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Bankwiz

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Operating status: SCAM

Website: https://bankwiz.io/; https://bankwiz.org/

Broker violations and abnormal records
  • 2024-02-01 The German BaFin issues a warning against Bankwiz

    On February 2, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the company Bankwiz and the services it is offering, saying the unknown operators of the website offer consumers financial and investment services without the required authorisation. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_12_Bankwiz_en.html

    On February 2, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the company Bankwiz and the services it is offering, saying the unknown operators of the website offer consumers financial and investment services without the required authorisation. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_12_Bankwiz_en.html
  • 2024-02-04 BrokersView has reviewed that Bankwiz is an unregulated broker

    Bankwiz does not disclose information about its operators, a practice that is frequently viewed as a warning sign of potential fraudulent activities. Legitimate entities typically make their accreditations and licenses readily available to promote transparency and adherence to regulations. The absence of such information on Bankwiz's platform could possibly indicate a scam.

    Bankwiz claims to possess 19 years of experience, yet the registration of its domain name, bankwiz.io, dates back only to November 2023. This inconsistency serves as another warning sign.

    What's more, the Federal Financial Supervisory Authority (BaFin) warns consumers about the company Bankwiz and the services it is offering, suspecting the unknown operators of the website offer consumers financial and investment services without the required authorisation.

    In essence, Bankwiz is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    Bankwiz appears to be a scam.

    Bankwiz does not disclose information about its operators, a practice that is frequently viewed as a warning sign of potential fraudulent activities. Legitimate entities typically make their accreditations and licenses readily available to promote transparency and adherence to regulations. The absence of such information on Bankwiz's platform could possibly indicate a scam.Bankwiz claims to possess 19 years of experience, yet the registration of its domain name, bankwiz.io, dates back only to November 2023. This inconsistency serves as another warning sign.What's more, the Federal Financial Supervisory Authority (BaFin) warns consumers about the company Bankwiz and the services it is offering, suspecting the unknown operators of the website offer consumers financial and investment services without the required authorisation.In essence, Bankwiz is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Bankwiz appears to be a scam.

Related Complaints

Q&A

Is Bankwiz been warned?

Ridzuan Malani
Burundi
2024-02-26
ANSWER Yes, Bankwiz has received a warning from the Federal Financial Supervisory Authority (BaFin), the German financial regulator.Bankwiz, a recently established platform, misleadingly professes to have 19 years of industry experience. It further obscures details about its operators, leaving investors uninformed. This lack of transparency is detrimental to clients, as it hinders their ability to protect their interests effectively should any issues arise. Consequently, BaFin has initiated an investigation into Bankwiz and issued a report highlighting its unauthorized financial services and the significant risks involved.Given these circumstances, it's clear that Bankwiz poses a potential risk. Individuals interacting with it may be exposed to fraud and identity theft. Therefore, it's recommended to avoid unlicensed platforms like Bankwiz and opt for fully regulated ones to ensure the safety of your funds.
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1 comments

Ziggy stardust
great review thank you. can you look at Bankwiz.org
2024-02-06
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