About the company:
BNFX is a forex and CFD brokerage, offering online trading on two reliable platforms with STP/ECN execution.
Company. Security of Funds
Bestec Networks Foreign Exchange was established back in 2010. The brand is owned and operated by BNFX Capital Limited, a company that used to be licensed in New Zealand; however, it was deregistered from NZ FSPR in September, 2012 and currently it is not regulated by any authority.
Investing in an unregulated broker is risky and we generally advise traders to stay away from such companies and to choose among companies licensed by reputable regulators.
Clients of BNFX are offered a choice of 3 account types, two STP and one ECN. All of them offer variable spreads and micro lots with a leverage of up to 1:100 on two trading platforms - MetaTrader 4 and xStation.
The best spreads are, of course, available on the ECN account: averaged 0.4 pips on EUR/USD. If we add the commission of $8 per standard lot, trading costs amount to around 1.2 pips per lot, which is an attractive offer. The problem is that in order to get theses ECN spreads, you have to deposit at least $1,000 with a non-regulated broker, and this carries certain risks since if the broker goes bankrupt, the traders will not be refunded.
As we have already mentioned, BNFX supports MetaTrader 4, as well as xStation, developed by XOpen Hub.
xStation is an intuitive multi-functional software that features one-click trading and the ability to deal straight from the chart. The platform is equipped with various technical analysis tools and advanced charting package.
MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting tools and offers trading automatization options with the most commonly used trading robots (EAs), as well as with options to create new ones.
The support service is available only via feedback form.
Payment methods include only bank wire transfer and credit/debit cards.
Popular e-wallets such as Skrill, Neteller, or PayPal are not available with this broker.
BNFX 2/10 (votes 2186)