BNI Corp: customer reviews and expert opinion
BNI Corp: customer reviews and expert opinion
Like many other brokers, BNI Corp focuses primarily on inexperienced traders and beginners. Clients are promised help with education, services of a personal analyst, account bonuses, and various additional bonuses. Whether to trust such cooperation or whether it is another scam, we will consider in this review.
Brief history of BNI Corp and key information about the broker
The broker’s website states that the company has been on the market for about 4 years and serves over 30,000 clients. These numbers look impressive, however, we could not find confirmation of this data. We did not find any documents confirming the company’s founding date, as well as reviews from such a large number of clients. Several reviews on the internet were written just a month ago, mostly by Russian-speaking users.
The registration location of BNI Corp is indicated as Cyprus, however, the address mentioned in the website footer turned out to be non-existent. Even Google maps cannot find the broker’s specified office. Additionally, the website does not list any other company branches, meaning that it is not possible to personally visit the office and, for example, sign a contract. The only way to contact representatives is through email.
Against the backdrop of a fake address, we also found a lack of official registration of the broker. There is no information about BNI Corp in the trading registry of Cyprus, therefore, we are facing another fictitious entity.
Regulation of BNI Corp’s activities
On the “Accreditations and Licenses” page, the broker lists all known regulators, mentioning about 10 different organizations. Obtaining such a number of licenses is impossible and unnecessary; it is not a collectible item. In reality, what is important for a broker is the presence of licenses from regulators of the country of registration and the authority of the country where it plans to provide services.
As it turned out, BNI Corp is not registered in Cyprus, and therefore it cannot have a license from CySEC. A check in this regulator’s database confirmed that document number 448/57 simply does not exist. The same applies to other claimed licenses, all of them are fabricated.
However, the main argument against cooperation with the company is its lack of a license from the Central Bank of Russia, as indicated by many users in reviews.
What does BNI Corp offer for traders?
Users are promised various opportunities, but in fact, they are provided with the opportunity to register and access the trading terminal. Depending on the size of the initial deposit, clients can choose one of the following tariffs:
- Novice. Minimum deposit – $150, leverage 1:100, all assets are available except metals and cryptocurrencies;
- Trader. By depositing at least $1000 (with leverage 1:500), clients can access all assets without exception, as well as insure their deposit;
- Investor. Those willing to deposit from $10,000 are offered an expanded set of services, including round-the-clock support, insurance, and deposit protection.
According to reviews, scammers immediately insist on depositing large sums, and deliberately make it difficult for clients with balances in the hundreds of dollars. Therefore, one should not expect equal opportunities for all clients. Additionally, information about commissions and other fees is absent, which undoubtedly exist, and the trader will learn about them during trading. Nothing is mentioned about the size of swaps, however, sources report high figures around 30 points.
What reviews has BNI Corp received?
We did not find a single review from users outside the borders. This suggests that BNI Corp is exclusively focused on traders from post-Soviet countries. At the same time, in Russia, the company has already gained a bad reputation and received numerous reviews from deceived clients. Here are some of them:
How does BNI Corp deceive people?
Scammers operate according to a template: they find a potential investor, lure them with promises, take money, and then suddenly disappear. The main weapons are financial ignorance, trust, and a desire to get rich quickly. As soon as a client starts asking questions, demands documents and guarantees, the scammers lose interest in them.
It is noted in reviews that scammers from BNI Corp use major brands for marketing, place their advertisements on pages of Tinkoff and similar financial institutions. People, without carefully checking the address, click on links, provide their data, which scammers use to contact them.
Entire call centers are engaged in calling such naive people. Posing as experts and financial analysts, fraudsters persuade people to open an account. Subsequently, victims of the scam admit that they acted as if under hypnosis: scammers skillfully use manipulations and psychological pressure. After funds are deposited into the account, clients may be convinced for a long time to pay for insurance or return the imposed bonus. Ultimately, money is debited from the client’s account, and the account is blocked.
Conclusion: BNI Corp – a scam project
We did not find any valid reason to trust BNI Corp. This is a typical new entity created by people hiding their identities. The broker has neither registration nor licenses. Reviews from deceived traders indicate that this is a scam. The Central Bank of Russia has not yet blacklisted BNI Corp, but we believe it is only a matter of time.