BIBOXOTC is a cryptocurrency exchange that claims to offer over 100 cryptocurrencies and tokens to trade. However, there is growing evidence that BIBOXOTC is a scam broker.
Company Overview
BIBOXOTC is not registered with any financial regulator. The company’s website does not provide any information about its team or management. The only contact information provided is an email address.
Services and Products
BIBOXOTC offers a variety of trading features, including margin trading, spot trading, and derivatives trading. However, the company’s trading fees are high, and there are reports of users being unable to withdraw their funds from BIBOXOTC.
License and Regulations
BIBOXOTC is not licensed by any financial regulator. This means that the company is not subject to any oversight or regulation. This makes it a risky proposition for investors, as there is no guarantee that BIBOXOTC will not collapse or steal their funds.
Why Dealing With An Unlicensed Broker Is Risky?
There are several reasons why dealing with an unlicensed broker is risky. First, unlicensed brokers are not subject to any oversight or regulation. This means that they can operate with impunity and there is no one to protect investors if they lose money.
Second, unlicensed brokers often use high-pressure sales tactics to lure investors into making trades. They may also make false promises about the potential returns of their investments.
Third, unlicensed brokers may be involved in fraudulent activities, such as Ponzi schemes or pump-and-dump schemes. This means that investors could lose all of their money.
Legal Warning Against BIBOXOTC
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against BIBOXOTC. The FCA warns that BIBOXOTC is not authorized to provide financial services in the UK and that it is likely to be a scam.
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 several complaints about BIBOXOTC on social media and review websites. Some users have reported being unable to withdraw their funds from BIBOXOTC. Others have reported being scammed by the company.
Feedback About Their Trading
The trading platform offered by BIBOXOTC is slow and unreliable. There have been reports of users’ orders being executed incorrectly or not at all.
Feedback About Their Customer Service
The customer service offered by BIBOXOTC is poor. Users have reported having difficulty contacting customer support and getting their issues resolved.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by BIBOXOTC or another unlicensed broker, there are a few things you can do. First, you should report the scam to the relevant authorities. In the UK, you can report the scam to the FCA.
You should also try to get your money back. This may be difficult, but there are a few things you can do. You can try to contact the broker directly and demand a refund. You can also try to file a chargeback with your bank.
Finally, you should contact us to get help instantly. We will analyze your case and will schedule a free consultation call to discuss the options to recover the funds. We will provide some recovery service recommendations to help you in recovering the lost funds.
Final Thought
BIBOXOTC is a scam broker. Do not invest with them. If you have already invested with them, try to get your money back. And learn from your mistakes. Do your research before investing in any cryptocurrency exchange.
