BW Dsux Review: B-dsux.co an Offshore Firm
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BW Dsux Review
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Fund Safety
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Customer Support
Summary
BW Dsux claims to have four licenses from the Australian Securities and Investment Commission (ASIC), Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and Dubai Financial Services Authority (DFSA).We, however, found some inconsistencies from their claims.
BW Dsux prides itself as being among the most trusted brokers in the forex trading market. Global Brands Magazine has even purportedly recognized them as the “Most Honest Broker.”
However, a closer inspection of this firm’s whereabouts has revealed something totally different. The broker is nothing like it claims to be. You must avoid this broker and instead trade with trustworthy crypto brokers only.
The rise of forex trading has brought with it a surge in the number of online forex brokers. However, this growth in popularity has also attracted a darker side to the industry – the rise of forex trading scammer brokers. One common tactic used by these scam brokers is to promise high returns with little or no risk. Another method is to use high-pressure sales tactics. They may even manipulate prices or refuse to allow traders to withdraw their funds.
About B-dsux.co
The first thing we noticed about the broker is that they market themselves as a reliable company. They have also paraded six awards which they have purportedly accumulated over the years. Notably, however, they have not given details about how they acquired the awards or the organizations that awarded them. These were red flags.
Their daily turnover is supposedly over four billion dollars. You can trade currencies, commodities, indices, metals, stocks, cryptocurrencies, and commodities. From their history, the broker claims to have started its operations in 2018. However, whois.com reveals that they registered their domain on 7th March 2024. This was another red flag which proves the sham broker is lying.
Founders and Team
We didn’t find any information about the company founders or the human resources currently working there. Scam forex brokers often operate in the shadows, and that’s why they hide crucial information about their company structure. This lack of transparency raises red flags.
In the world of forex trading, reputation is everything. Scam brokers understand that associating their employees’ names with fraudulent activities can quickly tarnish their reputation. This, in turn, makes it harder to attract new victims.
Contact Details
There’s an email, phone number, and a physical address for Birmingham, Great Britain. However, these details do not negate the fact that this broker is illegitimate. It’s one thing to give contact details and another to give reliable ones. Often, scam brokers will give contact details although they know they’re unreliable. They do this to frustrate anyone who may want to reach them for legal correspondence.
Regulation
A broker’s regulation is the most important aspect a trader should check. Working with an unregulated forex broker exposes traders to a range of dangers and risks. The brokers may offer trading conditions that are not transparent or fair. This can include wide spreads, requotes, or slippage, which can significantly impact a trader’s profitability.
BW Dsux claims to have four licenses from the Australian Securities and Investment Commission (ASIC), Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and Dubai Financial Services Authority (DFSA).We, however, found some inconsistencies from their claims.
In the Terms and Conditions, the broker mentions that the provisions therein are under the laws of the Republic of Vanuatu. However, the broker’s address shows they are based in the UK. When we checked the FCA database, we did not find the name BW Dsux. Furthermore, the Bank of Russia has already blacklisted this fraudulent broker.
Trading Conditions
There are three accounts, each with unique parameters. The lowest minimum deposit is $150, and the highest leverage is 1:500. If this broker were regulated by the FCA, however, they would not offer such high leverage. The FCA only allows up to 1:30 leverage. This was a red flag.
We also noticed that the broker prefers clients to deposit funds using cryptocurrencies. This is typical of financial scammers. Cryptocurrency transactions are anonymous and irreversible, making them a popular choice among scammers.
Final Verdict
BW Dsux is a big scam. Don’t be fooled by the many awards they have paraded on their website. They’re just using them to create the false illusion of legitimacy.
This is common among scam brokers. They pretend to have the proper licensure to lure people into their scams. You must avoid these tricksters and instead invest your money with the transparent and trustworthy crypto brokers.
