BigBoss Review

Is Big Boss Scam or Legit Broker?

Big Boss has been suspected as a scam broker. Big Boss is an offshore company registered in St. Vincent & the Grenadines. 

• Saint Vincent and the Grenadines (SVG) is a popular offshore jurisdiction for forex brokers due to its low set-up requirements and minimal regulation. However, the lack of regulatory oversight and lax requirements can also lead to potential risks for traders who choose to sign up with brokers registered with the SVG Financial Services Authority.

What is BigBoss?

BigBoss is a trading name used by the Investment 4 Futures Limited company located in St. Vincent and the Grenadines. The company offers CFD and Forex trading on a vast of trading instruments through a range of account types and high leverage levels (Find out brokers with high leverage).

• However, SVG is a known offshore zone, which does not implement strict standards for the financial firms and not overseeing their operation in case of the trustful service. For that reason, there are many companies that enable trading opportunities and actually operate frauds with the purpose to attract clients' funds.

• Even though it may not be the case for every SVG company the unregulated nature puts many questions, why the broker does not want to protect their client. In addition, recently BigBoss was added to the caution list updated by the Italian authority CONSOB while stating that the company operated trading platforms and offered services without appropriate license or authorization.

  “The BigBoss mentioned in this site internet not authorized to provide investment services to the Italian public as these companies are not entered in the register kept by Consob pursuant. Your order to end the violation of Article 18 of the D.Lgs.n. 58/98 implemented through the website consisting in the offer and performance of services and investment activities towards the Italian public.”

  CONSOB, Italy. July 2018

  

Overall Big Boss Markets Ranking

During our research we found issues regarding Big Boss safety and regulations, thus we do not rank positively Big Boss, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Big Boss Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Big Boss Alternative Brokers

Based on our finds and issues with the safety of Big Boss here are much better Alternatives to Big Boss with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• XM – Wide Range of Trading Opportunities
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• FXTM – Good for Beginners

Deposits and Withdrawals

Big Boss does not accept account applications from people younger than 18 and older than 80. The minimum deposit with the broker starts from $1. 

• To withdraw funds, clients will be required to provide all director's identity documents and address proofs before they withdraw funds from their accounts. If there is any mismatch of information between the client's account registration and the submitted identity documents or address proofs, users may not be able to withdraw funds from the trading accounts.

Big Boss Review Conclusion

We recommend avoiding offshore and non-regulated brokers and instead advise traders to sign and invest only with brokers that are regulated by reputable authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as BlackBull Markets, XM, and BDSwiss. 

• Overall ranking and experience for Big Boss is Negative