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Global Broker governance & inquiry App
No Regulation
Score
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/10
The WikiFX Score of this broker is reduced because of too many complaints!
BOMANFX
Saint Vincent and the Grenadines|5-10 years| Suspicious Regulatory License|White label MT4|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|
https://www.bomfx.com/
Website
Rating Index
MT4/5 Identification
MT4/5 Identification
White Label
2
Server Name
BomanLtd-Demo01 MT4
Server Location 
Hong Kong
Hong KongContact
+1784 3625 8921
server@bomfx.com
https://www.bomfx.com/
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
+1784 3625 8921
Chinese (Simplified)
+852 6158 1808
Broker Information
More
Company Name
BOMANFX Financial
Company Abbreviation
BOMANFX
Platform registered country and region
Saint Vincent and the Grenadines
Company website
Pyramid scheme complaint
Expose
Check whenever you want
Download App for complete information
Warning: Low score, please stay away!
4
Previous Detection :
2024-04-25
- 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 15 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
WikiFX Verification
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Exposure
17 pieces of exposure in total Pyramid scheme complaint
Expose Resolved
The unlimited-withdrawal commitment broke.
Scam platform canceled the agents’ accounts and gave no access to withdrawal.
2019-12-04 14:38
Unable to Withdraw
Unable to withdraw, account freed
This broker refused to withdraw and freed my account for no reason. The service gives no response. Don't be fooled!
2019-09-06 10:26
Scam
The boss of the platform ran away! Employees are ready to call the police.
I have never met a scam platform, but this is the first time. I must expose this platform. It is out of function within a month and I cannot withdraw or sign in. Now I cannot even find a service!
2019-09-13 16:11
Unable to Withdraw
After abnormal upgrade,the website is disabled now!
It is said to be upgraded,which hasn’t been done for two days! The website is disabled,giving no access to withdrawal! With my fund locked,I feel hurt! Now I am doubting whether it is a fraud platform,about which can’t feel safe! Please be wisely when making investments! Don’t be cheated!
2019-09-11 09:02
Others
Garbage platform
The MT4 is normal in other platforms, while I couldn’t log in in this garbage platform.
2019-12-12 00:33
Unable to Withdraw
The customer service didn’t deal with the withdrawal request.
I have applied for the withdrawal for half month. It is yet to be received, albeit a successful process. The service doesn’t respond.
2020-05-16 11:08
Unable to Withdraw
Cannot Withdraw
I made a profit but they won't let me withdraw. They keep finding themselves excuses and stalling off for half a month instead of letting me withdraw. This is a scam platform. Don't fall into their trap.
2019-09-04 09:45
Unable to Withdraw
Unable to withdrawal. The customer service is out of contact.
In July, I knew this website from web and contact it to be its agent. Then a person named David added me. After discussing the commission, I introduced a client to open an account to trade. While he made a loss, I got the commission smoothly.Later, he traded and double the position nearly, but the platform deducted all his profits. Another clients also encountered with the same situation. The platform responded that the account manager who disobeyed the rule has had been dismissed. The scam platform blamed the problem on the manager. When I asked for compensation, the platform even give no access to the withdrawal. Hope you draw lessons form it.
2019-12-13 18:04
Others
Unable to withdraw
The withdrawal in the bonus-sending activity is unavailable. The customer service keeps holding off time.
2019-12-25 21:18
Unable to Withdraw
The run chart of the platform keeps frozen since Monday. The service is also missing.
Ever since Monday dusk, the run chart of MT4 of this platform keeps still. The service is missing. I cannot withdraw my money in my account or open the website.
2019-09-13 17:03
Others
The commission hasn’t been audited for months.
The commission hasn’t been audited for months. And the balance was only several hundred dollars left. The manager has blocked me. The official service responded that it is under verification, keeping holding off.
2020-03-23 15:59
Resolved
Delayed withdrawal
I came to Donghengxiang Hexiang Company for training, located in Chengdu on April 16th, 2020. During the assessment, the trainer repeatedly told us that there are many foreign exchange trading opportunities, which are better than stocks, only to guide novices to open accounts. I passed the mock assessment last week. The real-market assessment would open on this Monday, what if I made money? Then I opened an account for evaluation. I deposited $5000 into a private account, at which I was skeptical. But under the guidance of the company's leadership, I eased vigilance and successfully deposited funds. I accidentally found this fraud platform on WikiFX, so I applied for a withdrawal, and the customer service kept holding off again and again. After the May Day, the withdrawal is yet to be received. It is simply a fraud.
2020-05-01 06:23
Scam
The staff of BOMANFX are out of contact.
The withdraw is unavailable.The website doesn’t response,as well as the MT4.The staff are out of contact.
2019-09-14 21:11
Scam
BOMANFX scam platform,give back my hard-earned money.
Fraud platform prevents me from sending emails,which pisses me off ! I implore WikiFX to remove it out in case that it continue to cheat! Otherwise,what is WikiFX used for?
2019-09-15 04:43
Unable to Withdraw
The website and money withdrawing are inaccessible
The website is too unstable, what happened? No one answered the customer service call! I can’t login the website now, and is unable to withdraw the money! I'm furious! The server is completely stuck! The problem has not yet fix since last night!
2019-09-10 11:23
Others
The commission is unavailable in BOMANFX platform.
The company name and its website are,namely,BOMANFX and https://www.bomfx.com/cn/. I opened the agent business on the 17th,June,2019 and developed a deposit operation($1000) on the 2nd,July,2019.Now I have several problems:Firstly,my commission in the agent backstage,more than $200,was unavailable.I was told that I failed to meet the conditions,but why you didn’t tell me in advance.According to my acknowledge,the condition is recent released,even the channel manager wasn’t informed of it.Then he promised to communicate it with CRO,but failed after three-day’s consultation.Both customer service and channel manager threw the blame on CRO.Secondly,the forced liquidation rate was 100%,which was adjusted to 40% after consultation with the channel manager.But it led my loss of $500 because of their mistake.Then they would compensate me for $500 line of credit,which couldn’t be withdrawn.They bore all blame on the agent and even threatened me that it’s no use complaining!
2019-07-23 01:06
BOMANFX · Company Summary
| BomanFX | Basic Information |
| Company Name | BomanFX |
| Founded | 2010 |
| Headquarters | Saint Vincent and the Grenadines |
| Regulations | Not regulated |
| Tradable Assets | Currency and CFDs trading |
| Account Types | Demo, Micro, Standard, and VIP accounts |
| Minimum Deposit | $100 |
| Maximum Leverage | 1:200 |
| Spreads | Starting from 0.9 pips |
| Payment Methods | Credit/debit cards and bank wire transfers |
| Trading Platforms | MetaTrader 4(MT4) |
| Bonus Offerings | $20 welcome bonus |
| Customer Support | Phone: +852 6158 1808 (Chinese), +1784 3625 8921(English), Email: server@bomfx.com, QQ: 1820596006 |
Overview of BomanFX
BomanFX, founded in 2010 and based in Saint Vincent and the Grenadines, operates as a Forex broker specializing in currency and CFDs trading. The company offers a range of account types, including demo, micro, standard, and VIP accounts, to accommodate various trading preferences and experience levels. Traders can access the markets through the MetaTrader 4 (MT4) platform, renowned for its advanced features and intuitive interface. However, it's crucial to acknowledge that BomanFX operates without regulation from any financial regulatory authority, potentially exposing traders to risks. As such, traders should exercise caution and carefully assess the risks before engaging in trading activities with BomanFX.
Is BomanFX Legit？
BomanFX is not regulated. It's crucial to highlight that this broker lacks proper regulation, implying it operates without supervision from established financial regulatory bodies. Traders must proceed with caution and recognize the inherent risks when contemplating trading with an unregulated broker like BomanFX. Such brokers may offer limited channels for dispute resolution, raise concerns about the safety and security of funds, and exhibit a lack of transparency in their operational practices. To ensure a safer and more secure trading experience, it's recommended that traders conduct comprehensive research and carefully assess the regulatory standing of a broker before initiating any trading activities.
Pros and Cons
BomanFX offers traders the advantage of utilizing the widely recognized MetaTrader 4 platform, renowned for its comprehensive features and user-friendly interface. Moreover, the broker provides multiple account types, catering to diverse trading preferences and experience levels. However, it's imperative to note that BomanFX operates without regulatory oversight, which may potentially expose traders to risks associated with unregulated trading practices. Additionally, the lack of transparency regarding company policies and procedures, as well as the absence of educational resources, raises concerns about accountability and trader support. Furthermore, unclear information on spreads and commissions adds to the ambiguity surrounding trading conditions. Overall, while BomanFX presents opportunities for trading, traders should exercise caution due to the lack of regulatory supervision and limited support resources, ensuring a safer and more secure trading experience.
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Trading Instruments
BomanFX is a Forex broker that offers cryptocurrency pairs and CFDs on different trading assets.
Account Types
BomanFX offers three types of live accounts: Micro, Standard, and VIP accounts, in addition to a demo account.
The Micro account necessitates a minimum deposit of 100 USD, while the Standard account requires 1000 USD, and the VIP account mandates 5000 USD.
Leverage
Traders can trade with leverage up to 1:200.
Spreads
Regarding spreads, the micro account typically ranges between 1.9 – 2.1 pips, the standard account between 1.5 – 1.7 pips, and the VIP account between 0.9 – 1.1 pips. However, it's important to note that the spreads advertised on the website appear to be significantly higher than these values, which may cause confusion for traders.
Deposit & Withdraw Methods
BomanFX exclusively offers credit/debit cards and bank wire transfers as the accepted payment methods. Depositing funds typically takes five business days to reflect in the trading account. Regarding withdrawals, BomanFX processes withdrawal requests within 5-7 business days.
Trading Platforms
BomanFX utilizes the MetaTrader 4 (MT4) trading platform, renowned for its robust features and user-friendly interface.
Customer Support
BomanFX provides access to the following contact channels:
Phone: +852 6158 1808 (Chinese), +1784 3625 8921(English)
Email: server@bomfx.com
QQ: 1820596006
Conclusion
In conclusion, BomanFX offers traders the widely recognized MetaTrader 4 platform and multiple account types, catering to diverse trading preferences. However, it's imperative to note that BomanFX operates without regulatory oversight, potentially exposing traders to risks associated with unregulated trading practices. Additionally, the lack of transparency regarding company policies and procedures, coupled with the absence of educational resources, raises concerns about accountability and trader support. Furthermore, unclear information on spreads and commissions adds to the ambiguity surrounding trading conditions, potentially hindering informed decision-making for traders. Traders should exercise caution and conduct thorough research before engaging with BomanFX to mitigate potential risks and ensure a safer trading experience.
FAQs
Q: Is BomanFX regulated？
A: No, BomanFX operates without regulation, lacking oversight from recognized financial regulatory authorities.
Q: What trading instruments are available on BomanFX？
A: BomanFX offers cryptocurrency pairs and CFDs on various trading assets.
Q: What account types does BomanFX offer？
A: BomanFX provides three types of live accounts: Micro, Standard, and VIP accounts, along with a demo account, catering to different trading preferences and experience levels.
Q: How long does it take for deposits and withdrawals to be processed by BomanFX？
A: Depositing funds typically takes five business days to reflect in the trading account, while withdrawals are processed within 5-7 business days.
Risk Warning
Trading online carries substantial risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for all traders or investors. Please take the time to fully understand the risks involved before proceeding. Additionally, please be aware that the information provided in this review is subject to change as the company's services and policies evolve over time. It's crucial to verify any information directly with the company before making any decisions or taking action. Ultimately, the responsibility for utilizing the information in this review lies solely with the reader.
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