BN93 Review: The Truth About This Scam Broker

In this BN93 broker review, we’re going to tell you exactly why you should avoid dealing with a fraudulent broker such as this one. In addition to the regulatory warnings that we found, we’re going to give our own take on this crypto scammer and everything it did wrong.

The first fact that bothered us is that BN93 is anonymous. Thus, everything else surrounding it is shady.  From the year they started operating to the headquarters they are based at, nothing about this BN93 broker can be found.

BN93  License and Regulation 

To cut to the chase, yes,  BN93 is unregulated. The T&C and Privacy Policy sections offer no relevant information about the broker. In the About section, BN93 claims to be headquartered in Singapore. Of course, this is a lie. We checked the database of the Monetary Authority of Singapore (MAS) and found nothing.

Furthermore, crypto trading regulations are still being developed in that country. In October 2022, MAS released two consultation papers on tightening measures regarding digital assets. The consultation period ended in December 2022 but it’s not yet known when the measures will enter into force. Hence, digital asset trading is still not well-established.

BN93 is an outrageous scam broker that lied about operating in Singapore. This anonymous broker claims to offer trading in digital assets, i. e. crypto. BN93 targets traders from the US, UK, Belgium and Portugal.

BN93Trading Software Overview

Frankly, with all that’s been revealed about BN93, we wouldn’t trust this fraudster at all. Especially not when it comes to the trading platform. Since BN93 doesn’t mention specific details about it, we believe that it’s nothing more than a WebTrader.

There’s no demo account. So, to access the platform, you’ll need some sort of code provided by the scammer. Sadly, you won’t get it until BN93 gets its deposit first, which it plans to embezzle and disappear. Most scams play out like that.

Overall, many scam brokers alike offer nothing more than just a basic web trader since they hold no regulation and this makes them unsafe.

Available Account Types at BN93

Unfortunately, this broker has not shared the account types that they have. This is a big lapse as this information forms the basis for deciding whether to join or not.

This broker has just provided a demo account that anyone can open and learn how to trade.

Failure to disclose many details like minimum investment amount, spreads, and leverage among others makes us question the transparency of this broker. Transparency is very important considering that we are in the financial investment space.

Deposit and Withdrawal Methods

As it’s expected, BN93 doesn’t say which payment methods it accepts. No surprise however if the only possible option is crypto transactions.It’s typical for scammers to use cryptocurrencies as these payments are impossible to be overturned.

This means that even if you have been deceived, you can’t return your money no matter what. Paying with crypto coins such as Bitcoin and Tether is also anonymous and in fact you don’t really know to whom the transaction is made, unlike most of traditional payment methods like bank transfer for example. That’s why there’s not much that can be done in such an unfortunate situation.

How Do Offshore Brokers’ Scam Implement?

There are many shady tricks offshore brokers pull to make their potential clients invest.

Most commonly, they will offer very high deposit bonuses, which of course come with a certain set of strings attached. To withdraw any money, you will typically need to reach an enormous turnover. Of course, that is practically impossible as the platform you will use for trading isn’t even the legit thing.

And in combination with persuasive agents that will likely call you every day to convince you this is a real deal, it can be hard to stay firm and avoid them.

Due to this and many more reasons, you should never feel ashamed if you have ever fallen victim to this type of scam as they can happen to anyone.

BN93 Summary

In this BN93 broker review, we tried to get you familiar with this anonymous unregulated broker that is trying to make people believe they are legit. Not only are they an unlicensed firm, but they also falsely claim to be.

Overall, it’s best to just stay away from this fraudulent broker or any other alike. Make sure to always read the reviews before investing.

Lastly, if you have ever fallen victim to this or a similar scam we encourage you to reach out to us as we can help you.

FAQs About BN93 Broker