BNBtgroup Review – Anonymous Firm Operating In Europe
BNBtgroup is an online trading firm established this year. Yet, we don’t have any basic information, which is an immediate red flag. Our investigation showed that you could not trust this unregulated website with your money. Keep reading the review, and you’ll see everything.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Types of Assets:||FX, commodities, shares, indices, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About BNBtgroup Regulation?
BNBtgroup, a.k.a. Bull & Bear Trading Group, is an anonymous firm that hasn’t disclosed the owner, headquarters, or legal jurisdiction. Usually, scheme firms based offshore hide these details so that they can scam as many people as possible and vanish.
Why Must A Broker Have a License?
If you want to ensure that your broker won’t disappear with your funds or simply declare bankruptcy, you need to find a licensed firm. Tier1 regulators obligate Forex companies to have significant compensation funds precisely for this situation.
BNBtgroup has no license with FCA, ASIC, BaFin, or other authorized bodies. Be careful as you may easily become their next victim.
Traders Reviews About BNBtgroup
BNBtgroup published its own Trustpilot link on the website, as they wrote the majority of reviews themselves. New brokers tend to do it, but sooner or later, the truth comes out. If you check several latest reviews, you will see they’re all negative. Here’s just one example.
“I really do not know where all these good reviews are coming from but to me it is all scammers as you can not withdraw money by yourself and when asked to them to do it for you, they refuse to do it!
Talking about showing the proof- we can not as its done over the skype, or whatsapp or telegram…
Be aware of scammers people”– Trustpilot Customer
What Platforms Does BNBtgroup Offer? – Available Trade Software
BNBtgroup offers a proprietary WebTrader. Allegedly, the platform comes with “built-in advanced indicators and charting.” However, there’s a lag when creating an account, requiring you to contact the support team. Since we were unwilling to discuss anything with the scheme firm, we will not elaborate on the matter further.
We have to say that if you want to trade, you better find yourself a regulated firm offering MT4 or MT5.
BNBtgroup Platform For Mobile
The broker advertises a mobile app for Android and iOS, but again. Without access, we cannot confirm or deny it.
All About BNBtgroup Accounts
BNBtgroup has 3 account types:
- Bronze – $250
- Silver – $3,000
- Gold – $10,000
Accounts differ in the initial deposit, leverage, dedicated account manager, etc.
Does BNBtgroup Have A Demo Account?
Unfortunately, BNBtgroup doesn’t have a Demo account, so we couldn’t verify many facts they stated on the web page.
Countries Where BNBtgroup Operate
According to complaints and comments, the broker mainly operates in:
BNBtgroup Range of Trading Instruments & Markets
If we trust its website, the broker provides access to five major markets:
- Currency pairs
Again, we cannot confirm this.
About BNBtgroup Trading Conditions
The broker advertises 0% commissions and fees, while the spread cannot be found on the website. Since the platform is not available, we cannot verify it this way either. However, charging no basic fees is a bit suspicious since legitimate firms profit from those. Therefore, if a broker charges nothing, it’s obvious they’re about to steal your money, as it’s the only way to earn something.
BNBtgroup’s leverage is exceptionally high, going up to 1:300. The UK and EU regulators have set a limit to up to 1:50 for the Forex market and only 1:2 for crypto. Saying this, you can already see that BNBtgroup offers 6 times more, exposing your funds to high risk.
High Leverage – Why Is It Dangerous?
The leverage increases your buying power and your chances of profiting from the market. However, if the trade goes wrong, you’re losing several times more than you invested. For instance, with the leverage of 1:300, you can earn 300 times more than you invested or lose the same amount. And that’s not something you want or can afford.
BNBtgroup Bonuses As A Way To Keep Your Funds
BNBtgroup offers bonuses with a ridiculous Bonus Policy. The firm requires you to repay the bonus amount divided by 4 in lots if you want to submit a withdrawal request. Suppose you got a $100 bonus; you have to repay 25 lots, which is $2,5 million, before being eligible to get your money back.
BNBtgroup Deposit, Withdrawal Methods, and Fees
The broker accepts credit cards and wire transfers as the only payment method. If you want to withdraw your profit, you need to use the same method as for depositing the funds. Allegedly, there are no fees for deposit and withdrawal, but we’re back to the story above. If the company charges no fees, the only way for it to make money is by taking your entire deposit.
Scammed by BNBtgroup Broker? – Let Us Hear Your Story
If you find yourself scammed by BNBtgroup or any similar brokerage, let us know. Our chargeback specialists may be able to assist you with the refund.
But What Is A Chargeback?
This is a way for your bank to recover the funds from the merchant. Don’t waste time; submit a dispute now, and let’s recover what belongs to you before this scheme firm vanishes.
What Is BNBtgroup?
BNBtrgoup is an online trading firm without a license. You don’t want to risk your funds being involved with such.
Is BNBtgroup a Scam Broker?
BNBtgroup operates without a license, from an unknown country, and hasn’t specified legal jurisdiction.
Is BNBtgroup Available in the United States or the UK?
BNBtgroup is available in both the UK and the US without a license.
Does BNBtgroup Offer a Demo Account?
No, BNBtgroup doesn’t offer a Demo, only Live accounts.