BizzTrade (twfazo.com) is a trading platform that offers online contract for difference (CFD) trading services. It officially launched in September 2024. The platform primarily provides investors with CFD trading services for forex, precious metals, commodities, energy, stocks, and indices.
Overview of Platform Services
Trading Accounts
BizzTrade offers four types of trading accounts:
Micro Account
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 1,000
- Leverage: Up to 1:1000
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 1 pip
- Commission: None
- Maximum Order Quantity per Client: 300 positions
- Minimum Trade Size: 0.1 lot (MT5)
- Order Limits per Trading: 100 lots
- Hedging Allowed: Yes
- Swap: Applicable
- Islamic Account: Optional
- Minimum Deposit: 5 USD
Standard Account
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 100,000
- Leverage: Up to 1:1000
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 1 pip
- Commission: None
- Maximum Order Quantity per Client: 300 positions
- Minimum Trade Size: 0.01 lot
- Order Limits per Trading: 50 lots
- Hedging Allowed: Yes
- Swap: Applicable
- Islamic Account: Optional
- Minimum Deposit: 5 USD
BizzTrade Ultra Low Account
- Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract Size: Standard Account 1 lot = 100,000, Micro Account 1 lot = 1,000
- Leverage: Up to 1:1000
- Negative Balance Protection: Provided
- Major Currency Pair Spreads: As low as 0.6 pip
- Commission: None
- Maximum Order Quantity per Client: 300 positions
- Minimum Trade Size: Standard Account 0.01 lot, Micro Account 0.1 lot
- Order Limits per Trading: Standard Account 50 lots, Micro Account 100 lots
- Hedging Allowed: Yes
- Swap: Applicable
- Islamic Account: Optional
- Minimum Deposit: 5 USD
Shares Account
- Base Currency Options: USD
- Contract Size: 1 share
- Leverage: None
- Negative Balance Protection: Provided
- Spread: Based on the base exchange
- Commission: None
- Maximum Order Quantity per Client: 50 positions
- Minimum Trade Size: 1 lot
- Order Limits per Trading: Per share
- Hedging Allowed: Yes
- Swap: Applicable
- Islamic Account: Optional
- Minimum Deposit: 10,000 USD
Deposit and Withdrawal Methods
BizzTrade supports deposits and withdrawals via credit card, e-wallet, and bank wire transfer. There are no fees for transactions made using credit cards and e-wallets, whereas bank wire transfers above 200 USD are also free of charge.
Contact and Social Media
BizzTrade does not have official accounts on mainstream social media platforms like Facebook, Instagram, and Twitter. Users can only contact this broker via email.
Company Background and Regulatory Verification
Company Background
According to public information on twfazo.com, BizzTrade claims to be licensed by several regulatory agencies, including:
The U.S. Financial Crimes Enforcement Network (FinCEN) (MSB ID: 31000257135391);
The U.S. National Futures Association (NFA) (NFA ID: 0559918);
The Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited);
The Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd);
The Belize Financial Services Commission (FSC) (BizzTrade, License Number 000261309);
The Dubai Financial Services Authority (DFSA) (Trading Point MENA Limited).
Regulatory Verification
Upon checking, the U.S. Financial Crimes Enforcement Network (FinCEN) website shows that the company with the MSB number 31000257135391 is Goldmans Global, while the U.S. National Futures Association (NFA) website does not list a registered entity for NFA ID 0559918. Similarly, the Belize Financial Services Commission (FSC) website does not find a company with license number 000261309.
Moreover, the other regulatory information claimed by BizzTrade is actually copied from the well-known broker XM. The brand name used by this broker also appears to be plagiarized from other brokers, misleading investors.
Conclusion
BizzTrade is a broker website launched in September 2024, but all its content is plagiarized from the official website of the well-known broker XM, attempting to deceive and mislead investors.
Risk Warning
Investing in cryptocurrencies carries high risks, especially on platforms that are unregulated and claim to offer extremely high returns. Such websites may lack transparency, cannot effectively safeguard your funds, and risk fraud or running away with your money. Please carefully evaluate a platform's credibility and your risk tolerance to avoid blindly pursuing high returns, resulting in financial loss.
