BWSTOCKS IN UGANDA: BEWARE!
If you are interested in investing and live in East Africa, you have probably heard of a company called BWStocks.
BWStocks claims to specialise in Forex, crypto trading and real estate investments, with dedicated professionals located "throughout the world". They say that "if you signup, you will earn up to more than 2% daily from your deposits. The high profitability of BWSTOCKS is due to the availability of its own fast trading systems for Forex, Crypto and Stock markets."
Asinko.com is a free service that tries to unveil good investment and trading opportunities to those that don't deserve your attention. We are here to help you primarily.
Lately, we have received quite a few comments from people in East Africa (mainly from Uganda) asking us whether this company BWStocks is legit. So, we decided to review it, following you may read our findings.
Is BWStocks legit?
The first thing we did was to check out their website. At first glance:
It has lots of spelling mistakes. It is not a great first impression.
They market 2 "investment plans". One offers 1% DAILY, and the second one offers 1.1%, also daily. Trust us on this; there is no asset manager worldwide that can achieve that level of profit.
Their "Latest News" section is... empty.
They claim to have their headquarters in New York, United States. However, they couldn't even spell "New York" correctly; on their website, it says Newyork. And when you check out what seems to be a fake address, it shows a residence in Queens. If you are a big, global financial player, your offices would be in Manhattan, not Queens.
Our verdict is that every public aspect of this website looks strange, unprofessional, and in some cases, a plain lie. So, we highly do not recommend you to trust this company. Just beware, there are many scams in Africa promising great returns.
If you want to invest in the Uganda Securities Exchange, check our specialised article.
Do you intend to trade US/European Stocks?
If instead, you intend to trade US or European Stocks, Forex and Cryptos, you should know that not many big companies open trading accounts for clients based in Uganda. But we have done the research for you and compiled a list of trading companies that allows local investors.