BfxTrade Key Facts
🔴 BfxTrade offers fraudulent interest rates. A scam sign!
🔴 BfxTrade presents false legal information. Red flag!
🔴 BfxTrade refuses to operate transparently. Red flag!
🔴 BfxTrade runs a suspicious MLM scheme. A disturbing sign!
BfxTrade products and services
BfxTrade is an HYIP or high-yield investment programme offering inflated interest rates. Allegedly, when investors deposit 1000 USD or more the profit for 72 hours would be 300%. That's impossible, so they simply create unreasonable expectations to entice people into their crooked game.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
BfxTrade company and regulation
BfxTrade is purportedly a British company, but that's not true. In fact, it's an illegal business that's not registered anywhere, at all. BfxTrade is a scam. Stay away from HYIP businesses and invest with legitimate companies only. Read on to see why the regulated businesses are safe and it's unlikely for them to defraud people.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
BfxTrade address and contacts
The people running BfxTrade do not reveal anything about their headquarters address or contact numbers. So, they refuse to operate transparently, which is typical for scammers who conduct criminal activities.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
Bfxtrade.com website info
Bfxtrade.com is a domain registered on the 22nd of April 2020, so it's less than a year old at the time of writing. It's registered on an IP address in the United States:198.187.29.179, currently co-hosting more than 600 websites. Many domains based on the same IP belong to HYIPs providers, probably linked to this scheme.
Alexa doesn't even rank the domain, so it’s a highly unpopular website, which people do not trust. The Alexa ranking isn’t a key factor, but the lack of popularity isn’t in any way a positive sign.
Bfxtrade.com uses protection services to hide website ownership. The latest trend in the privacy policy denies it should be a problem, but considering investment services, we might as well dismiss it as a disturbing sign.
Below you can see other high-yield investment platforms based on the same IP:
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.