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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: 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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Author of BFSforex: Josita | Date 2018-04-10
My advice to all forex traders is to stay away from BFSforex broker because they are not reliable broker any more. Their execution of order is very bad 5-8 times requote when you try to execute. Now a days they are making negative false slippage my trades are profitable. Last week I placed two order for EUR/GBP and USD/CHF on Feb meting time and I got slippage 36pips 58 pips slippage respectively. The slippage on EUR/GBP is totally unexpected. I can tell everyone to look for a better broker not stay with this cheap bucket shop.
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Author of BFSforex: pipmelampiaskan | Date 2018-02-20
I interest and want to try trading in BFSforex because they are offers one of the lowest spreads in the market, about 1.5 pips. trading with them since January, I think they are competitive, and the trading execution seems to be fast. In my first until forth trading, I got about $50 to $75 profit and the process is fast despite there are some difficulty of request withdrawal or difficulty logging after the deposit. But their technical support fix it immediately. In the end of january I increase my capital and start using other trading instruments, but I lost because trading platform started to freeze during profitable trading session. Last week, I sent them an complaint email, but I didn’t receive the answer till today. I can't believe them anymore, I think. They are unprofessional and irresponsible.
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Author of BFSforex: Domnikpip | Date 2017-12-05
I have a standard account for a couple of months with BFSForex and I will close it soon because their platform has delays in execution using time frames M15/M30, and for M5 time frame, the platform crashes. I started with a Standard account and a deposit of 100$. After the first month I made a profit of 150$, and the second month the problems with the platform started. The support team said they replaced the server and that is why but still they can't fix the bugs. I traded usual currency pairs EUR/USD, USD/CAD, GBP/USD, USD/JPY. I requested to withdraw the rest of my funds and I will close my account.
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Author of BFSforex: Junji | Date 2017-10-26
Very much an entry level broker, ideal for the discerning noob who is just starting out. But for trading serious money I'd look elsewhere. Last week, I've got such price movement at least 3 times on live trading and ended up with stop losses. My stop loss with pair eur/usd was at 1.1122 and yet I got closed out for a loss when price never reached that point. Yes, it got extremely close, within 1 pip, but that's not 1.1122. Of course the market dropped immediately after that and I lost about $50 in profit. Then i see on 2 of my trades that the stop loss had been reached, yet the trade was still open, both of those stop losses had been canceled by their software. Luckily i caught this before it became a large loss. Within three weeks now I am at -34%. You can make your own opinion on the timing, but in my opinion the timing was too conspicuous. If you are on the fence on whether or not to use them as a broker, I wouldn't recommend it.
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Author of BFSforex: Beam | Date 2017-10-04
Weak broker offering poor services, I'm very disappointed with BFSforex. Platform is very slow and I've been experience slippages of more than 25 pips. I've been losing a lot of money. I already made several complaints to support about this issue, but they keep saying it's normal. It makes me feel sad and not comfortable trading with BFSforex. I'm waiting the funds of my withdrawal (I'm waiting for it for more than 3 weeks) and surely I will close my account. I do not recommend BFSforex to anyone.
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