BBSlimited Review: The Known Facts About This Platform
BBS Limited is not as slick as presented on the broker’s website. Behind the cunning facade lies a dark secret, which we plan to expose in our BBSlimited Review.
First, we shall outline all the facts we gathered about this dubious platform and then present our arguments as to why you should avoid it. Trading is not an easy venture so be sure to pick a safe environment!
Why We Do Not Trust BBSlimited and Its Promises
Distinguishing a reliable broker from a fraudster can sometimes be challenging. That is why we have provided some guidelines in the table below.
The burning issue we have with BBS Limited is that the platform is not regulated by a financial market watchdog. On the website, we read that this business is based in Earlston, Scotland, UK. However, this broker is missing a trading license.
|Broker name||Reliable Broker Must Have|
|Legal name:||BBS Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation:||Unregulated Scam Broker||Within your legal jurisdiction – local regulator|
|Registered in:||UK (allegedly)||Your country or the country whose license applies in your legal jurisdiction|
|Established:||2023-01-31||The older the domain – the higher the possibility the company is trustworthy|
|Website:||bbslimited.co||Domain should be from local or international zones, no .xyz etc.|
|Financial Authorities Warnings:||None||None|
|Contacts:||Phone, email||Phone, email, social media, web form|
|If withdrawal is possible:||Highly unlikely||Yes|
|Fees:||N/A||Transparent fees – list of spread and commissions|
|If Active on Social Media:||Not active||Often present on social media|
|Investor Protection:||No protection||Compensation fund|
As mentioned in the previous section, BBS limited is not regulated. Why is that a problem? Because a safe trading environment can only be guaranteed by a top-tier financial market regulator. In this case, we have one of the greatest regulators in the world – the UK’s Financial Conduct Authority (FCA).
Upon checking the register of the fca, we noticed that there is a certain BBS LTD registered in Scotland. However, this entity has absolutely no connection with the trading platform we are analyzing. The address and phone number are different too.
Therefore, it is evident that BBSlimited is unregulated and dangerous. We advise you to stay away from such platforms and especially avoid anonymous brokers like tigersfm.
BBSlimited claims to offer an easy-to-use trading platform with the option of automated trading. Yet, the broker did not go into detail about the platform, i.e. didn’t specify which software it is, whether there is a mobile trading app, etc.
Note that automated trading is available on platforms such as MT4, MT5, and cTrader. Even if the broker did offer these trading tools, we cannot forget about the fact that BBSlimited is unregulated.
As far as trading instruments go, BBSlimited offers Forex currency pairs, cryptos, and CFDs on popular assets such as indices, commodities, metals, and stocks. There is just one live account type and no demo account, which is a red flag. Legit brokers always offer risk-free demo accounts.
|Account types:||Single live account|
|Financial Instruments On Offer:||
|Minimum Deposit:||250 EUR|
|Demo account:||Not available|
|Education or Extra tools:||N/A|
Is This Broker Safe?
No, and you already know the reason – no trading license. Without the FCA overseeing the broker’s business, you’d be risking your hard-earned money for nothing.
The UK is a reputable jurisdiction for trading since the FCA requires licensed brokers to offer clients negative balance protection, segregate their funds in a top-tier bank, set a safe leverage restriction (1:30), and provide them with a compensation scheme of up to 85,000 GBP. That’s why we recommend you find a legit company to trade with.
If you lost money to the BBSlimited Scam, you can contact us for help. Book your consultation with us today.
Trader Reviews – Sharing Experiences
BBSlimited claims that this business has been running for five years but the website was created in January of this year. So the broker has basically been active for six months. On trustpilot.com, we found 10 five-star reviews for this platform.
I’ve been with BBS for 9 months and so far I’m very satisfied, the support resolves inquiries quickly.
- Trustpilot user, March 23, 2023.
This trader says that he/she has been using the platform for nine months, which is not possible. This questions the legitimacy of all the reviews on Trustpilot. It could all be fake, bribed by the broker to leave positive feedback. Take them with a grain of salt.
How the BBSlimited Platform Reaches Clients and Who Are They?
According to godaddy.com/whois, the BBSlimited website domain was created on January 31, 2023, as we previously emphasized. Since then, the illicit broker has mainly been offering services to traders from the following countries:
BBSlimited has no social media, which are common tools for finding victims. There is only a phone number (UK) and an email used for communication with clients.
Do not believe the things BBSlimited says because the platform has no credibility or a trading license to show. Instead, find a reliable broker that operates in a transparent and honest manner. Avoid unregulated entities such as BBSLimited and vertex-market.
If you are a victim of the BBSlimited Scam, we offer our assistance to you. Recover your funds with our help.
Deposits and Withdrawal Methods
BBSLimited said nothing about the deposit and withdrawal process. There is no legal documentation either, which just showcases the carelessness and attitude this broker has toward honestly operating.
That being said, the deposit and withdrawal fees are a mystery. All we know is that the minimum deposit BBSlimited requires is 250 EUR, which is not unusual but still… You shouldn’t risk it. There are many licensed brokers that will charge you even less than that.
Reasons To Avoid This Company
The list of reasons why you should avoid BBSlimited is pretty long. Here, we will stress only our key arguments. It should be enough to deter you from investing in this suspicious platform.
- No legal documentation;
- Trading software not explained;
- Leverage not disclosed;
- Unknown fees.
- No demo account.
Online scams can be tricky. If you lost money to a financial swindler, please contact us for help. We can try to recover your funds.
Our Safe Trading Experts’ Opinion on BBSlimited
To recap, BBSlimited is an unregulated platform claiming to have headquarters in the UK. The main targets of the BBSlimited Scam are traders from the UK, Ireland, and Bangladesh.
The platform cannot be trusted mainly because there is no regulator overseeing it. Instead, we offer to help you find a trading platform that suits your needs, experience, and knowledge. Also, we can help you recover your hard-earned money, if you are a victim of cyber fraud.
If you need help choosing the right broker that fits your trading style and preferences, contact us today!
What Is BBSlimited?
BBSlimited is a trading platform that offers users to trade Forex currency pairs, CFDs on popular assets (indices, stocks, commodities) and crypto tokens.
Is BBSlimited Regulated?
BBSlimited is not regulated, implying that this platform is not safe. It’s most likely a scam, which is why you should contact experts such as us if you need help getting a refund.
Who Is The CEO Of BBSlimited?
BBSlimited claims that the CEO is T. Johnson. This person is fictional. BBSlimited lied about the whole staff.