Presenting a brand, company or product in the best possible light is the art of marketers, advertising specialists. Today this statement is true and relevant not only for offline, but also for online promotion of goods and services. In fact, a good, effective presentation has nothing to do with the level of the product itself and does not characterize its quality. For example, a beautiful, informative and convenient site - it is an indication of the availability of money from its owners, who were not too lazy to order its development, creation and promotion of professional performers.
So we can say about a certain online financial project BrownFinance. A company with such a name is presenting itself to users as a reliable, experienced and well-known stockbroker. The owners of the project attract traders from different countries to its trading platform, attracting attention with a large image of the lion, the king of beasts, on the main page.
Apparently, in this way, BrownFinance identifies itself with a strong, confident noble predator, which has a lot of advantages in its environment. Moreover, it indirectly suggests that users try on this role, too, if they join the platform. It's a typical manipulation, playing on traders' ambitions, expectations and desires. In fact - it's a deception, creating an illusion that has no clear foundation and no real basis for such feelings.
On every page of its official website, the company claims to serve millions of traders in 50 countries around the world. Calls itself one of the best investment firms on the market, in fact the pioneer of the global financial and technical revolution. Says it's located in the UK and is subject to the requirements of the local regulator.
The company's owners promise that everyone who chooses BrownFinance as their trading partner, is sure to achieve the most ambitious financial plans.
Talking about itself, BrownFinance boasts of world-class support, and all the issues that arise between investors are solved efficiently and quickly.
Verifying this information in person and quickly is problematic, but reviews of their clients assure that such promises are a complete sham. Scammers cheat, embellish, and draw non-existent indicators to attract clients.
As a result, cooperation with the fraudulent company BrownFinance only increases the army of victims of financial fraud. In our review, we rely on facts, observations, and reviews of real clients in order to protect potential traders from the mistakes of cooperation with slick swindlers.
Types of trading accounts offered by BrownFinance
BrownFinance offers five types of trading accounts: Silver, Gold, Platinum, Diamond and VIP.
When compared to the sites of most real brokers, the terms and conditions offered by BrownFinance do not stand up to the competition. The Terms and Conditions section states that the minimum deposit at BrownFinance is $250. However, for a starter account, they require a deposit in other amounts. For example, the minimum deposit for a new Silver account is €10,000. If you want to join other types of accounts - Gold, Platinum, Diamond BrownFinance will set accounts from EUR 20,000, EUR 100,000, EUR 200,000 respectively.
But the highest minimum entry fee for a VIP plan is €0.5 million.
This is several times higher than the industry standard.
The experience of making the reviews of the online brokers allows us to note that such discrepancies are typical for the fraudulent sites.
As for the leverage figures, they are set at 1:20 to 1:400. A high leverage figure is extremely unprofitable and carries serious risks for the trader, especially if the investor has little experience in the industry of online trading.
Moreover, these figures are very strange, because the European financial regulators do not allow the licensed brokers to offer their clients more than 1:50. But the hero of our review BrownFinance assures that it operates in accordance with the norms of the British regulator.
In addition to the inflated rates, all clients who intend to keep the level, are required to refuse to withdraw their funds within 12 weeks.
And withdrawals within the first 90 days of joining will result in cancellation of membership and cancellation of benefits provided, including cashback and even profits.
There are even tables for calculating potential profits.
Traders are offered a choice, focusing on a managed account with potential projected profits ranging from $8,200 over three months to $1,760,000 over two years, depending on the type of account chosen.
At first glance, the offer is attractive, but it does not correspond to reality. The more you get acquainted with BrownFinance, you realize that the company is an active fraudster, because it almost shows clear signs of fraud.
The site says that the platform BrownFinance can work with major credit cards - VISA and MasterCard, but it is a shell, the information for the attractiveness of the conditions on the main page of the official site. In reality, the financial movement swindlers carry out through several dubious third-party payment providers - NeoBanQ and Texcent. It is a typical practice for online brokerage scams.
BrownFinance Trading conditions
As stated on the website, not everyone can become a customer of BrownFinance. More precisely, everyone except traders who are actually located in Cuba, the U.S., North Korea, Sudan and others.
Users are told about the features and benefits that will take them to the next level of profit.
BrownFinance claims that they have a huge range of trading instruments - stocks, commodities, indices, forex and cryptocurrencies. The broker tries to attract attention with low commissions, spreads and other metrics or options.
When talking about their web platform, BrownFinance presents it as the most user-friendly, intuitive, fast and powerful, which can not only be downloaded, but can be freely used at any time.
In reality, however, users are faced with a cheap semblance of a high-quality, high-tech platform.
The lack of commissions seems to compensate for the spreads: the figures presented by the company are unprofitable - 11.6 points will require customers to pay more.
It is known that the firm may ask for hidden fees, which they do not disclose.
It should not be forgotten that high leverage CFD trading, what BrownFinance offers, is a risk. In practice, a broker who offers profits for joining his trading platform is going to cheat. If you allow BrownFinance to manage your personal trading account, such a dubious broker intends to mismanage it to lose his clients' money for his own gain.
BrownFinance insistently offers to download Team Viewer or AnyDesk - remote desktop applications, which are designed to access a personal computer via the Internet from any location on the world map. You should not do this, because the scammers who are behind the management of the brokerage site will instantly have access to all of your files, including all banking information stored there, and will easily withdraw money from any of your bank accounts.
The company lists its location within London.
This means that BrownFinance must be licensed by the British regulator.
As we can see, BrownFinance does not have a license.
Studying the information on the official website b-finances.com, we see that BrownFinance is not a company at all, but a dubious project, which belongs to Old Mutual funds - a large investment company.
When we checked on the site of the British regulator it turned out that this company was not even issued a license.
Going deeper into the sections of the official site, it was possible to find out that the project is subject to the legislative norms of the offshore zone.
The BrownFinance site states that the project was organized in 2010. It turns out that all this time, they take large sums from their customers completely illegally.
A check on the site WhoIs shows that the site was registered in May 2021, and not 11 years earlier, as BrownFinance is trying to convince its users.
As we can see, much of the information on the official BrownFinance website is false. The company deceives its users and uses fraudulent schemes for personal gain.
BrownFinance Reviews online
The same picture is with the customer reviews. If you believe the official site of BrownFinance, they have a crowd of satisfied and grateful customers.
The information from the official site is very different from what I was able to find on the web.
Investors are massively accusing BrownFinance of fraud.
They talk about refusal to withdraw money and theft.
Traders are trying to warn their colleagues against cooperating with this project. Former clients of BrownFinance talk in detail about the reasons for the negativity they address to the mentioned fake broker.
By the way, all the reviews are dated 2021. From 2010 to 2020, there is no mention of this project. This once again confirms the deception of BrownFinance on the website about the start date.
Safety and security of funds with BrownFinance
A broker without a license will not have the security of funds for clients.
Moreover, all the conditions and requirements may be changed at any time. And, BrownFinance is not going to inform each client personally about it.
BrownFinance is not worth the attention of traders who are worried about their capital.
BrownFinance is not a regulated broker. The company has no rights to offer trading. It will be almost impossible for traders who decide to invest in their trading platform to get their money back. You should not trust your money to a BrownFinance broker. This is an outright fraud, not a reliable broker.