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BONUS

United States|5-10 years|
White label MT4|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://www.bonusfm.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
BonusFinance-Real01 MT4
Server Location South Korea

Contact

4006182737
markets@bonusfm.com
http://www.bonusfm.com/

Licenses

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

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

4006182737

Broker Information

More

Company Name

BONUS FINANCE LTD

Company Abbreviation

BONUS

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-05-31
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • United StatesNFA (license number: 0506567) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!

WikiFX Verification

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BONUS · Company Summary

Aspect Information
Company Name BONUS FINANCE
Registered Country/Area United States
Founded Year 2008
Regulation Unauthorized by the NFA
Market Instruments Stocks, Forex, Commodities, Cryptos
Minimum Deposit $200
Maximum Leverage Up to 1:100
Spreads Fixed 0.2%
Trading Platforms MetaTrader 4 (MT4)
Customer Support Contact number 4006182737 or via email at markets@bonusfm.com.
Deposit & Withdrawal Bank transfer, Credit card

Overview of BONUS FINANCE

BONUS FINANCE, established in the United States in 2008, offers a wide range of trading assets, including stocks, forex, commodities, and cryptocurrencies. The platform boasts a fixed 0.2% spread, providing transparency in trading costs, and supports the widely used MetaTrader 4 for a user-friendly trading experience.

Despite its accessibility with a $200 minimum deposit, BONUS FINANCE faces criticism for lacking NFA authorization, raising questions about regulatory compliance. Users have reported challenges in navigating the platform, and the passive customer support approach contributes to dissatisfaction. The company's foundation in 2008 underscores its significant presence in the financial market.

Overview of BONUS FINANCE

Is BONUS FINANCE legit or a scam?

BONUS FINANCE operates without authorization from the National Futures Association (NFA), rendering it unauthorized in the United States financial landscape.

The platform holds a Common Financial Service License but lacks the crucial endorsement from regulatory bodies. This unauthorized status has significant implications for traders engaging on the platform. Without the NFA's approval, traders will face heightened risks, as the absence of regulatory oversight increases the likelihood of potential malpractices or inadequate security measures.

Is BONUS FINANCE legit or a scam?

Pros and Cons

Pros Cons
Fixed 0.2% spread Unauthorized by the NFA
MT4 trading Lack of proactive customer support
Minimum deposit $200 Difficulty in navigating the platform
Bank transfer and credit card deposits Limited initiative in addressing user needs
Various asset options including stocks, forex, commodities and cryptos User dissatisfaction with service
Official website inaccessible

Pros:

  • Fixed 0.2% spread: BONUS FINANCE offers a transparent fee structure with a fixed 0.2% spread, allowing traders to easily calculate and anticipate trading costs.

  • MT4 trading: The use of MetaTrader 4 provides a widely recognized and user-friendly platform with comprehensive charting tools and automated trading options.

  • Minimum deposit $200: The platform sets a relatively accessible minimum deposit requirement of $200, enabling a broader range of users to initiate trading activities.

  • Bank transfer and credit card deposits: BONUS FINANCE supports convenient deposit methods through bank transfers and credit cards, offering flexibility for users to fund their accounts.

  • Various asset options: Traders have access to a variety of assets, including stocks, forex, commodities, and cryptocurrencies, allowing for a wide range of investment strategies.

Cons:

  • Unauthorized by the NFA: BONUS FINANCE lacks authorization from the National Futures Association (NFA).

  • Lack of proactive customer support: Traders have reported dissatisfaction with customer support, citing a lack of initiative in addressing user needs and delayed responses to queries.

  • Difficulty in navigating the platform: Users find the platform challenging to navigate, requiring independent efforts to build knowledge, which poses obstacles for those new to trading.

  • Limited initiative in addressing user needs: The platform has been criticized for its passive approach, necessitating users to initiate queries rather than receiving proactive guidance.

  • User dissatisfaction with service: Negative feedback suggests that users have experienced dissatisfaction with various aspects of BONUS FINANCE's service, impacting overall user satisfaction.

  • Official website inaccessible: Some users have reported difficulties accessing the official website, which can impede the trading experience and information retrieval for investors.

Market Instruments

BONUS FINANCE offers a wide range of trading assets, encompassing both traditional financial instruments and emerging digital currencies.

Stocks: The platform supports stock trading from major global exchanges, including renowned companies from the U.S., Europe, and Asia. Examples include Apple (AAPL), Alibaba (BABA), and Tesla (TSLA).

Forex: BONUS FINANCE provides trading opportunities for major currency pairs and some emerging currencies, such as USD/EUR, GBP/USD, and AUD/USD.

Commodities: The platform facilitates trading in popular commodities like crude oil, gold, and silver, serving investors seeking various asset allocation.

Cryptocurrencies: Users can engage in transactions involving mainstream cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), as well as emerging crypto projects.

Other Assets: BONUS FINANCE also offers various other types of trading assets, including indices, futures, and bonds.

Market Instruments

How to Open an Account?

  1. Registration:

    1. Visit the official BONUS FINANCE website.

    2. Click on the “Open Account” button.

    3. Fill in the required personal information accurately, including name, email, and contact details.

2. Verification:

  • Submit the necessary identification documents, such as a government-issued ID and proof of address, through the platform's verification portal.

  • Await verification approval, which is typically processed within a specified timeframe.

3. Deposit Funds:

  • Log in to your verified account.

  • Navigate to the deposit section and choose a preferred funding method (bank transfer or credit card).

  • Transfer a minimum of $200 to the provided account details, completing the deposit process.

Leverage

BONUS FINANCE provides a maximum leverage of up to 1:100 for traders on its platform. This leverage ratio signifies that users can control a position in the market with a value up to 100 times their invested capital. The availability of such leverage can amplify both potential profits and losses, offering traders the opportunity to engage in larger positions than their actual capital would allow.

Spreads & Commissions

BONUS FINANCE operates with a fixed spread model, where the spread is set at 0.2% for trading transactions. This fixed spread implies that the difference between the buying and selling prices of assets remains constant at 0.2%, providing transparency to traders regarding the cost of executing trades.

Notably, BONUS FINANCE does not impose any commission charges on transactions. This means that traders on the platform are not subject to additional fees based on the volume or value of their trades.

For instance, if a trader engages in a transaction with an asset valued at $1,000, the fixed spread of 0.2% would amount to $2. This spread represents the cost associated with executing the trade, and since there are no commission charges, the trader incurs no additional fees beyond this fixed spread.

This fee structure offers simplicity and clarity to users, allowing them to calculate and anticipate trading costs accurately. Traders should be aware of the fixed spread when planning their trading strategies and factor it into their overall risk management approach on the BONUS FINANCE platform.

Trading Platform

BONUS FINANCE operates its trading platform using MetaTrader 4 (MT4), which is available both as a web-based platform and a mobile application.

The use of MT4 is a common industry choice known for its widespread adoption and user-friendly interface. The web-based platform allows traders to access their accounts and execute trades directly through a web browser, providing convenience and flexibility. Additionally, the mobile application enables users to trade on the go using smartphones or tablets.

MetaTrader 4 is recognized for its comprehensive charting tools, technical analysis capabilities, and a variety of order types. Traders on the BONUS FINANCE platform can benefit from features such as real-time price quotes, customizable charts, and automated trading options using Expert Advisors (EAs). The platform supports a range of trading instruments, including forex, stocks, commodities, and cryptocurrencies.

While MT4 is known for its reliability and popularity, the trading experience on the BONUS FINANCE platform is ultimately dependent on factors such as server performance and internet connectivity.

Trading Platform

Deposit & Withdrawal

BONUS FINANCE facilitates deposits through bank transfers and credit cards, offering users flexibility in funding their trading accounts.

The minimum deposit requirement on the platform is set at $200. Traders can opt for bank transfers, allowing them to directly transfer funds from their bank accounts to the trading account. Additionally, credit cards can be used for deposits, providing a convenient and widely used method for funding trading activities.

Customer Support

BONUS FINANCE's customer support has received criticism for its perceived shortcomings. Traders have reported dissatisfaction with the responsiveness of the support team, citing delayed responses and limited assistance in addressing their questions.

The contact number provided, 4006182737, is said to lack efficiency, with users expressing frustration over difficulties reaching a live representative.

The email contact, markets@bonusfm.com, is an alternative method, but users have highlighted issues with timely issue resolution. This negative feedback suggests areas of improvement in BONUS FINANCE's customer support, where enhanced responsiveness and effective communication channels are warranted.

Customer Support

Exposure

Users' exposure to BONUS FINANCE reflects a challenging experience characterized by a lack of proactive support.

Traders find the service difficult to navigate, expressing frustration at the platform's passive approach where users are required to initiate queries. The absence of proactive guidance poses a significant hurdle for those new to trading, leading to extended periods spent independently building fundamental knowledge. This user exposure dynamic impacts trading on the platform, potentially hindering efficiency and causing frustration, as traders face obstacles in navigating the intricacies of BONUS FINANCE without readily available assistance or guidance.

Exposure

Conclusion

In conclusion, BONUS FINANCE presents a mixed landscape for traders. On the positive side, the platform offers a transparent fee structure with a fixed 0.2% spread, making it easy for users to calculate and anticipate trading costs. Additionally, the inclusion of MetaTrader 4 (MT4) enhances the overall trading experience, providing comprehensive charting tools and automated trading options. The accessibility of a $200 minimum deposit allows a broader user base to participate in trading activities.

However, the platform faces notable drawbacks. The lack of authorization from the National Futures Association (NFA) raises questions about regulatory compliance and the potential risks associated with unauthorized trading. Users have reported difficulties navigating the platform, and the passive customer support approach has contributed to dissatisfaction among traders.

FAQs

Q: What is the minimum deposit required on BONUS FINANCE?

A: The minimum deposit is $200.

Q: Can I trade cryptocurrencies on BONUS FINANCE?

A: Yes, the platform supports trading in cryptocurrencies like Bitcoin and Ethereum.

Q: Is BONUS FINANCE regulated by the National Futures Association (NFA)?

A: No, BONUS FINANCE is unauthorized by the NFA.

Q: What is the maximum leverage offered on BONUS FINANCE?

A: The maximum leverage is up to 1:100.

Q: Which trading platform does BONUS FINANCE use?

A: BONUS FINANCE utilizes MetaTrader 4 (MT4) for trading activities.

Q: How can I contact customer support on BONUS FINANCE?

A: You can reach customer support at the provided contact number 4006182737 or via email at markets@bonusfm.com.

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Zhulirode
more than one year
The service is hard to grasp, they don't take any initiative and just wait to be asked. If you don't know what questions to ask, you're out of luck. Literally spent countless weeks building basic knowledge from scratch.
2024-01-08 10:33
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