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BFSforex review

BFSforex


On-line since: 2013
Country of origin: -
Regulation: Financial Services Commission of the Republic of Mauritius
Payment options: BFSforex Trading Office, Visa, MasterCard, wire transfer, China UnionPay, credit cards, Perfect Money
Minimum account size: $5
Minimum lot size: 0.01 lots
Leverage: 1:1000
Spreads: from 1.5 pips

About the company:

BFSforex is a brokerage company providing online services for trading in the foreign exchange market. The broker’s clients reside in more than 10 countries all over the world; most of them are from Asia and the United States.

The company facilitates trading in various financial instruments through its own customized BFSforex MT4 platform that guarantees fast order execution and low interbank spreads. Apart from four live trading accounts, forex newbies are offered an opportunity to practice their skills on demo accounts. Any client of BFSforex can choose an account that suits them best. It may either be a micro account (with the minimum deposit of $5), a standard account ($10), a premium account ($10,000), and an STP/ECN account ($10,000). Moreover, the broker also provides special discount accounts which function in the following way: the discounted amount is immediately returned to the account holder after the latter deposits $10,000 into it. The 20% discount means that the broker returns $8,000 to the trader. You can receive $8,000 back if you choose the 30% discount or $6,000 with the 40% discount. The clients who opened an account with a discount of 60% and deposited $10,000 can receive $4,000 back on their bank cards.

On its website, the company also offers a number of attractive promotions and campaigns.

BFSforex 6/10 (votes 2682)
Author of BFSforex: Edwina | Date 2021-06-09
BFSforex is an amazing broker! This was recommended by my colleague and although she has been saying good things about the company, I was still surprised with how favorable their services are to their clients. Throughout my trading experience, I never encountered any difficulty and if there are some issues, the customer support team is very easy to contact.
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Author of BFSforex: Kadarius | Date 2020-11-11
I have knowledge about trading in forex market, but I didn't have enough money to start. My co-workers recommend using this broker. Because this broker has the criteria I mean. After 1 month of trying to trade, I got $35 with their minimum deposit I gave was $5. It is great for beginners to start off.
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Author of BFSforex: Junhao | Date 2020-07-10
I've had problems since I first traded with BFS Forex. I just followed their regulations correctly, but they blamed my connection. They also could not find a solution to my problem. It's enough that I lost $1000, which is my first deposit. This broker is not very good for beginners.
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Author of BFSforex: Risda | Date 2020-04-07
Spread for the account is not fixed because it will widen at the morning which make my take profit not triggered because of this problem. Platform sometimes will give me headache during trading activity because of their execution speed that slow to take the orders. My problem happened when I wanted to withdraw $700. At that time, I couldn’t get money because of the error of server, so I waited 2 weeks. However, the money hasn’t come to my account yet, so I contacted to their customer service, but they suggested me to wait. Then, no reaction at all from them.
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Author of BFSforex: Rino | Date 2020-01-02
Until now I have no benefit. I even traded with this broker for 7 months. I have added my deposit of $ 2500 while I was trading with them. But there are no satisfactory results. I have decided not to continue. Yesterday was my last trade. I don't want to waste more time and money. My advice is stay away or you will see bigger loss in your account.
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Author of BFSforex: Ade_Tria | Date 2019-09-27
I started with BFS Forex to test their services. I opened a live account deposited $300 through Visa and they credited only $510 they deducted $90 as a transfer fee. After that when I stared trading I notice that their trading system also worst. Always requote and requote, too difficult to make a trade. End of the last months I saw 63 pips slippage on USD/CHF. Until now, my balance is $360 because of their worst trading platform. I do not make any withdrawal yet but now I am very worried about it. I am looking for the other broker.
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Author of BFSforex: Uipas | Date 2019-08-21
BFSforex is worse broker in the forex. They boost spread and got hit SL by ask price. They did that because they are trading fully against client trade. On 12 August I had pending Orders set for the Fed meeting They have manipulated the spread a minute before the event happened and triggered my buy stop causing me to lose money. Avoid this broker if you value your money!
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Author of BFSforex: Searle | Date 2019-07-03
I didn't open an account at BFS Forex because I have read a lot of negative feedback on this broker all over the internet especially in the forums. I was able to try their demo account at least but my experience wasn't that great as well. I experienced a lot of slippages and the platform often froze. I later found out as well that this broker lost its license in Mauritius and this should already be a red flag to avoid this broker.
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Author of BFSforex: Iekzra | Date 2019-03-25
I have been using BFSforex platform for a short time. It is the worst I've ever tried. On last Monday night, I placed a BUY order on GBP/USD pair and it was profitable. I closed my PC and next morning when opened my account and found my order turned to Sell order with lots of negatives and I lost $265. When I complained they simply said that they are not responsible for anything even if they caused the problem. This is unacceptable.
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Author of BFSforex: Shinang | Date 2018-10-18
Six months into trading with BFS Forex and my experience is pretty average. The platform is nice. Easy to use, rarely lags, and not instant but still fast execution (3-5 seconds). Customer support is responsive and polite. When I have problems in the server, they quickly reply and fix the problem. I have never talked with a rude one yet. All are polite. But the spread is high at 2 pips and above compared with other brokers. And the withdrawal process takes 5-7 business day which is slower than what they claim. As of now, I was able to withdraw $250 just to try their withdrawal. So there, this is a decent broker but not the best.
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