Bomexbit presents itself as a modern and safe trading platform with deep liquidity, quick execution, low spreads, and leverage up to 1:100, as well as significant trading bonuses and low trading costs. Read this Bomexbit review to know more about it.
Bomexbit also claims to be licensed and functioning under US jurisdiction – fantastic stuff, if only it were true. And the truth is rather different — for starters, the website looks to be completely faceless, it has any legitimate forex license, and it practically yells scam. If you’re still thinking about Bomexbit’s offering, be sure to read the following review.
There is no legitimate forex license.
When it relates to deciding a broker’s reputation, this is the most important factor to consider. Fraudsters are unlicensed brokerage firms by definition, and this story is no exception. Bomexbit proclaims to be licensed in the United States and to be functioning there, but this does not appear to be the case.
Keep in mind that every broker operating in the United States must be regulated and permitted as an FCM and FED by the local CFTC, in addition to being awarded affiliation in the National Futures Association.
The name of the firm likely operating the website, Bomexbit.com Finance LLP, does not appear in the CFTC or NFA registries, which is unsurprising given the massive minimal operating capital requirement of 20 million USD that all US-based brokers must meet.
Because of the capital needed to start this business, only a few really significant brokerage businesses are authorized to service the US market.
Despite their promise that they are situated and licensed in the United States, the Bomexbit website looks to be completely anonymous as well – there is no business history, contact details, or even just a mobile number.
And, as we previously stated, you have no grounds to assume that Bomexbit is actually situated in the United States because, without a legitimate forex license, customers have no grounds to suppose anything the broker claims.
In such instances, our main tip is to double-check your firm’s authenticity and license credentials by comparing information to data in the relevant regulatory authorities’ registers, such as the CFTC in the United States, and FCA in the United Kingdom.
There Is No Available Trading Platform
That, too, came as no surprise. Despite Bomexbit’s claim of a contemporary and secure trading platform, some fraudsters don’t bother to provide an actual trading platform, which really is exactly the situation here. A broker without a proper trading platform is a big sign you should avoid it and label it as a scam.
Remember that legitimate brokers endorse legitimate platforms such as MT4 or the latest version of MT5, the most popular trading platforms on the market at the moment, so if a broker doesn’t provide you with a reputed and efficient platform such as the ones I mentioned, you’re dealing with a scam.
Only Cryptocurrencies Are Accepted
As it turns out, bitcoins are the only way to pay at Bomexbit, which is a concerning indicator, to say the least. Scammers want you to pay in digital currencies or other cryptocurrencies currency for one simple reason: all cryptocurrency transactions are entirely irreversible. There’s no going back after you’ve completed a transaction. Scam artists like Bomexbit rely on this exact scenario.
When it comes to online scams, if you paid through a VISA or Mastercard, you have the possibility of filing a chargeback with your financial institution, which is precisely what we would suggest you do in the case of an unpleasant incident.
When there are plenty of trading platforms available, many of them are reliable and regulated. You shouldn’t risk your hard-earned funds with a broker that fails to show the information of licensing on its website. Bomexbit is not a worth choosing broker, so avoid it. If you have invested with this broker then try to recover your funds by filing refunds.