BBI Trading Markets is an online fraudulent broker pretending to offer passive income-earning opportunities through trading. The broker claims to have a global presence in Asia, Europe, the Middle East, and North America, among other regions. Also, the broker purports strict adherence to international regulations, but that is just wishful thinking. Despite these claims, BBI Trading Markets makes no effort to make it less obvious that it is a scam.

Never lower your guard simply because a broker claims to be regulated. No broker would dare risk their prospects by admitting to lack of regulation. This places the verification of the accuracy of such claims at your discretion. You can confirm this by checking with the respective regulatory agency registry. For instance, confirm with ASIC’s database if a broker claims to be in Australia. It is also worth mentioning that jurisdictions like St. Vincent and the Grenadines (SVG), Cayman Island, and Marshall Islands have no forex brokerage oversight.

A lack of physical interactions makes the digital investment space delicate, and scammers lurking online doesn’t help either. Therefore, investors must be alert when searching for investment brokers to discern those trusted top crypto brokers. You can combine your preliminary research with the review below to judge whether this broker does you any good.

Bbitrading.com Review

BBI Trading Markets own this broker. According to the broker, the perks of trading on this platform include deep liquidity, ultra-thin spreads, funds segregation and unrivaled stability. Unfortunately, the broker has limited trade instruments (crude oil, metals, indices, and forex).

We checked with the whois database, which revealed that the broker has been in the market since 21 May 2020. It is not hard to see why the unscrupulous broker has stayed in the market that long. Either the unrealistic promises are working, or no one has called out the broker on its deceit. Whichever it is, you should not be part of this.

Contact Details

BBI Trading Markets claims to have a base in Hong Kong. As a powerful financial hub, Hong Kong has rather rigorous requirements for forex brokers. 

We are thus skeptical that the broker is located here. However, the broker’s customer service support leaves much to be desired. Investors can only contact the broker via email.

You should be picky when it comes to a broker’s customer service. Are timely responses guaranteed? Is instant access available? If a broker can give you that, besides being regulated, you can consider it. As for this broker, do not waste your time – or money, with it.  

Deposit & Withdrawal Rules

The only payment methods BBI Trading Markets accepts are UUPay and the well-known cryptocurrency Tether. You have every reason to worry when a shady broker insists on crypto payments. This is because crypto transactions are anonymous, which preempts legal action. Additionally, the transactions are irreversible, making it impossible to ask for refunds, meaning you lose your money the instant you deposit it. First, confirm that the broker is regulated if you pay through crypto-wallets.

Although the broker’s homepage does not reveal the minimum deposit, the broker requested $300 to allow us to trade. This funding threshold is relatively high, considering there are genuine brokers with cheaper micro-accounts. Most scam brokers set a high initial deposit because they know you will figure out their deceit soon enough and won’t deposit anymore. Why would you put yourself in a fix knowingly?

BBI Trading Markets Licensure & Regulation

BBI Trading Markets claims its headquarters are in Hong Kong, HK, and has even offered a registration number to prove it. But we came up empty when we looked up the broker’s name and registration number in the Hong Kong Securities and Futures Commission database. Missing the credentials in the SFC’s registry was not a surprise, as we already had misgivings about the broker. It also confirms that besides being unregulated, the broker is offshore.

Offshore brokers are dangerous due to the jurisdictional constraints they pose. Also, local authorities in offshore jurisdictions provide immunity from international prosecutions to these brokers. If you lose money to such, you will be left in a precarious situation. 

Additionally, the fact that BBI Trading Markets is unregulated puts your investment at stake. This is because your funds are not segregated into separate accounts, and you do not have zero balance protection. Additionally, you cannot be compensated for losses to the broker as it is unregulated. If these aren’t deterrence enough, we don’t know what will.

Trading Conditions

Reputable brokers do not hesitate to attach the requisite legal document to further illuminate the engagement terms. However, you should still read through the fine print to ascertain that the terms are ideal. Also, note that phony brokers sometimes attach legal documents to distract you from prying further. The broker presumes that once you site the records, you will be at ease and conclude they are reliable to invest with. 

We were not given in-depth account descriptions or legal paperwork by BBI Trading. This is a dead giveaway that the broker is up to mischief. You shouldn’t trust a broker who omits such material information. Why would you sign up and accept unspecific terms on conditions? You could be agreeing to hidden and outrageous charges for all we know!

The broker’s 1.4 pips spread though acceptable, does not change the fact the broker is a cheat. Since there are legit brokers with spreads below 1, try them instead. BBI Trading Markets advertises a 1:400 leverage which is too high and risky.

While high leverage enhances prospects for lucrative returns, it also sets you up for excessive losses in market downturns or volatility. Thus, forex oversight bodies impose leverage limits to shield investors from significant losses. The UK, Australia, Cyprus, the US, Canada, and Japan are jurisdictions where brokers must comply with leverage cappings. The FCA, CySEC and ASIC have a 1:30 capping, Canada and the US have a 1:50, while Japan has a 1:20 capping.  

BBI Trading Markets Trading Platform

The forex industry recommends the MT4 and MT5 software. The two are recommended due to their cutting-edge infrastructure that supports extensive functionalities. As a result, traders have a competitive trading experience owing to the handy features of both software. For instance, they can back-test, auto-trade, place multiple trades, and hedge their funds. Globally, around 85 percent and 6 percent of traders use MT4 and MT5, respectively, which speaks volumes about their reliability.

BBI Trading Markets offers an MT4 trading platform, but that does not make it any more legit. While it may appear as though your money is changing hands, it may be going straight into the clutches of those trying to swindle you. In any case, shady brokers have too many times been caught tampering with it.

The broker also offers a demo account, and we give it credit for that. However, that’s the far we are willing to go as there is no way we will recommend a broker based on a platform alone. Only do business with reputable companies.

BBI Trading Markets Customer Reviews

We found several negative reviews leveled against this broker. Users cite unavailable customer support, being locked out of the account, and delayed and denied withdrawals. While reviews are always subjective and may be manipulated, you cannot ignore them when they are so damning.

Look, it is not a coincidence that all these investors had a bad experience! Something is clearly amiss with the broker, and you don’t want to be part of the statistics of victims. Avoid this broker while you still can.

Our Take

Unfortunately, BBI Trading Markets has been unleashing scams for over two years. Your interest in a broker should stop where its regulation does, implying this broker should not be in your equation of trusted top crypto brokers. The broker’s falsifications, omissions, and lack of regulation stick out and if keen, you might find more inconsistencies.

While scam brokers are becoming more cunning and harder to discern, there is a way to keep scammers at bay. You will do this by familiarizing yourself with forex market dynamics and regulations. Also, pay attention to industry standards such as trading platforms and parameters.

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