BigMO Fx Review – Can You Rely on Recently Established Firms?

Unregulated firms often lack oversight, making it easier for them to engage in fraudulent activities without consequences. Join us as we delve into the details of BigMO Fx broker to uncover more about their operations.

Bigmofx is a recently established brokerage firm that provides trading services for Forex, CFDs, and commodities. However, it operates without regulation from any official regulatory body, leaving clients unprotected and at a higher risk of potential financial losses.

Established only last year, questions if they are reliable enough to handle investor’s finances in this complex market. The lack of regulatory oversight also raises doubts about its credibility, despite its advertised services.

Additionally, their association with the website offering ‘automated trading software’, known for fraudulent activities, adds to the suspicion.

BigMO Fx regulation – Licensed Status

BigMO Fx regulation isn’t recognized by financial authorities, making trading with them unsafe. While regulation is not the sole indicator of a broker’s trustworthiness, it typically ensures a level of accountability and protection for traders. 

Despite offering a range of market instruments and user-friendly features, BigMO’s lack of regulatory oversight and mostly negative user reviews suggest potential risks for traders. For those seeking a legit forex prop firm, read all about it in our honest Nordic Funder Review. 

Additionally, it’s worth nothing if they have alleged regulation by The Autonomous Island of Mwali (Moheli) Comoros Union since there is no entity to prove this and this data can’t be found on any other platform.

While newly established firms can offer innovative services, only a few are valid and legitimate. Therefore, it’s advisable for individuals considering this firm as their broker to conduct thorough research and consider these factors before engaging in any trading activities.

BigMO Fx reviews – User Experience

Our research team discovered several negative BigMO Fx reviews on reputable platforms, highlighting deceptive practices and fraudulent behavior. On a popular platform Trustpilot, the company received 36 reviews with a low score of 2.1. 

Reviews consist of comments describing BigMo Capital as a fraudulent company that leads investors to lose all their money. The king of feedback gives a pattern of how scam firms usually operate. Initial small investments lead to profits, but the company pressures investors to deposit larger sums, eventually refusing to release profits.

A lot of reviews shared a similar experience, warning investors to withdraw their money immediately due to shady transactions by the company’s account managers. The reviewer emphasized that while the company may start well and seem trustworthy, it eventually resorts to scam investors.

Users expressed regret over their investment and advised others, especially newcomers, not to invest with BigMo Capital. These reviews all together indicate that the company shouldn’t be trustworthy, highlighting the risks associated with investing in unregulated firms like BigMO Fx. 

BigMO Fx Accounts Types

Big Mo Fx is an expanding forex trading firm, stating it is dedicated to providing clients with top-tier forex services, technology, and support. BigMO Fx offers 3 account types.

Spread and Commission

The Gold account offers spreads starting from 1.8 pips and doesn’t charge any commission. The Diamond account offers spreads from 1.4 pips, also with no commission. The Platinum account, however, offers spreads at a raw rate, which generally means interbank rates or near-zero spreads, but does charge a commission. 

Leverage

BigMO Fx leverage can amplify your profits if your trades are successful, it can also amplify losses if the market doesn’t move in your favor. 

The Gold account offers a leverage of 1:100, the Diamond account provides a leverage of 1:200, and the Platinum account provides a leverage of 1:400. We always highlight that leverage trading involves significant risks and should be approached with caution. 

Trading Platforms

BigMO Fx platform MetaTrader 5 for

WebTrader – can be accessed directly from any internet browser, eliminating the need for software installation

Windows – desktop applications for Windows, providing a more extensive feature set than WebTrader

Android – offers traders mobility, allowing them to trade, analyze markets, and utilize Trader Terminal functions from their Android devices

iOS – like the Android app, the iOS version allows trading from iPhones or iPads

If you are on the lookout for a company that provides good trading education, be sure to read our review on SharePlanner. 

Deposits and Withdrawal

On the official website, there is information regarding BigMO Fx withdrawal. No withdrawals are processed on weekends or holidays, and requests submitted after 19:00 are carried over to the next working day. 

BigMO Fx states it does not accept responsibility for losses resulting from insufficient funds in users’ Forex accounts, and that it is the client’s responsibility to monitor margin requirements for open positions to minimize risks. 

When dealing with an unregulated broker, it’s crucial to request a withdrawal as soon as possible. However, withdrawing from such brokers can be complicated.

If you attempt to withdraw your funds, whether you’ve made profits or not, they may delay the process for several months. Your initial step should be to contact your bank or credit card issuer to explain the situation. Be sure to contact us if you experience any further problems.

Deposits

BigMO Fx allows unlimited deposits, with a minimum deposit requirement of $500. Deposits typically take between 2 to 5 business days to process. Also, there are no fees associated with either deposits or withdrawals.

Concluding thoughts on BigMO Fx

Based on our in-depth analysis of BigMO Fx, it is evident that this brokerage firm prompts doubts about its reliability. Operating without regulation from any official regulatory body, BigMO Fx exposes its clients to significant risks, including potential financial losses and lack of recourse in case of fraudulent activities. 

The numerous negative user reviews and reports of deceptive practices further underscore the risks associated with trading with this firm. Despite offering a range of account types, the firm’s actions only indicate a high level of risk for traders.

Therefore, this review should be enough for traders considering BigMO Fx as their broker. Dear investor, don’t slack, exercise caution, and conduct valid data before engaging in any trading activities with this firm.

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