Buxberg is owned by Buxberg Limited, which has the registration number 26707BC2022. This number is a part of Saint Vincent and the Grenadines’ FSA registration, where the company registered its operation in April of this year. The website of the company is found at https://buxberg.com/.
There is not a single piece of evidence to support the misleading claim that the company is located at 1 Harbour View Street, Central, Hong Kong. Both the broker nor the company are not registered in this nation, nor does the broker have an HKMA regulation. All that remains to be said is that Buxberg is a tried-and-true offshore operation trying to pass itself off as something else. Read a complete Buxberg review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Buxberg Review – How safe is to invest here?
Buxberg has a Hong Kong address, but the broker explicitly notes that it is registered in St. Vincent and the Grenadines and does not claim to be licenced or even registered there. In recent years, scam brokers have made this nation one of their preferred travel destinations. For starters, while the local financial regulator, SVGFSA, keeps an eye on the banking industry, it does not control forex brokers, apply trading-related rules, or hold brokers accountable for their deeds. Second, since local businesses are not required to provide transaction reports, money sent to such offshore sites is typically untraceable.
Without access to a platform or a client area, we would have to take the broker’s website information on trading conditions at face value. Buxberg’s $2500 minimum deposit requirement is outrageous when you consider that many top brokers only require opening a trading account with $100 or less, and occasionally even just $1.
Although it is lawful for an offshore broker to offer such leverage and Buxberg claims to be able to provide access to a maximum of 1:400 leverage, we still caution you to exercise caution. Trading at such high rates has the potential to produce both greater earnings and greater losses, although the latter is significantly more likely if you are a new or inexperienced trader. Because of this, you ought to set leverage at a rate that you are confident you can sustain.
How does Buxberg Scam Work?
Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.
They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is Buxberg broker Legit or a scam: Conclusion
It is clear from the Buxberg review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from Buxberg and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by Buxberg? Scam Helpers can help
If you are a victim of the Buxberg scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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