BForex Review

MIN. DEPOSIT $200
Up to 200:1
Up to $10,000 BONUS
0 Users (0 votes)
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Services0
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BForex
Up to $10,000
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Overview

Company Information Bforex is one of the largest online trading brokers in the world with countless users in almost every continent. The company was founded in 2007, and their headquarters… more

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Details

BrokerBForex
Website URLhttp://www.bforex.com/
Founded2012
HeadquartersLondon, United Kingdom
Support Number+44 203 514 0458
Support Emailcustomer.service@bforex.com
Support TypesPhone, Live Chat, E-mail, Call Back
LanguagesEnglish, Arabic, French, Hindi, Russian, Spanish, Turkish
Minimum 1st Deposit$200
Minimum Trade Amount0,5%
BonusUp to $10,000
PayoutUp to 200:1
Free Demo AccountYes
Deposit MethodsCredit Card, Bank Transfer, Skrill, Neteller, OKPAY, CashU, Sofort, Qiwi, VoguePay, FilsPay, RBK Money, PaySafeCard
Withdrawal MethodsCredit Card, Bank Transfer, Skrill, Neteller, OKPAY, CashU, Sofort, Qiwi, VoguePay, FilsPay, RBK Money, PaySafeCard
Types of AssetsCommodities, Forex
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Bforex is one of the largest online trading brokers in the world with countless users in almost every continent. The company was founded in 2007, and their headquarters are located in London, UK. They also have an office in over 15 countries including Limassol, Cyprus. As a relevantly new company in the forex trading game, Bforex quickly developed a platform that was recognized by many clients. In 2010, they received “The Best FX Broker” and “Best Financial Derivative Trading Provider 2010″ for Australia and Latin America. This is a huge recognition for such a young platform which managed to earn such an award that quickly. Their main objective is to expand further and earn more satisfied clients who use the platform daily. There are many negative forum posts and reviews about the broker circling the internet. But are they true? You’ll find the answers to these questions below.

 

Trading Information

Bforex offers leverage for up to 1:200. Spreads are set to 3pips on EUR/USD. The company offers a unique feature of STOP and LIMIT options under all market conditions. It’s something that even bigger names in the industry don’t have on their sites. Offered trading instruments are Forex, Gold, and Silver, CFD, Oil and indexes (all for up to 1:200). The number of currency pairs is 45, 17 of which are exotic. All in all, it’s a pretty standard trading platform that offers some unrivaled features (according to their about us page). There isn’t much more to mention here let see what trading platforms they use.

 

Trading Platforms

The platforms that Bforex uses are called PROfit and Web-Profit Trading (MT4). They are not the most famous ones but according to Bforex, you’ll get “state-of-the-art, innovative and easy to use trading platforms”. As far as “easy to use” is concerned Bforex got that right. The platform is very customizable, and layouts are easy to set. Even a beginner in the world of trading would understand easily what it’s all about. There is a ton of information and guides provided for all users that want to start trading right away. You have the option of hedging, one-click-trading, pending orders and swaps. Now, if you’re an experienced trader, there are some features that would be missed. The design is not top notch, and there are many prettier and more customizable platforms out there. You won’t be too disappointed, but there is a lot more to be added and developed in this trading platform.

 

Security and Customer Services

As we already mentioned in our intro there are many customers disappointed with Bforex’s customer service department. Not only that, but they even accuse the online trader for scamming them with funds and bonuses. Now, I didn’t have any problems with the customer service or the platform but the numerous complaints have to be taken into account. What the trader is certainly lacking is the SSL protocol that protects personal data. It’s something that most of the traders have already implemented as a security measure and it’s quite surprising that Bforex doesn’t have it. There were even mentions that the site is recognized as a malicious one by most of the anti-virus and anti-trojan programs. This should definitely be addressed by the company if they want to keep their users happy. As far as customer support is concerned Bforex brags about their “24/7 customer support” feature. It’s clearly visible in their platform at the top right corner. Live chat option is available for people who like to ask questions directly.

 

Deposits and Withdraws

Depositing money into your Bforex account is made easy. You can use almost every major banking method available and there are no fees. The minimum deposit is set to $100, and minimum lot size is $0.1. There is nothing complicated in depositing the funds. As far as withdrawals are concerned things get a lot trickier. There is a “document” regulation that is pretty annoying. You will have to send all the needed documentation by postal mail and it has to be approved by a company’s representative. It is very troublesome for people who don’t have the time to deal with such formalities. Also, the company’s representative can deny withdrawals if they are suspicious of even one of the documents sent. You can clearly see how this can be interpreted as a scam scheme. The tons of reviews and comments on this can be easily found on “Google” and many users are very disappointed that they couldn’t withdraw any fund from their accounts. It could be the a case of miscommunication between the trader and the users, but it is still a big minus for the platform.

 

Deposit Bonus and Loyalty Programs

Current bonuses for the Bforex platforms are the “Welcome Bonus” and the “Refer-a-friend” bonus. It’s not very clear what the “Welcome bonus” is about, but it does state on their site that it could be for up to $10 000. Nothing else is mentioned in their terms and conditions page except the “generating 5000 times the volume of the net deposit” bonus condition.  The “Refer-a-friend” bonus is much clearer. If a friend of yours (that you referred) makes a deposit, you’ll get 50% for up to $1000 bonus credit. This is not bad but certainly not the best of offers we’ve seen.

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