BelleoFX Review: Allegations of Controversial Profit Cancellations & Account Closure

Have your past good experiences been marred by recent cases of profit cancellations by BelleoFX, a Mauritius-based forex broker? Has your trading account been blown away by the broker‘s official upon your refusal to deposit more? Did the broker’s official tell you to deposit more, even if the earlier attempt turned unsuccessful? Did the high-return promise fall flat on the ground? In this BelleoFX review article, we have investigated these allegations. Take a look!

BelleoFX Operation Details: Company Profile, Trading Platforms & Account Types

BelleoFX, founded in 2020, has been a brokerage house offering trading opportunities across a wide range of markets - Forex, Stocks, Indices and Commodities. The broker aims to enhance the trading experience by letting users leverage the advanced MetaTrader 5 (MT5) platform. This platform offers in-depth market insights, one-click trades, along with 30 indicators and 24 graphical objects to spot trends as well as entry or exit points. You can select from three BelleoFX account types - Standard, Swap-Free and Zero Spread. While the minimum deposit for the Standard account is $50, the same for the other two accounts is $1,000.

Top Forex Trading Allegations Against BelleoFX

Good Experience Followed by Non-stop Withdrawal Hassles

A trader, while sharing the BelleoFX review, recounted his overall experience with the broker. While the experience initially, according to the trader, was good on the back of quick deposits, timely withdrawals, and effective customer support. Things began to become bad as the trader earned profits worth $42,000 from as many as 21 disciplined trades across pairs. The broker allegedly dismissed the trader‘s profit, citing insider trading as a reason for this drastic move. However, the trader claimed that the broker did not provide any evidence of such trading. What’s more, the BelleoFX did not respond to any of the traders emails, resulting in this fiery review.

Another Profit Cancellation Claim

A Pakistan-based trader claimed to have deposited USD 504 and opened a sell trade of 31 shares. After making profits of USD 2251.96, the trader looked to withdraw the same. However, the broker allegedly cancelled all the profits, blaming the trader for indulging in fraudulent trading. After constant interactions, BelleoFX offered to return just the deposit amount. Not happy with how things unfolded, the trader made his displeasure known with this negative review.

The Fund Scam Allegation Involving a Fake IB

This complaint talks about a trader who was approached by an Introducing Broker (IB), who allegedly turned out to be a nightmare. While reviewing Belleo, the trader admitted to having lost all of his funds, including both the deposited capital and the profits earned on it, while attempting to withdraw them, within two hours of placing a request. The trader accused BelleoFX of having no transparency and ineffective support while attempting withdrawals, resulting in the balance being wiped out. Aggrieved by the fund loss, the trader shared this negative BelleoFX review.

A Series of Capital Scams by BelleoFX, A Trader Claims

A trader from Australia blamed BelleoFX for fraudulent practices, claiming that after meeting all trading requirements, the broker first removed a bonus from the account and then, the following day, withdrew the entire $5,000 balance — including the trader‘s $1,250 deposited capital. The trader also expressed his willingness to provide MT5 trade history records as proof of his activity. Check out this screenshot that details the alleged fraud in the trader’s account.

Deposit Pressure & Account Blowups

A UK-based trader complained about the constant deposit pressure piled on by the BelleoFX account manager. Upon refusal to add extra funds, the official allegedly had high-volume lot trades in the wrong direction, resulting in an account blowup. Even after changing the password, the trader could only witness losses, as per this complaint shared on a broker review platform. Read on to know the situation even better.

A Serious Deposit-related Discrepancy

A trader from Malaysia highlighted a grim financial incident, claiming that BelleoFX kept demanding for deposits even though the initial attempt to invest on the platform did not materialize. As the trader sought a withdrawal, the brokers official claimed they did not receive funds. Affected by the overall experience, the trader expressed this concern online.

High Return Promises Using an AI-based Trading Boot Fell Flat, This Trader Claims

A Great Britain-based trader highlighted a severe breach in trading norms and conditions, claiming that the broker lured clients using fake promises of guaranteed high returns using AI trading bots. While the initial results showed profits on the BelleoFX login, the account went into negative upon a withdrawal request, resulting in the capital being allegedly wiped out by the forex broker. Take a look at this BelleoFX review to know more about this alleged fraud.

As a matter of fact, forex returns can never be guaranteed. Returns fluctuate based on the trading volume due to both fundamental and technical factors.

Bonus Discrepancies, Withdrawal Restrictions & Questionable Account Management

A trader from the United Arab Emirates expressed disappointment with BelleoFX, alleging that a promised 500% sign-up bonus was not fully honored. According to the trader, a company agent confirmed the bonus offer upon deposit, but after facing multiple failed deposit attempts and eventually completing the transactions, only a 50% bonus was credited instead of the promised 500%.

A trader from the United Arab Emirates expressed disappointment with BelleoFX, alleging that a promised 500% sign-up bonus was not fully honored. According to the trader, a company agent confirmed the bonus offer upon deposit, but after facing multiple failed deposit attempts and eventually completing the transactions, only a 50% bonus was credited instead of the promised 500%.

The trader also claimed that when requesting a partial withdrawal—while leaving sufficient funds to maintain open trades—the platform required all trades to be closed before approving the withdrawal.

Additionally, the complaint warns others against using the brokers alleged account management service, which was promoted through an Instagram-sponsored advertisement (“Think Fine”). The trader alleged that trades were opened automatically, and they were advised not to interfere or risk losing the account. Ultimately, the account was reportedly wiped out, leading to a significant financial loss.

The trader urged others to conduct thorough research and avoid relying on bonus schemes or third-party account management services.

This long BelleoFX review almost sums up the experiences traders allegedly witness here.

BelleoFX Review by WikiFX: Investigating the Brokers Regulatory Status

The growing number of complaints points to this important question: Is BelleoFX real or fake? Putting speculations to rest, the broker is indeed unregulated, elevating investment risks for traders seeking to build a robust financial portfolio through this platform. With no regulatory oversight on BelleoFX, the WikiFX team gave it just 2.33 out of 10.

Stay away from unregulated firms such as BelleoFX. Instead, trust a regulated entity to build a strong forex portfolio. To your help, the new WikiFX app, which shows effective broker comparison, rankings and extensive exposure reports, is up for grabs. Download it by scanning this QR code.