Score

1.59 /10
Danger

BAAFX

United States

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Vanuatu Retail Forex License Revoked

High potential risk

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Comparison

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Exposure

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Score

Regulatory Index0.00

Business Index7.59

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning: Low score, please stay away! 3
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • VanuatuVFSC (license number: 40174) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

BAAFX · Company summary

Note: BAAFX's official website: http://www.baafxpro.com/ is currently inaccessible normally.

BAAFX Information

BAAFX is an unregulated brokerage company whose server is only located in China. The company offers the MetaTrader 4 (MT4) and MetaTrader 5(MT5) platforms for trading.

BAAFX Information

Is BAAFX Legit?

Is BAAFX Legit?
Vanuatu Financial Services Commission
Current StatusRevoked
Regulated byVanuatu
License TypeRetail Forex License
License No.40174
Licensed InstitutionNot available

BAAFX claims regulation by theVanuatu Financial Services Commission(VFSC). However, according to it, BAAFX's current status is “Revoked.”

Is BAAFX Legit?

The unregulated broker may pose your funds at risk of not withdrawing. It suggests to have more study about this broker and ask for professional advice before dealing, which could helpful to your funds security.

Downsides of BAAFX

  • Unavailable Website

BAAFX's official website is currently inaccessible, which makes traders worry about the safety of funds.

  • Lack of Transparency

There is a noteworthy lack of information about BAAFX available online. It is difficult for traders to do wise decisions because of the lack of transparency.

  • Regulatory Concerns

BAAFX is not regulated. It may be fraud, such as misappropriation of client funds, thus resulting in the loss of trader's funds. What's more, the lack of transparency may lead to inability to get money back eventually.

Negative BAAFX Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

Negative BAAFX Reviews on WikiFX

As of now, there is only one exposure in total.

Exposure1. Cannot withdraw

ClassificationUnable to Withdraw
Date2022-12-08
Post CountryUnited States

The user said that he was unable to withdraw. You may visit: https://www.wikifx.com/en/comments/detail/Co202212085391616177.html

Conclusion

BAAFX may cause high risks for traders. The company claims regulation by the Vanuatu Financial Services Commission (VFSC), but their license has been revoked. Their website is currently unavailable, and there's very little information about them online. One user review on WikiFX said he was unable to withdraw funds. Based on this information, it's strongly recommended to avoid BAAFX and choose a regulated broker.

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Comments

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岁月如歌31394
more than one year
I was so shocked that didn't know what to do. We have been collecting this money for more than 2 years. We got into a very bad fraudulent company that will not return our money.
I was so shocked that didn't know what to do. We have been collecting this money for more than 2 years. We got into a very bad fraudulent company that will not return our money.
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2022-12-08 14:13
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