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

Bforex

United Kingdom|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.bforex.com/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

Russia 4.14

Surpassed 100.00% brokers

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Contact

+44 203 514 0458
customer.service@bforex.com
https://www.bforex.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

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

Single Core

1G

40G

Open Now

Disclosure

Contact number

English

+44 203 514 0458

Russian

+ 44 203 514 0458

Broker Information

More

Company Name

Bforex

Company Abbreviation

Bforex

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-04-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

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Bforex · Company Summary

General Information & Regulation

Bforex is an online broker registered in United Kingdom, with its founding time, actual address, and the company behind it not disclosed to all. There is no regulation information mentioned on the Bforex website. Bforex is an unregulated broker, it is unsafe to trade with it.

Market Instruments

Only forex trading is available on the Bforex platform. Whether traders can trade other trading assets with this broker is unknown.

Minimum Deposit

In terms of minimum initial deposit requirement, Bforex requires traders to open an account for as little as $200. Although this is a reasonable range, given the fact that Bforex is not regulated anyway,

It is unsafe to trade with this broker.

Leverage

The maximum trading leverage offered by Bforex is up to 1:200, when it comes to this part. Traders should note that high leverage level means high risks when in the fluctuating markets. It is important to learn how to use leverage and how to manage risks.

Spreads & Commissions

Bforex offers a commission-free environment. Specified spreads on particular instruments are displayed clearly on its official website. The spread on the EUR/USD pair is 3 pips, much higher than the industry standard, with the EURUSD spread varying from 1 pip to 1.5 pips. The spreads on the Gold and Silver are 0.5 pip and 0.04 pip, respectively, which seems average, not that competitive enogh.

Trading Platform Available

With respect to trading platform available, what Bforex offers is not the widely recognized MetaTrader platform. The trading platforms offered by Bforex are web-PROfit and Mobile PROfit. WebPROfit is an easy to use online trading platform allowing you to trade anytime from anywhere, no download required. The mobile PROfit is easy to download, free to all Bforex traders.

Deposit & Withdrawal

Deposit options available include Credit Card, Bank Transfer, as well as some e-wallet payment methods like Skrill, Neteller, OKPAY, CASHU, Sofort, QIWI, RBK, Filspay, Voguepay. On average, a withdrawal requests processing time is 4-5 business days, depending on your banking provider and your withdrawal documentation.

Customer Service

Both customer and technical support is available 24 hours from Sunday to Friday. The customer support team can be reached through telephone: +44 203 514 0458, +44 203 150 0447/ +35924928310 (English), 442038071435(Arabic), +5078365996 (Spanish), email:customer.service@bforex.com. Its live chat communication is not available.

User Reviews

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User comment

3

Comments

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hiro ye
more than one year
I encountered a few issues while using the platform and attempted to contact their customer support. Unfortunately, the response time was slow, and I found the support team to be less than helpful in resolving my concerns.
2023-04-06 09:53
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0
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hiro ye
more than one year
The trading platform itself seemed outdated, and I found the user interface to be less intuitive compared to other platforms I have used. Additionally, the availability of advanced trading tools and features was limited, which hindered my ability to make well-informed trading decisions.I was also disappointed with the lack of transparency in their fee and commission structure. The absence of clear information on trading costs made it difficult for me to assess the affordability,competitivene.
2023-04-06 09:53
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0
0
FX1261455873
more than one year
Worst prop firm out there. Unfortunately bought a couple of accounts with them and made the biggest mistake ever. Requested to review my account two years ago and so far I haven't seen my money back.
2023-02-27 18:30
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0
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