A short glance at BBanc’s website can tell you that you’re dealing with the scheme. The firm has a registration number 1860 LLC 2022, claiming to exist for over 10 years and has 15 different awards. At this point, our experience was already on red alert, screaming scam. Read this BBanc review to find out how to get your money back and what to do if this cyber-fraud has scammed you.
Also, we want to invite you to read our updated Investirex, Prime Coin Live and LiraFX scam broker reviews. For those unaware, their investment offers are too good to be true!
| Broker Status: | Offshore Scam Broker |
| Broker Regulation: | Unlicensed Forex Provider / No Regulation |
| Scammers Websites: | bbanc.com |
| Operating Status: | Active Forex and Crypto Trading Scam |
| Blacklisted as a Scam by: | AMF France |
| Broker Owner: | Primis LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation Year: | 2022 |
| Trading Platforms: | WebTrader / MT5 |
| Mobile Trading: | Available via MetaTrader 5 App |
| Minimum Deposit: | 250 EUR |
| Deposit Bonus: | Up to 75% |
| Crypto Trading: | Available |
| CFD Trading: | Yes, you can trade CFDs |
| Trading Instruments: | Forex / Cryptos / Indices / Shares / Stocks |
| Maximum Leverage: | 1:25 |
| Islamic Account: | Not Available |
| Demo Account: | No, only live trading accounts |
| Accepts US Clients: | US traders are accepted |
| Global Fraud Protection Team: | Don’t Invest in This Scam Broker! |
Is BBanc a Regulated Crypto and Forex Provider?
If you ask their employees, the answer is yes. However, the truth is a bit different.
BBanc Forex brand belongs to Primis LLC, registered in Saint Vincent and the Grenadines. This offshore island has no financial regulator, which is why so many brokers nowadays choose SVG for their shelter. According to the FSA register, brokers should opt for a license in the country of service.
So, What Does That Mean for BBanc’s Regulation?
This practically means that the firm should belong under the FCA, ASIC, BaFin, CONSOB, or a similar Tier1 license. Yet, according to the Terms and Conditions, it’s under the Estonian governing law and nobody’s regulation. Watch out for BBanc trading scam, and don’t become the next victim.
Is BBanc Broker a Scam?
BBanc is a scam brokerage. The company has no financial regulation, while their employees tell clients it’s an FCA-regulated firm. Furthermore, the broker is located in Saint Vincent and the Grenadines, but according to T&C belongs under the Estonian governing law.
Scam Warnings Against BBanc
Upon receiving a solid number of BBanc complaints, the French regulator AMF blacklisted the firm. This regulator added bbanc.com to the list of fraudulent Forex domains operating in France without a license. And right here is an official backup of all the statements in this review.
Avoid BBanc scam and don’t end up as a victim.
Where Is BBanc Trading Scam Active?
BBanc is a relatively new brokerage on the financial market, active since February this year. In this short period, the firm managed to defraud many. The majority of victims come from:
- Spain
- Poland
- UK
- Canada
- Netherlands
In addition, we recommend excluding Place a Trade, Capital Forex Live and Bitmoon24 from your list of potential brokers for trading.
How Does This Scam Broker Find Victims?
Scam brokers usually advertise aggressively on different social media, such as Facebook and Instagram, and via Google ads. The main idea is to get you hooked, get your phone number and email, and then you will be harassed.
According to BBanc reviews, customers are receiving numerous phone calls and emails, all with the allegedly best trading offers with the highest returns. In some cases, even those who have never registered with the broker BBanc, but applied for trading education end up with this scheme.
Lately, many clients have been contacted through Telegram messages and channels, and the broker claims to give them incredible offers only for the chosen ones. If it sounds fake, it’s because it is a fake story.
Last but not least, if you have never signed up, you can end up defrauded through social media – Facebook and Instagram messages. Scam brokers like BBanc have fake social media accounts. Through them, they’re contacting potential victims, telling them different stories about making profits within a few hours.
Again, if something sounds too good to be true, it usually is that way.
What Trading Platforms Are Available? – Trading Software
There’s a solid offer of BBanc trading platforms – MT5 and a WebTrader. WebTrader is a basic TradingView chart with fewer indicators and other tools than any MetaTrader can provide. So, we were quite pleased to see at least one reputable software. Until we discovered that it doesn’t belong to BBanc broker.
BBanc MT5 Platform – MetaTrader 5
Yes, BBanc has a MetaTrader5, but not their own. Both WebTrader and MT5 for desktop belong to a company named Stockton Ltd. Despite our best efforts, we haven’t found this firm or a link between them and BBanc. Thus, exposing your funds to a third-party platform is tricky and risky.
Right next to MT5 links, you can find links to download AnyDesk and TeamViewer, remote desktop apps. Using these, account managers can control your desktop or mobile device and access your online banking and all your funds.
Social Trading
MT5 can be connected to social trading. However, since the platform doesn’t belong to BBanc broker, we’re unsure who are the customers you will connect with and whose trades you’ll be able to follow.
What Can I Trade With the BBanc Broker?
BBanc offers a solid range of trading instruments, including:
- Forex – EUR/USD, GBP/USD
- Commodities – oil, gas, silver
- Indices – NASDAQ, FTSE100, DAX30
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
BBanc Fees and Spreads
The broker gave us no details about the spread, fees, or commissions. We found on the platform that the starting spread is 1.1 pip for EUR/USD pair, which can be considered solid. However, when provided by an unregulated broker, even the best terms can be violated, and your money can be stolen.
Trading Accounts Review – What’s the Difference?
There are a vast number of BBanc account types, including:
- Basic – 250 EUR
- Silver – 10,000 EUR
- Gold – 25,000 EUR
- Platinum – 50,000 EUR
- VIP – 250,000 EUR
Accounts differ in perks such as free withdrawals, access to more assets, sessions with analysts, and better support.
Can I Trade With a BBanc Demo Account?
Sadly, there’s no BBanc Demo account. You can overview the platform but cannot place any trades until you have deposited the funds. Despite BBanc’s minimum deposit being pretty standard at 250 EUR, we would not advise you to invest.
Unregulated brokers are rather known for their lousy trading conditions and the fact they do not approve any withdrawals.
BBanc Withdrawal Methods – How To Withdraw Money?
The company accepts the following payment methods:
- Debit/credit card
- Bank transfer
- PayPal
However, according to all reviews, BBanc withdrawal is nearly impossible. Broker employees will do anything in their power to prevent you from getting your money back. If necessary, they will block your access to a trading account. Stay away from BBanc scam and find yourself a legitimate investment firm.
BBanc Bonuses and Promotions – Another Way to Scam You
Despite the regulatory ban, we found that this firm offers bonuses and other incentives. Of course, with a malicious policy hidden within the Terms and Conditions.
According to it, “Please note unless otherwise explicitly agreed, Non-Deposited Funds are not available for immediate withdrawal.” Since they’re not available for immediate withdrawal and there’s no indication when can you withdraw the funds, you can already see how BBanc bonus can dissuade you from getting your funds.
What to Do If You Fall For a BBanc Scam?
If you or someone close to you falls victim to a BBanc scam, let us know. It’s important not to give up and to fight for what’s rightfully yours. Depending on your payment method, there are different ways for us to help you recover your funds.
Contact us via online chat to book a free consultation with our experts, and let’s start acting. Time is of utmost importance, so let’s begin right away.
All In All, Don’t Let the Scammers Get Away for Free!
FAQ Section:
What Is BBanc, and Should I Invest Money In It?
BBanc is a fraudulent offshore broker banned in France. If you or someone close to you has been scammed by this bogus firm, let us know. We may be able to assist with the chargeback procedure.
Does BBanc Offer a Demo Account?
No, BBanc doesn’t offer a Demo account, only Live account types.
What Is the BBanc Minimum Deposit?
If you want to trade with a BBanc broker, you’ll need a minimum of 250 EUR.
Can I Trade Cryptos and CFDs With a BBanc Broker?
You can trade both crypto and CFDs, but we advise against it.
How Long Do BBanc Withdrawals Take?
BBanc has never specified withdrawal time, probably because the firm has no intention of approving any withdrawals.
We hope you enjoyed our article on BBanc review. If you are interested in learning more about BBanc, you can find more information on their website at fakebrokerwatchdog.com. We would love to hear from you with any additional feedback on the BBanc platform!
