From the moment we opened the BankDeFX website till the very end of this BankDeFX review, we had a bad feeling about the brokerage. From the untransparent website to the absence of all crucial information, this broker is shady and anonymous. But we uncovered it all.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | www.bankdefx.com |
| Blacklisted as a Scam by: | BaFin, FMA |
| Owned by: | BankDeFX Ltd |
| Headquarters Country: | N/A |
| Foundation year: | N/A |
| Supported Platforms: | Web trader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Yes – BTC, XRP, ETH – total 25+ |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Free Demo Account: | No |
| Accepts US clients: | No |
BankDeFX Regulations and Security
BankDeFX is a brand allegedly owned by BankDeFX Ltd from an unknown country. Why do we say allegedly? Because we couldn’t find such a company in any register, we searched. We’ve also been through Tier1 regulators such as FCA, ASIC, and BaFin and found nothing about BankDeFX broker.
It’s a huge red flag, and it shows you should avoid BankDeFX at all costs.
BankDeFX Warnings From Financial Regulators
As the name suggests, the broker is active mainly in Germany and Austria. And these two countries are the ones that published an official warning against the BankDeFX scam.
BaFin required bankdefx.com to stop providing unauthorized financial services.
On the other hand, FMA said BankDeFX is not regulated by them and cannot provide any sort of financial services in Austria.
Beware of the BankDeFX scam and other brokers such as traderfex, BTCADA, FIPT, and PKG Global.
Fund Withdrawal Issues
Since the broker has no official headquarters and doesn’t belong under any regulatory jurisdiction, it seems that its employees thought to themselves it means “no money back.” Everything they take from clients stays with them, and clients cannot withdraw anything. Despite their attempts and numerous withdrawal requests, money is gone for good.
Think if you want to be involved with such a company.
Traders Opinion
According to some BankDeFX reviews, traders believe they’re being involved in a scam conducted by China. The broker is ranked as poor on all of the websites, and all you can read is about numerous withdrawal issues, lousy support, and low-level financial advice.
Everyone involved recommended staying away from the BankDeFX broker.
How Does Online Trading Scam Work?
Online advertising is where the scam starts. Traders are convinced they will get access to the best financial institution and make millions from as low as $250. The ad leads to the broker’s website, where it’s necessary to provide personal information and contact details. Afterwards, the broker calls them and promises even more than the ad itself. People involved in such a scam know how to play on your wishes and manipulate you to believe their lies. In the case of BankDeFX, the main targets are German and Austrian residents without trading experience.
Once involved with this scam, you will never see a penny back.
Scammed by BankDeFX?
Suppose you’ve been involved with BankDeFX and got scammed. You can always request a chargeback and get your money back legally. However, for such an action, you need to provide sufficient evidence.
But what is a chargeback?
Once you submit all the evidence, your bank has the legal right to retrieve your funds from the merchant back to your credit card. For further details related to your particular case, contact our customer support via online chat.
What is BankDeFX?
BankDeFX is an online trading brokerage defrauding clients to be a legit financial service provider.
Is BankDeFX a scam?
The broker has no regulations, and it has been blacklisted in Germany and Austria.
Is BankDeFX regulated?
No, BankDeFX has no regulations nor license for providing financial services.
Source:
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