Buoytrade has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to True Forex Funds. We’ve received over 5 complaints against Buoytrade.
BuoyTrade portrays itself as a professional trading organization, but beneath its guise is a deceptive operation designed to exploit naive traders. False promises of finance, unequal profit sharing, and misleading trading techniques show their actual nature. BuoyTrade operates without regulation or monitoring, posing a severe danger to investors, who may be unable to recover lost cash. To preserve their financial interests, traders should be cautious and search for credible alternatives.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Buoytrade Regulated? Do They Have a License?
BuoyTrade touts itself as a respected trading organization that focuses on a variety of financial instruments in worldwide markets. However, underlying its appearance is a plan designed to defraud naive traders.
Misleading Funding Scheme
BuoyTrade claims to give funding of up to $1,024,000 to traders who match their conditions. This promise of significant capital is nothing more than a trick to entice unskilled traders. Once hooked, merchants are frequently forced to pay unfair terms and expensive costs.
Unfair Profit Split
While BuoyTrade advertises to offer a lucrative profit split of up to 80%, the reality is far from it. Traders frequently discover that they are left with only a fraction of their revenues after different unannounced deductions and hidden charges have been applied.
Deceptive Practices Revealed
Shady Trading Platform
BuoyTrade’s proprietary platform, which is marketed as advanced and user-friendly, is nothing more than a tool for manipulation. Traders regularly face challenges with execution speeds and availability to market data, which limit their ability to make informed judgments.
Exploitative Mission Statement
BuoyTrade’s declared mission of providing qualified traders with access to substantial money is a ruse. In reality, the firm preys on inexperienced traders, exploiting their desire for financial independence.
Warning Signs
Arbitrary Rules and Restrictions
Traders in BuoyTrade’s program are subject to arbitrary rules and restrictions that limit their autonomy and authority. Deviation from these restrictions frequently results in harsh penalties, including the confiscation of funds.
Doubtful Trading Rules
BuoyTrade’s so-called “Simple Trading Rules” are far from simple. Traders are stuck in a maze of complex laws, making it practically hard to understand the trading landscape.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Buoytrade is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Buoytrade, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Buoytrade
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Buoytrade Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Buoytrade Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Buoytrade tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Buoytrade reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Buoytrade, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Buoytrade enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Buoytrade reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Buoytrade.
You should always look out for consumer complaints. In the case of Buoytrade, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Buoytrade? You can share your complaint in the comment section or submit an anonymous tip.
Is Buoytrade Legit Or Scam?
BuoyTrade positions itself as a savior for prospective traders, providing access to funds and resources. However, underlying its guise is a deceptive system intended to abuse and manipulate naive people. Traders should avoid BuoyTrade and instead search out credible alternatives to protect their savings and financial future.
Buoytrade is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Buoytrade can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Buoytrade?
All the evidence suggests that Buoytrade is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Buoytrade a scam?
Can I withdraw money from Buoytrade?
Where is Buoytrade Located?
How do I get my money back from Buoytrade?
How The Buoytrade Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
