WikiFX Review: Traders need to understand the current situation of BEURAX

What is WikiFX？

About BEURAX

BEURAX is an online broker offering financial products to its clients. However, its website (Beurax.com) can not be opened. Some investors said that BEURAX changed its website to avoid its social responsibilities. Additionally, they have no retail products or services that can be sold. Moreover, there is no any proof of actual external income they are claiming here. BEURAX is not even operating at an legal MLM company. It is clear to our experienced analysts that Beurax is a scam operating a fake website.

Regulation: Is BEURAX legit？

(source:WikiFX)

No, BEURAX is not regulated. It does not hold a legitimate license from any regulatory institution. Moreover, we believe that BEURAX is getting involved in the scam. Thus, WikiFX has given this broker a very low rating of 1.26/10. please note that a broker with such a low score is more likely to take your money away fraudulently.

ASIC Warning

(Source: ASIC)

Australian Security&Investments Commission(ASIC) is an Australian financial regulatory authority, and it has blacklisted BEURAX. According to ASIC, ASIC has “received reports predominantly from overseas investors who invested with BEURAX via BEURAX.com, who are unable to withdraw their investments (from ASIC) BEURAX has stopped communicating with those investors.”

Trading Platform

Please note that this broker uses neither the MT4 nor MT5 as its main trading platform, which is another weakness of BEURAX.

Exposure from WikiFX

One trader who comes from Hong Kong told WikiFX that BEURAX changed its website and didnt allow clients to withdraw the money.

Feedback from Twitter

One investor on Twitter thinks that BEURAX is a scam. Another investor claimed that BEURAX explained that the reason why its website is not available is that they were doing maintenance. However, as of June 1, 2022, after more than one year passed away, the website of BEURAX is still unavailable.

FSCA, the Financial Sector Conduct Authority in South Africa, on its official Twitter account also warned investors to not do any financial businesses with this broker.

How the risk looks like

fraudsters usually try their best to persuade customers to invest in them. They are likely to forge some fake reports to make you believe that there are a lot of potential returns as long as you invest in them. Once you deposit, your money probably go shores where it disappears, so you will have almost no charge-back option left. They may also give you some profits so as to make you deposit more. Once the trap becomes so obvious, they will stop responding to you and your funds are impossible to be returned.

Conclusion

It is no doubt that BEURAX is a scammer. We advise you to avoid this broker as possible as you can. If you already got scammed by BEURAX. You can contact WikiFX and we are delighted to help you. WikiFX contains details of more than 34,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.

Click on BEURAX's WikiFX page for details