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BANEX CAPITAL LTD

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Operating status: SCAM

Website: https://banexcapital.com/

Broker violations and abnormal records
  • 2023-05-05 BrokersView has Reviewed that BANEX CAPITAL LTD is an Unregulated Broker

    There is no any regulatory information on its website. The truth is that BANEX CAPITAL LTD is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    There is no any regulatory information on its website. The truth is that BANEX CAPITAL LTD is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

How long does it take for my deposit?

Abdul Samad
Indonesia
2023-06-27
ANSWER BANEX CAPITAL LTD is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.In an attempt to appear real, BANEX CAPITAL LTD provides two addresses on its website: one is the registered address in the UK, and the other is the physical address in the U.A.E.. According to these two countries' law, brokers are required to obtain authorization from the Financial Conduct Authority (FCA) and the Central Bank of the United Arab Emirates (CBUAE). However, our search for BANEX CAPITAL LTD in the registers of the aforementioned regulators didn't yield any matching records. This means BANEX CAPITAL LTD is operating outside the regulatory framework.On top of the addresses, BANEX CAPITAL LTD fails to provide any information concerning its regulatory status, which is a negative sign for a broker. Legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency, whereas the lack of information thereof may suggest the status as an unlicensed broker.Regarding your question, we strongly suggest you exercise extreme caution and avoid BANEX CAPITAL LTD, which is an unregulated broker. It is a trading platform carrying significant risks such as financial losses and identity theft, as there are no rules in place to safeguard investors' interests. Therefore, investors are encouraged to stay away from unregulated brokers like BANEX CAPITAL LTD and instead choose a fully regulated one to mitigate the risks.
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1 comments

Kanza
I am filing a legal case against Banex Capital in Dubai after a fraudulent experience. I invested 20,000 USDT across four accounts (5,000 USDT each) under their bonus offer. We had a rough draft of terms and conditions on WhatsApp, which clearly stated that the deposited amount would be withdrawable.Banex Capital offered a bonus credit hedging deal but altered the terms midway, claiming that I was profiting too much. They imposed withdrawal limits: 2 per account for two accounts, and 1 per account for the remaining two. They stated that if I couldn’t hedge and transfer my deposit to another broker within these limits, they would retain my deposit and profits. Despite these constraints, I managed to hedge my deposits on three accounts. On the fourth account, with a deposit of 5,000 USDT, I faced a similar situation. Banex Capital only allowed one withdrawal on this trading account, which I used, and they seized the deposit, claiming I had exceeded the limit. Although I requested another opportunity to hedge and transfer the remaining funds, they refused. Due to their unlicensed status and deceptive practices in Dubai, I am filing a criminal case demanding the return of my 5,000 USDT deposit. I had 4 accounts of 5,000 USDT each, with a total of 6 withdrawal attempts allowed—2 attempts on 2 accounts and 1 attempt each on the other 2 accounts. I utilized only 1 withdrawal attempt on one account and requested an additional withdrawal for the account where my funds were stuck, but Banex Capital refused. Given the lack of support and trust issues, I no longer wish to proceed with further withdrawals. I demand the return of my deposited amount.It's important to note that initially, there was no limit on withdrawals. They only introduced this restriction after they had my deposits, changing the deal and limiting the number of withdrawals of hedged profits I could take.
2024-08-23
2
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