Boxvalue.biz Review: this is the name of a Nigerian based investment firm. They mention that they trade in Forex and Binary Option markets using the funds of clients. Is it safe to invest funds with BoxValue? Be careful with companies offering profit percentages that seem too good.
The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.
BoxValue mentions that it is located in Nigeria but we find no mention of a regulatory commission overseeing it. Although, Forex trading is becoming quite popular in this region, we are only aware of the (NSE), Nigeria Stock Exchange, as some sort of regulatory commission. BoxValue is not mentioned among the list of dealers registered under the authority.
Since the website is quiet about any type of commission, we tag it as an unregulated broker. It is dangerous to invest funds in firms that are not under proper licensing rules. However, there is mention of 3 top Banks that are regulated in the country. Yet, these banks may not be liable if issues arise over funds.
Advantages of BoxValue
The main advantage that we found on the website are the profits promised to clients. Two types of investment portfolios are opened to clients and one gives 20% profit in 10 days while the other gives 50% in 20 days. We also came across 2% referral bonuses.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
There is also a chance to learn how to trade as the company organizes monthly seminars in different locations of the country.
BoxValue Trading Platform
On the page, it is mentioned that BoxValue is a “private trading platform”. Although, clients are not to trade themselves, it is still important to know which type of trading platform is been used. This is not revealed on the page.
We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments that are mentioned are just “forex and binary”. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
BoxValue Deposit and Withdrawal
To make deposit with the broker, clients have to do this within the 5 week days. The same thing applies for withdrawals as well. The means we find is quite unsatisfactory as it is only possible via bank deposits. Their target market seems to be only citizens of Nigeria. Interested clients are to visit any of the following banks in the country for transactions: UBA, FCMB and Sterling Bank.
This is unusual as we are used to brokers allowing transactions via: Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
A minimum deposit of ₦5,000 is required to invest with this firm. They mention that there are no charges for deposit and withdrawals and the later can be done every 5 days and completed within 48 hours. They also mention that if the company loses a trade, clients would get a refund.
Is BoxValue Licensed?
No. like we have mentioned, it does not mention any regulatory commission under which it operates. We only find an anonymous number that seems to be a registration number but we are not told from which legal entity.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
To know more about this company, dial: +2348039418590, WhatsApp: +2348039418590 or Email: firstname.lastname@example.org
It is our opinion that BoxValue, as an unregulated company trading the Forex market, should not be trusted. What we see it as is a Forex trader using the funds of clients to trade the market. While this may not seem bad, our main issue is that clients’ funds are at risk and they are not told this.
Further, the Forex and Binary market is very unpredictable. The assurance of making up to 50% profit in 20 days for people is false. If you have anything to say about this company, do so in the comment section.
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