Bacxn has been flagged by Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". Operating a digital asset exchange (DAX) without registration This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Bacxn changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Social trading features|Good analytical tools|Regular platform improvements
Cons: Desktop app not available on Linux
My withdrawal request from Bacxn has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Multiple order types|Competitive fees|Easy to use platform|Quick verification
Cons: No fractional shares|Desktop app not available on Linux
Tried to withdraw my funds from Bacxn and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I looked into Bacxn and found they appear in the regulatory warnings database. Securities Commission has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
The mobile app from Bacxn is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Good analytical tools|Quick verification
Cons: No crypto staking|Search feature is basic
After seeing ads for Bacxn online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Securities Commission. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
Bacxn locked my account without warning and demanded documents I had already submitted. since I opened my account last year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Easy withdrawals|Clear documentation|Competitive fees
Cons: Charting tools need more indicators|Limited demo account features
I referred a friend to Bacxn when my bank disappointed me and I searched for alternatives. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Excellent charting|Stable platform|Segregated accounts|Easy withdrawals
Cons: Inactivity fee applies after 12 months|No live chat on mobile