No valid regulatory information
Please be aware of the risk!
No restriction on the broker account. Provide service support by WikiFX
It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
The gang of King Yi scammed huge amount of fund through BCCT fake trading system
The 3.08 million RMB was all savings of my family. With a rough estimation, the fund coveted has reached nearly 10 million RNMB. Scammers’ accounts: Liu Chuanshu, 6217003230049776242, Shenzhen Baonianhua Trading Co., Ltd. 010900040053331 Shenzhen Yingxinfu, Machinery Leasing Co., Ltd. 001200040072501 Shenzhen Rongzhihui Machinery Leasing Co., Ltd. 017900040027247 Shenzhen Shihuan Shun Industrial Co., Ltd. 015400040068145 Remember the names or nicknames of these crooks: Wang Tianyi , Yifeng, Lao Qi, Zhu Xiaohua, Fang Xin, Liu Hailin, and Liu Chuanshu Please investigate this illegal platform, arrest the scammers, and bring justice to the victims.
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General Information & Regulation
Founded in 2016 and headquartered in London, UK, BCFEX is a multi-asset trading company offering investors financial instruments such as cryptocurrencies, CFDs, Forex. BCFEX is currently not subject to any effective regulation.
BCFEX offers investors access to some financial instruments, including currency pairs in the Forex market, CFDs, cryptocurrencies, and binary options. Tradable instruments offered by BCFEX seem pretty average, as some popular assets not available, like indices, shares, ETFs, etc.
The minimum initial deposit part is not fully disclosed. Most brokers would require a minimum initial deposit of $100-$200 for brokers to start a basic account.
Spreads and Commissions are not mentioned on the BCFEX website.
Spreads & commissions
BCFEX does not announces any key trading conditions on its website. A broker is usually by adding spreads and commissions onto a traders trade to make a profit. No clear trading conditions are provided, such as spreads, commission, which means brokers are vague about trading fees to cheat traders.
BCFEX offers investors the leading MT5 trading platform on the market. MT5 is the latest version of MT4 and has all the positive features of the MT4 platform, including more built-in technical indicators and timeframes. However, it is not as stable as the MT4 trading platform.
BCFEX Pros & Cons
BCFEX Advantages Include:
1. MT5 trading platform
BCFEX disadvantages Include:
1. Not subject to any regulation
2. Narrow range of trading products
3. Showing no information about trading conditions (such as spreads, commissions, etc.)
4. No account information
5. Absence of information on deposit and withdrawal
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.