Broker Forex Bforex

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  • Binarium
    Binarium

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  • FinMax
    FinMax

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bforex

  • Company Financika Ltd.
  • Founded in 2007
  • Offices in
  • CashU
  • Credit/debit cards
  • MoneyPolo
  • Neteller
  • paysafecard
  • QIWI
  • Skrill
  • SOFORT
  • WebMoney
  • Wire transfer
  • United States dollar
  • Arabic
  • English
  • French
  • Hindi
  • Russian
  • Spanish
  • Turkish
  • Email
  • Office
  • Phone

Account Types:

  • Hedging
  • Overnight interest rates (swaps)
  • Pending orders
  • One-click trading
  • Minimum account size $250
  • Minimum position size 0.025 lot
  • Spread type Fixed
  • Spread on EUR/USD, pips 3
  • Scalping Forbidden
  • Expert advisors Allowed
  • Trading instruments
  • Forex 1:200
  • Gold & silver 1:200
  • CFD 1:200
  • Oil 1:200
  • Indexes 1:200
  • 2020-01-28 The French AMF has issued a warning about unauthorized forex brokers. BForex.com is on that list.
  • 2020-04-01 The BVI FSC has issued a Cease and Desist Order against BForex.
  • Hedging
  • Overnight interest rates (swaps)
  • Pending orders
  • One-click trading
  • Minimum account size $100
  • Minimum position size 0.025 lot
  • Spread type Fixed
  • Spread on EUR/USD, pips 3
  • Scalping Forbidden
  • Trading instruments
  • Forex 1:200
  • Gold & silver 1:200
  • CFD 1:200
  • Oil 1:200
  • Indexes 1:200
  • 2020-01-28 The French AMF has issued a warning about unauthorized forex brokers. BForex.com is on that list.
  • 2020-04-01 The BVI FSC has issued a Cease and Desist Order against BForex.

Reviews

7 reviews of bforex are presented here. All reviews represent only their author’s opinion, which is not necessarily based on the real facts.

i am not trading with bforex then also they are not returning my money anyone should try to caught them and bring to the court so that investor could get back there money and in futur they dont do the same

I opened account with Bforex by 2020, with about fouty thousand naira, and within weekend, my money was frozen. And luid me into investing another 90000. Ninty thausand naira with them this week. Please I need to witdraw my money from them. I don’t want to trade with them again.

bforex is a scam company. First of all if any customer checked all the emails and documents between him and the company he will notice that they never mentioned an account number. In addition they don’t let you withdraw any amount.They don’t reply to your emails or live chat. In addition to their platform where they use the frozen way when the market go up or down to not let you make any profit. They are totally a scam comapny and I opened a court case against them and i will go to the end to fight them and to make all the necessay contacts to taking them to the justice .

Total or complete scam do not waste ur tyme.

FXDailyReport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Broker Info Bonus Open Account
Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus Visit Broker
Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), CySEC
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. Visit Broker
Min Deposit: $5
Spread: From 0 Pips
Leverage: 500:1
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program Bonus Visit Broker
Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account Deposit Visit Broker
Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit Broker
Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonus Visit Broker
Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
Visit Broker
Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
Visit Broker
Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
Visit Broker
Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
Visit Broker
Min Deposit: $250
Spread: as low as 0.1 pips
Leverage: up to 400:1
Regulation: ASIC Australia and FCA UK
Visit Broker
Min Deposit: €100
Spread: The Spread can be as low as 0.01%” (0.01% = spread for EUR/USD)
Leverage: 1:294
Regulation: ASIC, CySEC, FCA (UK)
Visit Broker
Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
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Min Deposit: $100
Spread: Starting 0 Pip
Leverage: 500:1
Regulation: FCA UK, FSA (Seychelles), CySEC
Visit Broker

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Main Parameters to be Checked for Identifying the Best Forex Brokers:

#1: Regulations and Licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as Commodity Futures Trading Commission (CFTC), National Futures Association (NFA) and Financial Conduct Authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

#2: Forex Trading Platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: Customer Support Services

Customer support is a key aspect that you need to evaluate. Best Fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

#4: Leverage Options

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

#5: First Deposit Bonus

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: Deposits and Withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

#7: Trading Costs

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: Other Parameters for Identifying the Best Forex Brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the Forex market are the best forex brokers to work with.

Why Expert Traders Trade With Regulated Forex Brokers

If you’re looking to become a successful Forex trader, then working with a skilled and trustworthy broker is very crucial. in the Forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated Forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in Forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

  • CFTC and NFA: Commodity Futures Trading Commission and National Futures Association, regulate the financial services sector in United States of America (USA).
  • CySEC: The Cyprus Securities and Exchange Commission is the regulatory watchdog within the CySEC domain. It offers services to the EU member states.
  • FCA: The Financial Conduct Authority regulates the operations of over 56,000 financial services and companies in the UK.
  • ASIC: The Australian Securities and Investment Commission regulate the financial services sector in Australia.
  • FSB: The Financial Services Board is a South African agency which oversees functioning, regulation, and licensing of South African Forex brokers.
  • BaFin: BaFin is a financial supervisory authority providing its services to Forex companies in Germany.

Advantages of regulated Forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any Forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the Forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under CySEC are required to remit their contribution to the ICF (Investor Compensation Fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective Customer Service

Before choosing a Forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick Deposits and Withdrawals

Any reputable Forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated Trading Platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated Forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated Forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated Forex broker.

Understanding True ECN vs STP Broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding True ECN vs STP Broker

True ECN i.e. Electronic Communications Network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.e. Straight Through Processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General Overview of True ECN and STP Brokers

  • Use of Scalping Techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between True ECN and STP Brokers

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The Spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of Trading Forex with a True STP Broker

  • Cannot Bankrupt Themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

  • Negative Balance Protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of Choosing a True ECN Broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of Trading Forex with an STP Broker

  • Their rates and the interbank prices are same
  • They provide their clients low entry capital requirements

Cons of Choosing an STP Broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

The Bottom Line

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

bforex Review

Review

Bforex.com, founded in 2007, is a Forex broker, with offices in 18 locations including London, UK and Limassol, Cyprus. Bforex’s large mix of FX pairs, CFDs for stocks, indices, as well as gold, silver and oil, makes it a good all-around trading solution for traders worldwide who are interested in trading various and diverse markets. Bforex.com has won several awards for Forex trading in addition to derivatives trading in 2020 The same year, they were awarded the “Best FX Broker 2020” for Australia and Latin America.

bforex does not have a very transparent company structure and it is never clear exactly where the company is domiciled. In addition, certain information seems to be omitted from its site. Bforex’s website contains an address in the UK, accompanied by a disclaimer says that” BForex is not authorized with or regulated by the Financial Conduct Authority in the UK and is not permitted to carry on regulated activities as defined by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 in the UK.” When doing this bforex review, I was hard pressed to find any registration details mentioned on the website.

Accounts

There seems to be only one standard account for all traders but a demo account is also available for new traders wishing to practice before jumping into real trading.

Bforex offers its clients some of the most competitive spreads in the market, providing traders optimal trading conditions that will help them make a profit. It offers tight fixed spreads, a low margin of only 0.5% and leverage of up to 1:200. Accounts can be opened with as little as $200 and there are no additional hidden fees or commissions.

Features

Despite the missing information, there are many desirable features at bforex and both the novice and experienced Forex traders don’t seem to have a problem trading with them.

Traders signing up for an account at bforex can select to trade from over 45 currency pairs. Commodities such as oil and gold are also available as are CFDs. CFDs, or Contracts of Difference, are arrangements made in a futures contract whereby differences in settlement are made as cash payments in place of the delivery of physical goods or securities.

A unique feature at bforex is its “Forexperts,” a concept created by bforex in order to offer traders an opportunity to directly interact with the Forex Company. This bridge provides the users a point of contact whereby they can discuss Forex-related concerns and questions. Anyone signing up for an account at bforex is immediately assigned a personal forexpert who is available for assistance 24 hours a day 7 days a week. The forexpert becomes the trader’s personal account manager but more importantly, he/she is someone who can discuss trading concepts and strategies and personalize them at whatever level a trader is trading at.

Bonuses/Promotions

bforex offers a welcome bonus but the specifics of this program are only available by contacting a bforex agent. At the time of this review, a refer-a-friend promotion was also being offered, whereby traders receive 100% credit of up to $5000 if a ‘friend’ makes a deposit. For example, if a friend deposits $1000 the account holder will receive $1000.

Education

Through the bforex Academy, traders can participate in several instructional activities. A short video introduces the Forex Glossary A-Z, which is long and informative. The economic calendar lists economic events and indicators, including charts of each event and descriptions of how the event may affect the market which is an interesting supplement to economic calendars offered by most brokers. Webinars can be viewed live after completing online registration and archived webinars are available to all account holders at any time.

Forex Glossary in Video

There is plenty more to learn from bforex including textual lessons on a variety of subjects that would interest both new and advanced traders. Besides the basic concepts of Forex trading, some of the topics covered include trading tools and terms such as leverage, margin trading, lots and pips. Each topic is explained in detail and examples are given to further enhance the trader’s understanding.

Technical analysis and chart reading is another topic that is covered in detail on the bforex website. Since charts and graphs provide important information about the exchange rate, equity prices, debt and derivative instruments, they teach traders about market trends in general and how to observe signs of reversal or continuation of a trend. This helps traders make correct predictions about what is happening in the market.

Up-to-date technical and fundamental analysis appears daily on the site and the news is reported live via video from the landing page. As an added feature, Spanish traders can also take advantage of the bforex tutorials that are given on YouTube in Spanish.

Reliability

Bforex seems to cover all bases with its regulation, maintaining separate licenses from several of their different locations. They are regulated in Australia under ASIC. Banco Central del Uruguay is the regulatory agency for their office in Uruguay and in Romania it is CNVM. CYSEC regulates their Cyprus activities and is certainly the most well-known of their regulatory bodies.

Customer Support

Customer support is provided 24 hours a day from Sunday-Friday by phone and can be accessed from English, Arabic and Spanish numbers. Live chat, call back and email are also available.

Conclusion

There are many good qualities at bforex. Their educational offerings are diverse and provide vital information to both novice and experienced traders. The site is user-friendly and opening an account is quick and easy. The question of transparency is a somewhat of an issue but that doesn’t seem to detract from all their other features offered by bforex.

Features

The list of features offered by a broker is important for attracting and keeping Forex clients. The team at bforex goes out of its way to offer Forex traders all the necessary features needed for a seamless trading experience, including a host of educational tools such as videos in both English and Spanish, webinars both live and archived, online textual lessons and a full glossary with many financial terms that will benefit beginners and experienced traders alike.

Platforms

bforex offers investors advanced and innovative online trading systems and technology. Traders can select from two independent state-of-the-art trading platforms, both of which are easy to navigate. The choice is the innovative PROfit trading platform or the WebPROfit trading platform developed by the technical team at bforex. bforex has just added the MetaTrader4 platform to their lineup.

WebPROfit

The WebPROfit trading platform is a simple to use online platform which allows traders to make trades at anytime from anywhere they find themselves. This platform is based on cutting-edge trading technology which has been designed with the user in mind. It offers a real time graphic representation of the market movements and of your trades.

WebPROfit offers a host of trading tools, news feeds and support directly from the platform. Financial news is streamed directly to the platform and real time charts and analysis appear on the website. Both beginners and experienced traders can use this trading platform by easily adjusting its customizable features to their specific needs. WebPROfit is compatible with all major browsers, including Chrome, Firefox and Internet Explorer.

PROfit

The PROfit platform is unique to Bforex and is designed to suit the needs of experienced and new traders alike. Downloading the PROfit platform takes only a few minutes. Trading with PROfit gives beginner traders a sense of comfort and a variety of features.

bforex PROfit Platform

bforex’s also offers an iPhone application which gives traders access to the PROfit platform on their mobiles. Trading with their mobile applications works the same way as with the desktop platform and traders can receive live currency quotes, view graphs, edit their positions and even place trades. Having access to PROfit from a mobile phone and tablet is a definite convenience and is available to all account holders at bforex.

bforex Mobile Platform

MetaTrader 4

bforex has recently started offering the MetaTrader 4 platform, one of the most popular trading platforms used by Forex brokers throughout the industry.

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

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