WikiFX Review: what you should know about Bnbfastmining

The currency market, which is filled both opportunities and risks, is unpredictable. While many investors have gained considerable returns after investing in the forex market, those who suffered great losses have learned painful lessons. Today, WikiFX is going to review a forex broker named Bnbfastmining (bnbfastmining.com) for investors and traders.

First let's search “Bnbfastmining” on WikiFX APP to take a look at the details page. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/5503929442.html), Bnbfastmining currently has no valid regulatory license and the score is rather negative - only 1.00/10. WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

WikiFX also paid a visit to the brokers website to learn more. Bnbfastmining claims to be regulated by two leading European financial regulators – the Cyprus Securities Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).

However, the company was nowhere to be found in the database of the FCA – which means that they are not regulated in the UK.

A company with that license number did show up in the register of CySEC – but it was not the one behind Bnbfastmining. The broker regulated by the Cypriot authority was Etoro – one of the biggest, most established brokers on the market.

One thing is certain – Bnbfastmining has nothing to do with Etoro. These scammers are just using the license information of the legitimate broker and are trying to fool you into thinking that they themselves are legitimate. Nothing could be further away from the truth. A broker using somebody elses license numbers is most certainly running some sort of scam.

Furthermore, Bnbfastmining does not really offer a functional trading platform – when we opened an account with the broker, we discovered that all they have in store is a simple chart that tracks market prices. Such a thing can certainly not be used for any sort of trading – that makes opening an account with this broker completely pointless.

What is even more outrageous is that this broker claimed that it offers MetaTrader 4 – an advanced trading platform that has been an industry staple for years.

In addition, Bnbfastmining only accepts Bitcoin deposits which is one of the biggest red flags out there. All crypto transactions are both anonymous – they can only be traced to a wallet, not to a person. What is even more important is that they are irreversible – so once your payment goes through, you would not be able to get a chargeback. For these reasons, a huge number of scammers would urge you to deposit in crypto – only use this deposit method with people and organizations that have proven to be reliable. Otherwise, you might be stuck in a situation where you are deprived of all chances of retrieving your money.

To conclude, Bnbfastmining is a scam broker – one trying to use a licensed company‘s license information in order to attract clients. They are not regulated themselves and have not even stated exactly where they are based. Moreover, they do not offer access to the financial markets since they do not offer any sort of functional trading software. The final nail in Bnbfastmining’s coffin is the fact that they only accept Bitcoin deposits – which means that if you transfer money to the broker, you would never be able to get it back. Stay away from Bnbfastmining – investing with them will most certainly lead to losses.

For any forex broker-related enquiries, simply log on to https://www.wikifx.com/en/ or download the free WikiFX mobile application on Google Play/App Store and get all the verified and relevant broker information at your fingertips. With just a few swipes you will be able to easily review, survey and compare to determine the reliability of your chosen forex brokers!