B2W-EX – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
B2W-EX - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL:https://b2w-ex.com
Founded:July 21, 2020
Regulations: Not Regulated
Languages: English, Arabic, Dutch, French, German, Italian, Polish, Portuguese, Russian, Spanish, Swedish
Deposit Methods:Unknown
Minimum Deposit:$50
Free Demo Account:No
Number of Assets:N/A
Types of Assets:Forex, Commodities, Indices
Trading Accounts and Conditions
B2W-EX offers its clients the following trading accounts:
- Standard Account: The minimum deposit requirement is $50. The spreads start at 2.0 pips and the maximum leverage is 1:200.
- PRO Account:The broker does not specify what the minimum deposit requirement or the spreads are. The maximum leverage stays at 1:200.
- ECN Account: The minimum deposit amount is $10,000. Spreads start at 0 pips and the leverage is at 1:200.
There is conflicting information about the kinds of investment schemes this broker also offers: TTS (Intelligent Trend Tracking System). There are 4 levels of investments you can make – Basic, Plus, Pro, Genius. The broker guarantees a weekly return on each of these packages of between 4% and 13% (depending on the package you have opted for). How this links up to your trading account is not clear.
B2W-EX– Advantages
There are no advantages to trading with B2W-EX.
B2W-EX – Disadvantages
Here are all the reasons why it would be a really bad idea to do business with B2W-EX:
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False Claims of Regulation
B2W-EX claims that it is authorized to offer its financial services by the MSB (Money Services Business), a sort of certificate to operate issued by the FinCEN (Financial Crimes Enforcement Network, Department of Treasury) of the United States.
The thing is, the FinCEN does not regulated the forex industry. To be able to legally operate a forex brokerage in the US, you need a license from the CFTC (Commodity Futures Trading Commission) and the NFA (National Futures Association). These two regulators have created one of the most tightly controlled forex markets in the world. To be able to operate in the US market, you need at least $20 million in operational capital and have to follow a long list of regulations. Most brokers are unable to meet these regulatory requirements and therefore avoid the US market completely.
The fact that this broker has found it easy to make up lies about its regulation status – especially while targeting the US market – clearly marks it as a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Anonymous Broker
We know that this broker is a scammer because it has not only lied about its regulatory status, but we also do not know anything about this entity. We do not know which company owns and operates this online brokerage. We only have a hint of where it might be located (when it says that it has servers in both New York and Hong Kong), but there is no clear information provided on where this broker is based; it’s all in the air.
There is no contact information anywhere on this broker’s website either, so we cannot even get in touch with them.
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No Terms and Conditions
The list of issues we have against this broker keeps growing. B2W is operating illegally and anonymously, and now, we find that it does not even have any Terms and Conditions on its website.
The Terms and Conditions section of any brokerage is critical. This is the legal document that defines the relationship between the broker and the trader. It outlines the terms of service, the fees, commissions, deposit and withdrawal policies, bonus policies and so on.
Without this document in place, the broker can do whatever it likes with your funds and you cannot do anything about it.
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Guaranteed Returns
B2W-EX promises its customers guaranteed weekly profits through its 4-tiered investment schemes. This is an outright lie. There is no broker that can fulfil such a promise. The forex market is highly speculative; investing in this market is a gamble, and most traders tend to lose money rather than make money while trading. And the fact of the matter is that financial regulators have insisted that brokers publish the percentage of their clients who have lost money on the market. This number ranges from 75% to 85%.
So, with so many people losing money, it is impossible for any broker to guarantee a profit. And yet, scammers such B2W-EX continue to use this tactic as bait to con novice investors.
It is a given rule that if a broker is offering an investment scheme with guaranteed returns, then the broker is scamming you.
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No Information on Payment Methods
There is no information whatsoever on this broker’s website with regard to its payment options and policies. We do not know how you can make deposits or withdrawals – all of this information seems to be available only to those who register with the broker.
This is yet another black mark against them. Payment information should be freely available to all prospective clients so that they can make the decision about whether the terms and methods are acceptable to them.
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No Way to Contact Broker
As we mentioned earlier, there is absolutely no contact information given on this broker’s website. We do not have a phone number, an email address or even a physical address. There is not even a chat option available. It seems the only way that you can connect with this broker is when it connects with you.
Conclusion
B2W-FX is a scammer. It has lied about its regulation status, we don’t know where it is located, who operates it or even what its terms of service are. Dealing with such a broker is a guaranteed way to lose your funds. We recommend to all our readers that they not broker with this entity. It would be best to find a brokerage that is regulated by a strong financial regulator and is upfront about its terms of service.
B2W-EX
Pros
- None
Cons
- False Claims of Regulation
- Anonymous Broker
- No Terms and Conditions
- Guaranteed Returns
- No Information on Payment Methods
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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