Read our Bnbfastmining review to see if this broker is a scam or legit. Just to clear doubts, this is a bnbfastmining.com review.
The search for a broker is filled with challenges that you need to be aware of when you begin your own hunt. After all, you do not want to make compromises in the brokerage you select because they play a key role in your success or failure.
They have to provide you with access to the market, the trading platform you use and the tools as well as conditions that will determine where you end up. Therefore, it is not a mistake you want to make because it will cost you your entire investment. This is where you can benefit from the following Bnbfastmining review.
How? The key to making the right decision is to not just choose any brokerage that makes you promises. You only have to look at a few to realize that every company in the market is going to make big claims and. But, should you take their word for it? No, this is the internet and you cannot trust anything you read, or see.
What should you do then? This is where you have to think about doing your research to ensure you are not making a bad decision.
Just skimming a broker’s website before you open an account with them is not enough because the first glance is unlikely to reveal the flaws. These criminals have gotten really good at concealing the truth and they deliberately add offerings that can tempt people into signing up right away.
Thus, you have to take everything with a grain of salt rather than believing it right off and always verify the details. This can help you avoid opting for a shady or fraudulent brokerage. The same approach pays off with Bnbfastmining that tries to pull a fast one on its client.
It advertises itself as a CFD brokerage, when it really isn’t, and the dangerous thing about it is that it portrays itself as a licensed company, even though it is not. Let’s take a closer look at Bnbfastmining’s issues.
The best place to begin researching a brokerage is with its regulation and licensing because this will tell you outright if you can trust the company you are dealing with.
Regulated and licensed platforms are monitored by third-parties and can be held accountable for their actions. They are required to follow certain rules and standards and also offer consumer protection that their unregulated counterparts do not.
Therefore, it is extremely smart on the part of Bnbfastmining to pretend to be licensed. When you check out their website, you will find that they claim to have a license from the Cyprus Securities and Exchange Commission (CySEC) in Europe and also the Financial Conduct Authority (FCA) in the United Kingdom.
It is important to note that these are two of the most renowned regulatory authorities in the world and their license is considered immensely valuable.
However, when you check the online registers of these regulatory authorities for Bnbfastmining, or the companies, such as bnbfastmining AUS Capital Pty Ltd., you will not find them listed anywhere.
Instead, you will find that the license number that Bnbfastmining has used belongs to Etoro, which is one of the well-known brokerages in the market and has absolutely nothing to do with Bnbfastmining. This is yet another tactic that scammers use; stealing the details of licensed companies to appear legitimate.
Furthermore, you will also discover that Bnbfastmining has listed an address in the United States on its website, but in order to be based there, it would need to have a license from the Commodity Futures Trading Commission (CFTC) and also be a member of the National Futures Association (NFA).
Yet, you can check their registers and not find Bnbfastmining listed, which means it is lying about its office address as well. It is apparent that such a company should not be trusted with your money.
Online brokers facilitate trading through software that they provide to their clients and it is the most important feature they have to offer because it affects your entire experience. If the software doesn’t have the right technology and tools, your performance can suffer significantly. You will find that Bnbfastmining has advertised the MT4 trading software on its website.
This is impressive because a quick search will tell you that the MT4 is one of the top trading software in the market and a favorite of professionals because of its cutting-edge technology and advanced tools and functionalities. But, you will soon discover that Bnbfastmining does not really have a trading software at all. The link they provide leads you to the MetaQuotes website, the platform’s developer.
There you will find a stock version of the MT5, its successor, available for download, but it has nothing to do with Bnbfastmining. The brokerage just has a dashboard given on its website that allows you to track your money and just stare at it. Essentially, this means that Bnbfastmining cannot offer any CFD trading services at all and is just a fraud.
It is also a must to take a look at the payment methods that an online broker supports because you want to be able to deposit and withdraw your money in a hassle-free way. Moreover, you also want to ensure that your funds will stay secure, but you will not find any such reassurance at Bnbfastmining because they only support one payment method; cryptocurrency.
This has become a favorite of most scammers these days because the best thing about crypto payments is that they are final, which means they cannot be reversed.
Once you make the payment, it is gone and you cannot get a refund. Methods like credit cards and more give you the option of chargeback, which most legitimate brokers will offer to their clients. Yet, Bnbfastmining does nothing of that sort and this gives you more insight into what you are dealing with.
Considering what you discover about Bnbfastmining when you take a closer look, it is safe to say that this is not a genuine brokerage and is just a scam.