Investors Alert bs-xchange.com – This is a suspected imposter entity. It may be impersonating or falsely claiming to be working with:
– a registered Australian business;
– Australian financial services licensee;
– Australian credit licensee; and/or
– the authorized representatives or employees of the business or licensee.
Introduction to bs-xchange.com:
Bs-xchange.com is a website that claims to be a leading online trading platform for forex and cryptocurrencies. The website offers various trading tools, educational resources, and account types for different levels of traders. However, bs-xchange.com is not a legitimate broker, but a suspected imposter entity that is trying to deceive investors and steal their money.
Products and Services offered by bs-xchange.com:
Bs-xchange.com offers four types of accounts: Basic, Silver, Gold, and Platinum. The minimum deposit ranges from $250 to $50,000, depending on the account type. The website also claims to offer leverage up to 1:400, low spreads, fast execution, and access to over 200 trading instruments. Additionally, bs-xchange.com claims to provide 24/7 customer support, market analysis, webinars, and trading signals.
However, these products and services are not trustworthy, as bs-xchange.com is not regulated by any reputable authority. In fact, the Australian Securities and Investments Commission (ASIC) has issued a warning against bs-xchange.com, stating that it is a suspected imposter entity that may be involved in a scam. ASIC advises investors not to deal with bs-xchange.com or any entities associated with it.
Financial institution & regulatory license of bs-xchange.com:
Bs-xchange.com does not disclose any information about its financial institution or regulatory license on its website. This is a red flag that indicates a lack of transparency and credibility. Moreover, bs-xchange.com uses a fake address in Australia to mislead investors into thinking that it is a local broker. However, ASIC has confirmed that bs-xchange.com is not registered or licensed in Australia, and has no connection to the legitimate entity BS Exchange Pty Ltd.
Trader’s Reviews and Customer Service of bs-xchange.com:
Bs-xchange.com has very few reviews online, and most of them are negative. Many traders have reported that bs-xchange.com is a scam that refuses to process withdrawals, manipulates prices, and harasses customers with phone calls. Some traders have also claimed that bs-xchange.com has stolen their personal and financial information.
Bs-xchange.com’s customer service is also very poor and unprofessional. The website only provides an email address and a phone number as contact options, but no live chat or social media channels. Many customers have complained that bs-xchange.com’s support team is rude, unresponsive, and unhelpful.
How to Safeguard Against Fraudulent Brokers:
To avoid falling victim to fraudulent brokers like bs-xchange.com, investors should always do their due diligence before choosing a trading platform. Here are some tips on how to safeguard against fraudulent brokers:
– Check the broker’s regulatory status and license number on the official websites of reputable regulators, such as ASIC, FCA, CySEC, etc.
– Verify the broker’s physical address and contact details on Google Maps or other sources.
– Avoid brokers that offer unrealistic returns, bonuses, or guarantees.
– Beware of brokers that pressure you to deposit more money or make hasty decisions.
– Use secure payment methods and avoid sharing your personal or financial information with unknown parties.
– Report any suspicious activity or fraud attempts to the relevant authorities.
Bs-xchange.com is a suspected imposter entity that poses as a legitimate online trading platform for forex and cryptocurrencies. However, bs-xchange.com is not regulated by any authority, and has been warned by ASIC as a potential scam. Investors should avoid dealing with bs-xchange.com or any entities associated with it, and report any suspicious activity to ASIC. To safeguard against fraudulent brokers, investors should always do their research before choosing a trading platform.