Caution! BNPMarkets is an offshore company! Your funds may be at risk.
BNPMarkets.com Key Facts
🔴 BNPMarkets.com holds no license to sell financial products and services. Red flag!
🔴 BNPMarkets.com refuse to disclose important information about themselves. Red flag!
🔴 BNPMarkets.com is a recently registered website. Disturbing sign!
BNPMarkets.com registration, license and regulation
BNPMarkets.com is a trading name of Smart Technology Services LTD, a Marshall Islands company claiming to hold offices in London and Liechtenstein, as well. The Marshall Islands is a shady offshore jurisdiction having no financial authority, so brokers solely based there are too risky for traders. Our research in the British financial regulator FCA showed no license, so BNPMarkets.com is an unreliable offshore broker offering financial services on regulated markets without the proper authorisation. They might as well be a scam given the conflicting information about their presence on the markets they present. We urge people to trade and invest only with duly authorised, trustworthy brokers and avoid unregulated shady entities.
Each broker presented in US have to be an NFA member and registered with CFTC.
The regulations in USA are quite heavy, compared to other domains. The capital adequacy requirement state Forex brokers have to provide minimum 20 million USD in paid-up capital to get a US license. Also clients’ funds should be kept in segregated accounts, making it impossible for brokers to misuse the capital for daily expenses.
The restrictions on Forex trading in USA includes a maximum allowed ratio of 1:50. Clients are also limited by the FIFO rule (first in, first out), meaning traders have to close their positions consequently. Hedging is also disallowed, which some traders might find restricting.
BNPMarkets.com address and contacts
BNPMarkets.com lists two addresses- in the UK, the Marshall Islands and Liechtenstein but they do not specify which is the headquarter one. In Britain, they are purportedly located at 40 Bank St, Canary Wharf, City of London, E14 5NR, UK. It's one of London's skyscrapers occupied by many international companies, but we found no proof that BNPMarkets.com holds an office, so they are probably only nominally present there, if at all. The Marshall Islands location given is Trust Company Complex, Ajeltake ROAD, Majuro, Republic of The Marshall Islands MH 96960. That's an infamous address linked with many fishy brokers, some confirmed as a scam, so beware. The Liechtenstein address is Dr. Grass-Strasse 10, 9490 Vaduz, Liechtenstein, but in this case, we are also unable to confirm such a company's presence in this address.
The BNPMarkets.com contact numbers presented are +447725331132 and +441420358861, both associated with BNP Crypto Robot, apparently, another business developed by the guys standing behind BNPMarkets.com.
BNPMarkets.com website information
BNPMarkets.com is a domain name registered in the USA with an IP 188.8.131.52 at 29.01.2020. The website is relatively new and doesn't correspond with the BNPMarkets.com claims to operate in the markets since 2006. The IP co-hosts more than 760 other domains, so we can't link this website to other suspicious entities based on the website information.
The website is registered by REG.RU LLC, which is a Russian registrar. BNPMarkets.com also uses private protection services, so it's impossible to reveal the website's ownership, and that's a disturbing sign, especially when it comes to investment companies.
The BNPMarkets.com Alexa ranking is practically non-existent, so we can straight away refute their claims to be the world's top broker. It's yet another fraudulent website traders should be cautious when dealing with.
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.