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BuzzTrade received a tremendous amount of popularity and success during the initial days after its introduction in 2015. AirSoft developed this platform but it was surprising to see that the broker offered most of the features associated with TechFinancials and SpotOption…
The layout of BuzzTrade website was similar to that of a broker based on SpotOption. The history was displayed at the bottom, the charts were arranged to the right, and the assets were listed to the left of the screen. The candlestick charting was available as well.
BuzzTrade scam warnings emerged suddenly and too the traders by surprise. We’ll get into the details later. Let’s have a look at the background of the apparently impressive and promising platform.
If you came to this review of BuzzTrade looking for some specific information in particular then you can use the quick navigation links that we’ve put together below to jump straight to whatever information it is you came here looking for.
- BuzzTrade Background
- Is BuzzTrade Regulated?
- BuzzTrade Complaints
- BuzzTrade Withdrawal
- Is BuzzTrade a Scam?
- Our Verdict on BuzzTrade
- Get Your Money Back From BuzzTrade
- Our Suggestion For Making Good Money Online
AirFinance Pro Ltd. owned BuzzTrade. The platform was introduced in 2015 and was operated from 16 Spyrou Kyprianou Avenue, Floor 2, Office 201, Limassol, Cyprus.
The platform was appreciated for various reasons. It was innovative yet simple and a bit conventional in terms of the website layout. There were some issues about the transparency of the broker. AirFinace Pro Ltd. had a clean and transparent history but the case wasn’t the same with BuzzTrade.
Is BuzzTrade Regulated?
BuzzTrade was regulated by CySEC (License # 206/13). We went through the official CySEC documented record and were surprised to realize that the license 206/13 was associated with YTF Trade Ltd. It was extremely confusing. How could a website mention a license number that is actually registered with some other company?
Upon investigation, we came to know that AirFinance Pro Ltd. is actually the old YTF Trade Ltd. The broker’s website never took it as a significant consideration. The clients started to discuss this issue and soon the administration clarified everything on the website.
We also noticed that AirFinance Pro Ltd. also owned Binary Royal and it confused us again. BuzzTrade was much more popular as compared to the ever-weakening Binary Royal. We don’t see a reason for introducing a couple of platforms because they could have only focused on the one generating the best results.
Things didn’t go as expected; CySEC suddenly decided to suspend AirFinance’s license in mid-2016. BuzzTrade was just one year old at that time. The suspension remained effective till September 2016. AirFinance Pro Ltd. never thought about renewing its license.
If you try to search for buzztrade.com you’ll be directed to the Uniregistery Market page to see that buzztrade.com (domain) is on offer for $6,488. Well, a promising broker emerged like the dawn in the morning but had to disappear by the dusk. It was a quick downfall. Even a regulated broker was taken down for not complying with the law.
The association of AirFinance Pro Ltd. with Binary Royal served as a stigma. It was a relatively low-grade broker and the professional didn’t like it too much.
December 2016 was the coldest for the BuzzTrade clients, the platform was irresponsive, the website didn’t operate as it did before, and Binary Royal was shut down. It was the beginning for the downfall because people still didn’t realize that the broker had gone for good. They were hopeful that the website will return with its agility and speed but it this hope couldn’t materialize.
For a brief period, the rumours of BuzzTrade’s affiliation with FC Porto (as official partners) spread but we never managed to determine if it really was the case.
Traders using this platform was utterly disappointed. Perhaps, this is the first time we have witnessed that the traders didn’t do much wrong. They opted for a regulated broker, they made a careful choice, and even then their luck tricked them. Well, it happens when you are on the quest of generating big profits in quick successions.
The provision of the legitimate identification documents was mandatory; it was a one-time requirement. After the approval, you could submit the withdrawal request using wire transfer, Credit Card, Neteller, or Skrill.
Is BuzzTrade a Scam?
A bird’s eye view doesn’t reveal anything significant about the possibility of a malicious activity. We never took that line after realizing that the company was regulated by CySEC. The warning from CySEC (2016) reversed everything. Upon investigating a bit deeper, we came to know that BuzzTrade has a number of sister sites including YouTrade, UpTrade, and YouTradeFx.
These brokers also stopped operating soon after the CySEC warning. It was a striking revelation. All of these brokers are known-scams. This is what forces us to believe in BuzzTrade scam complaints. But we must give the devil his due; it was a smart scam, we have to admit. It covered itself under the pious shade of CySEC regulation and dissolved into space without even letting its clients realize the truth, even for a month after its disappearance.
Our Verdict on BuzzTrade
Extreme care! That’s what we can recommend after knowing the truth about BuzzTrade. It also forces us to pay more attention to the updated documentation and latest warnings issued by the legal authorities. It is as important as staying updated about the latest market trends. You first need to protect your money to invest it somewhere. Losing money on such tricky platforms is highly discouraging. We don’t blame traders at least in this case. But it presents us a good lesson and we need to remember it for the rest of our lives.
Get Your Money Back From BuzzTrade
Have you fallen victim to the BuzzTrade scam? There is no need to be embarrassed, there were many people caught out by the scam because it was simply so convincing… However the good news is that providing you put any embarrassment aside & take action, there is a good chance that you can recover your lost funds.
We have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from scammers and it is especially geared towards binary options scammers.
To date the guide has helped thousands of people to successfully reclaim their lost funds & we therefore know that it can help you too so we highly recommend that you check it out if you have lost money to BuzzTrade.
Our Suggestion For Making Good Money Online
Hopefully you were not caught out by the BuzzTrade scam – but even so you will likely still be disappointed to hear that it is indeed a scam & that you cannot make money with it… But don’t worry too much because there are actually several other legitimate ways that you can make good money instead.
You see here at Stopping Scammers we’ve investigated various opportunities & whilst we have come across many scams, we have actually come across many legitimate ways to make money too.
There has been 1 opportunity in particular though that has stood out from all of the rest & as a result we have decided to name it our number 1 recommendation for working from home.
So if you are still looking to make money then you can access our number 1 recommendation for free by clicking the link below: