Bforex

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.