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The WikiFX Score of this broker is reduced because of too many complaints!

Bohua technology

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

http://www.bohua.cc/

Website

Rating Index

Contact

service@sunrayforex.com
http://www.bohua.cc/
Unit 12, Ravenswood Industrial Estate, Shernhall St, London E17 9HQ
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Bohua technology

Company Abbreviation

Bohua technology

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-04-16
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Unable to Withdraw

Can’t withdraw, fake trading and profit

They promoted to help you to double your money within one month, the Asian lady pretend to be nice and kept asking me to deposit more funds and refer more investors for commission sharing. When I wanted to make the withdrawal, the customer kept delaying the process and ended up making the fake transaction record to show me the funds has withdrawn from my account y successfully. Never trust and deposit to this Bohua, they are same team from Kraemfx Trading Co and Big uncle and many more FX broker

2022-06-20 02:35
Unable to Withdraw

Find various reasons to deny withdrawal

Participated in the platform's opening activity in early April. The customer service informed that there would be 1% interest on the principal every day during the opening activity, but did not clearly inform the completion time of the opening. After 1 month, 2% of the principal will be deducted every day. The answer is that 2% of the principal will be deducted as liquidated damages after the completion of the opening of the position, and the funds will be withdrawn until the opening of the position is completed. At the same time, I also asked the customer service if there will be any follow-up liquidated damages or withholding of other taxes after the completion of the opening of the position? The customer service replied that you can withdraw money immediately after completing the position opening without incurring any costs, so I accept the reason for deducting the liquidated damages. After all, I did not complete it in time, but when I want to complete the position opening later, the platform will deposit my money (200000TWD) I directly deducted the liquidated damages that I had to pay. In order to quickly release the deposit, I completed the deposit of the last 30,000 TWD. At this time, I asked the customer service for the deposit, but the customer service replied that I had breached the contract and completed the opening, so the company had to review it. It took 1 week for me to withdraw the money, and I waited for 1 week. I asked the customer service again to inform the withdrawal, but the customer service said that I had a fund that was suspected of money laundering, and I had to pay a deposit of 50% of the principal before I could withdraw. A sum of money is all deposited by me, and I can only go in but not out, and there is no transaction. How do I launder money? The platform tries its best to use the event to induce investors to deposit funds. After the event is completed, it refuses to handle the withdrawal business for various reasons. Please don't be fooled again. Attach the dialogue record with the customer service.

2022-07-19 00:43
Unable to Withdraw

Find excuses to deny withdrawal

The customer service staff recommends a position opening activity. During the activity, there will be 1% interest on the principal every day, but the deadline for completing the activity is not informed. After inquiring, we know that the activity will be completed within 1 month. 2% is used as a punishment. After completing the activity, the withdrawal business can be processed. I also asked if there are other taxes, liquidated damages, etc. in addition to the deduction of 2% of the principal. The customer service also answered no, but before the completion of the opening Without notification, the deposit of 6699usdt was directly deducted and said to be the liquidated damages. When the deposit was completed and the withdrawal business was completed, the customer service informed that it would require a 7-day review period because the warehouse was not completed within the time limit. Wait a minute, when I processed the gold withdrawal business again, the customer service informed the remittance record that there was a sum of money involved in money laundering, and I had to pay 50% of the principal as a security deposit to handle the gold withdrawal business. Jin, where is the suspicion of money laundering? This reason is a bit outrageous. I believe that there will be other reasons to block the withdrawal business after paying the deposit. I hope everyone will not be deceived again. The content of the dialogue with the customer service is attached with the article.

2022-07-28 01:52

    Bohua technology · Company Summary

    Registered Country United Kingdom
    Regulation Unregulated
    Incorporated Years 1-2 Years
    Company Name Bohua Technology
    Minimum Deposit N/A
    Minimum Spreads From 0.0 pips on major pairs
    Trading assets Currency Pairs, Precious Metals
    Trading Platform MT5 Trading platform
    Payment Methods N/A
    Customer support Email: service@sunrayforex.com

    General Information

    Registered in the United Kingdom, Bohua Technology is brokerage firm, offering an array of trading options in the global markets, including currency pairs, precious metals and more through the advanced MT5 trading platform. To give its clients a better trading experience, Bohua Technology offers 5x 24 full time customer support, up to 1:100 leverage as well as high credit bonus.

    General

    Market Instruments

    Traders who invest with this broker will have access to the five major trading markets regardless of where they are. A bull of trading assets includes currency pairs, precious metals, indices, crude oils, crypto currencies and more. You can choose among these popular options based on your trading preference.

    Leverage

    The maximum trading leverage offered by Bohua Technology is up to 1:100. Some people may hold that this level is conservative, however, leverage can magnify gains as well as losses. It is essential that forex traders select the level of leverage that they feel most at ease with. Professional traders and scalpers prefer to use high leverage to increase their chance of profitability.

    Spreads & Commissions

    Bohua Technology says that it offers a low spread trading environment, with spread on major pairs as low as 0.0 pips. Spreads are used to compute all trading costs by traders now, so brokerages who offer competitive spreads are in significant client demands. No commission details are mentioned on this brokerage website.

    Spreads

    Overnight Interest

    Traders should consider overnight interest as an additional cost if you plan to hold your position overnight. With Bohua Technology, if you hold an EUR/USD position of one standard lot, your trading account will calculate the amount of overnight interest earned (or paid) per the overnight interest quotation of the day. For instance, the quotation of overnight interest for the buy and sell for the EUR/USD pair on the same day is -2.1/-3 which means: Buy 2.1 overnight interest on USD, Sell 3 overnight interest on USD.

    Trading Platforms Available

    Bohua Technology offers its clients to trade on the leading MT5 trading platform that can be accessed on any device. In addition to providing access to currency and stock market trading, MT5 also allows users to perform technical and fundamental analysis, and it is a fantastic choice for experienced traders thanks to its extensive set of indicators, several charting options, and numerous order types.

    Deposit & withdrawal

    Concerning deposit and withdrawal, Bohua Technology is vague on this part. Popular payment options supported by most brokerage firm include Wire Transfer, Credit/Debit Cards, as well as a series of e-wallet processors including Skrill, Neteller, PayPal and more.

    Customer Support

    Bohua Technology seems to offer dedicated and multilingual customer support, as traders who have any trading related issues can have quick access to their online chat service. And they can also be contacted through email: service@sunrayforex.com. Besides, Line is available for any problems.

    Company Address: Unit 12, Ravenswood Industrial Estate, Shernhall St, London E17 9HQ.

    Pros & Cons

    Pros Cons
    Generous leverage up to 1:100 No Regulation
    Allegedly competitive spreads Inaccessible official website
    MT5 trading platform supported Poor customer support
    No 24/7 customer service
    Fees not transparent

    Is Bohua technology regulated?

    No, Bohua technology is not regulated.

    What products does Bohua technology offer?

    Bohua technology boasts that it provides a series of trading instruments include currency pairs, precious metals, crude oils, cryptocurrencies and more.

    What is the maximum trading leverage offered by Bohua Technology?

    The maximum trading leverage is up to 1:100.

    News

    WikiFX Review: Bohua technology—Why do many investors feel irritated by this broker.

    ExposureWikiFX Review: Bohua technology—Why do many investors feel irritated by this broker.

    2022-09-26 17:30

    Registered in the UK, Bohua technology is brokerage firm offering a series of trading options in the global markets, including currency pairs, precious metals and more. WikiFX recently received a couple of complaints related to this broker. In order to help traders better understand this broker, we made a comprehensive review of this broker.

    WikiFX
    2022-09-26 17:30
    Exposure
    WikiFX Review: Bohua technology—Why do many investors feel irritated by this broker.

    User Reviews

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    Helen6732
    6-12months
    This company is a big scam. My friend is just be cheated. At the moment, they use this website under name of Global Market Index LTD (GMI). https://global-market.biz/en/index1.htmlt That is fake. GMI do not have any subsidiary like this. In the part of awards, they use rewards of AXION TRADE. After cheated my friend to register account, they allowed to withdraw the first 2 times, one time with more than 100 usd, 1 time with more than 3000usd. After that, when the fund is bigger, they do not agree to withdraw anymore. They said it need to pay personal income tax under UK law because their company is incorporated in UK under name of BOHUA TECHNOLOGY LTD, Company number 13957866. After my friend paid tax, they said it need to deposit 30% of fund for verifying real name. All reasons let you unable to withdraw only. Please put this company in black list. BIG SCAMMER.
    2023-07-24 15:31
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    李小乐Nicklaus
    more than one year
    Do not use credit or debit cards to send money to this broker. They are thieves. They take your card information and use it to buy other things. I found this more than once.
    2022-12-20 10:38
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