BVB Trade Defrauded Investors with Attractive Profits

Forex beginners often seek advice from experienced mentors, hoping their expertise can help them make more profits and less mistakes. However, such mentors are not always reliable, as shown by an investor’s recent trading experience at BVB Trade. The illegal Forex broker defrauded investor with online lectures of so-called Forex mentors.

Mr. Liu’s ID card

 “Pennies from the heaven”?

According to Mr. Liu, he was invited to join a WeChat group this May, which he didn’t pay much attention to at first. Later, more investors joined the group, including many experienced ones, and someone recommend him a live stream about investment. Feeling tempted by the efficient high profits which the lecturer promised in his enticing speeches, Mr. Liu made a deposit and traded according to lecturer’s teachings as he lacked Forex experience. Though he made a profit at first, he eventually suffered loss as the illegal broker showed its true color.

Mr. Liu’s deposit record

BVB Trade’s illegal act was revealed

On May 20th, Mr. Liu made a withdrawal request for personal reasons, which was later rejected by the platform repeatedly. He contacted the assistant of the live stream, who attributed the problem to Mr. Liu’s “misoperation”. When Mr. Liu turned to the platform’s customer service on May 27th, he couldn’t log in his trading account at BVB Trade, while the aforesaid assistant continued to ignore his inquiries.

Mr. Liu’s application was constantly rejected

Mr. Liu couldn’t access his trading account

Investor fell into a trap instead

To date, Mr. Liu still can’t withdraw his money. He mocked himself for expecting  “pennies from the heaven”, but ended up in a pitfall instead. In fact, the whole story was suspicious at first, from the WeChat group and investment live stream that was suddenly recommended to him, to Forex mentors and their magic formulas for high profits. Unfortunately, many investors who are too eager to profit in Forex are lured into the traps of illegal brokers by petty short-term profits.

In the end, Mr. Liu hopes WikiFX can expose more illegal brokers like BVB and reminds Forex investors, especially beginners, to carefully check a broker’s compliance and stay away from unregulated illegal brokers. Moreover, investors should never blindly trust the “investment mentors” online.