Company Profile
Since BestoFeXs official website (http://thebestofex.com/) is temporarily down, we could only piece together the rough picture of this brokerage house by gathering some relevant information from other websites.
General Information
Registered in Saint Vincent and the Grenadines, BestoFeX is newly-established forex broker, claiming to provide easy access to various financial markets, such as currency pairs, commodities, index, stocks, and more. BestoFeX offers the flexibility to choose from thrre trading accounts, with the minimum deposit to invest with this broker starting at $200, the maximum leverage available up to 1:500.
BestoFeX is the trading name of BestoFeX Limited, a St.Vincent and the Grenadines-based company. BestoFeX is just an offshore forex broker under no valid regulation. please be aware of the risk involved.
Account Types
BestoFeX provides three tiered trading accounts to accommodate varying trading needs of different traders, namely Standard, Professional and ECN.
The Standard account is suitable for all types of traders, asking for an initial deposit of $200, which is acceptable. The professional account is designed for professional traders, with the minimum deposit starting at $2,000. The ECN account is ideal for scalpers who pursue superb trading environment, low spreads, and traders who want to try out this account need to fund at least $2,000.
Leverage
When it comes to leverage, BestoFeX permits traders to use leverage of up to 1:500, which is significantly higher than the levels regarded appropriate by many regulators.
Leverage can also cause serious fund losses, so it is wise to keep your leverage ratio at no more than 10:1 for a beginner.
Spreads
Commissions are not disclosed,
and spreads on the BestoFeX are tied to the type of trading account you have, as is the case with most other forex brokers. The standard account offers average spreads from 0.8 pips, and professional can ECN account offer more competitive spreads from 0.1 pips and 0.0 pips, respectively.
Initial Deposit Bonus
To attract more clients, BestoFeX provides an initial deposit bonus, which means if you make a deposit, you have the chance to get the bonus. Please note that bonus cannot be withdrawn, it can only be for trading.
Trading Platform
BestoFeX provides its clients access to the leading MT5 trading platform and some features and functionalities of the MT5 trading platform include the following:
User friendly and high-customized
Multiple technical indicators, and robust charting tools
Free EA hosting capabilities
Web and mobile trading support
Customer Support
Traders can reach out to EMD Forex about any questions or concerns they may have about their accounts or their trading through the following methods:
Telephone: +44 7552923107
Email: support@thebestofex.com
Or you can follow this brokerage house Facebook.
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
