The first impression about Bexchanges broker is – we are amazed. The website is well-designed. There is a Red Bull logo with a company statement to be Red Bull partner and sponsor, and the address is London, UK. However, don’t put your money just yet.
Let’s dive deeper into Bexchanges review and see what we found!
|Broker status:||Unregulated European Broker|
|Regulated by:||Unlicensed Brokerage (Illegal)|
|Broker Owner:||Bexchanges Solution Limited|
|Supported Platforms:||MT5, WebTrader|
|Types of Assets:||Forex (FX), Equities, Commodities, Indices, Futures|
|Free Demo Account:||No|
|Accepts US clients:||No|
Bexchanges Regulation and Security
Bexchanges is a broker owned by Bexchanges Solution Limited. As per the website, the company is located in London, UK. However, it seems that reality is a little bit different. As a UK-based company, you need to have FCA approval for providing financial services. Logically, we asked is Bexhcnages regulated?
What’s Wrong With Broker Regulation?
After reviewing Financial Conduct Authority’s register, we couldn’t find Bexchanges Solution Limited anywhere. Nor the broker regulation. However, what we did find is a company with the same name registered in Belize. This led us to believe the company is hiding its actual offshore headquarters.
What Are Trading Platforms Available?
After everything, we wanted to confirm how this brokerage is still getting clients. What is the reason for anyone to trust the company? According to all the reviews, broker trading platform is MT5, followed by a web trader. We have to approve the platform choice since MT5 and MT4 are considered the best platforms out there.
However, once we checked the leverage, we confirmed that the broker is unregulated. The FCA allows leverage up to 1:30, while Bexchanges broker offers clients’ 1:500. As appealing as it sounds, it’s hazardous trading with such high leverage.
What Can You Trade With This Broker?
The broker offers trading on the Forex market, with commodities, equities, indices, and futures. However, since there is no Demo account, confirming the number and the diversity of assets is not possible. We are simply not willing to pay any money to an unregulated brokerage for a confirmation.
Speaking of funds, Bexhanges minimum deposit is $1,000. An unregulated, most likely offshore broker is asking you to deposit such a high amount!
The broker has such a common name that even searches won’t give you any results. All you get are different, legit exchanges. Smart, but yet not enough.
Do not let anyone scam you. If you have withdrawal issues with this broker, file a complaint about it immediately!
Scammed by a Bexchanges broker? What to Do?
If you were scammed by Bexchanges, you need to get your funds back. You are not the only victim of the Bexchanges scam. File a dispute and request a chargeback.
Let the professionals assist you. We have a way for you to file a successful dispute.
Contact us via chat immediately!
Don’t Let the Scammers Go Away for Free!
What is Bexchanges?
It is an online trading brokerage without a license. Beware of fraud!
Who is the owner of Bexchanges broker?
Broker is owned by Bexchanges Solution Limited, allegedly based in the UK. However, the same company was found in Belize.
Is Bexchanges a legit online broker?
Bexchanges pretends to be legitimate, while it has no regulation for providing financial services.
Are My Funds Safe with Bexchanges?
The broker is unregulated, meaning your funds are not safe with Bexchanges.