BIZ was exposed again for refusing investor withdrawal request

With the website closed and customer service unavailable, investors can no longer withdraw their money from BIZ. It' s the second time that we receive such complaint about this brokerInvestors better stay away from it.

WikiFX exposed BIZ two months ago in the report, BIZ delayed in processing withdrawal request arbitrarily. Recently, we received investor' s complaint against BIZ again for they closed website so that investor cannot withdraw money. Meanwhile, the platform customer service didn' t reply to investor' s email anymore. The platform has potential risk of absconding.

Investor reported BIZ to WikiFX

Mr. Liu lodged a real-name complaint by showing his ID card.

Mr. Liu lodged a real-name complaint

Event Recap

According to Mr. Liu' s experience, he opened an account and started to deposit on BIZ in 2017. Unexpectedly, he cannot access BIZ' s website this March, and there still has some money in his account.

So Mr. Liu contacted BIZ customer service but got no reply. In desperation, he turned to WikiFX for help to remind investors to stay away from the platform.

WikiFX' s Investigation

Mr. Liu opened an account and started to deposit on BIZ in 2017.

Email notification of deposit

In March, Mr. Liu found BIZ' s website was no longer accessible.

BIZ' s website was closed

Later, Mr. Liu' s trading account had been cleared out.

Screenshot of Mr. Liu' s account balance

Mr. Liu contacted the platform customer service but received no reply.

Mr.Liu emailed the customer service of BIZ

To date, Mr. Liu still cannot withdraw the money in his account.

Mr. Liu' s account balanceAbout BIZ

Regulatory information of BIZ

Screenshot of BIZ regulatory information from WikiFX App

Further investigation shows that BIZ holds FSPR(New Zealand)' s license for financial service and NFA(US)' s license for generic financial service. Without the authority of Forex brokerage service, BIZ operates in overrun business in China. Moreover, per latest broker' s alert from WikiFX App, both licenses are expired.

MT4/5 verification

Screenshot of MT4/5 verification from WikiFX App

It has been verified that BIZ uses white label software, including two MT5 and two MT4 software, with servers set in HongKong, Japan and Mainland China respectively. Investors should be aware of the risk of white-labeled brokers, as they are usually low in cost.

Network diagram

Screenshot of BIZ' s network diagram from WikiFX App

The diagram shows BIZ is related to 8 white-label brokers, including FTXIL, AMK, CDFX, VEGLFX, deVere, LAMPEFX, RAMFX, BNZ respectively.

FTXILAMKCDFXVEGLFXConclusion

Screenshot of BIZ interface from WikiFX App

As per checking WikiFX App, BIZ has a poor rating of 2.55 and has been listed as illegal broker. This is the second complaint against BIZ we have got from investors since this January.

Now BIZ' s website doesn' t work and customer service is out of contact, indicating that the platform has potential risk of runaway. Investors should stay away from it to avoid further loss recurred.

This is the second time we aim the spotlight on BIZ, who closed website with customer service out of contact, having higher potential risk of escaping. We remind investors to stay away from the suspected brokers and safeguard your rights and interest as early as possible.