bisazzamarket.com (HKbisazzaInvestment-Live; OTSOInvestment-Live) - Big scam

Hugh Tan

Recruit
Messages
3
I was ripped off $16,800 USD by this forex broker on 2020/11/25. They did it in a fraudulent and shameless way: They changed the original price of my positions after I placed an order in their trading platform (MT4) and then closed my positions to create a ‘loss’ to my account.

Details as follows --

I was introduced to this broker’s website by a “friend” that I met on the internet in August 2020. I checked the broker’s website and read that they were registered with the US MSB (Money Services Businesses) and would follow regulations of the MSB. I checked the MSB membership website and indeed they were registered as HONG KONG BISAZZA INVESTMENT MANAGEMENT LIMITED with a Reg.# 31000173272472. They were allowed to do foreign exchange and Money transmitter over all US states. I therefore thought they were a legitimate forex broker and created a live account with them and invested a total of 9,200 USD into my account in October. This broker utilized MT4 as their trading platform and I was able to download the platform onto my cellphone to do trading. I made some profits in trading and my account balance was $16,905.40 on November 25, 2020.

Then my internet “friend” contacted me and urged me to trade USOil. I did some research and predicted the oil price would likely go down soon. So I placed an order to trade USOil for 5 “sell” positions at the price of $45.26, and also set up a T/P price of $44.50. The order was placed on 2020/11/25 @06.01. The next day (2020/11/26), to my disbelief, I found the original price of my positions was changed to $41.91, and my positions were closed by the broker at the price of $45.27. As a result, $16,800 USD was taken away from my account as a “loss” and only $113.77 was left in it. I immediately sent a message to the broker’s contact email address SUPPORT@BISAZZAFOREX.COM and asked for an explanation. No response. I have been sending 7 more inquiries/requests to them during the last 45 days but still did not receive a single response.

A week after the incident, I found all data in my account history were erased and my balance in my account became $0. However, I had already saved a copy of all my transactions/trading records of my account (in the form of screenshots) before the data were erased.

I initially thought it was a computer system error, but after these 45 days of waiting for a response, I realized my “loss” was intentionally created by the broker and this was a big scam. I believe there are more victims like me out there in the world.

I did some research on this broker. According to E-ASSETS RETRIEVAL LLC, this broker is “a 4 months old fraudulent cryptocurrency website whose Hosted IP Address: 103.43.189.172, Hosted Country: Singapore SG, Location Latitude:1.3667, Location Longitude:103.” As well they “have stocked quite a large amount of Bitcoin in several wallets on Blockchain accounts”.

At this time, the broker’s website is still active on the internet under “bisazzamarket.com”, but their contact email address SUPPORT@BISAZZAFOREX.COM seems to be disconnected and email sent to this email address was returned.

Now, my questions to Forex Peace Army and to my fellow forex traders --

1) What authority I should report this fraudulent broker to? (I already reported to US MSB, but they replied saying it was not their business to supervise/regulate this broker, although this broker was registered with them)

2) Is there any way to go after this broker to get my money back?

3) Is there any way to post my comments on this broker on the internet so that other people will be alerted before they think of investing into this broker?

Thank you for your time in reading this long message. I look forward to receiving your comments and advices.
 

FxMaster

Lt. Colonel
Messages
10,638
I was ripped off $16,800 USD by this forex broker on 2020/11/25. They did it in a fraudulent and shameless way: They changed the original price of my positions after I placed an order in their trading platform (MT4) and then closed my positions to create a ‘loss’ to my account.

Details as follows --

I was introduced to this broker’s website by a “friend” that I met on the internet in August 2020. I checked the broker’s website and read that they were registered with the US MSB (Money Services Businesses) and would follow regulations of the MSB. I checked the MSB membership website and indeed they were registered as HONG KONG BISAZZA INVESTMENT MANAGEMENT LIMITED with a Reg.# 31000173272472. They were allowed to do foreign exchange and Money transmitter over all US states. I therefore thought they were a legitimate forex broker and created a live account with them and invested a total of 9,200 USD into my account in October. This broker utilized MT4 as their trading platform and I was able to download the platform onto my cellphone to do trading. I made some profits in trading and my account balance was $16,905.40 on November 25, 2020.

Then my internet “friend” contacted me and urged me to trade USOil. I did some research and predicted the oil price would likely go down soon. So I placed an order to trade USOil for 5 “sell” positions at the price of $45.26, and also set up a T/P price of $44.50. The order was placed on 2020/11/25 @06.01. The next day (2020/11/26), to my disbelief, I found the original price of my positions was changed to $41.91, and my positions were closed by the broker at the price of $45.27. As a result, $16,800 USD was taken away from my account as a “loss” and only $113.77 was left in it. I immediately sent a message to the broker’s contact email address SUPPORT@BISAZZAFOREX.COM and asked for an explanation. No response. I have been sending 7 more inquiries/requests to them during the last 45 days but still did not receive a single response.

A week after the incident, I found all data in my account history were erased and my balance in my account became $0. However, I had already saved a copy of all my transactions/trading records of my account (in the form of screenshots) before the data were erased.

I initially thought it was a computer system error, but after these 45 days of waiting for a response, I realized my “loss” was intentionally created by the broker and this was a big scam. I believe there are more victims like me out there in the world.

I did some research on this broker. According to E-ASSETS RETRIEVAL LLC, this broker is “a 4 months old fraudulent cryptocurrency website whose Hosted IP Address: 103.43.189.172, Hosted Country: Singapore SG, Location Latitude:1.3667, Location Longitude:103.” As well they “have stocked quite a large amount of Bitcoin in several wallets on Blockchain accounts”.

At this time, the broker’s website is still active on the internet under “bisazzamarket.com”, but their contact email address SUPPORT@BISAZZAFOREX.COM seems to be disconnected and email sent to this email address was returned.

Now, my questions to Forex Peace Army and to my fellow forex traders --

1) What authority I should report this fraudulent broker to? (I already reported to US MSB, but they replied saying it was not their business to supervise/regulate this broker, although this broker was registered with them)

2) Is there any way to go after this broker to get my money back?

3) Is there any way to post my comments on this broker on the internet so that other people will be alerted before they think of investing into this broker?

Thank you for your time in reading this long message. I look forward to receiving your comments and advices.
I saw, you already added review here https://www.forexpeacearmy.com/forex-reviews/18497/bisazzamarket-forex-brokers about them.

Now, follow this...........................

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2:Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.


OP Screen shot.jpg
 

Hugh Tan

Recruit
Messages
3
I saw, you already added review here https://www.forexpeacearmy.com/forex-reviews/18497/bisazzamarket-forex-brokers about them.

Now, follow this...........................

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2:Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.


OP Screen shot.jpg
Thank you FxMaster for your instructions. I saw the invitation and clicked the "submit" button. However I was not able to find the "Invite company" button as described in the Tutorial. Can you guide me how to find that button? Thanks a lot.
 
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