Taking a brief look at BSB-Global broker, we noticed that the website had been shut down, and the broker had terrible reviews by traders. We decided to expose this scheme and check out which options traders have if they’ve been scammed.
Read our BSB-Global review, and let’s find out.
|Broker status:||Offshore Broker|
|Regulated by:||No regulation|
|Scammers Websites:||www.bsb-global.io (inactive)|
|Blacklisted as a Scam by:||FCA|
|Owned by:||Lotens Partners Limited|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, commodities, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||No|
BSB-Global Regulation and Security
BSB-Global listed itself as a brand of Lotens Partners Ltd from Saint Vincent and the Grenadines. It means that the company should have an FSA regulation. But even with it, it cannot provide financial services. The SVG has a strict policy stating that FSA regulation means the broker is registered but should opt for the regulation in the countries where it provides financial services.
However, since BSB-Global hasn’t done such a thing, it’s not a secure nor legitimate brokerage.
Warnings From Financial Regulators
Being a scam broker always carries certain risks from being exposed. If you defraud too many people and they report about it, eventually, the broker will be blacklisted. It happened to BSB-Global in the UK. The Financial Conduct Authority published an official warning against BSB-Global brokerage as an unregulated scammer.
Fund Withdrawal Issues
Since BSB-Global is an unregulated brokerage, clients are going through hell trying to get their funds back. Since you made a payment from your bank, you might be thinking that bringing it back should be a no-problem task. However, the situation is a bit different. The merchant company is doing anything in its power to show you are the one who approved the transaction. On the other side, the brokers of BSB-Global are doing everything from their side to prevent you from accessing your funds since it means less funds for them.
If you were scammed by BSB-Global and had no possibility of getting your money back, contact us immediately.
For example, if you check Trustpilot, you will find the BSB-Global trust index to be 1.9/5, rated as poor. Again, when you have all the information mentioned above, for sure, you know why it happened. Clients are stating that they cannot withdraw their funds, that brokers are sending them from one person to another, just for the communication to stop completely. In the end, clients cannot even reach the company since employees are blocking the number of the most persistent ones.
Do not allow yourself to fall for such a fraud.
How Does Online Trading Scam Work?
Unregulated scam brokers have their way of befriending clients and building trust. For a start, you are being asked to invest only the minimum, you are constantly in touch with the same broker, and this broker is pretending to care for you and your funds. Since most of these companies, such as BSB-Global, use only a web trader, they have access to your trades. At the start, they are changing everything to your favor, making you think you earned thousands. After you see it and relax a bit, you’ll be prompted to invest more money. And more.
It will stop only when you ask for the money back. Then, as described, you won’t be able to contact the company again, nor get your money back.
Scammed by BSB-Global?
We can assure you that you’re not the only victim of the BSB-Global scam. Our team recently received numerous complaints about the broker, all stating that BSB-Global is a scam company stealing funds. What to do? Request a chargeback.
But what is a chargeback? It’s an action taken by your bank to refund your card in case you were scammed. Contact our support via chat and get all the details about the process immediately.
What is BSB-Global?
BSB-Global is an online trading brokerage without regulation based offshore.
Is BSB-GLOBAL a scam?
BSB-Global is a broker warned by the FCA with a poor trader’s rating.
Is BSB-GLOBAL regulated?
BSB-Global does not have a trading regulation by any regulatory body.