BTFX Review

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Company Information BTFX is a professional online broker from Malta. Owners of the platform are Brokersclub Limited, and they started their operations in 2011. The platform started its online journey… more

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Website URL
Support Number(+356) 2713 7467
Support TypesPhone, Live Chat, E-mail, Contact Form
Minimum 1st DepositNo
Minimum Trade Amount0.01 lots
Free Demo AccountYes
Regulated Yes
Account TypesStandard, Joint
Deposit MethodsPayPal, Visa, MasterCard, Neteller, American Express, MoneyGram, PaySafeCard, Clickandbuy
Withdrawal MethodsPayPal, Visa, MasterCard, Neteller, American Express, MoneyGram, PaySafeCard, Clickandbuy
Types of AssetsForex, Commodities, Indices
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

BTFX is a professional online broker from Malta. Owners of the platform are Brokersclub Limited, and they started their operations in 2011. The platform started its online journey in 2014 and can be considered as one of the new names in the industry. Despite the fact that it hasn’t been in the trading industry for a long time Brokers Club Forex trading is already regulated by the FSA (Malta) and operates under the authority of MiFID (EU). Like many of their competitors, BTFX doesn’t allow US traders on the platform. Otherwise, all clients from all over the world are accepted. As a new company, BTFX tries its best to earn new clients by offering excellent bonuses and many trading contents. With very tight spreads and most of the trading, instruments offered this company is a sure win for all traders that join it.

Trading Information

To stay competitive in the online Forex trading industry, BTFX offers over 40 currency pairs 10 of which are exotic. Other trading instruments for the platform are CFD’s, metals, oil, precious metals, stocks, commodities and indices. Leverages for Forex and CFD’s are set to 1:200. As far as trading accounts are concerned there is only one Standard option. The minimum deposit to start trading is $250, and minimum lot size is 0.05 lots. Spreads are variable and can go as low as 0.04 pips for majors like EUR/USD (typical spread is 0.4 ). Traders will be happy to learn that scalping and hedging are allowed. Also, they can take advantage of the Expert Advisor option. Pending orders, one-click trading, trailing stop order, mobile trading and swaps are also available. Traders who are interested in an “Automated trading” feature will not be disappointed as it is supported. There is also a VIP trader feature where major clients can benefit from tighter spreads and fewer commission charges. Margin call level is 150%, and the stop-out level is 75%. In general, BTFX offers all the trading options that a nowadays trader needs.

Trading Platforms

Like many online brokers, BTFX has chosen the Metatrader 4 as their main trading platform. It’s stable, safe and full of customizations. Throughout the years, it has proven its worth and is a preferred platform for many beginner and expert traders. It’s easy to download and install it of your desktop or laptop computer and works for both Windows and Mac. For traders who look to use the platform while away from their personal computers, there is a WebTrader platform. It is a very handy option as it doesn’t require additional installation or download. You can use it from any computer around the world as long as it has an internet connection. The mobile variant of the MT4 can be installed on every portable device (Android, Apple) and gives you the flexibility to use it while traveling. Last but not least BTFX offer a Multi-terminal platform where clients can manage more than one account at once. It is useful for expert traders that want to have the option of operating from multiple accounts and stay in touch with their trading instruments at all times.

Security and Customer Services

BTFX have realized that security of the utmost importance nowadays and offered an SSL encryption of their site. What this means is that your personal data is protected at all times and is only known by company representatives. Also, they offer a segregated account where your funds are separated from the company’s and deposited in top tier banks. Customer support is excellent with many ways to contact the company’s representatives. You can get in touch with by phone, email, live chat, request a callback or fill out their online form. While the site has only an English version, support languages are English, German and Spanish. It’s a bit surprising that unlike most of their competitors they don’t have a 24/5 customer support service, but you can still contact them five days of the week during working hours. Response times are quick going from instant to a couple of hours to get an answer to your questions. There is a very thorough FAQ section on the site which worth checking out before you contact the customer support. Tools like Forex news are present and the Economic Calendar is also a very nice addition.

Deposits and Withdraws

To fund your BTFX account, you can use one of the many banking methods that BTFX provides. Credit and debit cards are accepted with bank wire also available. Digital wallets are also supported and often are the quickest and safest deposit methods. There are no deposit fees, and you can fund the account using most of the major currencies. As already mentioned the minimum deposit is $250 and for their ECN option, it’s $2500. Withdrawing money is also made easy, and you can pretty much use the same method you deposited them. There are no mentioned withdrawal fees on their site, but there might be some processing fees for people who withdraw funds too often. Processing times are quick, and usually, it will take up to 10 business days to receive your funds. If there are problems with your withdrawal, you can always visit their FAQ page and see how to resolve them.

Deposit Bonus and Loyalty Programs

To gain more clients BTFX have very tempting bonus offers and referral programs. There is $100 bonus for every deposit of $1000 and over. There are also tons of contests and events held regularly that can keep your entertained and also give you some benefits like “reduced commission to 20 cents per traded Mini lot”. These offers change often, and you will have to visit their “Events” page to check out their current offers. All in all, BTFX is a reputable broker with great spreads and offers.

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