Buffets.Finance review – 5 things you should know about buffets.finance

Buffets.Finance review – 5 things you should know about buffets.finance

Rating: 1

Beware! Buffets.Finance is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Forex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

It takes a careful reader to go through the texts and claims that Buffets.Finance offers on its site to learn about this entity. This is a broker that seems to offer a lot, but it only seems like it. If Buffet.Finance were a salesman it would be one that wouldn’t shut up for fear of someone asking a question. As for the services themselves, we have significant proof to claim that they are irrelevant. As the review will reveal, Buffet.Finance is a confused shady broker that really has no clue what’s going on.

Going head forth into the registration, we realized that this was the typical scammer registration process, and the same thing can be said of the user area; we have seen this template being used hundreds of times by previous offshore brokers.

From all the bad, came something good: a web trader. There we learn that users can trade with forex currency pairs, stocks, metals, commodities, cryptocurrencies, indices, and energy, although we do not endorse trading with Buffet.Finance. The EUR/USD spread is 0.6 pips, which is pretty good but again trading here is a risk as the review will reveals. The leverage is capped at 1:300.

One thing that we must mention is the staggering discrepancy between the website and the user area; it’s as if though these are two entirely different entities. The site claims to be a crypto broker, while the web trader reveals so much more options than that. At times, Buffets.Finance doesn’t even behave like a broker but rather a different entity that seems not to be buried in broker stuff but with some irrelevant trading signals and financial advice.

BUFFETS.FINANCE REGULATION AND SAFETY OF FUNDS

There is an alleged ASIC license that supports the broker. The supposed holding company that opeartes Buffet.Finance is INVEST PTY LTD, and it actually is regulated by the Australian license issuer. However, we later found out, after a long period of research that Buffet.Finance uses the information of another broker’s website, in order to fake its own legitimacy. In other words, Buffet.Finance is a cheat. It copies from a different source crucial details. And even if we did not spend time doing supplementary research, we could have never trusted Buffet.Finance’s claim to be licensed; there are too many negative sides and unanswered questions to be taken into consideration.

We find no further details in support of a legit Buffet.Finance. In essence, Buffets.Finance is a fraud, and is unregulated. It’s also a scam and a risk to all.

Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.

BUFFETS.FINANCE TRADING SOFTWARE

This is the web trader we opened:

For those of you that are not aware, this is one of the most overused softwares by unlicensed brokers, due to its easy accessibility. It’s without effort that unlicensed broker acquire it, and it seems relevant enough to be considered a good option by novice users. It’s a win-win situation for Buffets.Finance.

BUFFETS.FINANCE DEPOSIT/WITHDRAW METHODS AND FEES

The payment area is blocked or unavailable for some reason. Here is the message we got:

This is confusing. How is Buffets.Finance expecting to further its scam without a payment area? Has Buffets.Finance given up, or has it moved to other fraudulent projects? We have no answer for our users, for we are as baffled as you are.

What’s even more confusing is that there are absolutely no payment details on the website, leaving us and potential users in the dark. This is a very bad move by Buffets.Finance who seems to have given up at this point.

It seems that Buffets.Finance doesn’t even know the basic of a scam… whatever Buffets.Finance is is up for debate, but it would be a waste of time to discuss it. Just stay away from this one!

HOW DOES THE SCAM WORK

Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.

First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.

The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.

When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.

WHAT TO DO IF SCAMMED

The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.

Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.

Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.

Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite
Cyprus4.75/5$5 Click for a special offerWebsite

3 Comments

  1. I am in a process to fund more than the original $250.
    Because I was curious about such scam, they offered a wallet for withdrawals.
    I may try to do a yield so far to test it, but obvious it is also possibility to scam later.
    I also understand brokers suppose to be highly “Regulated” How can I obtain that regulation from them – to put the on the spot!
    Is wallet any indication of such compliance?

  2. I just got off the phone with this very scammer. I had him on speaker and as he spoke and we chatted pleasantly, I googled the company…surprise it’s a scam!
    $250 of mine they didn’t get haha.
    A**holes.

  3. Why the hell are facebook letting them advertise!!!
    Facebook should be held accountable!!

Leave a Reply

Your email address will not be published. Required fields are marked *