Braxton Wealth Management Review

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Braxton Wealth Management

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Overview of Braxton Wealth Management

Braxton Wealth Management is an online wealth management and investing platform with little information about the specific services they offer. Braxton Wealth Management shows several signs of being a risky or even fraudulent company. Here’s a breakdown of the red flags:

  • Unregistered: According to the Autorité des marchés financiers (AMF) in Quebec, Braxton Wealth Management is not registered and not authorized to solicit investors. This lack of registration raises serious concerns about their legitimacy.
  • Negative Reviews: Online reviews of Braxton Wealth Management are overwhelmingly negative. People report difficulty withdrawing funds and detail their negative experiences.
  • Unregulated Platform: There are warnings from financial authorities in Switzerland that Braxton Wealth Management is offering financial services without authorization. This means your money wouldn’t be protected by regulations.

Overall, due to the lack of registration and negative reviews, Braxton Wealth Management is a high-risk investment and should be avoided.

Regulation and Compliance of Braxton Wealth Management

Braxton Wealth Management appears to be completely non-compliant with regulations. 

Reports from the Canadian Securities Administrators (CSA), the Alberta Securities Commission (ASC), and the British Columbia Securities Commission (BCSC) indicate Braxton Wealth Management is not registered to trade or advise on securities in Canada. This means they are operating illegally in those regions.

The Swiss Financial Market Supervisory Authority (FINMA) has issued a warning that Braxton Wealth Management was providing financial services without authorization in Switzerland. This further emphasizes their lack of compliance.

Their website lists an address in Zurich, Switzerland, however, a search of the Swiss commercial register shows no entry for Braxton Wealth Management. This casts doubt on the legitimacy of their claimed location and potentially their entire operation.

In summary, Braxton Wealth Management shows clear signs of non-compliance with regulations in both Canada and Switzerland.

Products and Services Offered by Braxton Wealth Management

Braxton Wealth Management’s website and other online sources, provide little to no details about the specific investment products or wealth management services they provide. This lack of clarity is a major red flag.

Some reviews mention forex and digital asset trading but these claims cannot be verified and should be viewed with skepticism considering the regulatory warnings.

It’s important to remember that due to their lack of registration and scam indications, any advertised products or services from Braxton Wealth Management are likely not legitimate.

Are Funds Safe with Braxton Wealth Management?

Based on the information above, it is highly unlikely that your money is safe with Braxton Wealth Management and there is a good chance they could mismanage or even steal your funds. Regulatory bodies in Canada (CSA, ASC) and Switzerland (FINMA) have issued warnings about Braxton Wealth Management. They are not registered to offer investment services.

Their claimed address in Zurich cannot be verified through the Swiss commercial register. This lack of transparency makes it difficult to know who you’re entrusting your money to.

Additionally, there’s no clear information about how Braxton Wealth Management handles client funds. Reputable wealth management firms have clear procedures and safeguards in place to protect investor assets.

Customer Reviews

Several customer reviews seem to highlight the same patterns, commonly seen in investment scams: 

  • Immediate Response and Urgency: They respond quickly to emails, urging immediate action due to “limited” spots, leading to a link that may install spyware on your computer.
  • Low Initial Deposit and Bonus: They lure you in with a small deposit, often $250 USD, accompanied by a bonus credit, creating a sense of affordability and opportunity.
  • Personal Information Fishing: They inquire extensively about your financial situation, targeting middle-aged individuals with retirement savings or pension funds.
  • False Financial Planner Setup: They assign you a supposed financial planner who suggests using WhatsApp for communication, a departure from typical professional channels.
  • Dubious Trading and Bitcoin Wallet Setup: They make an initial trade to show a profit, then prompt you to set up a Bitcoin wallet for withdrawals, claiming it reduces tax liabilities, which is false.
  • Pressure for Larger Deposits: They pressure you to upgrade to higher deposit tiers, indicating the initial $250 is insufficient.

Conclusion

Braxton Wealth Management: Steer Clear and Protect Your Finances

Braxton Wealth Management presents a clear case for caution due to their unregulated activity, warnings issued from Canada and Switzerland, suspicious location, absence of clear information about products, services, and company history, and negative reviews. 

Avoid Braxton Wealth Management altogether. Prioritize established firms registered with reputable authorities. Remember, protecting your finances is crucial. Don’t be swayed by promises or pressured into investing with unverified platforms.

Report a Scam to BrokerComplaintRegistry

If you’ve been ensnared by this scam, it’s crucial to cancel your credit card, change online banking passwords from a different device, and have your computer checked for spyware. In addition, it is wise to report your experience to regulatory bodies and seek support from the BrokerComplaintRegistry whose mission is to assist victims of online fraud.