Bullexo Review: Investigating Bullexo Scam
After receiving several complaints about Bullexo, we decided to conduct a thorough investigation into this online trading business. At first glance, the website seems credible, with numerous account types and MT5 trading options. However, our detailed Bullexo review reveals that not everything is as it appears. Check out our review for more information.
Website – https://bullexo.com/, bullexo.net
Address – NA
Warned By – Financial Conduct Authority (United Kingdom)
Bullexo: A Fraudulent Brokerage Operating Without Regulation?
Bullexo presents itself as a worldwide trading firm, offering Forex and CFD investments in 170 countries. However, upon closer inspection, it appears to be a scam. While Bullexo claims to be owned by Bullexo Inc., we discovered in their Terms and Conditions that they operate under Saint Vincent’s and the Grenadines’ laws. This is a concerning detail, as this offshore country has no regulatory body overseeing Forex and CFD brokerages.
Our research into numerous Tier 1 registers revealed that Bullexo Forex broker is an unlicensed online financial scam. Reviews of Bullexo indicate that the company is preventing withdrawals, and has low trust ratings. Our recommendation is to avoid this brokerage entirely.
Bullexo’s Deposit and Withdrawal Policies: Warning Signs to Look Out For
While Bullexo initially listed USDT as a funding method, the company has since changed its terms and conditions to only accept Bitcoin. Brokerages that solely deal in cryptocurrency payments are often fraudulent. Scammers favor cryptocurrency because it enables them to carry out their schemes while remaining anonymous. According to reviews, Bullexo seems to make depositing funds easily, but when it comes time to withdraw your money, the broker will play ignorant and ultimately disappear. Be cautious when dealing with this company.
Bullexo’s Terms and Conditions
It seems that the T&C section contains repetitive and unimportant information, with Bullexo focusing heavily on the crypto payment aspect. While AML and KYC policies are mentioned, it’s unlikely that a financial swindler would be deterred by such measures. It feels as though Bullexo included these policies to present an air of legitimacy.
Bullexo Reviews Report Withdrawal Fee Scam
Bullexo is currently under scrutiny for allegedly running a withdrawal fee scam. Clients attempting to withdraw their funds are being asked to pay advance fees for bank transfers and taxes. Unfortunately, even if the fees are paid, there have been reports of no return of funds.
When working with a brokerage, it’s important to note that they can only charge trading commissions, which are automatically taken out of your profits. Be wary if you are prompted to make any other form of transfer, such as from your bank account, credit card, or crypto wallet, as this may be a sign of a scam.
Seeking a Refund After Falling Victim to Bullexo Scam
If you have been a victim of the Bullexo scam or know someone who has, it’s important to act quickly. Offshore firms commonly vanish after stealing a significant amount of money, making it difficult to recover funds. To prevent this from happening, contact us right away to schedule a free consultation. We can commence the chargeback process before it’s too late. Don’t give up on what’s rightfully yours – let us help you fight for it.
Read about a similar scam broker – ELITE-FIRM review
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Do not trust this company unless you have money to waste.