Any serious scam forex brokers list will include Bankefex, an elusive scam broker who keeps on rebranding. While the company claims to be regulated by the Mwali International Services Authority (MISA), I could not find it on the regulator’s list of brokerage companies.
Bankefex image
Discover why Bankefex is worth avoiding in my unbiased Bankefex review below. But before that, here’s a brief table showing the company’s summary:
| Company | Direct Prime LTD |
| Website | bankefex.com |
| support@bankefex.com | |
| Telephone Number | +18009612110 |
| Tradable Assets | Stocks, currencies, indices, commodities, digital currencies, and other markets. |
| Physical Location | PB 1237 Bonovo Road, Fomboni, Comoros. |
| Account Types | Registration, Beginners, Intermediate, Advanced, Professional, and Premium. Regulation. |
| Minimum Deposit | $250—$500,000, depending on the account type. |
| Trading Platforms | Webtrader and Bankefex trader. |
| Leverage | Variable and up to 1:200. |
| Transaction Fees | No transaction fees. |
| Deposit Methods | Visa, MasterCard, and cryptocurrencies. |
| Restricted Countries | USA, North Korea and Iraq. |
Scam Broker Bankefex Review: Why This Broker Is Scam
Here is why Bankefex is a scam broker:
1. Bankefex Website Displays Fake Awards
Like Swift Trading and other scam brokers that I covered earlier, Bankefex’s website is full of fake information. For example, it displays false awards, lying to readers that the company won the following three awards between 2021 and 2022:
- Best Broker 2021.
- Best Trading Platform 2021.
- Best Broker 2022.
However, upon investigation, I discovered that bankefex.com was launched only a few months ago this year. Meaning that it did not exist in 2021 or 2022, and there’s no way award-givers would award a non-existent company.
As if that were not enough, the website goes ahead to display a fake registration number (HY01022038) and license number (T2022144). These numbers are fake because the company is not even on the Mwali International Services Authority website’s list of registered brokerage firms. Don’t forget that the company claims to be registered by this authority.
2. An Unregulated Broker
Another indication that Bankefex is a scam is that it’s unregulated like all other fraudulent brokers. The reason is so that they can con unsuspecting traders without risking legal consequences.
3. Bankefex Seems To Keep Off Social Media
Additionally, Bankefex lacks Facebook presence, a big red flag for a company that has supposedly won the Best Broker Award twice and the Best Trading Platform award once. Nowadays it’s almost impossible for a popular company not to have a Facebook business page.
Similarly, Bankefex doesn’t have a LinkedIn page. Yet as the professional networking puts it, “Investing in social media platforms is a smart move for businesses, as it can lead to increased brand awareness and sales.”
Honestly, without strong brand awareness, which mostly comes from social media nowadays, there’s no way Bankefex would have won the Best Broker award twice and the Best Trading Platform award once, as it claims.
It’s either Bankefex is oblivious to the benefits of investing in solid social media or it’s avoiding it altogether. The latter is more likely to be the case because it’s a strategy for scammers to minimize their digital footprint.
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Did you know that a company can improve conversion rates by between 1% and 3%, the latter, which is a good rate? That’s at least according to Syntactics, a company that offers business and IT outsourcing solutions. At the same time, Mailchimp puts a good conversion rate between 2% and 5% as indicated in this post.
4. Broker Has a Bad Reputation On YouTube
On the contrary, I found Bankefex on YouTube, where a blog reported it as a scam. You can watch this unbiased Bankefex review on the video-sharing platform.
5. Broker Not Mentioned On Trustpilot
Similarly, I did not see a mention of the company on Trustpilot. This was likely because the domain was still fairly new, only 5 months old. That means not so many clients have interacted with it. Yet the company claims to have won three accolades between one and two years ago.
5. Scamadviser Doesn’t Trust bankefex.com
Even though Scamadviser gives bankafex.com a 57/100 trust rating and has no customer review of the site so far, it still warns that this website is suspicious. The scam checker website points out that several spammers and scammers use the same registrar as Bankefex. In addition, it gives several other convincing reasons why it finds bankefex.com to be a suspicious website as you can see on this page under “Negative Highlights.”
My Final Verdict On bankefex.com
In conclusion, www.bankefex.com is an elusive scam broker who follows the same scripts as other scammers I’ve covered in Scamreader. They are unregulated, keen on minimizing their digital footprint, and are good at making false claims. Avoid this broker at all costs. Oh, and as a side, I found out from Crunchbase that there’s a legit brokerage company known as “Bankex.” It’s located in the US and funded by GSD Venture Studios among other investors. GSD Venture Studios is a big company that helps businesses around the world integrate ChatGPT to maximize profits and minimize costs. Might the scammer have deliberately chosen the name Bankefex to confuse many people with Bankex, which is a legit brokerage? Share your thoughts and comments in the comments section below.
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