If you do not want to lose your money - do not cooperate with b-finances.com
By The Forex Review - 24 / January / 22 748
Dominick Bell
BrownFinance is another scam with a tarnished reputation. Let's try to understand why this trader has a tarnished reputation by studying the features of his activities and find out: is it worth transferring your time to him?
The official website and employees of the organization report that BrownFinance offers various programs that are used for Forex trading. In fact, our employees were unable to access them even in demo mode. This already raises suspicions, and therefore we strongly recommend avoiding BrownFinance - Forex intermediary, in order not to get into trouble.
BrownFinance - criminals?
The investigation should begin by examining data from open sources, which are located on the office's website. For the convenience of readers, we will tell it in an accessible form.
Jur. BrownFinance's address is Majuro Marshall Islands MH 96960, Trust Company Complex Ajeltake Road Ajeltake Island. In fact, the enterprise is a subsidiary of a company that is allegedly located in the Marshall Islands.
No one can vouch for the accuracy of this information. However, it is very difficult to find an organization in this territory. And yet, you can find a company on sites that collect information about organizations offshore.
Of course, no data on BrownFinance was found. There is not even an organization with a similar brand. Because of this, our employees could not find any mention of the head of the enterprise. Accordingly, it can be openly declared that BrownFinance is lying to users and hiding information. The lack of information about the director is reliable evidence of the illegal operation of BrownFinance.
And if official data were present, this is not enough. The Marshall Islands do not have specialized permits for regulation and operation in the Forex financial market.
After all, offshore companies attract breeders precisely by the lack of control. So even the presence of an organization in the registers does not give confidence in its reliability. You can't follow laws if they don't actually exist.
Leverage from BrownFinance is another method to lure money
And although it is clear that BrownFinance is a scammer, let's consider another suspicious nuance. On the company's website, you can find information about the possibility of trading on financial markets with a leverage of one to 400 or more. Nevertheless, from the point of view of legislation, such a ratio is excessively dangerous. Because of this, it is not allowed in civilized states. Due to current restrictions, most official companies apply leverage up to 1 in 30 or 1 in fifty.
The exception is Switzerland, whose companies are highly trusted. Because of this, it is Swiss brokers that are chosen by qualified or gambling citizens who are ready to take risks.
Therefore, in order not to be deceived, you need to know the current leverage limits. If you understand that a company registered in the UK is not capable of trading on the Forex financial exchange with a leverage of more than one in thirty. In the event that you are promised more, then most likely they are going to deceive. This scam works like this: the user is forced to take on a large debt and transfer funds to the scammers.
Can I try to cooperate with BrownFinance? In no case!
Brown Finance is a scammer? Do they have permissions?
Of course no. Before transferring personal funds to a broker, you need to check all the information about it. As a rule, pseudo-brokers are not regulated by the state and have a shadow center involved in management. In case of problems, they will not come to the aid of the client.
You cannot file a complaint against the actions of a bred with one of the regulatory organizations:
- FCA - Financial Conduct Authority;
- CySEC - Cyprus Securities and Exchange Commission;
- ASIC - Australian Securities and Investments Commission.
Strong states will not allow dishonest brokers like BrownFinance to exist. Therefore, prudent people should avoid dubious offices, do not spend money on them.
Broker BrownFinance has a negative balance.
Compliance with laws is a serious issue that we regularly talk about. The presence of control and regulation ensures that organizations will diligently fulfill their obligations and their clients' investments will not be affected. In addition, all registered brokers must protect their users from losses. To do this, regulators in England and the EU oblige the company to provide protection against a negative balance. This prevents the client from spending more than they have on their balance sheet. If the balance still goes into a negative value, then the company offering the services must return it to 0.
BrownFinance is a Forex broker that allows you to work with a negative balance. This is usually done so that the trader spends the maximum amount of money by patching up a hole in the balance sheet. BrownFinance is a scam that spends clients' finances, and over time requires them to liquidate debts using methods of psycho-emotional pressure. In case this has already happened to your loved ones or to you, remember - you can’t make concessions. No matter how they threaten, scammers are not able to cause physical harm. There is no legal way for criminals to get your deposits.
BrownFinance are scammers, not an official high risk trader. This is evidenced by the lack of registration and official papers. Because of this, BrownFinance users' funds will not be protected.
BrownFinance accounts - withdrawal and replenishment
On the official website of BrownFinance, you can find many options for replenishing the balance, like with decent companies. We failed to check the deposit method due to AML and KYC. However, citizens invest in order to earn. Accordingly, we are interested, first of all, in the way of withdrawing money. Unfortunately, BrownFinance will not allow you to get your funds back.
In addition, experienced criminals manipulate citizens so that they replenish the balance as often as possible.
The principles of cooperation with BrownFinance are described incomprehensibly, but our specialists were able to find important information in the FAQ section. BrownFinance allows itself to withdraw funds for more than three months of inactivity. The amount of the fine is not specified anywhere. With this, BrownFinance will charge you illegal fees that cannot be challenged.
In addition, the trader simply has nowhere to turn for help.
Significant earnings with BrownFinance? Not!
Do you really believe that it is real to get income by becoming a victim of scammers?
However, BrownFinance employees promise serious income, quick earnings, in the shortest possible time. Such offers are very attractive, but it is with their help that swindlers lure ordinary people into their networks and steal their money.
With the help of social networks, scammers make a large number of profiles that promote non-existent services. A large number of Instagram profiles show us "successful success": photos with luxury cars, data on successful auctions, holidays in prestigious resorts, expensive purchases. They act on the envy of ordinary citizens who want the same life, they push scammers into the clutches.
The goal of scammers is to get your phone number or other contact. After that, BrownFinance representatives will start spamming and calling, guaranteeing serious receipts, tempting them to pay them immediately. The arguments for starting cooperation can be different, for example: combinations of celestial bodies and constellations, the lunar calendar, etc.
Some citizens may even believe that profits will come soon. But BrownFinance is a scam. Criminals will embezzle your deposits and try to steal more. The fraud will only stop when the victim runs out of currency, or the perpetrators themselves decide to stop. BrownFinance will easily announce to you that you need to invest even more to get your money back, and they will only stop when they realize that there is nothing more to steal.
Reviews about BrownFinance from victims
Before investing currency in a dubious enterprise, find out what citizens who have experience of working with it write.
After reading special portals, media and social networks, our specialists were able to find an insignificant number of reviews. Absolutely all the positive reviews are clearly custom-made, but the bad ones look like real ones. Therefore, BrownFinance is an unscrupulous internet broker misleading its users. If you are planning to invest, we do not recommend doing this.
Are you planning to become another victim of a divorce? Not? In this case, check brokers and information about them, consult knowledgeable traders, and only then take steps. There are a lot of scammers in the Forex market, and BrownFinance is one of them.
What software does BrownFinance work with? Metatrader 4, 5
On the official website of BrownFinance, there is information that they offer MetaTrader 4 and MetaTrader 5 software, which are already known to all traders as effective tools for working on the Forex exchange. Alas, neither our employees nor ordinary traders could test the software. The fact is that you can get the opportunity to work only by registering through KYC or AML. They are used to counter the legalization of capital. That is, you need to transfer personal data to BrownFinance, namely:
- an official document confirming the registration of an individual
- a document confirming the presence of a certain place of residence (payment for paying a communal apartment);
- official paper confirming qualifications and seniority.
Since BrownFinance is only trying to appear to be a respectable stock trader, it should not share personal information. Such firms try to deceive law enforcement agencies and hide information about themselves. In the event that personal data gets into their claws, then there is a serious possibility of their transfer to third-party companies. In addition, personal information may be used in illegal schemes.
Cooperation with BrownFinance using a demo account. Is it possible?
Sometimes, even the absence of data makes it possible to understand a lot about the organization. For example, BrownFinance for some reason does not provide customers with the opportunity to try out the software or create a demo account. According to the law, all legal companies must provide access to trial services so that a citizen has the opportunity to test his abilities using game currency and only then register on b-finances.com, send money to an account. In the event that there are no trial versions of the service, this is extremely alarming. Our doubts about BrownFinance are only confirmed.
Useful information about Meta Trader
Meta Trader 5 and Meta Trader 4 software is often found in legal firms that operate in a legal field. This is the best choice for making money in the Forex market.
Leading positions among programs for the financial market, Meta Trader provided convenient tools for creating tables and charts, a lot of indicators, advisers. In addition, more than 10,000 different developments and applications from qualified programmers can be applied. But, of course, in order to effectively apply these programs, you need to spend time and effort on training.
Financial laws are not for scammers!
BrownFinance's presence in Australia and the UK also raises suspicions. Brokers, in order to work in these countries, are required to obtain official papers from relevant organizations:
- ASIC (Australia)
- FCA (England)
These official papers are needed for legal work on the Forex exchange. In the event that they are absent, the company faces a large fine, and the owners - the need to answer according to the law.
To check if BrownFinance has official papers, we will find data on the Companies House website (Britain).
After some time, our specialists failed to find the company in the lists of the organization. Therefore, we can state that BrownFinance is a scam. At best, b-finances.com openly lies to their customers about regional offices and clearance.
Are you going to be a victim? Research information about organizations before you start working with a yuroker. Only companies with good fame and a long time of activity deserve respect.
We advise you to work only with legal organizations. Cooperation with deposit protection organizations allows official firms to promise the safety of stockbrokers' investments.
What is the result?
The official papers published on the b-finances.com website are questionable at best. It is difficult to say that this is a scanned official paper or a redone picture. In any case, they cannot be called official papers. The rights and obligations in the user agreement are vague. There is no information about the real date of appearance of the office, information about the owners. This is used to avoid liability to traders and the law.
BrownFinance is a liar who wants to touch the official stockbroker. This is a scam to extract investments from naive traders. Similar companies do not exist for a long time. When} the number of outraged reviews becomes too large, they will disappear, only to eventually reappear under a new name and continue to deceive traders.
When was the registration of the online broker BrownFinance?
The website contains information that the company has been operating for more than 10 years. In addition, they provide premium quality services all over the world and their employees are experienced traders.
In addition, we are shown various thematic awards, broadcast about offices in Australia, Great Britain and New Zealand. Users are served by several tens of thousands of specialists who work in regional offices or remotely from different parts of the world. It sounds tempting, but our employees decided to clarify this information.
The first stage of the analysis was a study of the BrownFinance website. To do this, our employees found the domain name registration data. It turned out that less than a month had passed since the registration.
The phone number found on the website. Checking and summarizing.
After examining the data on the number on the BrownFinance website, we found that it was used by the exchange trader Comax Invest. It is also associated with a large number of cases of financial fraud, as evidenced by bad reviews on the Internet. Of course, this information only confirmed our fears. Fraudsters do not even try to hide, relying on inexperienced traders.
BrownFinance Swindle Algorithm:
- A huge number of promotional posts are created on social networks and websites. This is necessary to get the maximum number of hits from people;
- Having received an email and a phone, BrownFinance employees start calling and texting with income guarantees in the shortest possible time;
- Scammers swindle credit card details, pretending to want to help with investing. You are under no obligation to share information with them. You can not send them personal information if you do not want to get into debt;
- Over time, scammers will do everything to get you to transfer more funds. If you close the trades without profit, they will begin to advise you to close the loss with additional investments. In case of a successful transaction, they will recommend sending a large amount of money to the account in order to improve profits;
- If a client tries to withdraw funds, BrownFinance representatives will try to convince him to change his mind. Whenever possible, criminals will try to get the victim to send more money.
Is BrownFinance a Forex Broker? Of course no. These are scammers who swindle currency from naive users under the guise of a regulated firm. The personal information of BrownFinance employees is securely hidden so that it is impossible for law enforcement organizations to find it. This makes it possible without fear to deceive users.
Conclusions of our employees: BrownFinance is a scam
Summing up, we will try to present all the evidence indicating that BrownFinance are scams:
- The company does not have registration even in an offshore country.
- During the preparation of the investigation, the site of a non-broker is not even 30 days old, which means that all data on non-brokers is a scam.
- The online broker does not have a legal basis for providing brokerage services.
- Pseudo-broker has no regulator.
- The addresses of scammers are fiction.
- Official documents of the organization do not have a legal basis.
- Having offices in the UK, New Zealand and Australia is a scam.
- The broker's phone is assigned to financial scammers and in addition to the same Internet broker.
- Outraged reviews about BrownFinance from deceived citizens.
- No option to create a test account.
- There is no way to check services without transferring personal data.
- There is no negative balance protection.
- Illegal leverage number.
- Theft and subsequent use of confidential information is likely.
- A bogus broker gets a passivity fine after ninety days.
- Endless moral oppression from the employees of the fake organization.
- There is no way to return the money when the scammers decide that you do not dare to invest more money.
Brown Finance is a scam. We are 100% convinced of this. Rating from one to 10 - zero!
For your safety, we have compiled a blacklist of brokers.
