Abstract：Is your forex trading experience with Billionext a disappointment? Do you have to wait for three months or more to receive withdrawal access? Feeling annoyed with constant calls from the broker executives to deposit funds? Constantly losing your invested capital because of the restricted withdrawal access? It is like a never-ending trauma for your fellow traders at Billionext, the Virgin Islands-based forex broker. In this article, we have revealed the scams its traders face. Take a look!
Is your forex trading experience with Billionext a disappointment? Do you have to wait for three months or more to receive withdrawal access? Feeling annoyed with constant calls from the broker executives to deposit funds? Constantly losing your invested capital because of the restricted withdrawal access? It is like a never-ending trauma for your fellow traders at Billionext, the Virgin Islands-based forex broker. In this article, we have revealed the scams its traders face. Take a look!
Here are the Forex Scam Allegations Billionext Face
Withdrawing Funds is Too Big a Hassle Here
Most trader complaints centre around the lack of withdrawal access. Traders usually report long pending withdrawal requests, indicating their utter disappointment over the abysmal trading experience. Here are some complaints regarding the withdrawal issue.
Immense Deposit Pressure on Traders
Traders constantly get calls from the broker officials to deposit funds regardless of whether they are able to withdraw their earned profits. This indeed spoils their trading mood as most fail to remain profitable. At the same time, traders cannot withdraw profits if they receive a bonus, which is credited upon every deposit. This operational style paints a scary picture for traders. Here is a sharp accusation against Billionext. Take a look!
The Capital Loss Complaint
A trader switched to Billionext, hoping for smoother withdrawal access. However, the situation did not change as the trader faced withdrawal issues, leading to capital losses and overall financial strain. Here is what the trader said about the capital loss.
High Commission Drains Out Capital for Traders
A trader has alleged that Billionext charges a commission as high as 30% when withdrawing funds. The sad part is that traders are told about the charge when they look to withdraw funds. Here is a screenshot explaining the disappointment of the trader.
The Score for Billionext
Billionext could only get 1.52 out of 10 from WikiFX, a leading broker regulation inquiry app. The reasons for a poor score are evident - the growing number of scams. The scams happen because the broker is unlicensed, freeing it from complying with investor-pro regulations. To improve its score, Billionext will need to gain the license first and then conform to regulations.
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