EXCLUSIVE

Budsfx

Score: 1/5

RATING: 1 / 1 

REVIEWSBUDSFX IS AN OFFSHORE BROKER.

YOUR MONEY IS NOT SAFE.

Trading Accounts and Conditions

Trading accountMin. depositMax. leverageSpread
Bronze N/A1:2002.6 pips
Gold N/A1:2001.2 pips
Platinum N/A1:2000.7 pips
Diamond N/A1:2000.2 pips

In the present review, we will highlight everything you need to know about forex broker BudsFX: its trading conditions, accounts, platforms, and most importantly – the company behind it. So, read it carefully and decide for yourself whether investing with this broker is safe.

BudsFX Disadvantages

Registered offshore

BudsFX says to be a trading name of Cubic Services Ltd., a company with a registered address in Seychelles. This offshore zone is a popular forex broker destination for providers looking for low registration fees and taxes, as well as freedom from all kinds of regulatory requirements and oversight.

In other words, forex brokers registered on Seychelles are not subjected to strict oversight on the part of a governmental agency, nor have to follow any stringent rules, such as keeping clients’ funds in segregated accounts, providing insurance in case of bankruptcy, etc.

This means that clients of such brokers have no assurance for the security of the funds invested, and no authority to turn to in case they have legitimate complaints. That is why we advise investors to avoid offshore brokers as a general rule.

Company blacklisted by the CNMV

We found out that the company behind BudsFX also operates another brokerage brand – Global Markets.

Although offshore brokers are not authorized to operate on regulated financial markets, many of them illegally target investors in the USA or the EU. Cubic Services Ltd. is no exception for that – we found out that the firm was blacklisted as a potential scammer by Spain’s financial regulator, the CNMV.

 MT4 not available

Although Sirix is not a bad platform, many investors prefer the industry-leading MetaTrader4 (MT4). The MT4 is user-friendly, easily customizable, has great charting options, and is especially popular for its automated trading bots (Expert Advisors). This is the reason why most traders know well and enjoy using this trading terminal.

Uncompetitive spreads

Although we believe that the cost of trading is not as important as the security of your investment, a forex broker’s spreads are still essential. That said, the spreads announced on BudsFX’s website don’t seem attractive at all, at least those on the most basic account type – Bronze.

High transfer fees

Last but not least, the transfer fees BudsFX charges appear quite high – EUR 25 – 50 for wire transfers. On top of that, the broker reserves the right to introduce additional charges and fees.

Click on the image to zoom in.

BudsFX Advantages

Sirix platform

As we mentioned earlier, BudsFX supports Sirix trading platform. Developed by Leverate, this platform is an all-in-one Forex and social trading terminal. It has a user-friendly interface and is equipped with intuitive charts and graphs. Its most outstanding feature, however, is the “Social Stream”, which includes live trades by other traders (as well as other information, such as how many people copied the particular trade), which you can directly copy.

Good selection of assets, up to 1:200 in leverage

A possible advantage the broker’s rich product portfolio, comprising many currency pairs, and various CFDs – on commodities, precious metals, indices, some stocks and even major cryptocurrencies.

Furthermore, BudsFX is among the forex brokers offering quite high leverage ratios, reaching 1:200. While the risk-takers among you will probably enjoy this option, we would advise newbies to educate themselves about the risks involved in margin trading before using high leverage levels. 

Conclusion

BudsFX is an offshore forex broker, which is not overseen by any financial regulatory agency. On top of that, the company operating the brand was blacklisted by the CNMV, which inclines us to suspect that it might be one of the many fraudsters on the forex market.

As usual, our best advice to investors is to deal only with brokers licensed by reputable financial agencies like CySEC in Cyprus or ASIC in Australia. These companies are subjected to a number of requirements and strict supervision, which provide significant assurance and guarantees to their clients.


And finally, here are the highlights of the present review of BudsFX:

ProsCons
Trading on Sirix platformRegistered offshore
Generous leverage, a solid selection of assetsCompany blacklisted by the CNMV
 Uncompetitive spreads
 MT4 not available
 High transfer fees

21 replies on “Budsfx”

I regret the day I signed up with them, some nice lady called me and promised me to make thousands of dollars every month if I gave her 2000 dollars.
I am an old man, I dont work and now I dont know what I can do to have my money back.
They say I can take my money back since I have bonus, I never asked for it! scammers!

Man are those guys serious? I invested with them few months ago 3000$, after that they called, and sent emails, and tried to reach me in every way. I asked one thing from them to double that amount and I will invest more. They didn’t give a damn about my words no one made profit or even bother to explain how to make it, after I tried to take the money back but I couldn’t. I decided to let it go, and five days ago after 6 months, they called me again insane people! And said if I give them 3000$ more they will recover what I gave them few months ago! I mean guys really!
Skip them, serious scammers!

They are so nice on the phone but once you deposit they lose all of your money and want you to add more so you do and it goes well for a couple of days and then they lose it all again and keep asking for more. Once you say no and you have lost you money you never here from them again, sometimes they call trying to get you to do it again DON’T!!!
Very bad company horrible customer service and just rude.

1st They call you a million times and beg for your money. Finally after some research I decided to put some cash in. They lost it so fast. So again after them calling saying we can fix it i did it again and it started to show profit for a day or two then they lost it all again. These people suck and don’t know what they are doing. They are for sure a scam company. Don’t invest with them you’ll hate yourself for it.

I’m pissed with these people!! I invested $2000 USD and started talking with their broker, what I didn’t tell them was that I did and do have experience with trading on the market. The 1st broker wanted me to put some of my money into something i didn’t want to and he got pushy about it and again I said no. He told me I was being a difficult client so I asked for a different broker and watched what the 1st one wanted me to invest in go down. The 2nd Broker was a much nicer guy but he didn’t know anything as to what he was talking about, I realized quickly they are a scam/ fraud company. I wanted to shut the account down and withdraw my money and all hell broke loose. It took me over 3 months to get some of my money back, they didn’t want to release all of it. I’m still fighting them for it now.
FRAUD/RUN/SCAM!!!!!!!!

I am just blown away at how terrible this company is. I made such a bad mistake investing with them.
I have some knowledge of how the market works but even I know a bad investment when I see one, they wanted me to invest in something I didn’t and so I said No and the guy got mad a me.
I decided to go with another company and tired and am still waiting 4 months later on my money. They’re a scam for sure! don’t invest with them.

Called me and tried to get me to invest with them so I did some research on them and found out they are a bad SCAM company.
Don’t invest with them use a good company that won’t steal from you.
When I said no I don’t want to invest with you they started yelling at me so I hung up. They called me millions of times after that. I can’t even block them because they call from so many numbers.
SCAM

Well they call you so much… Irritating
Once you answer they are very demanding and yell when you say i’m not interested or no, or anything like that.
They will promise and guarantee you profit and money anything to get you to deposit.
Once you do deposit like I did ( they talked me into it somehow, i was stupid I’ll admit it) they will lose your money and then tell you , you just need to invest more.
It’s crap they are just a scam company.
DO NOT INVEST WITH THIS COMPANY!!!! they just steal.

WOW! They call and call so much….
They yell at you and are pushy and demanding.
They simply take your money then tell you that you (not there broker) made a bad investment and it’s all gone, so they ask for more so you can recover.
They are 1000% a SCAM company. Don’t go with them and do your research.

This company stole my money and will not let you withdraw it.
They yell at you one minute and are nice the next. They promise you everything and give you nothing but bad customer service and bad brokers that don’t know what they are doing.
This company just sucks!!

All I have to say is DON’T use this SCAM!
They are horrible people that absolutely will promise you everything and then just steal your money.
Do research before you spend your hard earned money especially when it comes to investing.
FRAUD COMPANY SCAM RUN DON’T DO IT

SCAM! FRAUDS!
They promise you everything but in the end they just steal your money and you get nothing but a hard time and mad.
DON’T DO IT!
Go with a company that knows what they are doing.

I was basically robbed by this company!
I started investigating trading online with bitcoin and I signed up with this company. I made a sizable investment and started speaking with a broker about how he would do all the trading for me and all I had to do was sit and watch as he made me money. I after a a few weeks had to watch all of my money disappear. I asked them to stop and told them I them I wanted back the rest of my money they yelled at me and said we can make it back, I said no! I want to withdraw my money, It has been months now and I still don’t have my money.

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