Beware! Bbslimited is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Bbslimited is a not very convincing attempt by an anonymous fraudulent website to pose as a legitimate investment firm. But insofar as this type of scam targets people who lack experience and knowledge of financial trading, it will be useful to examine how to distinguish them from legitimate brokers.
Bbslimited Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.
We can assume that the company behind this website is called BBC Limited, but this is not actually stated anywhere. Nowhere are the details of the legal entity and regulatory licence given. There are no Terms and Conditions, Customer Agreement or other mandatory documentation.
The website lists a contact address in Canada, but we cannot find Bbslimite among brokers licensed in that jurisdiction.
Moreover, the financial authorities in the province of Quebec have posted an explicit warning that this website is not authorised.
Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.
You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.
In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.
Bbslimited Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
On the website we see images of trading software, but we have not been able to verify if any trading platform is available.
The reason for this is that account registration requires a promo code. Financial scammers sometimes prefer to handpick their potential victims through social networks and online forums, which is why they do not allow free registration. Genuine brokers allow easy Demo account creation.
Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Bbslimited Trading instruments
Bbslimited claims to offer trading with CFDs on Forex, Stocks, Commodities, Crypto, Indices and Options. But even if this unregulated website has some trading software, the lack of a licence means that this trading is bogus, not real.
Bbslimited Spreads and cost of trading
Bbslimited does not provide any information about the trading conditions it claims to offer. Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.
Bbslimited Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.
Bbslimited Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Bank wire||2-5 business days||2-5 business days||$25+|
|Credit card||Instant||24 hours||Free|
|PayPal||1 hour||24 hours||2%|
|Skrill||1 hour||24 hours||2%|
|Neteller||1 hour||24 hours||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Due to our inability to register an account, we were unable to ascertain what payment methods Bbslimited uses. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.
Bbslimited Minimum deposit
The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady websites like Bbslimited.
Bbslimited Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Bbslimited||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Since Bbslimited does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.