Meet the cryptocurrency exchange Brailex, which has an average rating of 3.5 points in reviews. Despite the small number of mentions on the internet, the platform boasts on its website of having 154,000 clients, more than 15 million in turnover over the last 7 days, and 1.5 million in trading volume within a day. It is unclear where exactly the company is legally based, but the user agreement mentions the British organization Crypto Arby Limited. So, can one trust an unknown exchange without a license and without a specified operating period?
How to Trade
According to the official website, Brailex offers its clients a variety of additional services besides spot and futures trading of digital currency:
- Exchange service: P2P, instant swap, and a custodial wallet for storage.
- Copy-trading and auto-trading.
- Staking, referral, and bug bounty programs.
- Launchpads and saving accounts.
- Auxiliary widgets: technical analysis, market screener, and a heat map of assets.
Brailex allows you to stake crypto assets with a yield of up to 420% annually. It is not entirely clear where such high percentages come from, possibly as part of a marketing campaign. The commission is calculated based on the traded volume: the higher the turnover in the last 30 days, the lower the commission. The default fees are 0.3% for both the maker and taker.
Brailex Vital Info
It is unknown when the platform was launched, as such information is not indicated on the website. The low level of internet reviews hints at a short operating period. Moreover, the domain of the site, although registered in 2019, was up for sale all this time until Brailex purchased it in November 2023. Additionally, the date of the first post on Instagram is also in early November 2023.
Nothing is mentioned about regulation. However, the user agreement mentions the legal entity Crypto Arby Trade Limited, based in the United Kingdom. We referred to the Companies House and FCA registries, and here’s what was found. Brailex refers to an organization that was liquidated at the end of 2022. Interesting, isn’t it? Moreover, such a company is not even present on the FCA registry.
These are scammers, don't be fooled. The cryptocurrency exchange Brailex is a fake and a scam. Scammers deceive people using two themes targeting gullible users:
Profitable crypto arbitrage. Look at the asset prices on their platform. There, Bitcoin is priced at $43,000, whereas at the time of writing this review, the price of the main digital currency does not exceed $38,000. That's a $5,000 difference! It is on this difference that scammers offer to make money for inexperienced newcomers who happily buy the asset in one place and then transfer it here, to the fraud place, and end up losing, as in essence, victims transfer money directly to the scammers.
Profitable investments. Staking with 200-300% annually? Okay, that's a normal yield for small and junk altcoins, but not for BTC, USDT, or ETH. For such assets, a normal yield is no more than 5% annually. But here they offer you huge percentages. This is simultaneously a Ponzi scheme and a scam.
Now you know what this is about. A classic crypto scam, luring people with sweet percentages, profitable arbitrage, and other fraudulent tricks.
I sent a transaction to the exchange, 350 USDT, but my money never appeared in my account. The transaction was successfully processed, but nothing else happened. I wrote several times to the email addresses I could find on their website, but never received a response. I wrote to them on Instagram and Twitter accounts but also got no response.
Brailex is a scam site where people are deceived and their cryptocurrency is stolen. Don't transfer money to scammers. Don't upload documents for KYC&AML, because your personal data will end up in fraudulent hands!
Blatant fraud… lost $150, my account was blocked without any possibility of unblocking… customer support managers do not respond to me… I don't know what to do and how to get back my $150.
Read reviews online and you will understand that Brailex is deceiving people. If it were a real cryptocurrency exchange with so many clients, believe me, it would be on Coingecko or Coinmarketcap. But it's not there, and its Twitter doesn't have followers except for bots. Moreover, it's unknown who founded the platform, it's an anonymous entity. The legal address is hidden, except for a British company that was long liquidated. And where are the licenses? They're also absent. It is not discussed in cryptocurrency chats and channels. The crypto exchange is a NONAME. Therefore, stay away from it, or you will lose all your funds.
Has anyone dealt with this platform? With over 100,000 traders, there must be some here who trade on it? I need advice urgently. Can the crypto exchange be trusted, or is it better not to? There are a lot of useful and profitable services here that I have my eye on, as well as a portion of my capital that I want to invest. But I am interested in the reliability and security of the company. Because I have some doubts about trusting the platform. Yes, there's a large flow of clients (if, of course, that's true), and high turnovers, but for some reason, there are very few reviews, and some are negative. Some users write about the impossibility of withdrawal, but a representative of Brailex responds that it's not a real client of the exchange. I am confused.
100% scam! Don't fall for the fraud!!! Don't watch YouTube because scammers create fake videos, where they talk about profitable arbitrage. It's all lies and fakes. People lose money. They deposit their crypto on the platform, and then either get their account blocked or, for some other reason, can't withdraw funds. And if you see positive reviews about BRAILEX, they are 100% fake. Don't believe the positive reviews, as they are written by scammers who received money from representatives of this fake exchange.