Bikexplus is a forex and CFD broker that claims to offer a wide range of trading products and services. However, there are a number of red flags that suggest that Bikexplus is a scam.
Company Overview
Bikexplus is a relatively new broker, founded in 2022. The company is registered in the Marshall Islands, an offshore financial center with lax regulations. Bikexplus does not have any licenses from any reputable financial regulatory authorities.
Does Bikexplus Have Any License?
No, Bikexplus does not have any licenses from any reputable financial regulatory authorities. This is a major red flag, as it means that the broker is not subject to any oversight or regulation.
Is Bikexplus Regulated By Any Authority?
No, Bikexplus is not regulated by any authority. This means that there is no governing body to protect investors from fraud or abuse.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is user-friendly.
- The spreads are competitive.
Cons:
- The broker is unregulated.
- There are no customer reviews available.
- The website is full of grammatical errors.
How Does Bikexplus Reach To Their Prey?
Bikexplus uses a variety of methods to reach out to potential victims. These methods include:
- Placing ads on social media and search engines.
- Contacting people through cold calls or emails.
- Offering free trading signals or webinars.
Technical Details
Minimum Deposit:
The minimum deposit at Bikexplus is $250.
Trading Platform:
Bikexplus offers a web-based trading platform that is powered by Spotware Software. The platform is user-friendly and easy to use.
Spread:
The spreads at Bikexplus are competitive. The average spread for EUR/USD is 1.0 pips.
Leverages:
Bikexplus offers leverage up to 1:100. This means that you can control a position worth 100 times your deposit.
Packages and Products They Offer
Bikexplus offers a variety of trading products, including forex, CFDs, and cryptocurrencies. The broker also offers a variety of trading accounts, including a demo account and a live account.
Withdrawal and Deposit Method
Bikexplus offers a variety of withdrawal and deposit methods, including credit cards, debit cards, and wire transfers. The minimum withdrawal amount is $250.
What Do Their Previous Traders Say?
There are no customer reviews available for Bikexplus. This is a major red flag, as it suggests that the broker is not trustworthy.
Summing Up- Why Should Not You Trust Bikexplus
There are a number of reasons why you should not trust Bikexplus. These reasons include:
- The broker is unregulated.
- There are no customer reviews available.
- The website is full of grammatical errors.
- The broker uses aggressive marketing tactics to lure in victims.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Bikexplus, you may be able to recover your funds through a chargeback or a refund. You can also contact a financial recovery firm for help.
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Final Thoughts
Bikexplus is a scam broker that should be avoided. If you are considering trading with this broker, I urge you to reconsider. There are many legitimate brokers out there that you can trust.
If you are looking for a legitimate forex broker, I recommend that you do your research and choose a broker that is regulated by a reputable financial authority. You can find a list of regulated brokers on the website of the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).
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