The financial market continues to be flooded with deceptive brokers, and Bexoton is one such perpetrator. The company, which claims to have a long-standing history and millions of open accounts, has unfortunately been found to engage in fraudulent activities. This article aims to shed light on their dubious practices and help potential clients make informed decisions.
Bexoton has been found to engage in various fraudulent practices, ranging from falsifying news to manipulating technical data. The company has accumulated numerous negative reviews and complaints from customers who have been deceived by their services.
Bexoton has been accused of technical manipulation, a practice that involves influencing market prices and creating false trading signals. This is achieved either by artificially inflating or deflating the price of certain assets. These manipulations lead investors to make wrong decisions, thereby resulting in significant financial losses.
False Information and News
The company has been found to publish false data and news, leading traders to make detrimental decisions. This includes publishing fictitious reports and recommendations from so-called "experts", creating an illusion of reliability.
Unprofessional Staff and Lack of Customer Support
Bexoton's staff has been described as unprofessional and aggressive. They reportedly initiate contact with potential clients, pushing unclear products and services. Furthermore, the company lacks a reliable customer support system, making it impossible for clients to resolve issues or get assistance when needed.
Absence of Legal Documents and Licences
Bexoton's website lacks legal documents, a red flag indicating the company's lack of transparency. Furthermore, the site does not provide any contact information, leaving customers without any means to reach out for help or lodge complaints.
Hidden Fees and Charges
The company has also been accused of levying hidden fees and charges. Customers have complained about unaccounted payments and high commission rates that were not previously disclosed.
Negative Customer Reviews
Bexoton's reputation has been marred by a plethora of negative customer reviews. Many clients have reported being unable to withdraw their funds, with withdrawal requests being blatantly ignored. Others have complained about the company's aggressive marketing tactics and the constant spamming of their inboxes.
Why You Should Be Wary of Bexoton
Besides the previously mentioned issues, there are several other reasons why potential clients should steer clear of Bexoton.
Delayed Execution of Orders
According to customer reviews, Bexoton's trading platform suffers from significant delays in order execution. This can lead to traders missing out on profitable trades, thereby causing financial losses.
Unrealistic Commissions and Fees
Bexoton has been accused of charging exorbitant commissions and fees. These charges, which are often not disclosed upfront, can eat into a trader's profits and make trading unprofitable.
Lack of Regulatory Oversight
Bexoton does not appear to be regulated by any recognised financial authority. This lack of regulation raises concerns about the company's legitimacy and whether it adheres to industry standards.
In conclusion, Bexoton is a Forex broker that clients should be wary of. The company has been involved in numerous fraudulent practices, including technical manipulation, publishing false information, and charging hidden fees. Their lack of transparency, combined with negative customer reviews and the absence of regulatory oversight, makes them a high-risk broker.
Potential clients are therefore advised to exercise caution when dealing with Bexoton or any other broker that exhibits similar red flags. It is always recommended to do thorough research and opt for brokers that are transparent and regulated by recognised financial authorities.