Introduction to Bendigo Coins Review:
Bendigo Coins claims to be the revolutionary breakthrough in the financial market. They proudly accept customers from more than 150 countries and offer a huge variety of tradable assets for them to trade in. However, mere claims are not enough for a brokerage firm to function in the market. FOr a company to offer trade in the industry, they must adhere to the rules set by the regulatory authority they are regulated with. After a thorough investigation conducted by our investigative team, it was found that Bendigo Coins breaks more rules than it follows. If you are here with the intention of knowing whether Bendigo Coins is a scam broker or not, read the full review to know more about Bendigo Coins.
Name: Bendigo Coins
Address: Not Disclosed
Leverage Offered: 1:500
Minimum Initial Deposit: 250 Euro
About Bendigo Coins:
In this section of the Bendigo Coins review, we will be revealing all the red flags raised by Bendigo Coins that point us to the Bendigo Coins scam. Stay tuned to know more.
BENDIGO COINS IS UNREGULATED
The foremost rule for a trade brokerage firm to function and offer trade to potential customers is to have a valid license from the regulatory authority whose jurisdiction the company falls in. Without a license, the brokerage firm is considered no better than a scam broker. In our case, Bendigo Coins does not reveal anything about a license on their website. This was the first sign that raised suspicion. Upon searching on the internet and cross-checking with the regulatory authorities, we found out that Bendigo Coins is UNREGULATED. This raises a major red flag in this Bendigo Coins review that points to the Bendigo Coins scam. An unregulated brokerage firm provides no guarantee regarding the safety of your money. One must never trade with any unregulated brokerage firm.
HUGE LEVERAGE BY BENDIGO COINS
High leverage is directly associated with an increased risk upon the trader. This is the reason why several regulatory authorities have set a limit on the amount of leverage that can be offered. Regulations such as CySEC have put the limit of leverage that can be offered at 1:30. In our case, Bendigo Coins offers leverage of 1:500 to their customers which is way higher than any of the leverage offered by the regulated brokerage firms. This raises another red flag in this Bendigo Coins review against the Bendigo Coins scam.
Conclusion: Is Bendigo Coins a scam broker or a legitimate broker?
To sum up, all that has been stated in the above Bendigo Coins review, we leave it upon you to decide whether Bendigo Coins is a scam broker or a legitimate one. However, we must warn you to stay away from Bendigo Coins as it is unregulated and is a potential threat. If you have been scammed by Bendigo Coins, fill out the form given above and file a complaint with us. To know more about other scam brokers, read our review on Hugo’s Way.
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