“Gain premier access to world markets without trading limits” is a great slogan for a brokerage company. However, beautiful words and elegant motivational phrases mean nothing if the firm can’t even provide its registration address. Up next is the Buxberg review, aimed at revealing the full truth about a broker that supposedly offers the best conditions and prioritizes client security.
Key Features
- Company Name: Buxberg Ltd
- Website: https://buxberg.com/
- Available Contacts: [email protected], +18007875082
- Foundation: 2022
- Services: CFD Trading
- License: no
- Initial Deposit: $2,500
From Sign-Up to Payout
As usual, let’s start with a look at the company’s official website. Buxberg.com appears neat and has a touch of uniqueness. Information is provided about almost all the conditions and services offered. Users can explore pricing plans, key legal documents, the platform, and some advantages. However, this is where the positive aspects of the site end. The downsides include the lack of details about the broker’s operations: its operational history, regulation, insurance, and so on.
No typographical or other errors were found. Also, there isn’t an overuse of meaningless phrases, as there are relatively few of them. Yet, despite this, the site still doesn’t give the impression that you’re on the portal of a serious, large organization. Let’s move on to registration and then the personal cabinet.
The registration process requires not only contact information and your name but also your residential address. It’s unclear why. One would think it would be simpler to request residential details during identity verification, while also checking documents that confirm this.
We were unable to complete the registration. The request failed for unknown reasons. This is the first red flag indicating something might be wrong with the broker. According to recent Buxberg reviews, many others who tried to create an account faced the same issue. The company hasn’t fixed this problem. This should raise concerns because such registration issues are often found only with unregulated companies.
Without a personal cabinet, you can learn that the company requires mandatory KYC verification, but it’s better not to rush into sending documents. Financial transactions can be made using credit/debit cards, bank wire transfers, and some additional methods not disclosed on the website.
Our Trading Experience With Buxberg
Since it’s impossible to register an account due to an unknown error, we’ll have to rely on the platform’s description provided by the company itself. The broker has created four sections on the website dedicated to the terminal, but all of them are identical, and one is completely inaccessible without a personal cabinet.
The broker promises traders a vast array of features and options, including multiple order types and chart setups, one-click trading, analysis and indicator tools, real-time pricing, over 2,000 assets, and trade history. There are also apps for Android/iOS and computers. However, download links are available only to registered users.
It’s impossible to determine the developer or confirm the existence of mobile versions. The company could easily be misleading users about the functionality of its terminal. This is a common practice for such firms. Judging by the screenshots and the brief description, Buxberg seems to offer a standard platform that doesn’t stand out and is no better than similar terminals.
The Reality Check
Now, let’s get to the most interesting part of the Buxberg review. Next, we need to check the company’s legitimate status, but frankly, there’s not much to check. This is a very secretive organization that hasn’t provided any licensing information or a legal address. There’s nothing to latch onto.
If a broker doesn’t mention licenses, that’s a major red flag. Any company holding a license will certainly show you the license number, provide a link, and make this information highly visible. Regulation is all about trust and reliability. However, there isn’t even a mention of regulation here.
The legal address is also missing, and this is an even more significant negative factor. How can a company operate without registering a legal entity? To start a business, you need to officially register it in some jurisdiction. The scammers haven’t even done this — or if they have, they’re hiding the address. We won’t waste time combing through registries of legal entities in different countries, and we advise you not to either. Don’t waste your time. A safe firm will always display all relevant information on its website, while scammers will hide it.
An anonymous site without registration details and with stolen legal documents. No license and no guarantees. What could be worse for a trader?
How Long Has Buxberg Been in the Game?
The funny thing is that this isn’t exactly a new project. Judging by the domain, the platform was launched in 2020. However, that’s not quite accurate. A check of snapshots in Webarchive showed that nothing was on the domain until 2022, and later that year, this broker appeared, along with social media account registrations. So, the scam has been operating for at least two years, and the domain was last updated in 2023. See for yourself, here’s a screenshot of the buxberg.com check.
Extra Fraud Indicators
Alright, we’ve established that this is a noname broker with no registration address and no license, and it’s been around for two years. Are there any other signs that you should stay away from this platform?
The company seems abandoned, especially considering the fact that it’s impossible to create a personal account. However, the online chat is active, and notifications still come through, which is rather strange. There are few reviews on the internet — another sign that this broker is not popular, even though a lot of time has passed since its launch.
Buxberg promises zero commissions and fees, along with a leverage of 1:400. However, trading is limited to CFDs only. If you put all this information together, the conclusion is fairly obvious — this is a dealing desk that doesn’t send client orders to liquidity providers or ECN. CFDs are instruments that are easy to manipulate. Since the platform is interested in its own profits, not those of the traders, you can expect to encounter fake quotes and unrealistic charts.
Is Buxberg the Right Fit?
It’s not the best idea to deal with a company that hides its location and lacks a license. Don’t forget that this broker is directly incentivized to prevent you from making money. Knowing this, there should be no desire or reason to trade on this platform at all.
These crooks stole my money in 2022. At the end of 2022, I deposited $6,000 here, thinking I was partnering with a profitable, safe, and promising broker. I wanted to earn extra money, but the trading didn’t go well from day one. They lie about zero commissions — they’re not zero! Plus, the spreads are huge! The platform itself works poorly; it’s the worst terminal I’ve ever traded on. In the end, I didn’t make any money. For a month, I stayed stagnant, even losing money, and then decided to withdraw. I’ve still not been able to withdraw the remaining $4,000 from my balance. Buxberg is ignoring me. Now my account is blocked, and I can’t log in. Support has stopped responding since 2023.
How can anyone trust a company without registration or regulation? I don’t know. It’s a mystery to me. These scammers even have the nerve to post fake positive reviews about themselves. What do they think of themselves? In short, fellow traders, this is just a fake and scam broker. Don’t even think about investing here.