Beneffx Review: Beneffx.com an Offshore Scheme

Beneffx is a proudly unregulated venture. It hails from Marshalls Island, one of the notorious offshore regions that condone illegal schemes.  That being said, we do not see the scheme fit to be your trading partner. Companies that lack a license yet collect money from innocent traders are hazardous. 

Anyone that joins the scheme with the hope of making money is in for a rude shock. Their main asset is cryptocurrency. They advertise low commissions that facilitate earning more profits. This is another suspicious firm hiding behind technology. 

Beneffx is allegedly trading CFDs, stocks, and forex. They have professional tools, and their interface is compatible with mobile, desktop, and tablet trading. The firm also customizes charts for clients. The broker is also praising its educational resources. Clients can use eBooks, videos, and webinars to increase their skills. We weren’t lucky enough to check out the resources. 

Investment is more of the numbers, and we are interested in seeing the performance of this broker. All the company does is brag about their technology, yet their trading platform is lurking. If you decide to choose Beneffx as your trading partner, forget about fund safety. Your money and data will be in the hands of fraudsters. Nobody will be able to save you from them. 

Try out some of the leading cryptocurrency trading firms in the market. These are reasonable and ideal entities in the market. Your safety is the top priority of the firm. You will sleep soundly knowing that you are protected. 

Beneffx.com Review

Beneffx recently updated their contact details. They are currently claiming to be operating from the United Kingdom. However, the broker does not give a hoot about the government of this region. Additionally, the scheme claims it has over 1000 products. We have doubts there are trading activities taking place. 

The broker does not even care to introduce its professional team. The information that the venture avails is only for sales purposes. They have contradicting information. It is only an insane person or a marketer of this broker who would recommend them. Once you make your first deposit, the platform may be kind enough to let you withdraw the amount. 

They will show you an irresistible coffee. Once you take it, the entity will try its level best to hold the withdrawal. They could come up with the lamest excuse ever. This will continue happening till they trade and the account reflects you made losses. Beneffx does not deserve the benefit of the doubt.

Trading Conditions

The terms and conditions of the venture are unfavorable. The bonuses that the scheme offers attract unclear requirements. Beneffx praises its trading software. We were surprised to find they are offering a web trader. The features of such an interface are inferior compared to the MetaTrader.

The broker has a spread of 3 pips which is unprofitable to clients. Beneffx is offering leverage of 1:400. This is far beyond the EU ratio. Investment ventures from this region are only allowed to provide leverage of 1:30. As you can see, there is nothing apart from a lousy outcome awaiting in this scheme. 

Beneffx Withdrawal and Deposits

The minimum amount that traders can cash in is $250. The payment can be made via debit and credit card, Skrill, Wire Transfer, and e-wallets. Sadly, we cannot validate whether what the scheme features is the actual what they are using. Con artists tend to list several options, but when it comes to depositing, they only use ones that limit traders from issuing a chargeback.

The least amount that investors can cash out from the entity is $100 for wire transfers and $50 for credit and debit cards. There is an additional transaction fee of 3.5% of the total amount, the minimum being $30.

Beneffx eliminated the charges for the black accounts. They are trying to make investors deposit more money to get the best trading terms. This is an expensive scheme that has only one goal, which is to get funds from investors. Ironically, the venture does not feature this alleged account in its platform.

In the FAQ terms, the fee for the dormant account is $10 every month, while in the legal document, the charge is $50. The varying figure is a call of alarm. You won’t find genuine companies having such shortcomings. 

Regulation Status of Beneffx

The platform claims it is operating legally in Marshall Island and Bulgaria. For starters, there is no financial regulatory agency in Marshall Island. This is a haven for several scams. Any firm can enter the market without having to deposit a particular capital that can be used to compensate traders in case of insolvency. 

Bulgaria is a member of the European Union. Therefore, any investment firm that is operating from the country ought to have a license. Investment firms from the EU are not allowed to offer bonuses, yet Beneffx is doing so. This is a red flag. Additionally, the trading conditions of the scheme are not as per the requirement of the regulatory body.

Traders are not going to receive compensation once Beneffx disappears into thin air. Additionally, this is an entity that does not report its daily trading activities to the authority. The law requires that every investment firm collecting funds from the public disclose the individuals handling the traders’ funds. 

This is something that the company has not adhered to as they continue to run their business behind the shadow. Invest only with the best investment scheme in the industry that is highly licensed. 

Customer Support

The actual location of the entity remains a big mystery. They feature addresses on their website, but this is only for pleasing traders. Beneffx is an ambiguous scheme that can’t risk blowing up their cover. The authority would come after the individuals if they disclosed their actual address. 

Nonetheless, the entity wants investors to believe it has the best team of professionals ready to help. The shock that awaits you once you try to reach them will be unbearable. In most cases, offshore firms lack enough money to hire reliable support. They can only use sales reps.

Sharing your information exposes you to unknown risks. The entity could choose to misuse the information. You are better off without Beneffx. Choose one of the best legit brokers that have no problem disclosing their location. Their main focus is to provide world-class services.

The Domain Insight

Beneffx is a company that has global traffic of 7,271,377. The domain name was registered in August 2021. It shall expire in August 2023. The people that are behind the venture are anonymous. The platform is still fresh in the market. They don’t have a trading history. 

Final Verdict

Beneffx is a platform that lacks clients’ testimonials. Therefore, we cannot tell if their customers are winning or losing. Another thing worth noting is that the scheme is young in the market. Their reading conditions are only pushing investors to make losses.  Their fees are also unreasonable. We cannot see anything positive regarding this company.

Invest with the best cryptocurrency trading ventures in the market. These are reputable and genuine firms. They care about their clients and ensure your information is safe. You get world-class support services and the best trading conditions. Additionally, you will have peace of mind as the people running the scheme are trustworthy.

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