Buxberg Review – How Buxberg.com Scam Their Clients?
Buxberg is a brand of Buxberg Ltd, allegedly based in Hong Kong. Since we hadn’t found a regulation number, we immediately suspected this story and started investigating the case. No, Buxberg is not regulated, and no, it’s not a Hong Kong-based brokerage.
Read this Buxberg review and you will understand it all.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Buxberg Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||Forex, commodities, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||No|
Buxberg Signs Of Fraud
Buxberg is owned by Buxberg Ltd with registration number 26707BC2022. This number belongs to the FSA register of Saint Vincent and the Grenadines, where the firm registered its business in April this year.
Despite false claims to be based at 1 Harbour View Street, Central, Hong Kong, there’s not a single proof of this statement. The broker doesn’t have an HKMA regulation, nor is the business registered in this country. All we can conclude is that Buxberg is a good old offshore scheme trying to pretend to be something else.
How Unsafe Is An Unlicensed Broker?
Saint Vincent and the Grenadines don’t have a financial regulator. Thus, if a broker has headquarters in this offshore country, it’s a clear indicator that it’s avoiding regulatory supervision.
Trading with offshore and unregulated brokers can do more harm than good. You have no money-back guarantee and no idea if you will ever be able to get a withdrawal.
Is Buxberg a Legit Broker or a Scam?
Buxberg is not a legitimate brokerage. The company is based offshore and has no valid financial regulations. It falsely claims to be based in Hong Kong.
Traders Reviews About Buxberg
Since Buxberg falsely represents itself as based in Hong Kong, many investors were lured into investing based on false pretending. After they have been scammed and filed a complaint, they have learned the truth about the firm.
This broker doesn’t approve any withdrawal requests, and getting the money back is nearly impossible. If you find yourself a victim of the Buxberg scam, report it immediately.
Buxberg Trading Software – WebTrader Platform
Buxberg claims to offer a WebTrader that’s user-friendly, full-powered, and easy to use. However, after we tried signing up, we were informed that we didn’t have the correct referral code. This means that we cannot verify if there is a platform and all customers have to have a conversation with the broker’s employees before signing up.
If you want to start trading, never settle for web-based software. MetaTrader is the most powerful trading platform with the largest number of charts and indicators. Find yourself a legitimate broker with MT4 or MT5 and secure your funds.
WebTrader Mobile Version For Android And iOS
Allegedly, there’s a mobile app for Buxberg Android and iOS apps. Since we don’t have access to sign up, we cannot confirm it.
All About Buxberg Accounts
If you’re still interested in trading with Buxberg, which we highly doubt, here’s a trading account overview.
- Beginner – $2,500
- Standard – $5,000
- Intermediate – $25,000
- Advanced – $50,000
- Integral – $100,000
- VIP – $250,000
Accounts differ in swaps, spread, market coverage, and access to private support.
Also remember the names of the AreaTrading, Clearpoint Capital and Weltex trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Opening An Account With A Referral Code
As mentioned, if you want to create an account, you must do it with a referral code. Usually, it means that you have to chat with the broker’s employees, who will evaluate your financial situation and pressure you to invest right away. It’s just another way to get ahold of you and tell you false information.
Does The Broker Offer A Demo Account?
Buxberg doesn’t offer a Demo account, so every customer must invest the money first and then gain access to the trading platform.
Buxberg Broker – Countries Of Service
The firm is a relatively new broker, operating since April this year. Most complaints come from:
Buxberg Range of Trading Instruments & Markets
Buxberg offers a limited range of trading instruments, including:
- Forex – EUR/USD, CAD/USD, USD/JPY
- Commodities – gold, corn, silver
- Indices – NASDAQ, FTSE100
- Shares – Apple, Amazon, Google
There are no cryptocurrencies.
Customer Support – Live Chat
Buxberg has a live chat option, allowing all potential and existing customers to get their answers. However, these people will insist that you leave personal information, including a phone number, and be contacted by one of their employees. They won’t confirm the minimum deposit or provide you with a referral code before getting your details. It shows us that this support does not actually support, but is another way for the broker to get ahold of client’s personal details and harass them until they finally invest the money.
Rather High Minimum Deposit
According to account types, Buxberg’s minimum deposit is $2,500. It’s ten times above the industry average and about 250 times higher than Micro accounts of legitimate firms. There’s no reason to pay so much money to a fraudulent broker. You’re risking losing it all.
Buxberg Trading Conditions
Buxberg didn’t disclose too much information about trading conditions.
About Leverage And Spreads
The leverage is unregulated and goes up to 1:400. If the firm was really based in Hong Kong, it would have to follow HKMA rules and set a limit of 1:30 for the Forex market and even lower leverage for other assets.
Spreads, fees, and swaps are not disclosed, so the firm expects you to invest without knowing the costs.
Buxberg Deposit, Withdrawal Methods, And Fees
While the deposit and withdrawal methods were not mentioned anywhere on the website, we saw several warning clauses. The broker says it has “the right of discretion to alter the imposed fees if deemed necessary, and you consent that your continued access and use of our services affirm your acceptance of such alterations.” Basically, the company can change swaps, rollovers, and commissions without notice, and if you use the website by accident, it’s considered acceptable.
Besides, there’s a clause that you cannot file for a chargeback if you have used any of the company’s services, including the trading platform, client area, news, and signals, or executed any trades. We’re no lawyers, but we’re pretty sure that this clause is illegal.
Scammed by Buxberg Broker? – Let Us Hear Your Story
If you fall victim to the Buxberg scam, let us know. Our chargeback specialists will be here to hear you out and help you file a dispute.
But What Is A Chargeback?
A chargeback is a way for the bank to recover funds from the merchant in case of fraud. Consult with our team of experts during a free consultation to find the best way to file a dispute right away.
What Is Buxberg?
Buxberg is an online trading brokerage without a valid financial license.
Is Buxberg a Scam Broker?
Yes, Buxberg is an offshore scam broker without a valid regulation.
Is Buxberg Available in the United States or the UK?
Buxberg is available in the UK but not in the US.
Does Buxberg Offer a Demo Account?
No, Buxberg broker doesn’t offer a Demo account.