Budsfx is a broker possibly based in Seychelles as its parent company Cubic Services Ltd is registered in Seychelles. There is no mention of where the broker is based on its website however name of Cubic Services Ltd has been mentioned. Seychelles is the place popular among shady brokers due to its low registration and taxes. Budsfx also seems a shady broker as it tries to hide its identity. Let’s move to what the broker is offering to its clients. Budsfx supports six trading platforms which is good but it doesn’t support the most popular platform MT4 or MT5. The broker’s product portfolio has many currency pairs, stocks, various CFDs on precious metals, commodities, and Cryptocurrency. The leverage ratio provided is 1:200 which is not that high.
The charges by Budsfx as transfer fees is very high around 25-50 dollars per transaction on wire transfers. We know that the cost of trading not has much importance as compared to the safety of one’s investment but the charges levied by the broker is still important. Keeping all the facts aside but considering the fact that the parent company of Budsfx, Cubic Services Ltd has been blacklisted by the CNMV, Spain’s Financial regulator, we could not trust this broker.
If you have traded with Budsfx and believe you have been scammed by them you have a chance to get your money back. Many unregulated brokers have been found to scam traders. At Broker complaint registry it’s our job to provide you detailed Budsfx review and make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money.
Is Budsfx a scam or legit broker?
Budsfx has been suspected as a scam broker. We don’t recommend to trade with them and if you are trading with Budsfx contact them immediately and try to get your fund out. If the Budsfx has done the following, you have probably a victim of Budsfx scam broker.
Reason to suspect a scam broker is in action:
The broker froze your account
The broker blocked your account
You cannot login back into your account
Money has been taken out from the account
The broker doesn’t take your calls
The broker shut down his website
You noticed the broker took money out from your bank account with out your permission
The broker is offering you a bonus
The broker is offering you to fund more money into the account after you lost a large sum
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.