As a brokerage firm, Beurax raises several red flags for traders. Its website is riddled with dubious assertions that make it difficult to trust the platform, leading us to believe it is potentially fraudulent.
From start to finish, the broker’s offerings are suspicious and lack reliable information. Our Beurax review provides a comprehensive analysis to help determine the legitimacy of this broker. Let’s dig deeper!
Regulation and Security of Beurax
Beurax Corporation Pty Ltd owns the Beaurax brand. According to their claims, they are registered in Australia and operate under ASIC regulation. However, upon conducting a complete search, we could not find any trace of the company in the register of Australian companies or the ASIC register. This is a concerning red flag, as it means that the company may not be legitimate.
Similarly, the lack of information on fund security is alarming. Clients are not provided with any assurance that their investments are being protected. Even if such information was provided, there is a possibility that it could be false.
We strongly caution against opening an account with this broker. It is crucial to exercise caution when investing and to only work with reputable companies.
Trading Platform at Beurax
Beurax is a broker that operates a bit differently than most. They do not offer traditional trading software and instead focus solely on crypto. They use a trading bot that performs scalping deals in cryptocurrencies around the clock. Beurax claims that its bot is super fast and efficient, allowing it to complete over 1,000 trade deals.
Traders who work with Beurax can only deposit money into their accounts and then watch as their profits grow. The broker promises a daily return of 1.4%, which can result in significant profits over time.
However, this seems too good to be true. Still, it raises concerns that Beurax may be operating a high-yield investment program, which is essentially a scam that promises high returns by paying clients with money from new investors.
Instead, we recommend finding a licensed broker that offers conventional trading software, such as MetaTrader 4 or MetaTrader 5. These two top-notch platforms can enhance your trading experience and are a safer, more reliable way to invest.
Beurax – Trading Instruments
Unfortunately, we cannot determine the trading instruments Beurax offers as their trading page is neither accessible nor transparent. Their lack of transparency is concerning.
We strongly advise against working with brokers that are not transparent about their services and offerings. It is crucial to only invest in reputable companies that provide clear and honest information about their services.
Beurax – Account Types
According to several sources, it appears that Beurax does not have classic account types. Instead, they offer twelve affiliate ranks within their compensation plan. These ranks are based on the total amount of investment generated by the affiliate’s downline. The affiliate ranks and their related investment amounts are as follows:
- Silver Consultant – sign up as a Beurax affiliate
- Golden Consultant – generate $10,000
- Diamond Consultant – generate $30,000
- Silver Manager – generate $60,000
- Golden Manager – generate $120,000
- Diamond Manager – generate $250,000
- Silver Partner – generate $1,000,000
- Golden Partner – generate $3,000,000
- Diamond Partner – generate $10,000,000
- Silver Director – generate $30,000,000
- Golden Director – generate $50,000,000
- Diamond Director – generate $100,000,000
It is concerning that Beurax does not have classic account types. This is a dangerous Ponzi scheme.
Deposit and Withdrawal Methods
Beurax requires a minimum initial deposit of $20 to start trading. They offer various payment methods, including popular crypto assets such as Bitcoin, Ethereum, Litecoin, Tether, and more. It’s worth noting that there are no fees for deposits. However, a premature withdrawal can incur a hefty penalty fee of 75% of the deposit amount.
The minimum withdrawal amount, on the other hand, varies depending on the payment method selected by the client.
Techniques Used by Offshore Brokers: A Closer Look
Offshore brokers often use a variety of methods to attract clients and operate outside of regulatory oversight. Some of these may include offering high leverage, allowing clients to trade on margin, and offering bonuses for trading activity. Additionally, offshore brokers may use cold calling or spam emails to lure potential clients. This is a fact!
Regardless, these tactics can often be misleading or even fraudulent, as offshore brokers may not be subject to the same level of scrutiny as brokers based in more strictly regulated jurisdictions. Clients should be smart when dealing with offshore brokers and carefully research potential brokers before investing.
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Beurax is a crypto broker that operates through a trading bot that performs scalping deals in crypto, promising a daily return of 1.4%. However, our review found several red flags, including a lack of regulation, transparency, and security.
Beurax offers twelve affiliate ranks instead of classic account types, which is worrying as this is a Ponzi scheme. Although Beurax offers various payment methods with no deposit fees, early withdrawals can incur a penalty fee of 75% of the deposit amount. We advise finding a licensed broker with transparent services to ensure your investment’s safety.
Is Beurax Legitimate Broker?
Beurax’s legitimacy as a broker is questionable due to countless red flags and reports of suspicious activity.
What is the Minimum Deposit for Beurax?
The minimum deposit required by Beurax is apparently $20. Yet, beware of their scam tactics.
How Long Does it Take to Withdraw from Beurax?
There have been reports of significant withdrawal issues. Users never got their money.