Bex Options Review Scam Complaint
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Bex Options is an UK based broker that offers traders all kind of financial products to trade. The broker offers trading in forex pairs, cryptocurrencies, binary, etc. The broker is trying to mislead the traders by claiming that it is an authorized financial service provider but this is not the case. It is a very shady broker let’s look into this review to uncover this broker.
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About the Bex Options:
Bex Options provide its clients four types of accounts for trading, namely, Bronze, Silver, Gold, and Premium. Requiring minimum deposit of $1000 for Bronze, $6000 for Silver, $20,000 for Gold, and $60,000 for Premium. However, there are no essential details available regarding trading conditions like leverage, spreads, and payouts. Bex Options provides allegedly good platforms, MT4 and MT5 for trading, which is the leading platforms in the industry. According to the information on its website, Bex Options offers trading in forex, stocks, Binary options, crypto trading and as well as mining. As we mentioned in the above details, the offer and trading conditions of Bex Options is extremely unclear. The broker only promises some percentages of weekly returns, and has not specified any spreads, payouts, leverage, etc. On top of that, Bex Options does not offer the option of demo account.
The most basic trading plan with Bex Options requires an initial deposit of $1000, which is quite a high amount. Most of the forex and binary options brokers ask for $100 to $250 as the initial deposit, including those as well who are licensed and reputable brokers. Furthermore, Bex Options mentioned that it charges 20% on every withdrawal. Such a high withdrawal fee only further inclines towards the fact that the brokerage is a scam. In mode of payments the only possible option for deposit is cryptocurrencies and this is not that surprising because major card providers like Visa and Mastercard, along with major e-wallet like Skrill cracked down on unregulated brokerages.
Is Bex Options legit or scam?
Bex Options is misleading traders by claiming that it is an regulated broker UK based and authorized by UK’s FCA but according to FCA the license number which Bex Options claims as its license number is actually belongs to Bex Trading Ltd, a company which is not associated with Bex Options in any manner. It has seen that Bex Options mostly runs investment scams and is a complete red flag.