BenefitMarkets: reviews about the European broker and verification of basic data

Trading has become so popular, and brokerage services advertising so aggressive, that almost everyone has heard at least once about trading on the currency or stock market. Brokers attract clients in every possible way, promising “golden mountains” even to beginners. Using the example of the intermediary BenefitMarkets, we will tell you what to pay attention to and how not to fall into the trap of scammers.

Review of information from the BenefitMarkets website

The broker’s platform immediately reveals itself as an ordinary project, into which they invested conditional two rubles. The site was put together in a constructor from free templates, filled with stock photos and primitive text, and they are trying to pass it off as a resource of a reputable company.

Moreover, the website design painfully resembles other scam projects: e-LiquidCentral (eliquidcentral.com), Top-Account (top-account.com). Yes, they changed the color scheme, slightly modified the text, but overall, these are identical resources.

The “About the Company” section is a pitiful attempt to sell users a legend about a supposedly cool international broker. It does not withstand any criticism, for example, the statement about a AAA reliability rating. Without specifying the rating agency that assigned it, this is empty talk.

Since 2018, traders from Asia, Europe, and CIS countries allegedly use BenefitMarkets’ services. However, there are no reviews about this intermediary on English-language websites.

Verification of BenefitMarkets licenses

We checked the claim of having licenses from the regulators of Cyprus, Belize, and Mauritius. BenefitMarkets was not found in any registry. Here are screenshots of the search results.

What does the lack of regulation mean for a trader? That the company violates the law, cannot be authorized on the international exchange, and does not insure clients’ money.

Trading conditions at BenefitMarkets

So, it can be learned that there are three types of accounts and the minimum deposit is $5000. Trading instruments are also listed: metals, stocks, currencies, indices, commodities, and cryptocurrency.

The homepage proudly states that there are no commissions for order placement.

Traders about BenefitMarkets: real reviews

Despite their boasting, the company does not attract clients, which is not surprising. Accordingly, there are very few reviews about working with the intermediary.

How money is lured in BenefitMarkets?

The fraudsters’ scam scheme is simple. As written in reviews, first, the “decoy duck” contacts the potential client. Most often, this is a beautiful girl who writes to the potential client on Instagram, Facebook, Telegram.

After the unlucky trader loses everything, they kindly come forward and suggest how to get everything back with a guarantee.

Experts’ conclusions and assessment of BenefitMarkets reliability

We do not recommend opening an account on the BenefitMarkets platform. The broker does not have official registration and licenses, the site is filled with false information, and reviews prove that traders are simply being scammed out of their money.