About Billionext
Billionext is also called Billionextglobal, it was registered on the British Virgin Island in 2015. On its website, Billionext claimed to operate in up to 19 countries, mostly in the Asia Pacific. And thousands of merchants and partners have chosen them as their platform. However, we find it weird as many details or descriptions on its website are written in Non-English letters. We have to use Translator to translate it into English. Additionally, Billionext is not regulated by any regulatory institution. It is risky to invest in an unlicensed broker since investors may lose control of their money. According to WikiFX, Billionext has been given a very low rating of 1.34/10. WikiFX advises you to avoid this broker as possible as you can.
Ponzi Scheme: “Rob Peter to Pay Paul”
According to WikiFX, Billionext is a Ponzi Scheme. It is not a real investment, it is a financial investment scam where the money gathered from the new investors is paid to the existing investors. The scammers also can pay their new investors with deposits from early investors. Therefore, many investors didn't know the truth at the time, and they felt reassured and decided to invest more. This is pyramid scheme fraud, which is extremely concealment, and deceptive. The scammers make use of the greed of investors to take away their money fraudulently. Many investors will eventually lose money after depositing the money since they can no longer find these fraudsters.
Feedback from Twitter
On Twitter, some traders warned that Billionext is a fraudster. Billionext uses rewards or bait to entice investors to invest more money, when the victims realized the trap, it's too late for them to get their money back.
Exposure on WikiFX
As of May 11, 2022, WikiFX also received complaints related to Billionext. Since this broker is a Ponzi Scheme, the problems that traders met all about the withdrawal refusal. Billionext claimed that if traders want to make a withdrawal, they have to pay an extra fee. And we all know that the fraudsters will never give the money back.
Conclusion
Billionext is a scam that gets involved in a Ponzi Scheme. It is not regulated and WikiFX has put it on the Scam Brokers list. If you don't want to lose everything to the last penny, please avoid this broker as possible as you can. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.
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