Is Buxberg a scam or legit broker? Read Buxberg Review
One of the most recent CFD trading platforms to catch our eye is Buxberg. It is a brand of Buxberg Ltd., which is situated in Hong Kong. You can visit it at https://buxberg.com. We looked into this broker and found that Buxberg is not licensed and is not a business in Hong Kong.
Buxberg Ltd., which has the registration number 26707BC2022, owns the business. The company is registered in Saint Vincent and the Grenadines, and this number is associated with the FSA registry there.
There isn’t a single piece of evidence to support the misleading assertion that the organization is headquartered at 1 Harbour View Street, Central, Hong Kong. The broker is not governed by the HKMA, nor is the listed company there. All that remains to be said is that Buxberg is just another offshore scam trying to pass itself off as a different entity.
Saint Vincent and the Grenadines lack a financial watchdog. So, it’s clear that a broker whose headquarters are in an offshore country is trying to avoid government oversight.
Dealing with unlicensed offshore brokers can be more hazardous than beneficial. You have no chance of getting your funds refunded and have no clue when you’ll be capable of withdrawing them.
The Financial Services and Markets Authority (Belgium) placed the broker on a blacklist for providing financial services without a license. It is yet another sign to avoid this broker.
Possible scam activities of Buxberg
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Buxberg review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Buxberg Reviews and Complaints
Buxberg has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
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Buxberg Review: Conclusion
To begin with, Buxberg is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging Buxberg as a possible scam in this Buxberg Review. Are you planning to trade with Buxberg and invest your money? Report Scam suggests you to read this Buxberg Review first.