If you need another example of shady offshore brokers, here it comes. BenefFX comes from an offshore country without regulatory supervision and represents everything they tell you to stay away from. Read our BenefFX review and find out the details.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | beneffx.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Optium Ltd |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2021 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | No |
| Accepts US clients: | No |
What About BenefFX Regulation?
BenefFX is a brand of Optium Ltd from the Marshall Islands. The main reason for companies going offshore is to avoid any kind of regulatory supervision since it’s known how loose it is. Furthermore, their payment provider is Key Solutions Ltd from Bulgaria, a so-called Balkans boiler-room, the EU headquarters for all those companies who want to hide in the open. Besides, we’ve met this company already, serving as a payment provider for another scam, Gloffix.
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Knowing all this, we can only advise you to stay away and not become the next BenefFX scam victim.
BenefFX Trading Instruments
According to its website, BenefFX broker offers trading on the 5 most significant markets, including:
- Forex market
- Commodities
- Indices
- Shares
- Cryptocurrencies
Yet, the diversity of assets is unknown, and there’s no Demo account to help us find more information. All of these assets come with unregulated leverage of up to 1:500, showing once again that this broker cannot withhold any EU regulations.
Fund Withdrawal Issues with BenefFX Broker
Since the company has no official regulation and their payment provider is highly suspicious and not trustworthy, there’s a big question of withdrawals. According to numerous clients, the broker avoids approving any requests. Instead, it’s ignoring traders and not responding to their emails or calls. If you’re too persistent, you may discover that your trading account has been blocked and that you can no longer access your money.
If you experienced something similar with the BenefFX broker, let us know.
In addition, we strongly advise you not to invest in ZeithCoin, UnionsMarket and Altman Finance fraudulent brokers.
Areas Of BenefFX Scam
Online trading scams are more sophisticated each day, and involving yourself with an unregulated broker can lead to only one outcome – losing your money. According to BenefFX complaints, the broker is mainly present in Turkey, Canada, Switzerland, and Germany. Yet, from what we’ve learned, there are no restricted areas except the USA, so wherever you are, you should be quite careful.
Traders About BenefFX Scam
Based on BenefFX complaints, the broker is problematic for withdrawals. But there’s more to add. Since there’s no reputable trading platform such as MT4 or MT5, rather just a Web trader, many clients cannot open/close trades, resulting in losing funds. The company claims it has nothing to do with them and refuses to refund clients for obvious platform problems.
How Does Online Trading Scam Work?
Whether you were ever involved in a trading scam or not, you have seen numerous ads on social media stating how you can easily make thousands of dollars if you just start now. Usually, you will be prompted to invest $250, it’s the most standard amount, and you will be told that this money will generate as much as you aim to make. However, once you let yourself into this rabbit hole, you will understand that you need to invest more to generate a decent profit. If your broker is anything like BenefFX, you will never be able to make withdrawals.
Scammed by BenefFX? – Tell Us Your Story
Let us know if you were scammed by BenefFX or a similar bogus broker. Our specialists may assist you in filing a dispute and requesting a chargeback.
Also remember the names of the EZDSK, SafeTrade365 and Trade99 trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
But What Is A Chargeback?
That’s a way for your bank to reverse a fraudulent transaction and get your money back. Contact us via online chat to book a free consultation with our experts so that they can evaluate your case and give you an estimate. Don’t let scammers run with your hard-earned money, get it back now!
What Is BenefFX?
BenefFX is an online Forex and CFD trading provider based offshore.
Is BenefFX A Scam Broker?
BenefFX has numerous complaints and provides financial services illegally.
Is BenefFX Regulated?
BenefFX is not regulated and operates without any kind of authorization.
Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!
Report a Fraud Case & Claim a Refund from Scammers
Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.
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