BelforFX Review

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Company Information Belfor FX is a New Zealand online trading broker property of Belfor Capital LTD. The company was founded in 2012 and can be considered as one of the… more

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Website URL
HeadquartersLondon, United Kingdom
Support Number1-888-910-1008
Support TypesPhone, Live Chat, E-mail, Social Media
LanguagesEnglish, Spanish
Minimum 1st Deposit$100
Minimum Trade Amount0.01 lots
BonusUp to 150%
PayoutUp to 400:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Supervision Commission of Bulgaria
Account TypesStandard, Gold, Platinum, ECN, Islamic, Managed, Savings
Deposit MethodsVisa, MasterCard, Maestro, American Express, Diners Club, Neteller, Wire Transfer, Skrill, cashU
Withdrawal MethodsVisa, MasterCard, Maestro, American Express, Diners Club, Neteller, Wire Transfer, Skrill, cashU
Types of AssetsForex, Commodities, Indices, Metals
Account CurrencyUSD
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Belfor FX is a New Zealand online trading broker property of Belfor Capital LTD. The company was founded in 2012 and can be considered as one of the new names in the industry. They are regulated by the financial authorities (FSP) in New Zealand and the MiFiD in EU. They accept clients from all over the world. Belfor FX is one of the many Forex brokers that don’t accept traders from the US. As the company grows, they’re opening new offices around the world with the newest being the one in London, UK and Sofia, Bulgaria. Belfor FX has a simple strategy: to offer great user experience and excellent customer support. To stay competitive, they offer some unique trading benefits and many features. With a lot of useful information on their site and the option of a demo account, this company is aiming at the top of the Forex trading industry. Let’s see what they have to offer.


Trading Information

For a new company BelforFX has some interesting trading options and instruments. Main trading instruments are Forex, CFD’s, commodities, energies, indices, stocks and precious metals. They have three types of accounts: Standard, Gold and Platinum. The minimum deposit for a standard account is $100; the Gold account will cost you a $2500 deposit, and the Platinum is $150 000. They also offer the options of a PAMM/MAM/LAMM account. Minimum trade lot size is set to 0,01. Spread type is “Fixed” with three pips for majors like EUR/USD. Maximum leverage for all types of instruments is 1:400 which is standard for the industry. It’s very nice to see that scalping and hedging are allowed here. Features like pending orders, trailing stops, one-click trading and automated trading are available. Mobile trading and trading by telephone is also possible which makes it very easy for traders. There is a total of 49 currency pairs available which is not much but still a respectable amount. The feature of having an expert advisor is also available and is something to be considered when choosing BelforFX as your main trading broker. As far as trading instruments and features are concerned, BelforFX offers everything that a modern trader needs.


Trading Platforms

For a trading platform, BelforFX has chosen the safest and comprehensive platform of them all, the Metatrader4. It offers many analysis tools, charts and features that are still used by millions of traders all over the world. You don’t need to be an expert to use it, and there are a ton of guides available on the Internet. You can program your scripts and indicators that can help you immensely in your daily trading. Maybe the only con for this platform is the need for downloads and installation. There is no web trading platform here so you will have to install it on your laptop or desktop computer. For people who are away from their computers, there are the mobile versions of the MT4 available for download. They work for both Apple and Android tablets and mobile phones and are very easy to use. There’s not much more to be said about the BelforFX platforms; their software is already tested and future proof.

Security and Customer Services

BelforFX knows that without a stellar customer support service they have no chance of gaining on their competitors. That’s why they have done their best to improve the customer experience by offering excellent support. Their site offers a secure SSL encryption which protects your personal data. Also, they offer the segregated account option where your funds are deposited in top tier banks. The website is translated into 5 languages, and there is support 4 of them (English, German, Spanish and French). To contact the company’s representatives, you can use one of four contact methods: Skype, email, phone or filling their online form. Support service hours are 24/5, and you can alternatively try and contact them through their social media profiles in Linkedin, Facebook, Twitter and Google Plus. One thing that stands out for this broker is their educational program. There are a lot of videos and technical analysis that can help every beginner trader in their quest for learning the basics of online trading. Even expert traders can learn a thing or two from these trading manuals.


Deposits and Withdraws

Depositing money into your trading account is made easy, and there are plenty of banking methods you can choose. Starting with the standard credit/debit cards and bank wire, and going to more modern banking methods as digital wallets (like PayPal). As already mentioned, there is $100 minimum deposit requirement. There are no deposit fees mentioned on their site and as far as we know there aren’t charged by the company (your bank, however, might charge you for the transaction). Payouts are quick and usually happen in 48 hours. Withdrawing money is also easy and can be made using the deposit method. There is a $40 processing fee mentioned, but amounts may vary depending on the withdrawal method.


Deposit Bonus and Loyalty Programs

To boost their popularity amongst traders BelforFX has an excellent 100% deposit bonus offer. There isn’t an actual amount mentioned on their site, but sources say it’s up to $500 which is very nice as a starting bonus. Existing clients can take advantage of competing in the various trading contest and winning excellent prices. All in all, BelforFX has a lot of attractive features and offers. It’s easy to say that we’re going to keep an eye on them and see how they develop in the future.

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