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Bwstocks Review & Opinions: Is it Reliable and Safe in 2024?

3.7 / 5

Bwstocks claims itself as an international forex broker with a wide range of trading services. However, the platform lacks information regarding regulations, and all website sections are poorly constructed. As a result, it might be hard for new traders to find its services as trustworthy. In Bwstocks review, we have grabbed information beyond the broker website to provide actual and neutral opinions.

General information about Bwstocks

Bwstocks claims themselves as a forex, crypto, stock, and real estate investment platform where making a profit is possible daily. As per the Bwstocks website, the company is located in the US, although there is no clear information about the exact address and regulation are available.

Moreover, it is unclear who is behind this platform, including the founder or employees. As per their website, investors can earn up to 2% profit from the deposit, which seems unrealistic. Although it claims to be a forex broker, there is no information regarding available assets, trading account types, or trading platforms are available.

The company provides several investment plans with a minimum deposit requirement of twenty US dollars. Moreover, it allows boosting the earnings by referring other people on the platform.

Advantages and disadvantages

Bwstocks has several claims of scamming that pushed the company to have a red-marked status in the Trustpilot rating. Moreover, the interface of the website and provided services are fishy with a lot of spelling mistakes, indicating a lack of professionalism.

Based on our findings, the following drawbacks might influence traders to remain aware of this broker:

  • The first impression of this platform is not good, coming from many spelling mistakes.
  • The unrealistic profit offering- 1% a day or 1.1% a day. There is no information regarding their trading performance and portfolio, which increases the possibility of misleading.
  • The website is not complete where the “Latest News” section is empty.
  • The website claims that it is based in the US. However, no actual address is provided nor any information regarding the US regulation is present.

Based on this review, the Bwstocks website shows a strange and unprofessional way of presenting their information. In some cases, the information provided by the platform is a complete lie. Therefore, although the offering of daily returns is high, investors should remain cautious before investing money.

Trading conditions

On any real broker website, detailed information regarding trading conditions, account types, spread, swaps, leverage, and commissions are presented. However, in the Bwstocks, we did not find any real and complete information regarding the trading condition.

Instead of showing trading conditions and commissions, it provided various investment plans, which is not the right approach. The investment plan starts with a minimum deposit of $20. On the other hand, in any regulated broker, it is hard to find the minimum deposit requirement to be below $100. Bwstocks also offers to make money from referral programs where regulated brokers are prohibited from using these referrals, promotions, and prizes.

Overall, the poor trading condition, lack of actual information, and unavailability of trading opportunities might make people consider it a scam.

Assets

Bwstocks offers trading in forex, stocks, commodities, cryptocurrencies, and real estate. The unique feature of this platform is that it offers to earn money from the financial market without any personal involvement. Investors should buy any of their packages and get a guaranteed daily profit.

On the Bwstocks website, there is no clear information regarding the list of available assets. On the other hand, a properly regulated broker shows the list of currency pairs with a spread comparison. In that case, there is no clue regarding how the company is utilizing clients’ funds and how they are generating money from the financial market.

Trading platform

Unlike a regulated broker, Bwstocks does not support trading platforms. While roaming the Bwstocks website, no information regarding the trading platform or trading instruments was found. After opening the account, a dashboard will appear from where users can make a deposit, but no information regarding the trading platform like MT4, MT5, cTrader, etc., are available.

A legit and regulated broker should have a separate menu regarding trading platforms, which is absent for Bwstocks. Investors should remain cautious while depositing on this platform as there is no way to track where the money is going.

Mobile Trading

Bwstocks has some limitations as a forex broker. The first drawback is the absence of trading platforms and trading instruments. Therefore, there is no way to know from where investors will manage their trading activities.

In general, forex brokers do not provide mobile trading platforms as the common platforms of MT4 or MT5 are available free in the Apple AppStore and Google PlayStore. Users have to download the platform, and while login they should input the broker-provided credentials. Another drawback of the Bwstocks platform is that this broker is not present in the MT4 or MT5 mobile app. Moreover, there is no proprietary trading platform available for this broker on mobile.

Demo account

Bwstocks has no demo accounts, so there is no way to test the platform before going with the real money. In fact, this broker does not provide any real trading opportunity as there are no actual trading platforms.

Account types

Bwstocks does not provide any choice of account types. However, this platform offers two different investment schemes that are risky and unrealistic.

The first investment plant offers a daily 1.25% gain, which means more than 30% gain in a month. Unlike this broker, the world’s top-rated investment platforms can’t provide such high returns. However, this broker offers such gains from a $20 deposit, which is a clear sign of a scam.

In any real and regulated broker, the account type should be based on the traders’ type- beginner to advance. In beginner account types, the minimum deposit requirement remains lower, but in expert account types, the trading cost, and spread remain lower.

Opening an account

The Bwstocks website made the account opening process very simple, where people can join the platform by clicking on the ‘ ‘Open an account” button from the homepage. Later on, a new page will appear where investors should input their name, email address, phone number, etc. Once all this information is provided, it will ask to verify the email address to complete the accounting opening.

However, like an original forex broker, this platform does not require any verification document nor the verification option is available on the website.

Funds withdrawal

The Bwstocks deposit page has three methods- Bank transfer, bitcoin, and mobile money. However, payment through Bitcoin is the only option there. If you click either bank transfer or mobile money, a message will appear saying that the administrator should approve the deposit. Therefore, it is clear that the broker influences people to invest with the cryptocurrency where the transaction happens through a decentralized platform. In other scam sites, Bitcoin is preferable as there is no possibility of a refund. On the other hand, a legit broker allows investing through other methods like a credit card, bank payment, payment, Neteller, Skrill, Perfect money, etc.

In the terms and conditions provided by the broker, there is no information regarding the withdrawal requirement. However, in the FAQ section, a minimum withdrawal requirement is mentioned as $30. Although the withdrawal requirement is low, the website’s overall structure is not satisfactory to call it legit.

Trader training

Bwstocks claims itself to be a broker, but there is no proper guideline that a broker should provide to its clients. For example, there are no education articles, video content, market analysis, or economic calendar.

During our review, we did not find any information from the platform regarding the financial market analysis or education. On the other hand, this broker influences people to invest under them without the trading platform. However, there is no information regarding who is behind the trading team and how they are analyzing the market.

Should I trade with “Bwstocks”?

Trading in the financial market is associated with unavoidable risks. In that case, finding a broker with low cost and high transparency is the primary requirement to have a stress-free trading experience.

For newcomers, it is often hard to find a reliable broker as an unrealistic offer might mislead them at any time. Bwstocks is one such platform that might lure you with promises of making easy money from the financial market. Usually, scammers promise to perform all trading activities for investors offering an easy way to make money by doing nothing. However, the real financial broker does not work like that. Instead, brokers work as a bridge between traders and the financial market, where every trading decision should come from the trader.

Overall, Bwstocks is a scam broker where no actual information regarding regulation is available. Moreover, the use of fake names, fake office addresses, and unprofessional website outlook clearly indicates that this is not an actual forex broker.

Reviews on Bwstocks

Comments about Bwstocks
( 9 )
User rating: 4.4 / 5

Comments: 9

  1. avatar
    Natuhamya
    04/10/2022

    Buh i invested in this company through mobile money and i dint get my money back

    5/5

  2. avatar
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    16/09/2023

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    5/5

  3. avatar
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    07/10/2023

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    13/10/2023

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    04/11/2023

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    25/01/2024

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