Bix Token is a cryptocurrency exchange that was founded in 2017. The exchange is based in Hong Kong and offers a variety of features, including spot trading, margin trading, and staking. However, Bix Token has been accused of being a scam broker.
Company Overview
The exchange does not have a clear legal entity or regulatory status. Bix Token is not registered with any financial regulator, including the Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA).
Team
The team behind Bix Token is anonymous. We did not find any details about their management, founder, or any other team member details.
Services or Products
Bix Token offers a variety of services and products, including:
- Spot trading: Users can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
- Margin trading: Users can trade with leverage up to 10x.
- Staking: Users can earn rewards by staking their BIX tokens.
- Bix Token (BIX): The native token of the Bix Token exchange. BIX tokens can be used to pay for trading fees and to participate in staking.
License and Regulations
Bix Token is not licensed by any financial regulator. This means that the exchange is not subject to any regulatory oversight. This lack of regulation makes it a risky proposition for investors.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same level of oversight as regulated brokers. This means that they are more likely to engage in fraudulent or unethical practices. Second, unlicensed brokers may not have the financial resources to cover their customers’ losses in the event of a default. Third, unlicensed brokers may not be able to provide their customers with the same level of customer service as regulated brokers.
Legal Warning Against Bix Token
The Securities and Exchange Commission (SEC) has issued a legal warning against Bix Token. The SEC has warned investors that Bix Token is a scam and that they should not invest in it.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Bix Token online. Some users have complained about the exchange’s high trading fees and poor customer service. Others have alleged that the exchange is a scam and that they have lost money by trading on it.
Feedback About Their Trading
Users have complained about the high trading fees on Bix Token. The exchange charges a maker fee of 0.1% and a taker fee of 0.15%. This is higher than the fees charged by many other cryptocurrency exchanges.
Feedback About Their Customer Service
Users have also complained about the poor customer service on Bix Token. The exchange has been accused of being unresponsive to customer inquiries. Some users have even alleged that they have been scammed by the exchange’s customer support team.
How Can Reviews Advice Help You If You Get Scammed?
If you have been scammed by a cryptocurrency broker, there are a few things you can do. First, you should file a complaint with the SEC or your local financial regulator. You should also contact your bank or credit card company and dispute the charges.
Finally, you can contact us to get quick help. When you submit your case through our website form, we will evaluate the case and will provide you with a free consultation and service recommendations to help you recover the lost funds.
Final Thought
Bix Token is a risky cryptocurrency exchange that should be avoided. The exchange is not licensed by any financial regulator and has been accused of being a scam. There are a number of negative reviews about Bix Token online. If you are considering trading on Bix Token, we urge you to reconsider.
