The increasing rate of infiltration by scammers in the financial market has made it difficult for traders to trust a broker and earn a passive income. With the onset of ever-growing technology, scammers have become more convincing. With numerous complaints flooding our inboxes about one such broker who has successfully scammed more than hundreds of people, we decided to review Beurax. Fully covered in lies, the website of Beurax claims to provide guaranteed profits to the customers in no time. Beurax seems to have carefully spun a web of lies to trap the poor victims in its hold. Read our detailed review about the Beurax scam to know more about this company and the scam they performed.
WHO ARE THE FOUNDERS OF BEURAX?
Even though the team behind Beurax has managed to build a good-looking website with a hint of ace technology, they have failed in various other aspects that pose red flags. As most of you might know, a proportion of the company’s reputation depends upon the founders and the ones working for the company. Any legitimate company would have no trouble publishing a section with a little information about the founders and the team. However, Beurax has no such on their site that has information or even the names of the founders and the team. However, in the section where Beurax proudly showcases their fake license, they have listed the CEO as Brandon Watts. It took us one google search to find out that Brandon Watts is nobody but a paid actor who has been featured in a lot of videos on popular social media platforms. This seems very suspicious as the company has purposefully lied to hide crucial information. Scam brokers often adopt such tricks to hide from the authorities and in case of an investigation, this helps the scammers in escaping the law.
DOES BEURAX HAVE A LICENSE?
To answer this question, we need to understand how a license helps the customers first. If a broker is regulated or has a license from any of the top-tier regulators, it automatically gives the regulators the right of supervision over the brokerage firm. This way, our money is secure with a regulated broker. In our case, Beurax claims to have an Australian Securities and Investment Commission or the ASIC-issued license. However, after cross-checking with the regulator, we realized that Beurax is clearly lying and it has not even applied for a license with the ASIC.
Furthermore, the British Columbia Securities Commission also known as the BCSC has issued a warning against Beurax. BCSC has asked its citizens to stay cautious of this possible scam broker.
WHAT TRADING SOFTWARE DOES BEURAX PROVIDE?
Another strange thing about Beurax is that the company does not offer conventional tradable instruments to the clients. Beurax only provides trade-in cryptocurrencies and that is managed by artificial intelligence. Beurax claims that their advanced algorithm and technologically high-speed performance enable their robot trader to complete as many as 1000 trades. In such cases, all the customers can do is sit and watch their money getting lost or getting doubled. The customers are also promised that they would be earning approx 1.4% every day. Yet again, this looks like a clear lie to attract more customers.
IS THERE A WITHDRAWAL FEE?
Beurax simply states on their website that the withdrawal fee depends from currency to currency. This yet again raises a red flag as all these are the tactics used by scam brokers to get more money.
IS BEURAX A SCAM?
That is for you to decide!
Based on all the research we have done, we suspect Beurax of being a potential scam. We request our readers to stay cautious if trading with Beurax. If you have been scammed by Beurax or any other scam broker, report now and we will help you out!
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