BBanc review 2023 | File A Scam complaint

BBanc Review: Is It a Scam?

BBanc is a broker that appears to have all the hallmarks of a scam. It lacks a license, has not provided clear trading conditions on the website, and uses an MT5 that belongs to another entity. Furthermore, their bonus policy is designed to prevent clients from withdrawing their funds. On top of all that, BBanc has already been blacklisted in France.

Website – bbanc.com

Address – First Floor, First St. Vincent Ltd Building James Street, Kingstown, St. Vincent and the Grenadines

Warned By – Ontario Securities Commission (Ontario), Financial Conduct Authority (United Kingdom), British Columbia Securities Commission (Canada), Comisión Nacional del Mercado de Valores (Spain), Autorité des Marchés Financiers (France)

License and Safety of Funds

BBanc is a trademark of Primis LLC, a company registered in St. Vincent and the Grenadines, and supposedly regulated in the French overseas territory of Moheli. However, registration in St. Vincent and the Grenadines does not hold much weight in forex regulation as the financial authorities there do not regulate forex businesses. When we researched the online registry of the Mwali International Services Authority, the financial regulator on the Island of Moheli, we found no mention of Primis LLC.

Withdrawals

BBanc clients can invest their funds using credit and debit cards, e-wallets, and bank transfers. The website states that there is one free withdrawal per week, but there is no further information on commissions or disclosed withdrawal methods. The minimum deposit required is $250, and there is a minimum withdrawal limit of $100 for each request. In light of the information presented, it is strongly advised not to invest with BBanc as it is likely to be a scam.

Warning Against the Unethical Practices of Offshore Brokers

Unregulated brokers are notorious for using deceptive tactics to entice traders into their schemes and then ruthlessly taking advantage of them. One of the most common tactics to be wary of is trading bonuses offered by these brokers. These bonuses are used as bait to attract more clients and also as a way to prevent withdrawals.

While a trader’s account may be credited with a bonus on their first deposit, this is not an act of kindness on the part of the broker. Rather, it’s a trap. These bonuses and the potential profits from them are allegedly withdrawable after completing some turnover requirements. However, the trading volume requirements are often so high that even experienced traders find them impossible to reach.

Moreover, once a trader receives a bonus, it’s impossible to differentiate between the money earned from trading bonus funds and that from their funds. The broker will inevitably claim all funds as Non-Deposited and reject any withdrawal requests under this pretext. Beware of these unethical practices and only work with reputable brokers.

Have You Been Scammed by a BBanc Broker? File a complaint here

If you have been scammed by BBanc Broker, it is important to act quickly to try and recover your funds. Our team of experts is here to help you through the process and provide you with the support you need. We have years of experience in fund recovery and can guide you through the steps to increase your chances of a successful outcome.

Don’t suffer in silence if you have been the victim of a scam. Contact us today to share your story and receive the help and support you need to recover your funds.

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