Baixiang Limited Review – Why Shouldn’t you Consider it?

Baixiang Limited Review

Everyone talks about how simple and convenient online trading is, but no one mentions that finding a brokerage to get started is a major challenge that you have to deal with first. Similar to the traditional trading process, brokers play a key role in online trading as well and you have to find one that fits your needs in the best possible way. This is a big hurdle because there are thousands of companies that promise you their services, but their level of quality can vary drastically. Some are indeed professional, while others may be mediocre, but there are also those that are shady and fraudulent, as this Baixiang Limited review highlights.

What is the problem here? The primary hurdle here is being able to sort through the options to figure out which category a particular broker belongs to. If you were to just accept the claims every company makes, then they are all the best and there is no scam or low quality service at all. Of course, this could only happen in a perfect world, which does not exist. The burden of doing the sorting falls on your shoulders because you are the one who needs a good and dependable brokerage to make the most of the opportunities in the financial markets.

This is not an impossible task, even though it may seem that way. What you need to do is to ensure that all the claims that a broker is making to draw you in are actually true. This can help you identify the category they belong to, as in the case of Baixiang Limited. This one is advertised as a global financial group offering top-notch forex and CFD trading services from Hong Kong and in the Asian market. It also claims to have a multi-regional financial license and this is all good news. A look at their website shows a comprehensive package, but you have to look underneath to know the truth.

This is when you discover why you shouldn’t choose Baixiang Limited as your brokerage. Want to know more? Take a look below:

No legitimate license

The first thing you need to know about any online brokerage is whether they have a license or not. Does it make a difference? Indeed, it does because a licensed and regulated company can offer you peace of mind that you cannot get with an unregulated one. Moreover, you will notice that most scams platforms do not have a license and the reasons are quite obvious. They do not bother doing so because their goal is to defraud people and not be held accountable. The fact that Baixiang Limited claims to be a licensed broker and that too in multiple regions is quite impressive.

When you check the Baixiang Limited website, you will find that the brokerage claims to have its headquarters located in Hong Kong. In order to operate from there, it needs a license from the Securities and Futures Commission (SFC), which is the regulatory authority. However, when you check their online register, you will not find the brokerage mentioned. This means that it is making false claims about being licensed and regulated. It automatically implies that such a broker is not worth trusting because they are not being honest about their status.

Virtually anonymous website

The fact that Baixiang Limited is not licensed, despite its claim, is already a major flaw and enough for you to not consider the brokerage at all. This is because nothing you come across on their website can be considered credible, as there is no regulatory authority to verify it. Essentially, their website is virtually anonymous and does not offer any such details.

As a matter of fact, they seem to be unsure of what company owns and operates Baixiang Limited because in one place, they have mentioned the name of BAIXIANG LIMITED and in another, they have mentioned ATG World Trading Ltd. The first company is presumably located in Hong Kong, while the latter provides the broker’s trading platform.

Apart from that, even though Baixiang Limited has given a Hong Kong address on their website, there is no way for you to verify it. Since it is not regulated by the SFC, there is a good chance it is lying about the address, or is operating illegally. Both of these scenarios make it a broker that should be avoided instead of considered as a potential partner.

Lack of proper trading platform

One of the key features of an online brokerage is the trading platform they offer because this software has to be used for trade execution. It also provides the technology and tools that can ensure a smooth trading experience. The fact that Baixiang Limited is promising the MetaTrader5 (MT5) trading platform undoubtedly impresses people because it is recognized as the top trading solution in the market.

It is a preferred platform of most professional traders and is known for its cutting-edge technology and superb trading tools. Therefore, its availability at Baixiang Limited will definitely impress people, but when you download the MT5, you will discover that it is unbranded. In fact, it is being provided by a third party company called ATG World Trading Ltd. and there is nothing mentioned about it. This is extremely shady because a legitimate brokerage would offer the platform branded with their name.

No details about payment methods

The payment methods of a brokerage are also relevant, not just because you want to make payments conveniently, but also because you want to ensure safety. Payment options like debit and credit card, such as VISA and MasterCard come with the option of filing for a chargeback. This means that you can get a refund in case there is a problem of any kind. The issue with Baixiang Limited is that it does not provide any information about the payment methods it offers, which means you don’t know if a refund is possible or not.

Wrapping Up

These issues make it evident why you should not consider Baixiang Limited as your brokerage and should look for a different platform.