BSB GLOBAL Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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I have been at thus platform for around 1 month now and can't even take the money out. Please don't trust this company whatsoever. Quick money doesn't happen! BSB GLOBAL is not to be trusted!
Summary: The overall assessment of BSB Global indicates a highly negative reputation, characterized by numerous user complaints regarding fund withdrawal issues and a lack of regulatory oversight. Multiple sources classify BSB Global as an unregulated broker, raising significant concerns about its trustworthiness and operational practices.
Note: It is crucial to recognize that BSB Global operates through various entities across different jurisdictions, which complicates the regulatory landscape. Our evaluation incorporates a methodical approach to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are based on a combination of user experiences, expert opinions, and factual data regarding the broker's operations.
BSB Global, established in 2020, presents itself as an online forex broker offering a range of trading instruments, including forex, commodities, indices, and stocks. However, it operates without any valid regulatory oversight, which is a significant red flag for potential investors. The broker claims to provide access to various trading platforms, including cTrader, but user reviews indicate a lack of transparency and support. The absence of a demo account further complicates the user experience, as traders cannot test the platform before committing funds.
BSB Global is not regulated by any reputable financial authority, which is a major concern for potential clients. The Financial Conduct Authority (FCA) in the UK has issued warnings against the broker, categorizing it as a scam. This lack of regulation means that clients have little to no recourse if they encounter issues, making it a risky choice for trading.
Users have reported significant difficulties when attempting to withdraw their funds from BSB Global. Many have described their experiences as frustrating, with complaints about being unable to access their money or facing unreasonable withdrawal fees. The broker reportedly requires a minimum deposit of $250, but users have found that this initial investment can quickly become trapped within the platform.
While BSB Global advertises various account types and bonuses, these offers often come with hidden conditions that make it challenging for traders to withdraw their funds later. Users have indicated that the promised bonuses are merely a tactic to encourage further deposits, which ultimately leads to more significant losses.
BSB Global claims to offer over 400 market instruments, including more than 70 forex pairs, commodities, and stocks. However, the quality of the trading experience is called into question due to the broker's unregulated status and the negative user feedback.
The broker's cost structure includes spreads starting from 0.7 pips, but users have reported hidden fees and commissions that were not disclosed upfront. This lack of transparency can lead to unexpected costs for traders, further diminishing their potential profits.
BSB Global offers leverage of up to 1:200, which can amplify both gains and losses. While high leverage can attract traders looking for quick profits, it also increases the risk of significant losses, especially in an unregulated environment.
The primary trading platform offered by BSB Global is cTrader, which is known for its user-friendly interface. However, the lack of a demo account limits traders' ability to familiarize themselves with the platform before making real deposits.
BSB Global does not accept clients from the United States, which may indicate a lack of compliance with regulatory standards in more stringent jurisdictions.
Customer support options appear limited, with many users reporting poor communication and unresponsiveness. This lack of support can exacerbate issues for traders who may need assistance with their accounts.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions (2/10): The account offerings are limited and come with significant restrictions, particularly regarding fund withdrawals.
Tools and Resources (3/10): While BSB Global provides access to cTrader, the absence of a demo account and limited educational resources diminish its appeal.
Customer Service and Support (1/10): Users have reported severe issues with customer support, including long response times and unhelpfulness when problems arise.
Trading Setup (2/10): The trading experience is marred by the broker's unregulated status, leading to a lack of trust and confidence among users.
Trustworthiness (1/10): Given the lack of regulation and numerous user complaints, BSB Global is deemed highly untrustworthy.
User Experience (2/10): Overall user experience is negative, with many traders expressing frustration over withdrawal issues and poor customer service.
In conclusion, the BSB Global review paints a concerning picture of a broker that lacks regulatory oversight and has numerous complaints from dissatisfied users. Potential traders should exercise extreme caution and consider alternative, regulated brokers to ensure the safety of their investments.
