WikiFX Scam Alert: Please Watch Out For Bux Forex!!!

Breaking news! Bux Forex has come to the attention of the Financial Conduct Authority in the UK, which warned on October 10th that Bux Forex has been pretending was authorized by us to offering its financial service. You may see the warning on the screenshot below.

“Bux Forex is totally a clone firm to disguise itself as a licensed company,” The FCA adding that, “Fraudsters are using the details of firms we authorize to try to convince people that they invest with a genuine, authorised firm.”

“All members of the public in the UK should know how to protect themselves. We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services (FS) Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.”

Such warnings actually effectively exposed it as a clone firm and a scam scheme. Clones are dangerous as they impersonate legit companies, which makes it easier for fraudsters to take their investors‘ guards off and scam them out of their money. It’s a simple but very effective strategy, as the number of impostors like Bux Forex is constantly on the rise!

WikiFX also paid a visit to the brokers official website to learn more. The so-called brokerage presents itself as a UK-based forex and was licensed by Financial Conduct Aothority(FCA), but the FCA license is obviously a blatant lie given the warning shown above.

In the meantime, WikiFX also find the FCA Register number 184333 showed on internet is the registration number of another company called buxmarkets.com. And the authorized company buxmarkets.com has clarified that it has no connection with cloning company buxforex.com. Bux Forex was attempted to present itself as a legitimate licensed company to prove their authenticity so as to achieve the purpose of cheating users.

In addition, Bux Forex promises a perfect trading platform like MT4. However, when WikiFX tried to connect to the trading software, the page displayed an error—This site cannot be reached. Obviously, this is just a ruse by Bux Forex, which doesn't have a “world class trading platform” like MT4, the industry standard.

Moreover, Bux Forex did not specify the terms of the transactions. On its website, you can't see the minimum deposit, leverage, spread and other trading conditions, nor do you know the deposit method and withdrawal conditions. Anyway, all the specific terms of the deal you want to know are not mentioned here. Apparently, there's only one reason he's doing this – Bux Forex 's trying to trick green hand to invest first, but it's hard to get your money out once you put it in.

Last but not least, in order to find out more about Bux Forex, WikiFX made an attempt to access the domain tool to learn about the domain information.

It can be found by tracking its website information that its official website domain name is up to date -- it was registered on September 6, 2022, just one months ago. Besides, the domain is only valid for one year - until September 6, 2023. It's easy to see that when Bux Forex was registered, it didn't intend to stay in business for long. It expected to get money and then switch to a new domain name and continue scamming.

Now let's search “Bux Forex” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/3611800422.html), Bux Forex currently has no valid regulatory license and the score is rather negative - only 1.00/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Please note that WikiFX is also reminding the majority of users: low scores, please stay away!

The United KingdomFCA regulatory (license number: 184333) claimed by this broker is a suspicious clone, please be aware of the risk!

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

From all the above information we can know that trusting a broker like Bux Forex is simply not worth it – you will certainly end up robbed. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.