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Buxberg Review | Dedicated Services or a Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 3
Buxberg - logo

Buxberg brokerage offers to focus on what matters with its dedicated services, including comprehensive resources and a seamless trading experience. Under “what matters,” it apparently refers to successful trading in CFDs. However, how can traders focus on the main thing if the broker doesn’t even have a license? It also hides the date of foundation, registration documents, office address, and business model. The main goal of our review is to find out whether the firm is worthy of providing brokerage services or if it is another scam project. If you are interested, join us.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://buxberg.com/
🎲 Demo Account No
⏳ Start Time
💲 Minimum Deposit $2,500
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail info@buxberg.com
📞 Phone +18007875082

First Impression of Buxberg.com

The official website does not look like a typical, template broker resource. The firm has provided exhaustive information regarding the service and trading conditions, but forgot to tell more about its activities in detail. Buxberg has overlooked a lot of important information that should be on the site for review.

Buxberg - site

At the top, there is a standard panel that introduces the visitor to the conditions, platforms, advantages of the company, additional services, and contacts. In terms of graphic design, Buxberg did not resort to flashy and stylish design, so we see a standard design with small inserts of images related to the financial markets industry.

Partnership and Bonuses

Neither the affiliate program nor the bonuses are disclosed on the company’s official website. However, both opportunities are offered at Buxberg. It seems strange that there is no mention of this. For example, the presence of an affiliate program can only be known at the moment of account creation, as the system requires entering a referral code, if any. Bonus promotions are briefly mentioned in the user agreement. However, the terms on which such opportunities are offered are unknown.

Account Opening on Buxberg.com

The broker promises that opening an account will take no more than 5 minutes. To do this, it is enough to fill out a form with personal data: username, email address, phone number, country, detailed address, account currency, and referral code. It is also necessary to agree to the terms. Why Buxberg requires the address of residence, if it does not need to be confirmed at the stage of registration with the relevant documents, we do not understand. Wouldn’t it be easier to allow customers to provide all the data during the verification process?

Registration

It was not possible to register. The system issues an error with a failed request and asks either to submit the request again or to contact Buxberg managers. A new request with different data did not help.

Fail registration

Apparently, at the moment, registration with the broker is closed. We tried to solve the problem through online chat, also checking how quickly they responded there. However, we did not receive any response from the technical support staff. By the way, it seems that Buxberg does not even offer to try their service on a free demo account.

Verification

The website features policies related to KYC and AML. In short, Buxberg adheres to AML & KYC policies and thus requires all clients to provide proof of their identity and place of residence. This could include photos/scans of a passport or driver’s license, and proof of residence, a bank statement, residential certificate, government-issued lease contracts, or a utility bill not older than six months. Additionally, the broker asks for a photo/scan of the bank card used for account funding. It’s necessary to cover several digits of the card number and the CVV for security purposes.

Documents can be uploaded through the personal account or sent to the email of the technical support. However, Buxberg does not disclose the time frame for the KYC review.

Pros
  • There is a document explaining the KYC policy.
Cons
  • The broker requires a photograph of the bank card.
  • The document processing time is unknown.

Trading Software

Since it’s impossible to create an account, we cannot verify what the trading terminal in Buxberg is actually like. We can only rely on the description presented on the company’s official website. It is not the best idea, but there’s no alternative.

Unsurprisingly, the broker describes its platform as one of the best and most advanced, talking about numerous advantages and diverse capabilities. The terminal is available in the form of WebTrader, Mobile Trader, and Tablet. Buxberg describes the following features and options of its platform:

  • One-click trading and various types of order execution.
  • Multiple types of charts and multicharts.
  • Tools for technical and graphical analysis, including indicators.
  • Ultrafast execution.

Terminal

It’s unlikely that the platform can compare with popular alternatives. More likely, Buxberg offers a highly simplified and primitive solution, unsuitable for professional and serious trading. There’s no mention of auto-trading, copy-trading, and we’ve already mentioned the demo account above.

Features Buxberg Tools4Deals High BTC Stock
Demo Account
Mobile App ✔️
Own Development

How Can I Trade With Buxberg?

The broker has access to more than 2000 assets of various classes: major, minor, and exotic currency pairs, commodities, stocks, indices, metals, and cryptocurrencies. To increase trading volumes, users can use leverage up to 1:400. Next, let’s look at the types of accounts available

All Info About Accounts

Buxberg has developed several types of accounts for its traders with different conditions:

  1. Beginner. Requires a minimum deposit of $2,500. Basic market access, daily analysis, and minimal features, including mobile trading, no extra fees, and one-click trading.
  2. Standard. At least $5,000. The same rate as Beginner, but with the option of swap-free.
  3. Intermediate. The minimum deposit is $25,000. Additionally includes market coverage.
  4. Advanced. From $50,000. Personal manager assistance is available.
  5. Integral. From $100,000. A wider range of markets is available, now with full access. All trading strategies are also allowed.
  6. VIP. At least $250,000. Custom market access, private instant support, VIP personal manager, and special event invitations.

Account types

The spread size and type are undisclosed. A commission of $0 for transactions is mentioned, but this needs clarification: which transactions does it refer to – funding/withdrawals or trading operations? In any case, Buxberg appears to be a typical dealing desk. This business model is unsuitable for traders because the company isn’t interested in client success; rather, it profits from user losses.

Additionally, the minimum deposit amount of $2,500 is striking. It’s quite unpopular among experienced, proven, and popular brokerage intermediaries to set such requirements. Usually, the minimum deposit is no more than $100, or the firm offers a cent account, allowing clients to try the service with a small amount. In Buxberg, there is no cent account, nor is there an ECN. Swap-free is only available with a deposit of $5,000 or more – another unclear and illogical condition. An Islamic account should not depend on the account balance.

A leverage of 1:400 hardly indicates a legal broker. As is known, financial regulators prohibit offering leverage higher than 1:30-1:50.

Pros
  • Not found.
Cons
  • Spreads are not specified.
  • High minimum deposit.
  • No demo account is available.

Market Analysis and Education With Buxberg.com

The broker promises to provide clients with free educational materials: a knowledge base, learning resources, and guides. In addition, Buxberg offers analytics, an economic calendar, trading hours, and futures contract expiration dates. Other features are described in the tariff plans.

In reality, it is a very meager additional service. It’s unclear how the broker plans to compete with other firms offering a variety of features, such as copy-trading, signals, or auto-trading.

Deposit, Withdrawal, and Fees

Buxberg claims zero commissions, but the reality remains unclear. Processing time for withdrawal requests is uncertain, ranging from 1 to 7 working days. There’s no list of supported payment systems, but judging from the icons on the official website, the firm offers deposits and withdrawals via Visa/Mastercard. Additionally, there’s a mention of bank transfers. And what about cryptocurrencies and electronic wallets?

Features Buxberg Aegis Corporate Financial Services SkillsTech
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

There are several ways to contact Buxberg’s managers: a phone number with a U.S. or Canadian area code, email, online chat, and social media accounts.

We’ve already established that online chat support doesn’t respond. Whether they can be contacted by email or phone remains a mystery. Also, the company has almost no followers on social media, with only 9 Instagram followers.

Pros
  • Basic communication methods are available.
Cons
  • The likelihood of receiving a response from support is extremely low.

Is Buxberg Dangerous?

The trading conditions don’t resemble those of a loyal, profitable, and proven brokerage company. Additional concerns arise from closed registration, which also requires contact with support staff. Although Buxberg doesn’t currently appear to be a 100% scam, there are indications of it. Next, we need to examine the broker’s operating period and its licenses.

How Long Does The Broker Work?

When Buxberg was founded is an interesting question with no answer on the company’s official website. Why does the firm hide its founding date? Online reviews are scarce, hinting at the organization’s unpopularity and short operating period. The domain of the official website was registered in 2020, and social media accounts appeared in 2022.

Domain

We’ll try to seek help from WebArchive. Perhaps some snapshots will provide additional information. In 2021, the domain was for sale, but by the summer of 2022, the website began to show a platform and brokerage services.

Webarchive

How Is Buxberg Regulated?

Buxberg doesn’t even mention licenses, and it’s unclear where to check the company’s regulation, as there is no legal address provided. The sheer absence of a legal address is a significant red flag. Unlikely, an honest and transparent brokerage organization would conceal its offices and licenses.

Features Buxberg Global ICM Xtrader365
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Buxberg?

At the time of writing this review, registration appears to be closed because an error message redirects to customer support when trying to create an account.

Is Buxberg Legit?

The broker has no license, hides its legal address, and doesn't show registration documents. These are clear signs of illegal activity.

How Risky Is It?

There's a 100% risk for traders. The company cannot be called safe or reliable. The main risk with such pseudo-brokers lies in the impossibility of refunding funds.
Kevin Berry
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Expert Opinion

Has anyone ever seen a regulated broker hide its registration address, documents, and other information about itself? It is my first encounter with a brokerage firm that doesn’t even specify its country. There’s no doubt about Buxberg’s fraudulent activities. Moreover, the firm demands a hefty initial deposit of $2,500 – who are they to ask for such large sums? Where is the demo account? Why are the trading conditions so terrible and unfavorable? I sincerely hope that no one has fallen for this scam scheme and handed over their money to these brazen scammers.

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Buxberg rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Buxberg

Call November 7, 2023 - 08:14
I agree, it's a fraud
The level of trust
Quick withdrawal of funds

Buxberg is a place of fraud and fake trading. The broker’s trading platform is not genuine, just like the trading itself. There are no licenses, and legally the firm isn’t even registered. Judging by Instagram, the scammers have stopped operating and moved to a new scam site, as their last activity was a long time ago. There is nothing safe here, and there are no guarantees. And it’s even good that registration is currently impossible here. Newbies shouldn’t be giving their money to scammers.

Reply
TronTRX November 23, 2023 - 01:49
For some reason I'm not getting an answer
Efficiency of technical support

I’m trying to contact customer support, but no one is responding. Is this normal? How well does the broker service its clients? Should I be looking for another platform for Forex trading?

Reply
Alex Sandwink December 4, 2023 - 15:29
Scammers have created a fake site, nothing new.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Another scambroker project. There’s nothing here but a fake broker created to deceive people. The Forex industry is filled with such fraudulent platforms that only appear to be safe companies but are actually fraud traps. I don’t recommend even trying to create an account with Buxberg. What’s the point? You won’t learn anything new, as there’s no demo account. Want to invest and definitely lose $2.5K? Better donate the money to charity – it will be more useful.
The firm doesn’t have a license, and its legal address isn’t mentioned. According to internet sources, the broker previously indicated Hong Kong as its place of registration, but this is a clear fake. Also, there’s a lot to be said about the business model here, which is 100% a b-book. In summary, the conclusion is negative.

Reply

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