BankDeFX Review: Bankdefx.com a Fraud to Avoid

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BankDeFX Review
  • Fund Safety
  • Regulation
  • Customer Support
  • Contact Details
0.5

Summary

BankDeFX will cut you off or ask for fees that were never disclosed before. The game goes on until you give up. This website is doomed to fail. Save yourself from the agony and stick to legit ventures.

BankDeFX, the broker, claims its performance is great. They do have several assets and trading tools. The venture is trading Forex, indices, stocks, commodities, CFDs, and cryptos. The company does not have a section describing what they are offering.

The best way to learn about a platform is by going through their ‘About Us page. However, this unprofessional scheme provides inadequate information. Ensure that you always run a background check on a scheme before depositing funds. 

Most of the pages in BankDeFX indicate they are being updated. The developers of this entity are in a hurry to be in the market but cannot show traders the unique features that they will be getting for trading with the scheme.

They probably do not have the best knowledge in the market. Signing up for this venture is a nightmare. The links are broken, and this is enough to prove that you will be dealing with con artists. The company does not have a license which makes them riskier.

Invest with the best forex training companies in the industry that clearly outline the advantages that you are getting. The trading conditions are available for all to see. Traders know what they are signing up for beforehand. 

Bankdefx.com Review

The marketers of a shady scheme work tirelessly searching for victims online. They optimize their adverts, and rookie traders cannot resist believing their fantasies. The individual displays a luxurious lifestyle. Therefore, you end up believing them. 

Once you share your email address or phone number, the entity will contact you. Endless phone calls with great deals. The con artists are very convincing, and without even intending to, you will deposit funds.

Account managers will take it from there. They will show you how well your portfolio is performing. At first, the scheme may pay in the initial stages to gain your confidence. Investors even deposit more money to attain an even better outcome. 

Sadly, that will be the end of you. BankDeFX will cut you off or ask for fees that were never disclosed before. The game goes on until you give up. This website is doomed to fail. Save yourself from the agony and stick to legit ventures.

The scheme is targeting traders from the European Union. The firm is not legit and risking your safety is not a recommended thing with this venture. The red flags are visible, and ignoring them will only leave a negative balance in your account.

BankDeFX Trading Conditions

The leverage to expect from BankDeFX is 1:20. However, it presents a web-based platform that does not have many features. Experienced traders may not find it appealing especially if they are used to the MetaTrader.

The spread is tight 0.4 pips for the EURUSD currency pair. Sadly, we cannot spot a single investor that has successfully gained using this broker. If the firm is reputable as it claims then, evidence should be easily available. 

Withdrawal and Deposit

The minimum amount to fund an account is $250. BankDeFX speaks highly of its trading activities. The payment methods listed are; Skrill, Visa, Neteller, MasterCard, PayPal, TrustPay, MyBank, and others.

Sadly, we cannot verify if these are the payment options traders can use in this venture. To be on the safe side, use Visa or MasterCard as it allows you to issue a chargeback from up to 540 days. The withdrawal process is handled within 2 to 5 days. 

BankDeFX is a fraud that most likely will not give back your cash. The narrative featured on the website is unappealing and vague. We suggest that you avoid the company and look for a reliable broker that has been in the industry with a proven track record.

BankDeFX Regulation Status

Unfortunately, this is a scheme that is operating without minding the regulatory bodies’ requirements. The venture does not have a license, and it can violate its terms. Financial bodies mandate investment platforms to provide information on the people running their operations.

It helps in maintaining transparency as clients get to know the people that are handling their funds. In case of anything, you will know who to hold accountable. An anonymous scheme like BankDeFX is to no good. 

They tend to exit the market unceremoniously. The suspicious entity fails to present a legal document. You cannot hold them accountable since nothing binds to them. Dealing with a shady venture can cost you money. 

The entity does not offer fund safety to clients. BankDeFX is not working with a top-tier 1 bank to segregate the funds of investors. Therefore, the money that you deposit is at the mercy of the entity.

The broker does not report its daily activities to the financial body. The is a high chance of trading activities not taking place in this venture. Traders should be keen and cautious when dealing with nasty schemes that operate illegally.

Customer Support and Contact Details

The company does not indicate its country of origin. After analyzing their website, we could not find an office address. The determination of the platform to remain discreet is shocking. You should not share your data with such a venture. 

They can use it against you. The authority will come after you in case of identity theft. To stay away from trouble, search for a genuine investment scheme that is transparent. There is an email address at the footer of the website.

However, given the nature of this scheme, we doubt investors are going to get any response. Ponzi scheme ignores emails sent to them. They cut communication once you grant access to your funds. The authority will have a hard time tracking down a fraudulent scheme. 

The Domain Insight

BankDeFX is a platform that has been in the industry since Oct 2020. This is enough time for them to have updated their contact information, trading activities and avail a legal document. However, the scheme chooses to conduct their business in this manner as it is a fraud. 

The domain name is only registered for a period of one year. Therefore, it is most likely that the scheme will not be in the industry past this timeframe. Investors who blindly believe in anonymous brokers will be left counting their losses.

Lack of investors Feedback

The company speaks highly about its trading activities. It is hence a surprise that they lack client feedback. The broker does not have trading results. Investors who join them will never know what they are signing up for. It is important that you only trade with reputable schemes as they will never defraud or leave you high and dry when times get hard.

Final Verdict

BankDeFX is a shady platform that has inadequate data of its services. The broker is in the FMA list of the blocked ventures. Therefore, there is nothing fruitful in trading with them. The company location is a big mystery. 

Their anonymity proves they are to no good. It is easy for the firm to disappear in thin air. The authority will not come to your rescue when this happens. The trading conditions of the scheme are whack and unfavorable to many clients.

Invest with genuine forex training companies that are reputable and genuine. These are platforms that have been in the industry for years. Their transparency and great performance speak for them. Your funds are secure as they are segregated in top tier 1 banks.

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