Warning: Is Biwaxec a Scam?

Investigation: Biwaxec (biwaxec.com)

Be careful of Biwaxec (biwaxec.com); it exhibits several characteristics of a scam.

Biwaxec appears to be a trading firm, but it appears not authorized by any top-tier financial regulator, like the ASIC or CySEC.

Victim of Biwaxec?

Are you unable to withdraw your investment from Biwaxec? Fill out the form below to talk to our investigative team for a complimentary case evaluation.

Can You Trust Biwaxec?

Our investigation shows that Biwaxec lacks a valid license.

Investing with unregulated brokers is extremely risky. Legitimate firms are always licensed with bodies like the FCA, CySEC, or CFTC to protect investors.

Biwaxec operates without this supervision. This means there is no protection if they keep your funds. Most investment fraud involve unlicensed entities, and getting back money from them is hard without professional help.

For instance, in Europe, unlicensed firms are outside the jurisdiction of the compensation schemes. In America, they are not part of regulatory bodies, so your capital is at risk.

How Biwaxec Might Scam You

Online trading fraud is evolving. Scammers use psychological tricks to take your savings. Below are common tactics used by brokers like Biwaxec (biwaxec.com).

Dating App Scams

The "Romance Scam" is a common method where scammers groom victims over months. They fake a relationship online. Eventually, they mention a "lucrative" crypto opportunity. It's a trap to lure you onto a scam site .

Fake Trading Dashboards

Scammers build websites that look exactly like real trading apps. You see graphs and profits that increase. But it is a simulation. The scammer manipulates the numbers to make you feel rich to deposit more. When you try to withdraw, the "profits" disappear.

Other Warning Signs

• Unsolicited Contact: You get calls from "brokers" out of the blue.
• No License: The firm has no authorization.
• Guaranteed Profits: They guarantee 1% daily returns or risk-free trades.
• Withdrawal Issues: They refuse withdrawals. They demand "tax fees" first.
• Aggressive Sales: Agents push you to invest bigger amounts.

Ignore fake reviews. Fraudulent brokers often write their own 5-star reviews to look legitimate.

Verdict

We do not recommend Biwaxec. It appears to be a fraud. Save your funds and find a licensed broker. Avoid biwaxec.com at all costs.