Baihua Global Review Scam Complaint
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Baihua Global is a New Zealand based forex and CFD broker. The broker does not share much information about its terms and conditions. The broker also doesn’t offer a functional demo account. When its regulatory status is checked, it is found unregulated despite of the fact that it claims to be registered. Baihua Global is owned and operated by Booster Funds Management Ltd. Therefore, it is recommended to go through the review to arrive at the final decision about Baihua Global.
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About the Baihua Global:
Baihua Global offers only one account for trading that is Standard Account. The broker offers its services on the MT4 platform which is the most popular trading software for forex. We find it as an advantage in any forex broker’s offer, because most of the traders are used to working on the MT4 platform and find it most convenient. The platform is very intuitive and it is equipped with advanced trading tools and features, like Expert Advisors for automated trading, the customization options and back testing, superior charting with number of technical analysis indicators and many more.
Baihua Global’s trading conditions in which the only thing that become known to traders is the maximum leverage provided by the broker. A leverage ratio of 1:100 is not extremely high and would yet suit most traders’ styles. Leverage is very crucial element in forex trading. On the other side, it allows it’s traders to open larger positions by making small deposits. But, it comes with a huge risk of loss. Although, the claims of the broker regarding its regulation is all false, the company the broker claims to be owned by is listed in New Zealand’s Financial Services Providers Register and regulated by the local Financial Markets Authority (FMA).
Is Baihua Global legit or scam?
Baihua Global is an unregulated broker who claims to be owned and operated by Booster Funds Management Ltd. Booster Funds Management Ltd is listed and regulated by Financial Markets Authority (FMA), the problem is that FMA has blacklisted Baihua Global. The reason of this blacklisting is that Baihua Global is misleading traders by using the registration details of a company with whom it has no connection. According to the FMA, this broker is not a registered financial service provider in New Zealand and could be involved in a scam. Hence, it is advisable to stay away from this broker as it is a scam.