FXBV Review: Fxbv.com Bane Forex Scam

FXBV (Fxbv.com) is a bane CFDs and Forex broker scam to hit the lucrative trading world. FX BV is promising users a conflict of interest free trading environment. Investors are promised personalized services as well as enjoying a trade experience at low prices. Are these claims true? Most members are crying foul with this member after failing to withdraw their funds. Read this honest FXBV review to find out more.

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FXBV Review

After receiving numerous email complaints, we decided to conduct a thorough investigation. Most members are frustrated by the lack of withdrawal. How can a broker block and close accounts without giving proper notice? And this is where the problem lies with FXBV. FX BV is another fraudulent online scam platform which is out to steal from unsuspecting investors. Why do investors sign up with rogue investment platforms? Lack of proper research is a leading cause leading investors to lose money.

With over the moon claims and promises, users are lured into signing up. Professional scam artists know for a fact we all want to make an extra buck or two. And they take advantage of this need by claiming to have adequate solutions. In most cases, they will claim to help investors get high returns in a short period of time. Thanks to our years of trading experience, we know how to spot a scam from a mile away. FXBV is a scam which we will be exposing for openly stealing from online investors.

About FXBV

According to information gathered, this broker claims to be located in Australia. Sadly, no one can verify this statement as there’s no contact information. How can a broker leave investors guessing their contact details? And this is proof FXBV is misleading online investors. For all we know, these could be offshore brokers targeting Australian and European clients. Offshore brokers are known for openly breaking set regulations and rules. Stay away from any anonymous online investment platform such as FX BV.

Who are the founding members of this platform? Can we get the actual names of people running this website? Why have they failed to give users actual names of professionals running the show? One thing is clear, FXBV wants to remain anonymous. And this is a sign we are dealing with professional online scam artists. A good reason why they have omitted their names is fear of backlash from authorities and victims.

Is FXBV licensed or registered?

As we said earlier, this broker claims to be registered by ASIC. Company which they claim to be registered on their behalf is called Broadman Vickery Global Pty Ltd. We checked with ASIC’s register and yes, this company is registered. However, the company is a wealth management service provider and no way related to brokerage services. It means FX BV is using their name to try and feign authenticity. Cloning licensing and registration details is another red flag we must expose.

To understand how a licensed broker works, they must post details of their licensing credentials. FXBV has not posted any details regarding their license or registration number. Don’t you think it’s a bit weird to claim registration and not have a registered number? These are professional scam artists who want to ruin the lives of investors. To be safe, make sure to use brokers licensed by ASIC, COSNOB, CySEC, FCA, FSA, and NFA.

Features of FXBV/Disadvantages

Demo Account

A major problem we faced with their demo account is having rigged trade results. These scam artists are rigging their demo account to produce insane profit margins. Their demo account is at all times making over 98% successful trades. To be honest, there’s no robot or professional who can achieve this fete. Market prices are always volatile and change without warning. It makes guaranteeing over 98% successful trades next to impossible. Want to know why they are rigging their demo account?

Once investors see they have a rigged demo account, they will want to try out with a real account. Most investors open a real account hoping to mirror results seen on the demo account. Sadly, demo accounts use virtual money which is not real. When you open a real account, you are required to deposit real funds. Once deposit has been made, these scam artists are laughing all the way to the bank. Make sure to never open an account with these scam artists. They will simply run away with your funds.

Trading Platform

According to what we saw, these scam artists are using MT4 platform. To understand how it worked, we decided to investigate further. What we found out is beyond shocking. Their MT4 platform is not stable and is leaving users vulnerable to third party attacks. Another rude shock is their platform lacks proper security features.

Types of accounts

FXBV is furnishing users with a single account type. They have named it Standard account and offers over 100 currency pairs. Maximum leverage is 1:500 with minimum transactions size being 0.01 lots. According to the accounts page, transaction handling fee is zero which is not true. And this is one reason why this platform is refusing to grant withdrawals. These are simply scam tactics to withhold funds.

Go for credible and dependable brokers at all times. Sign up with brokers who have a proven track record. Choose brokers who come highly recommended by trading experts. What are you waiting for? Sign up with effective and leading brokers today! Your chance to make real profits is now!

Are funds safe with FXBV?

Your funds will never be safe with a broker who is totally anonymous. Why have they failed to reveal their depository institution? Where do they bank money deposited by members? Is it possible members are depositing funds straight to owner’s personal bank account? Steer clear of such brokers who hide vital banking details.

Why are they pooling funds in one account? These are mere scam artists who are putting funds at risk. Make sure to stay clear of this broker as bankruptcy can occur at any given time. Don’t expect any compensation as this broker does not insure funds.

Is FXBV a scam?

Evidence clearly reveals FXBV is a scam. Mark all their emails as spam and never click on any links sent by their email marketing team.

Bottom line

Adding this broker to our scam blacklist will aid in protecting our readers. Make sure you resist any calls of joining their affiliate programs.

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Wishing you a successful trading experience.