There are many questions on BizzTrade broker. Is BizzTrade regulated? Where is it based? Is it legit? As a company that provides education as its main product, along with trading, you want to make sure that you are in the right place. So, let’s start and see everything in our BizzTrade review.
BizzTrade Regulation And Security
BizzTrade is a broker allegedly owned by BizzTrade Inc, based in Dubai. However, there are no mentions of BizzTrade Inc in the register of DFM. According to our BizzTrade review, the company is a Ponzi scheme operated by two Indian brothers, Rizwan and Rehan Gohar, and their partner Gurpreet Dhaliwal. The company was first established in the UK under the name BizzTrek in 2019, only to change the name to BizzTrade one year later.
The company is established as MLM (multi-level marketing) broker that also provides trading education. There is no security whatsoever with this suspicious forex company.
What Can You Trade With A BizzTrade Broker?
BizzTrade is a scheme where you get dragged by promising education that will lead to guaranteed profit on the Forex market. The broker allegedly offers strategies and tools, as well as live sessions with brokers. However, since the company is not licensed, the employees cannot be brokers. After you go through their “astonishing educational process” that starts from 50 EUR for the Starter package, you need to either upgrade your package or start trading. This broker also developed its BizzCoin, also known as shitcoin – cryptocurrency of low value. The more clients purchased this coin, the more money owners could cash out from the company. Investors have never seen a cent of profit.
Deposit And Withdrawal Methods
As previously mentioned, the company drags clients to start with Starter educational package that costs 50 EUR. Besides this account, there are also Pro Starter, Business, Pro Business, Trader, Pro Trader, and the VIP account. All these accounts have guaranteed ROI of up to 0.8% a day.
When it comes to payment methods, all we can say is a “various range of payment methods accepted” according to the broker’s Terms & Conditions. Nowhere we could find and fees or commissions that the broker is charging.
As everything from the very start and BizzTrek is shady with this broker, we are not surprised. This just firmed our opinion – BizzTrade is a scam broker that should not be trusted.
Conclusion About BizzTrade
BizzTrade is a brokerage based in the United Arab Emirates operating with no regulation. The company was established in the UK as an education provider and MLM broker. However, clients never had a chance to see any return on investment from BizzTrade. Based on all the clients’ complaints and our review, we can say that the broker is running a Ponzi scheme. After putting clients in the educational program and letting them enter the trading world, they also ask clients to bring more clients. And this is how they are building the network. The sad thing, all the ROI goes to owners.
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