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

BFS

Hong Kong|10-15 years|
Regulated in Vanuatu|Suspicious Regulatory License|MT4/5 full license|Chinese market only|Vanuatu Retail Forex License Revoked|Suspicious Overrun|High potential risk|

https://www.bfsforex.com/en

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
BFS-Demo MT4
Server Location Hong Kong

Contact

+60 3 2164 6989
sales@BFSforex.com
https://www.bfsforex.com/en
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+60 3 2164 6989

German

496980921538

Broker Information

More

Company Name

BFS Market Ltd

Company Abbreviation

BFS

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 6
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 66 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    BFS · Company Summary

    Company Summary

    Company profile

    General Information & Regulation

    BFS Forex is a Forex broker owned and operated by BFS Markets Ltd, used to be licensed by the Mauritius Financial Services Commission, but this license was revoked in 2013. Currently, BFS Forex is not subject to any effective regulation.

    Market Instruments

    BFS Forex offers investors the opportunity to trade currency pairs, gold, silver, futures, and CFDs.

    Minimum Deposit

    To meet different investors' investment needs and trading experience, BFS Forex offers four different types of accounts, including Micro (minimum deposit of $5), Standard (minimum deposit of $100), Premium (minimum deposit of $10,000), and STP (minimum deposit of $10,000).

    BFS Leverage

    Trading leverage vary depending on various trading acccounts. The Micro account offers the maximum leverage of up to 1:1000, the Standard and Premium accounts offers the leverage of up to 1:500, and the STP account offers the maximum trading leverage of up to 1:100.

    Spreads & Commissions

    The BFS Forex Micro account offers fixed spreads starting from 2 pips, and the Standard account offers average spreads starting from 2 pips, the Premium account offers average spreads starting from 2 pips, and STP accounts have average spreads starting from 2 pips. There is not much information about trading commissions on BFS's official website.

    Trading platform

    Although BFS Forex is a risky forex broker, it still undeniably offers traders the market-leading and highly acclaimed MT4 trading platform. MT4 is currently the most popular forex trading platform, offering traders many custom options to develop, including many technical indicators, available for automated trading systems, developing different trading strategies for different levels of traders. It helps traders to get ahead in the financial markets.

    Deposit & withdrawal

    BFS Forex welcomes traders to fund their investment accounts via bank transfer, credit/debit cards, Perfect Money, and China UnionPay.

    BFS Forex Pros & Cons

    BFS Forex Pros:

    1. MT4 trading platform

    2. Four account types available

    BFS Forex Cons:

    1. No regulation

    2. High spreads & no information about commissions

    3. Few options for withdrawals and deposits

    4. A high number of negative comments on Forex forums

    User Reviews

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    User comment

    3

    Comments

    Write a review

    小74531
    more than one year
    I really don't want to remember my miserable experience, but I hope more people can read my review and stay away from this scammer. Don't trade with BFS! Totally a scam company. At first they lured me in with various conditions, letting me invest and promising me high returns. Please do not rely on such guarantees.
    2022-11-28 17:28
    Reply
    0
    0
    咩 ༗
    more than one year
    BFS seems to have absconded...Their website is unavailable now. And I also see so many exposures on the Internet complaining that this broker is a scam and they refuse to give money back to their users. Stay away!!!
    2022-11-27 10:13
    Reply
    0
    0
    FX1059700262
    more than one year
    Terrible, terrible platform, they induced me to make a deposit of $1,000, then they disappeared, leaving inaccessible official website, uncontactable support team! Damn it***, BFS, go to hell!
    2022-11-25 16:59
    Reply
    0
    0
    66
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