Boxminer is a cryptocurrency trading platform that claims to offer a variety of services, including spot trading, margin trading, and derivatives trading. However, there is a growing body of evidence that suggests that Boxminer is a scam.
Company Overview
Boxminer is a relatively new broker, having been founded in 2022. The company’s website is poorly designed and does not provide much information about its team or its trading conditions. The only contact information listed on the website is an email address.
Team
The team behind Boxminer is anonymous. There is no information about the company’s founders or its management team on the website. This is a red flag, as legitimate brokers should be transparent about who they are and who is running the company.
Services or Products
Boxminer claims to offer a variety of services, including spot trading, margin trading, and derivatives trading. However, there is no way to verify these claims, as the company’s website does not provide any real-time market data or trading history.
License and Regulations
Boxminer is not regulated by any financial authority. This is a major red flag, as unregulated brokers are more likely to be involved in fraudulent activities.
License Status
Boxminer does not have a license to operate in any major financial jurisdiction. This means that the company is not subject to any oversight or regulation.
Regulation Status
Boxminer is not regulated by any financial authority. This means that the company is not subject to any rules or regulations that are designed to protect investors.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. Unlicensed brokers are more likely to be involved in fraudulent activities, such as:
- Using fake trading software to manipulate prices
- Withholding customer funds
- Disappearing with customer funds
Legal Warning Against Boxminer
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Boxminer. The FCA warns that Boxminer 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 a number of complaints about Boxminer online. Some users have reported that they were unable to withdraw their funds from the platform, while others have said that they were contacted by fake customer service representatives who tried to scam them out of more money.
Feedback About Their Trading
The trading conditions offered by Boxminer are not transparent. The company does not disclose its spreads, fees, or commissions. This makes it difficult to assess the true cost of trading with Boxminer.
Feedback About Their Customer Service
The customer service offered by Boxminer is reportedly poor. Users have complained about long wait times and unhelpful representatives.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Boxminer or another broker, there are a few things you can do:
- Report the scam to the relevant authorities.
- File a complaint with a financial ombudsman.
- Try to recover your funds through a chargeback or other legal means.
You can contact Reviews Advice to get help. Our experts will analyze the case and then will provide you with a free consultation call. During the call, you will get some recovery service recommendations to help in recovering the lost funds.
Final Thought
Boxminer is a scam broker. There is no evidence to suggest that the company is legitimate. If you are considering trading with Boxminer, we urge you to reconsider. You are putting your money at risk. If you think you have been scammed, contact the relevant authorities immediately. You can also contact us if you have any confusion.
