IMPORTANT ! Broker scam

[UltraHater 67]

It's disheartening to see another scam broker from Switzerland, bdswiss.com. They haven't paid me in two weeks.

1. I am from Vietnam, and they took over $10,000 from me with no return, no email, and they were very quiet. (I have photos of them refusing to let me withdraw and now they have withdrawn everything from my account.)

2. Their forex market manager, Mr.Kang, has been accused by brokers such as Exness.com, Anzanocapital.com... of denouncing customers and being fired from the company; I am aware of this and have notified them as of 10/2019.

However, bdswiss continued to use him as a manager in Vietnam until 3/2020 in order to continue to defraud investors, allowing them to see why they wanted to defraud in the first place.

Furthermore, they organized to play PnL with IB partners, how the customers burned and lost their accounts as quickly as possible—the account customers were very excited about this.

3. They have a RAW account that pays with a Visa card, but be aware that even if you cancel and close the MT4 account, you will receive unexpected payments to your Visa card every night. Be cautious, you from Bdswiss.

[Coalossus 23]

Because most things in Forex are done online, broker scams are possible. When a newcomer joins, they are unaware of the loopholes and are thus dumped by such brokers who are doing scam. The best way to choose a broker is to thoroughly review it and have a common link between both to determine trustworthiness.

[Coyoteerex 16]

Unfortunately, I am not surprised that this occurred. Following an investigation, the British regulator FCA recently ordered all BDSwiss Group subsidiaries to cease all services in the UK and reimburse all client funds. All trading positions must be closed as well. According to the FCA, despite the fact that BDSwiss' UK branch is FCA-licensed, it has come to their attention that a large number of UK traders have been pledged through the broker's offshore or overseas branches.
Furthermore, the watchdog accused BDSwiss Group of running deceptive sales and marketing campaigns. The most common of these, according to reports, promised extremely improbable and deceptive profit returns. The FCA noted that a large number of UK traders have lost money as a result of these ambiguous campaigns and social media affiliates.
Given what you're describing, they've clearly been shady for a long time, and not just in the UK. I'm sorry to hear this happened to you.
1

[StylishPineapple 58]

Many brokers scam me these days, and they mostly target new traders with bonus offers and other forms of advertising. Before investing in a broker, traders should conduct extensive research.

[GlitteringBronco 23]

I used BDswiss as well because a friend recommended it to me.
1.Stop loss and take profit orders are ignored by the broker in 9 out of 10 cases. I just watched those lines get ignored every time, and it was so frustrating because I was in profit so many times, and because those actions didn't cause the trend to shift against me... My stop loss was activated before the markets even got to that point.
2.The spreads... they're out of this world. I just found out that they tripled the spread on Wednesday... HOW AND WHY?!

Overall, I felt targeted while using their service. That's not to say I didn't make mistakes... I did a lot, but that doesn't change the fact that you are targeted and this broker has no intention of protecting you... quite the opposite. I'm switching to a broker with more visibility and reputation in this area.

[MadDolphin 63]

I'd like to warn people about a scammer broker in mt5, ftsefinancialltd, who took $1,000 and then closed the account.

[VoyageBoy 15]

This is the first time I've used an offshore broker. Hugosway, mobile app, and MT4 all froze for 10 minutes to see a price gap with a drop in price (I had two open sell positions) even though the gap was in my favor, they immediately closed one position because margin!? Place a hedge position spread fluctuated between 5 and 10, but was executed at 200 pips, then stop accepting trades for 10 seconds before executing a negative order. I opened the same position with three other brokers and nothing happened. There was no gap and no crazy spread. I have screenshots, as well as the account number and transaction ID.

I'm not sure how many American traders, like the one on YouTube, are using them safely.

Unless they are promoters or part of a referral program.

[CleanFiend 11]

I'm not surprised at all that brokers are allegedly "scamming" people.
Every now and then, there will be news about a broker's WD problem or a price difference between two brokers.
I've read numerous comments on this and other forums about the same issues.
Even the most well-known ones have received negative feedback.

But I don't think it matters if it's an offshore broker.
Most brokers have offshore licenses in order to provide greater leverage to their traders.
Furthermore, if you are not a member of the FCA, ASIC, NFA, or a European country, you are usually subject to the broker's offshore "licensing commission."

[AlienHero 51]

These forums are excellent for identifying scammers. I believe we should start a thread where we can give honest feedback on the brokers we use. Is this a violation of the forum's rules?!

[WorkoutWanderer 12]

Do you know any unregulated forex brokers who have been proven to be trustworthy? I'm not sure if websites are advertising various unregulated brokers for an affiliate link commission or not. I'm hoping to find an unregulated broker that is owned by a reputable company and has been in operation for at least ten years. I live in the United States, and all US-regulated brokers do not support MetaTrader 5, and the maximum leverage is low. Any clarification is greatly appreciated.