BizzTrade (twbizz.com) officially launched in September 2024 as a financial platform specializing in online CFD trading, offering investors trading services across various markets such as forex, precious metals, commodities, energy, stocks, and indices. The platform does not provide services to regions where doing so would violate local laws and regulations.
Platform Services
Types of Trading Accounts
To meet the needs of various investors, BizzTrade offers four types of trading accounts:
Micro Account
The Micro Account supports multiple base currencies including USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, and ZAR. Each contract size is 1,000 units with a leverage up to 1:1000, and it offers negative balance protection. Spreads on major currency pairs are as low as 1 pip with no commission fees.
Each customer can hold up to 300 positions, with a maximum order size of 100 lots per trade, and a minimum trade volume of 0.1 lots (for MT5). Hedging is allowed, overnight interest is applicable, and an Islamic account option is available. The minimum deposit requirement is $5.
Standard Account
The base currencies for the Standard Account are the same as those of the Micro Account, with each contract size at 100,000 units. The leverage is similarly up to 1:1000, with negative balance protection. Spreads on major currency pairs are as low as 1 pip with no commissions.
Customers can hold up to 300 positions, with a maximum order size of 50 lots per trade and a minimum trade volume of 0.01 lots. Hedging is allowed, overnight interest applies, and an Islamic account option is available. The minimum deposit is $5.
BizzTrade Ultra Low Account
Supported base currencies include EUR, USD, GBP, AUD, ZAR, and SGD. The contract size for the Standard Account is 100,000 units and 1,000 units for the Micro Account. Leverage is up to 1:1000, with negative balance protection. Spreads on major currency pairs start as low as 0.6 pips, with no commission fees.
Customers can hold up to 300 positions. The minimum trade volume is 0.01 lots for the Standard Account and 0.1 lots for the Micro Account. Maximum order sizes are 50 lots for the Standard Account and 100 lots for the Micro Account. Hedging is allowed, overnight interest is applicable, and there is an option for an Islamic Account. The minimum deposit requirement is $5.
Shares Account
The base currency for this account is solely USD, with each contract size being 1 share and no leverage. Negative balance protection is provided. Spreads depend on the underlying exchange, with no commissions.
Customers may hold up to 50 positions, with a minimum trade volume of 1 lot, calculated per share. Hedging is permitted, overnight interest applies, and an Islamic account option is available. The minimum deposit requirement is $10,000.
Trading Platform
BizzTrade offers users the MT5 trading platform, a multi-asset tool supporting forex, stocks, and futures trading. It features extensive technical analysis tools, automated trading, and market depth (DOM), aiding traders in effectively analyzing markets and executing trades.
Note that when searching for BizzTrade on the MT5 platform, the link redirects to bizztradecfd.com instead of twbizz.com.
Deposit and Withdrawal Methods
Investors can fund their accounts and withdraw using credit cards, e-wallets, and bank transfers. There are no fees for transactions made via credit card or e-wallet; likewise, bank transfers over $200 are also fee-free.
Contact and Social Media
Currently, BizzTrade 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
According to its official website, fx-bizz.com, BizzTrade claims to be licensed by multiple regulatory bodies, including:
- US 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, License No. 000261309)
- Dubai Financial Services Authority (DFSA) (Trading Point MENA Limited)
Regulatory Verification
Upon verification, the following issues were discovered:
- US FinCEN: MSB ID 31000257135391 actually corresponds to Goldmans Global, not BizzTrade.
- US NFA: No registered entity can be found with NFA ID 0559918 on the NFA website.
- Belize FSC: The official website does not show a company with License No. 000261309.
Additionally, the other regulatory information claimed by BizzTrade closely resembles that of the well-known broker XM, indicating a potential plagiarism issue. The use of brand naming also seems intended to mimic other brokers, potentially misleading investors.
Conclusion
In conclusion, BizzTrade (twbizz.com) launched in September 2024, but much of its website content directly quotes XM, a well-known broker, which could be intended to confuse and mislead investors.
Risk Warning
Investing in cryptocurrencies or other financial products on unregulated platforms carries extremely high risks. Such websites promising high returns might lack the necessary transparency, cannot guarantee the safety of your funds, and may pose a risk of misappropriation or fraud. Investors should carefully assess the platform's credibility and their own risk tolerance to avoid financial losses due to a blind pursuit of high returns.
