is the new investments. The company uses these to pay commission to their members, because it has no retail products that can be sold.
Very low. Simply because the majority of their members are likely to fail due to the overreliance on recruiting. Let’s look at the statistics: Over 95% of MLM users fail to make any income. 60% of them don’t make any money at all, and only 5% do make some, but that still is not enough. The numbers are not lying, the majority will most likely lose their money, unlike the owners and very few members who are at the top of the pyramid. They will make a lot.
To make it short and simple, no your money is not safe with this broker (as another broker ZumaFX)
Scammed by BizzTrade? What to do?
If you were scammed by BizzTrade let us know and we will provide all the help you need to get your funds back. You know that when it comes to money, time is the key! So let’s not waste more time, contact us today!
Is BizzTrade a good broker?
No. BizzTrade is not a good broker, it is operating without a license and conducting a Ponzi scheme.
Is BizzTrade regulated?
No. BizzTrade is not a regulated company. They say that they are regulated by the FCA but their registration number corresponds with another company.
Where is BizzTrade broker based?
This broker is based in the UK.
Is BizzTrade a legit online broker?
No. It is not a regulated company and by that being said they are sure, not legit.