The brokerage company Buxberg claims that it knows what clients need: high leverage, hundreds of assets, a trading platform, and additional features. However, this list lacks any guarantees for the safety of client deposits. And despite the presence of positive reviews about the firm, it is still a fraudulent platform where you should not open an account, and here’s why.
Brief Overview
- 🖥Official Website: buxberg.com
- ✈️Contact Address: no
- 📞Customer Support: +18007875082, [email protected]
- 🔐Licensing and Accreditation: no
- ⏳Track Record: 2022
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $2,500, 1:400
- 💰Additional Services: Islamic account, personal manager
Buxberg.com Examination
On one hand, the company’s official website looks decent and contains detailed information about the trading conditions and opportunities available to clients. On the other hand, the broker has revealed nothing about its operations, as many critical aspects are missing, such as the duration of its operation, licenses, business model, or legal address. These are crucial details that should be listed on the official website of any brokerage organization that considers itself safe and trustworthy.
The website is only available in English, with no support for other languages. In the top right corner, there is a small menu where you can learn about the conditions, opportunities, and some advantages. There are also buttons for logging into the account and registration. The homepage once again lists the conditions and advantages and attempts to motivate the user to open an account and start trading. In the footer, as usual, there is a risk warning and a repetition of the header. Overall, Buxberg has developed a typical brokerage portal.
Company Contacts
There are several ways to contact Buxberg managers. First, you can make a phone call to the hotline. Second, there is an email address, but only one, which already indicates the small scale of the company, as large brokers typically have multiple email addresses for different purposes: tech support, general inquiries, verification department, withdrawal request processing, and more. Third, there is an online chat, but you need to provide your contact information to initiate a conversation, and responses are often slow, with some inquiries going unanswered. Fourth, you can try reaching out via social media, but the accounts are inactive, so this is unlikely to be effective.
Key Conditions
Most illegal and fraudulent brokers share similar trading conditions and offers for traders. For instance, they typically allow trading only in CFDs, offer high leverage of 1:200 to 1:1000, and provide a selection of account types, each designed so that the next level requires more money from the user but offers better conditions. It’s no surprise that Buxberg fits all of these criteria.
Here, the leverage is 1:400, which is extremely high and indicates a lack of regulation since financial commissions strictly prohibit offering leverage above 1:30. Clients can only trade CFDs on forex, metals, indices, cryptocurrencies, stocks, and commodities. The minimum lot size is 0.01, but there’s no specific information about commissions — they are not listed and are labeled as “zero”, just like the spreads, meaning the firm is also concealing important parameters.
Another drawback is the high starting deposit. The minimum threshold here is set at $2,500, which is a significant amount. Additionally, there is no demo account or cent account, so testing the service and platform can only be done at the risk of losing real money.
Buxberg repeatedly claims on its official website that it offers great value and that traders have access to the best opportunities and advantages. This is false; in reality, the company misleads users to attract their deposits. These trading conditions are incomparable to what competitors offer.
Exposing Buxberg
First, it’s essential to determine where the company is registered, as this affects its licensing and other aspects of its operations. Unfortunately, finding out where Buxberg is actually registered is impossible because there is no address provided on the website. The user agreement also does not mention the jurisdiction in which the firm might be registered. Therefore, verifying the existence of a regulation is impossible.
However, this is unnecessary, as it is quite obvious that the broker does not hold any licenses. Firstly, if the organization had a license, it would display it proudly on the homepage, but this is not the case. Secondly, the leverage of 1:400 immediately rules out the possibility of regulation.
How long has the company been in the market? This is also a good question because the longer a broker has been around, the more trustworthy it tends to be. However, Buxberg does not disclose even this information. One has to resort to additional services that show when the domain was registered and what has happened on it since its inception.
The domain buxberg.com was registered back in 2020, but it wasn’t until 2022 that it was purchased by scammers and turned into a brokerage portal. There are also social media accounts where all posts were published in 2022, confirming the platform’s launch two years ago. Such a short timeframe is too insignificant for a broker and should not be taken seriously.
So, what does this mean? The broker operates illegally, has been around for no more than two years, and hides its legal address. It’s quite possible that the firm is not registered anywhere at all. All these factors are clear indications that the platform is a scam.
What Reviews Do Users Leave?
In its two years of existence, the company has failed to gather a substantial number of reviews online. It’s not easy to find comments about Buxberg, but they do exist, and they reveal an interesting situation. Firstly, there are negative reviews where traders complain about various issues, ranging from account registration problems to difficulties with withdrawing money. Secondly, there are also positive testimonials. However, it’s safe to say that these are fake. There’s no evidence of the platform’s solvency, and the review texts are remarkably similar to each other.
Conclusions
Pros/Cons
- Several ways to contact managers.
- No license.
- Unfavorable trading conditions.
- Fake positive reviews.
- No legal address is provided.
Just typical anonymous scammers – that’s the whole truth about buxberg.com. What should you do here? Absolutely nothing. No one knows about this company, it doesn’t provide its legal address, and don’t even think about licenses – they definitely don’t have any. This is outright illegal fraud. Do not even think about investing money here. The scammers are just waiting for someone foolish enough to transfer their funds. The internet is full of these kinds of pseudo-companies. The fraudsters have an entire network of such fake brokers, so don’t believe them. If there’s no license, it’s a scam and a fake. End of discussion. That’s the only way to avoid being scammed.
I deeply regret trusting the scammers at BUXBERG because I’ve lost my money forever. I transferred $11,000 to these fraudsters. That’s a large amount, half of my savings. Now I don’t know what to do. I’m devastated, mentally lost. My wife doesn’t know what I’ve done yet, but when she finds out, she’s going to kill me. Don’t trust anyone who promises guaranteed earnings – they’re scammers. I trusted these criminals, and they managed to deceive me. I handed over $11,000 to some anonymous people, to who knows who.
Is this scam still running? I saw it in 2023 and immediately realized the company was fake and not suitable for any kind of partnership. But judging by the new reviews, there are still naive people with money who are paying for experience instead of getting it for free. Even the trading conditions here look terrible. How could anyone choose such an unfavorable and uncomfortable broker?