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.
Table of Contents
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
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.
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?
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.
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.
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.
- There is a document explaining the KYC policy.
- The broker requires a photograph of the bank card.
- The document processing time is unknown.
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.
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.
|High BTC Stock
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:
- 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.
- Standard. At least $5,000. The same rate as Beginner, but with the option of swap-free.
- Intermediate. The minimum deposit is $25,000. Additionally includes market coverage.
- Advanced. From $50,000. Personal manager assistance is available.
- Integral. From $100,000. A wider range of markets is available, now with full access. All trading strategies are also allowed.
- VIP. At least $250,000. Custom market access, private instant support, VIP personal manager, and special event invitations.
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.
- Not found.
- 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?
|Aegis Corporate Financial Services
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.
- Basic communication methods are available.
- 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.
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.
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.
Frequently Asked Questions (FAQ)
How to Trade With Buxberg?
Is Buxberg Legit?
How Risky Is It?
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.