BizzTrade LTD (fx-bizz.com) is an online CFD trading platform launched in September 2024, primarily offering investors various market trading services in CFDs including forex, precious metals, commodities, energy, stocks, and indices. The platform does not provide services in jurisdictions where it might violate local laws or regulations.
Overview of Platform Services
Types of Trading Accounts
BizzTrade LTD offers users four different trading accounts to meet various investor needs:
Micro Account
- Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract size: 1 lot = 1,000 units
- Leverage: Up to 1:1000
- Negative balance protection: Provided
- Major currency pair spreads: As low as 1 pip
- Commission: None
- Maximum number of positions: Up to 300 positions per client
- Minimum trade size: 0.1 lot (MT5)
- Maximum number of lots per order: Up to 100 lots
- Hedging allowed: Yes
- Overnight interest: Applicable
- Islamic account: Optional
- Minimum deposit: $5
Standard Account
- Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract size: 1 lot = 100,000 units
- Leverage: Up to 1:1000
- Negative balance protection: Provided
- Major currency pair spreads: As low as 1 pip
- Commission: None
- Maximum number of positions: Up to 300 positions per client
- Minimum trade size: 0.01 lot
- Maximum number of lots per order: Up to 50 lots
- Hedging allowed: Yes
- Overnight interest: Applicable
- Islamic account: Optional
- Minimum deposit: $5
BizzTrade Ultra Low Account
- Base currency options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract size:
- Standard account: 1 lot = 100,000 units
- Micro account: 1 lot = 1,000 units
- Leverage: Up to 1:1000
- Negative balance protection: Provided
- Major currency pair spreads: As low as 0.6 pips
- Commission: None
- Maximum number of positions: Up to 300 positions per client
- Minimum trade size:
- Standard account: 0.01 lot
- Micro account: 0.1 lot
- Maximum number of lots per order:
- Standard account: Up to 50 lots
- Micro account: Up to 100 lots
- Hedging allowed: Yes
- Overnight interest: Applicable
- Islamic account: Optional
- Minimum deposit: $5
Shares Account
- Base currency options: USD
- Contract size: 1 share
- Leverage: None
- Negative balance protection: Provided
- Spread: According to the underlying trading exchange
- Commission: None
- Maximum number of positions: Up to 50 positions per client
- Minimum trade size: 1 lot
- Maximum number of lots per order: Calculated per share
- Hedging allowed: Yes
- Overnight interest: Applicable
- Islamic account: Optional
- Minimum deposit: $10,000
Trading Platform
The broker provides users with the MT5 trading platform, a multi-asset platform that supports forex, stock, and futures trading. It offers a wealth of technical analysis tools, automated trading capabilities, and depth of market (DOM) features to help traders efficiently analyze and execute trades.
However, the website for BizzTrade LTD found on the MT5 platform redirects to bizztradecfd.com.
Deposit and Withdrawal Methods
Users can deposit and withdraw funds via credit cards, e-wallets, and bank wire transfers. Transactions through credit cards and e-wallets incur no transaction fees, and for bank wire transfers, amounts over $200 are fee-free as well.
Contact and Social Media
Currently, BizzTrade LTD does not have official accounts on major social media platforms like Facebook, Instagram, or Twitter. Users can only contact the platform via email.
Company Background and Regulation
Company Background
According to publicly available information on the official website fx-bizz.com, BizzTrade LTD claims to be licensed by several regulatory bodies, including:
- The Financial Crimes Enforcement Network (FinCEN) (MSB ID: 31000257135391)
- National Futures Association (NFA) (NFA ID: 0559918)
- Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited)
- Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd)
- Belize International Financial Services Commission (FSC) (BizzTrade LTD, License No: 000261309)
- Dubai Financial Services Authority (DFSA) (Trading Point MENA Limited)
Regulatory Verifications
Upon verification, the following issues were found:
- The Financial Crimes Enforcement Network (FinCEN): MSB number 31000257135391 corresponds to Goldmans Global, not BizzTrade LTD.
- National Futures Association (NFA): Could not verify a registered company with NFA ID 0559918 on the NFA website.
- Belize International Financial Services Commission (FSC): No company information found for license number 000261309 on the official website.
Moreover, the other regulatory information claimed by BizzTrade LTD closely resembles that of the well-known broker XM, raising suspicions of plagiarism. Its brand naming also seems to imitate other brokers, potentially misleading investors.
Conclusion
BizzTrade LTD (fx-bizz.com) is a broker website launched in September 2024, but most of its site content is directly taken from known broker XM, potentially attempting to create confusion and mislead investors.
Risk Warning
Investing in cryptocurrencies or other financial products on unregulated platforms carries significant risks. Such sites claiming to offer high returns may lack necessary transparency, cannot guarantee the security of your funds, and may involve fund misappropriation or fraud. Investors should carefully evaluate the credibility of the platform and their risk tolerance to avoid financial loss due to blindly pursuing high yields.
