BNP Group: customer reviews and performance analysis
Despite the information on the official website claiming that the broker BNP Group has been operating as an intermediary on the exchange for 7 years, there are doubts about this company. Representatives claim that thanks to a professional team and the use of modern technologies, even a novice in trading will be able to make a profit. However, after conducting our analysis, we found reviews from real clients that may raise doubts about the reliability of BNP Group.
Company Information
The website bnp-gr.com was recently created, its domain was registered only at the end of last year. This means that the company lacks years of experience and history. It is also worth noting that there is no information about the domain registrant, which may raise doubts about the transparency of the company. A company that hides its data does not inspire trust.
We noticed that there are already reviews about BNP Group on the Internet written before this domain was registered. This may be due to the fact that the intermediary has several domains (bnpltd.net, bnp-ltd.net) created at different times and used interchangeably. Such a practice is often characteristic of scammers whose websites are frequently blocked by Roskomnadzor.
Considering the above, it can be concluded that BNP Group is most likely a fraudulent project created by scammers. We have also found additional evidence to support this fact. For example, information about registration in the Seychelles turned out to be false; an organization with such a name was never registered there.
Legality of BNP Group’s Activities
Since we have established that there is no legal entity named BNP Group, it can be said that this fake broker does not have a license from the regulator. All documents posted on the website have no legal force, meaning the company is not accountable to clients.
The Central Bank of Russia promptly reacts to the emergence of such fraudulent projects and adds them to the blacklist within 1-2 months of discovery. BNP Group was no exception and was added to this list on December 8, 2021.
The bank warns that cooperation with a broker included in this list may only lead to the loss of all invested funds. Fake brokers do not conduct trades on the market but use trading simulators. It is practically impossible for clients to recover their investments as scammers immediately transfer funds to offshore accounts through intermediaries.
Trading Instruments and Account Offers
The company offers various accounts for traders, but it is worth noting that the conditions on these accounts may not be favorable. Account options include:
- “Basic”. Deposit of $250, spread from 2.3 points, and $1 commission.
- “Standard”. Deposit from $1000 allows for up to 30% cashback and no commission.
- “Silver”. Topping up the account with $5000 can get you up to 40% cashback and consultations.
- “Gold”. Minimum deposit of $25,000, cashback, 1.4-point spread, and access to analytics.
- “Premium”. Entry threshold from $50,000 provides access to VIP conditions.
BNP Group promises protection against negative balance and fast order execution, but in practice, this may not be the case.
Company Reviews and Reputation
After analyzing client reviews and the reputation of BNP Group, it becomes clear that there are practically no positive or neutral reviews about this company. Reviews usually contain warnings about the potential risks of dealing with this company.
Fraud Schemes
Scammers operating under the guise of BNP Group employ simple deception schemes to attract trusting and inexperienced traders. They may present the company as a subsidiary of a well-known bank, offering easy earnings and investment security. The goal of the scam is to convince the client to open an account and deposit as much money as possible. Many clients fall victim to scammers, losing their funds with no possibility of recovery.
Conclusion
Based on the analysis conducted, it can be concluded that cooperation with BNP Group may involve high risks. The company has compromised itself and has been blacklisted by the regulator. Client reviews only confirm that BNP Group fails to fulfill its obligations to traders, and the company’s goal is to deceive inexperienced investors.
I had a rather unpleasant experience with BNP Group. Communication with their brokers was consistently poor and they lacked the professionalism I came to expect from a reputable brokerage firm. Despite their supposedly comprehensive market knowledge, their advice led to several misguided investments on my part. The analysis reports they provided were confusing and lacked clarity. It was frustrating trying to understand their long-term strategies due to the vague explanations and information on investments. Moreover, their customer service was below par. Inquiries were rarely answered promptly and information was often relayed inaccurately. Their lack of transparency and poor handling of accounts left me feeling unsatisfied and regretful about choosing to engage with them. I certainly won’t be recommending BNP Group to anyone in need of reliable and professional broker services.