Bexplus Review Is Bexplus.com A Legit Broker Or Scam

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Bexplus Review: Is Bexplus.com A Legit Broker Or Scam?

Bexplus.com Review: this is the name of a Forex broker with unclear information about its location. Is Bexplus legit or a scam Forex broker? Before you decide to trade with this company, read this review to learn about the dangers associated with it.

We start our reviews by checking if the firm under scrutiny is properly licensed in the location where it operates. For this brokerage, we do not find any mention of a location nor a license or registration. This means we are dealing with a company that has neither of this. The page is largely anonymous when it comes to corporate information.

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Most times, this is not an oversight but a deliberate ploy to leave it out. We see through this façade and warn our readers that Bexplus is not to be trusted. As an unlicensed company, there is no commission regulating their activities. They can act in any manner and most times get away with it.

Advantages of Bexplus

They claim to off a generous leverage. Also, there is something called Bi-directional profit promised that helps to control risk of investment. The website mentions highly secured accounts with tight security measures in place. Even beginners are advised to join the service and make profit.

It is common for brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Bexplus Trading Platform

The trading platform that clients of Bexplus use is not mentioned. We discourage traders from using web-based trading platforms and instead opt for brokers offering either MT4 or MT5. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not mentioned and we only come across mention of cryptocurrency. It may not be of advantage to traders who are used to trading other assets. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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Maximum leverages offered is 1:100 and while this may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are announced and we find this discouraging.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Bexplus

There is no mention of the means by which deposits and withdrawals are to be made for trading with this company. This is discouraging because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is not mentioned and we find it impossible to tell if it is within the obtainable average of $100 – $250 among brokers or not. Withdrawal fees are not mentioned and it is stated that there are no commissions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading bonuses are offered and we find this shady. Withdrawals are restricted with crazy trading conditions when bonus is involved.

Is Bexplus Licensed?

No. There is no address nor mention of a commission under which Bexplus is licensed. We then conclude that this broker is not licensed. We advise our readers to always avoid unregulated brokers because they have no obligation to keep your funds safe.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

There is also mention that the CNMV of Spain have warned their citizens not to trade with this broker.

Support

To get in touch with the company or get support from a customer care representative, send an email to: [email protected]

Conclusion

Bexplus have been proven to be an unlicensed and unregistered broker. Also, there is a mention of the firm being blacklisted in Spain. It leaves out important details on the website and makes it difficult for us to tell if they are good or not. If you have anything to add to this cryptocurrency broker review, do so via the comment section.

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Bexplus Review – is bexplus.com scam or a good crypto CFD broker?

Bexplus is a shady cryptocurrency CFD broker that could be taken for an exchange. The entity behind it remains anonymous, but is is allegedly registered in Saint Vincent and the Grenadines with the headquarters Hong Kong.

Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with Bexplus.

No company name, no legit license

As mentioned above, we did not come across any company name, nor explicitly-stated regulation on the Bexplus’s website. That shouldn’t be a surprise, since the authorities in St. Vincent and the Grenadines do not regulate online financial services providers.

Yet, not mentioning any company name is very worrisome, as anonymity is quite common when it comes to scamming. The trading world is full of scammers, trying to rip-off naïve investors on every turn, and most of them are either presenting misleading corporate (and trading) information, or none at all. It seems that Bexplus if of the first kind, as we also found tons of negative feedback on the broker in various trading websites and forums.

Blacklisted by the CNMV

Furthermore, Bexplus has been blacklisted by the financial authorities in Spain as a potential scammer. It obviously targets European crypto investors without being authorized, and that is another major red flag.

Overall, bexplus.com seems just like another scam website, exploring the somewhat fading glory of Bitcoin.

As the forex and cryptocurrency markets are plagued with scammers trying to rip-off naive investors in every possible way, traders should always be on the alert and check carefully brokers’ details and the public registers of the respective financial regulators and do some research prior to investing. This is the only way to minimize the risk of foul play in the financial markets.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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