Ten years of experience, more than fifteen awards, and branches all over the world are that’s what BBanc boasts. The broker is seriously determined to overtake its competitors. However, negative reviews spoil the impression of this project. We will check what the traders are dissatisfied with and whether this is another scam.
- BBanc General Information
- Registration and Client Portal Review
- BBanc Trading Conditions
- Account Types Review
- Trading Platform
- BBanc — Deposit and Withdrawal of Funds
- Additional Options
- Is BBanc a Scam?
- Legal Information and License
- Bbanc.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
BBanc General Information
|Phone Number||+12262980411, +442037638446|
|Address||First floor, first St. Vincent Ltd Building James Street, Kingstown, St. Vincent and the Grenadines|
Registration and Client Portal Review
The official BBanc website looks shabby. For 10 years of work, it would be possible to somehow put it in order. However, obviously the administration does not care about such things. Many sections on the site simply do not load. The design is primitive, and the information about the company is minimal. At the same time, there is a lot of self-promotion and calls to open an account as soon as possible.
The registration process is quite standard. You will need to fill out a small form with the following personal data:
- First and last name
- Country of residence
- Email address
- Promo code.
The BBanc Client Portal contains information about the profile, trading activity, and the total amount of profit/loss for the reporting period. Here you can also edit personal information, fund your account, withdraw money or start trading right away.
BBanc Trading Conditions
BBanc is a CFD trading platform. The broker offers different types of assets and several trading accounts.
Account Types Review
The set of functions depends on the type of account that you can choose after registration. BBanc has several of them.
|Basic||€250||1:25||24/7 support, professional charts|
|Silver||€10,000||1:25||Access to 5 markets, 30% bonus, 24/7 support|
|Gold||€25,000||1:25||Session with an analyst, 1 free withdrawal of funds per week|
|Platinum||€50,000||1:25||75% bonus of the deposit, personal introductory session|
|VIP||€250,000||1:25||Individual Analyst assistance, zero commission|
As you can see, trading accounts are not so different. Besides, additional services seem ridiculous.
The BBanc trading software is presented exclusively in the form of a web platform. The broker takes quotes from another broker, Capital Com. Additionally, it is not possible to open deals directly from the chart. You will have to go back to your Client Area to create an order. There are also pretty little indicators here. It does not contribute to profitable trading.
BBanc — Deposit and Withdrawal of Funds
Even though the broker assures us of convenient and fast ways to deposit, you will be disappointed. In the Client Portal, it turns out that traders can fund accounts here only in one way. It’s a wire transfer. However, this is not the whole problem. To make a transaction, you will have to contact the administrator of the BBanc beforehand. You may ask why. The answer is simple. This broker does not disclose its banking details. Only managers can tell you about them. At the same time, they will try to persuade you to invest as much as possible.
The company requires you to pass verification before withdrawing money. To do this, you will need to confirm your personal data. In particular, you need to provide proof of identity and place of residence. For this, you will need to upload scans of your ID card, passport or other documents, utility bills, and possibly a bank statement. BBanc may also ask for other documents.
The site has a special section with education. It is presented quite fully. There is a division according to the levels of knowledge of the trader. The information is provided in the form of small videos where the speaker covers various topics..
BBanc also offers to become a member of the affiliate program and receive money for referrals invited to the site.
Is BBanc a Scam?
So, the broker’s offers are not very similar to those that will be of interest to professional traders. Rather, it looks like a scam, but let’s take a closer look.
Legal Information and License
The management company of this broker is located in the offshore zone of Saint Vincent and the Grenadines. It is a popular jurisdiction for dubious firms that are trying to avoid responsibility. The local FSA regulator does not issue a license for a Forex, CFD, or binary options broker.
In other words, such platforms as BBanc are beyond the control of supervisory authorities and may conduct dishonest activities. Hence, there is such a high leverage on the site and an offer to receive bonuses to the account. By the way, the company was also registered quite recently. It did not exist until 2022.
Bbanc.com Domain Info
Let’s check how long the BBanc has been in existence, and whether the words of the founders correspond to the truth. The domain of this broker appeared almost 10 years ago. Apparently, everything is true.
However, the web archive shows that until 2021 the domain was put up for sale. The company received a certificate from the FSA only in 2022. In the same year, it rented the domain on which the official website was located. By the way, reviews that began to appear only six months ago also speak about a small work experience.
Among the ways to contact BBanc, there are only email and phone numbers. The office address is not specified because it simply does not exist. It is quite difficult to contact support by phone. Managers often simply do not answer calls. The same situation is true with responses to emails.
The most disappointing thing is that BBanc has several clones, including One Capital Invest, SMG Broker, and others. The websites of these companies are practically no different from each other. Most likely, they belong to the same creators.
Pros and Cons
- A small minimum deposit.
- Several account types.
- Fake legend.
- Clone sites.
- A short real-life period of work.
- Offshore registration.
- No license.
- Negative reviews about BBanc.
Frequently Asked Questions (FAQ)
The company offers CFD trading, participation in an affiliate program, and education.
According to the broker’s terms, the minimum deposit on the site is 250 euros.
No, this is an offshore broker that operates without any supervision or license. Several regulators, including the FCA, have already warned traders that it is not worth trading with BBanc.