Read our Belleofx review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a belleofx.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Belleofx is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Belleofx in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Belleofx Review Conclusions
Making the Belleofx review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Belleofx review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Please be advised that this broker is a scam and stole 5500 USD from my account. They produced many trades in my account with large lot volumes and called margin my account in few seconds. No reply to my messages then. Don’t work with such a scam broker in any circumstances. Please consider this hint seriously.
They did exact same thing to me… it really is a scam
BelleoFX is a HUGE scam – they will steal your money and you will never see a cent back.
They use a scam with a fake website and will ask you to pay using crypto. Once they receive your money, it will never come back to you.
They have a fake website called http://www.belleofx.com – it has real looking trading options and looks very professional – dont fall for it!
They use fake Whatsapp business account to give the impression of legitimacy.
The main thief is a person called Jay on +44 7723 702878
The con man representing BelleoFX is called Eric and on +44 7426 074110
I would like to know how they managed to get a Meta Trader 5 Server registered and how this scam can be reported to Meta Trader’s parent company
Belleofx is a scam. Don’t go into it!
I am committed to the truth.
Please do not trust this broker or its managers.
What encourages me to write this is to prevent more people from suffering loss. For many, achieving is difficult; and it’s sad to see him going down the drain.
An account manager named davee_wilson on instagram came to me providing his forex account management services. For this he gave me a read password for an account with 270k. Nice track record, 2% downgrade and over 1000% profit.
I followed this account carefully. I saw orders coming in and winning. This prompted me to deposit money at belleofx. (beginning of the coup)
Gradually I discovered some errors. 1 – I tried to use a copy tool and in the terminal false orders appeared. It may be copy protection system. OK.
2 – On a Thursday 06/29/2022, he started to buy gold while this asset decided to melt, dropping many points below! He made new entries by buying and the drawdown increased.
On Monday those orders disappeared! Without explanation!
I was desperate with the manipulation and because I had already placed four accounts there. I decided to do more research and saw many comments from people complaining that they lost money.
It was a lot of struggle and conversation to withdraw balance from one of the accounts. I placed the order and made the withdrawal.
I decided to do the same with another account, 515usd. I had a high DD and when the manager managed to place some winning orders, I calculated that if I closed the losing ones I would recover my net capital with a little profit.
I had 179 losing only. I closed it and got 564. From the initial 515 it was 564.
I closed the orders and minutes later all my accounts were broken!
davee_wilson said this happened because they were in a PAMM account and it was using too much balance. Lie! There were few hedge orders on the account.
And there’s more! In the past I interfered with some orders placing SL and it didn’t break anything.
Another lie!
I never gave consent to join a PAMM account.
I talked to Eric, who calls himself an advisor at Belleofx and he just replied that he doesn’t order for his clients and provides PAMM service to any analyst. And that I should speak to the account manager. And stopped responding.
In particular, this is not a PAMM account. It’s an excuse to hit people.
Please don’t fall for this.
I have everything documented!
Save your money. Dealing with the market is hard enough. Now dealing with scammers is impossible.