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FOREX COMPANIES AND BROKERS TO AVOID: BAIRRADA FOREX

FOREX COMPANIES AND BROKERS TO AVOID: BAIRRADA FOREX

 

 

Unfortunately, FOREX is a world with plenty of scams and shady brokers. While there are plenty of good FOREX companies around, there are also plenty of bad FOREX companies around.

Bairrada Forex, for example, is a Forex broker and Forex company you don’t want to do business with. They have an unsatisfactory rating with the Better Business Bureau and multiple unsatisfied customers. They are a Forex company you want to avoid.

The date that Bairrada Forex was founded is not clear because they have never been a company or business under any registrations. According to the research done by individuals who claim to have worked closely with Bairrada, they have found that they have always been running illegal Forex trading.

 

SOFTWARE

 

The Bairrada Forex has software for traders and investors which is the Meta5 trading platform that is available on both Pc and mobile devices. Despite making use of the MT5 trading platform, When trading with crm.bairradaforex.com you will be notified that the timing on CFD Charts is not the same as the real charts you will find on the internet. Opening a Demo account is quite impossible on this platform. This itself is a total red flag as legitimate brokers have laws binding them that allow users to open a demo account for better experience and knowledge of the market. As you might have guessed, trading or investing in this company is a risk you should not take.

 

HIDDEN TAXES

 

After making your deposit into your account, users are asked to pay certain fees, and taxes to withdraw. This right here is a total scam because it wasn’t stated that you will be making additions to withdraw your money. The company lacks transparency.

This is a warning not to do any business with this company or you will lose every dollar you give them.

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DEPOSIT/WITHDRAWAL METHOD

 

Unlike other trading platforms that state the minimum amount to be deposited and also to be withdrawn, Bairrada didn’t state the exact amount that should be deposited. Traders can, however, access this information after submitting copies of their ID and bank card. While withdrawing, you will be asked to pay certain fees and investment taxes before your withdrawal is processed and the thing is that there is a high chance you won’t be able to get your money back. This screams a lack of transparency, so you might want to think twice before trading with the company.

 

BAIRRADA FOREX SECURITY

 

Bairrada isn’t a secured trading platform. According to the company they claim to have entered the Asian market and have set up an Asia Pacific Regional Office and full Chinese network and customer service support to provide all-around services for Asia Pacific customers. This is to make them look so legit to unknowing customers.

In addition to their alleged ties to China, BairradaFX has regional phone numbers cutting across countries like Germany, and Singapore. However, despite all this, the broker does not give any proof of authorization or licensing.

 

CONCLUSION

 

Before you begin investing in the Forex markets, it is important to understand the Forex brokerages out there. There are good ones and then there are bad ones. Unfortunately, there are quite a few bad ones out there, and this blog post will go over some of those to avoid. This is not a post on how to pick a good Forex brokerage, this is a post on how to avoid the bad ones. We hope you enjoyed our post on Forex companies and brokers to avoid, and we wish you the best of luck when investing.

 

 

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