Score
BFS
Hong Kong|10-15 years| https://www.bfsforex.com/en
Website
Rating Index
Contact
Licenses
Licensed Institution：BFS GROUP LIMITED
License No.：300334
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Hong Kong
10-15 years Suspicious Regulatory License Suspicious Scope of Business Vanuatu Retail Forex License Revoked High potential riskUsers who viewed BFS also viewed..
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Website
Most visited countries/areas
Hong Kong
bfsforex.com
Server Location
Hong Kong
Most visited countries/areas
Website Domain Name
bfsforex.com
ICP registration
晋ICP备17011536号-3
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
0001-01-01
Server IP
205.252.220.22
Company Summary
Note: At present, the official website of BFS (https://www.bfsforex.com/en) is not operational, making it challenging to obtain direct information from the broker. Consequently, we have relied on internet sources to gather available information about BFS in order to provide an overview of this broker.
| BFS Review Summary | |
| Founded | 5-10 years |
| Registered Country/Region | Hong Kong |
| Regulation | VFSC (Revoked), NFA (Unauthorized) |
| Market Instruments | Currency pairs, futures, CFDs |
| Demo Account | Unavailable |
| Leverage | 1:1000 |
| EUR/USD Spread | 2 pips |
| Trading Platforms | MT4 |
| Minimum Deposit | $5 |
| Customer Support | Phone, email, QQ |
What is BFS？
BFS offers a diverse range of trading instruments across multiple asset classes. They provide clients with four distinct account types tailored to suit different trading preferences and investment levels. With a maximum leverage of 1:1000, BFS aims to provide traders with ample opportunities to capitalize on market movements.
However, it is important to note that the regulatory status of BFS is currently abnormal. Furthermore, it is worth mentioning that the official website of BFS is currently inaccessible, raising concerns that the trading platform may have absconded.
In the upcoming article, we will examine and present you with concise and well-structured information about this broker, covering various aspects. If you are interested, please continue reading. To wrap up the article, we will provide a brief conclusion that will give you a quick overview of the brokers characteristics.
Pros & Cons
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BFS Alternative Brokers
For the specific requirements and preferences of traders, there are numerous alternative brokers to BFS available. Here are a few well-known choices:
Interstellar FX - A trading platform that utilizes advanced technology to provide traders with a seamless trading experience while offering a diverse selection of financial instruments.
VPFX - An online forex broker that caters to traders globally, offering a wide array of services to meet their trading needs.
eToro - A popular social trading platform that allows traders to follow and copy the trades of other successful traders.
Is BFS Safe or Scam？
Vanuatu VFSC (license number: 300334) - The regulatory status is abnormal, and the official regulatory status has been revoked.
United States NFA (license number: 0520533) - The regulatory status is abnormal, and the official regulatory status is unauthorized. Traders should exercise caution due to the risks involved.
BFS currently lacks valid regulation, meaning that there is no oversight from government or financial authorities concerning their operations. Additionally, the inaccessibility of their official website suggests that the trading platform may have disappeared. These factors heighten the risks associated with investing with BFS.
If you are considering investing with BFS, it is crucial to thoroughly research the broker and carefully assess the potential risks and rewards before making any decisions. In general, it is advisable to opt for well-regulated brokers to ensure the safety and protection of your funds.
Market Instruments
BFS offers a diverse range of trading instruments across various asset classes. These instruments include currency pairs, allowing users to trade different combinations of global currencies. Additionally, BFS provides trading opportunities in precious metals like gold and silver, allowing users to speculate on their price movements.
Furthermore, BFS offers futures contracts, which enable traders to speculate on the future price of commodities, indices, or currencies. This can involve agreements to buy or sell these assets at a predetermined price and date.
Moreover, BFS provides access to Contracts for Difference (CFDs), which allow traders to speculate on the price movements of various financial instruments without owning the underlying assets. CFDs provide a flexible trading option for various asset classes, including stocks, indices, commodities, and currencies.
Account Types
BFS Forex provides clients with four distinct account types designed to suit different trading preferences and investment levels. These account types include the Micro account, the Standard account, the Premium account, and the STP account.
| Account Type | Minimum Deposit | Target Audience |
| Micro Account | $5 | Beginner / Small deposit traders |
| Standard Account | $100 | Novice and experienced traders |
| Premium Account | $10,000 | Experienced / High-capacity traders |
| STP Account | $10,000 | Traders seeking STP execution |
Leverage
BFS provides a maximum leverage of 1:1000, which allows traders to control larger positions in the market with a smaller initial investment. Leverage essentially amplifies both potential profits and losses. It enables traders to potentially generate higher returns on their investments, as even small market movements can result in significant gains. However, it is essential to recognize that high leverage also comes with increased risk.
Trading with high leverage means that even a slight adverse price movement can lead to substantial losses. Therefore, it is crucial for traders to exercise caution when using leverage and assess their risk tolerance and financial stability before deciding on the appropriate leverage ratio to utilize.
Spreads & Commissions
BFS Forex offers different types of accounts with varying spreads and commissions to suit the needs of different traders. Besides, due to the unavailable website, there is no access to find out the commission ofBFS.
| Account Type | Spreads | Commissions |
| Micro | Average spreads starting from 2 pips | N/A |
| Standard | ||
| Premium | ||
| STP |
Trading Platforms
BFS offers its clients the popular MT4 platform, which is highly regarded and widely utilized in the forex industry. This platform provides a comprehensive set of features and tools that cater to the requirements of both novice and seasoned traders.
The MT4 platform is celebrated for its user-friendly interface, simplifying trade execution and navigation for traders. With this platform, traders gain access to a diverse selection of trading instruments, encompassing forex pairs, commodities, indices, and other assets. This enables traders to conveniently access various markets from a single platform.
Deposits & Withdrawals
BFS provides multiple options for depositing and withdrawing funds, catering to the diverse needs of its clients. Clients can choose from various methods, including bank transfers, credit/debit cards, Perfect Money, and China UnionPay.
Bank transfers are a common and convenient method for depositing and withdrawing funds. Clients can initiate transfers from their bank accounts to their BFS trading accounts or vice versa.
Credit and debit cards are widely used by traders for their convenience and accessibility. BFS accepts deposits and withdrawals made via credit or debit cards, allowing clients to fund their accounts or withdraw funds directly from their card-linked accounts.
Perfect Money is a popular online payment system that enables users to make secure transactions globally.
China UnionPay is a major payment card issuer and operator in China, and BFS accepts deposits and withdrawals through this platform. With China UnionPay, clients in China can conveniently fund their trading accounts or withdraw funds directly through their UnionPay-linked bank accounts.
User Exposure on WikiFX
On our website, you will find instances where traders have reported difficulties in withdrawing funds and encountering scams. It is strongly advised that traders thoroughly evaluate the provided information and take into account the risks associated with trading on an unregulated platform. Before engaging in any trading activities, it is recommended to visit our platform to gather relevant information.
If you come across any fraudulent brokers or have personally experienced any such incidents, we encourage you to inform us through the Exposure section. Your cooperation is greatly appreciated, and our team of experts will make every effort to address the issue and assist you in resolving the problem.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +60 3 2164 6989
496980921538
QQ: 800037948
Email: sales@BFSforex.com
marketing@bfsforexpro.com
Conclusion
In conclusion, BFS, a forex trading platform, currently faces irregular regulatory status. The official regulatory authorities, such as VFSC and NFA, have either revoked their regulation or deemed it unauthorized. This lack of valid regulation raises concerns about the oversight and accountability of BFS' operations.
Additionally, the inaccessibility of BFS' official website and reports of issues regarding fund withdrawals and potential scams further highlight the risks associated with this platform.
It is strongly advised to seek alternative platforms with robust regulatory oversight and a proven track record in order to ensure the security and reliability of your investments in the forex market.
Frequently Asked Questions (FAQs)
| Q 1: | Is BFS regulated？ |
| A 1: | No. The broker currently has no valid regulation. |
| Q 2: | How can I contact the customer support team at BFS？ |
| A 2: | You can contact via phone, +60 3 2164 6989 and 496980921538, QQ, 800037948 and email, sales@BFSforex.com and marketing@bfsforexpro.com. |
| Q 3: | Does BFS offer demo accounts？ |
| A 3: | No. |
| Q 4: | Does BFS offer the industry leading MT4 & MT5？ |
| A 4: | Yes. BFS supports MT4. |
| Q 5: | What is the minimum deposit for BFS？ |
| A 5: | The minimum deposit to open an account is $5. |
| Q 6: | Is BFS a good broker for beginners？ |
| A 6: | No. It is not a good choice for beginners because of its unregulated condition and its negative reviews. |
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Keywords
- 10-15 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Vanuatu Retail Forex License Revoked
- High potential risk
Review 66
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影37459
Hong Kong
For the first time withdrawing money, I said that ICBC’s system was maintaining and replacing the account, and that the account was incorrectly frozen, and it was necessary to add nearly 35,000 to unfreeze and complete a large amount of transactions before the withdrawal could be made.
Exposure
2021-04-03
峰1808864698
Hong Kong
It is simply a fraud platform which would induce you to deposit fund by every means. After you do so, your fund is doomed. Through mock operation, it would prove that you made the loss yourself. If you continue to argue, it would block you. Yesterday, it posted a new platform. I have quit it. Hope you be wisely.
Exposure
2020-06-11
FX5449181040
Hong Kong
BFS withdrew my money privately without my knowledge. Stay away from this scam platform.
Exposure
2019-09-30
海阔天空3766
Hong Kong
BFS has absconded with its website collapsed.What about my money?Who should I reported it to?Screw you bloody fraudsters.How dare you claim to own millions of clients?
Exposure
2019-09-12
小密斯
Hong Kong
BFS is out of contact and its website is disabled.Who can contact it?It’s a fraud platform.
Exposure
2019-08-30
等待苍老了谁
Hong Kong
The withdrawal was unavailable,with its customer service all out of contact.
Exposure
2019-08-28
暴走小正太
Hong Kong
On 14th, August,all customer service were out of contact,with withdrawal inaccessible.One week later,the MT4 server was abnormal.It seemed that the contract was expired.Hope relevant department see to that mater and give us a reply.
Exposure
2019-08-28
FX3941093759
Hong Kong
BFS said its Beijing office was in the guomao building in chaoyang district.The agent of BFS cheated customers of large amounts of money,which belonged to pyramid sale and should be laid emphasis on.
Exposure
2019-08-26
一线天
Hong Kong
My trading account number in BFS was 542763.The MT4 was disabled these days.Customer managers and 24-hour QQ customer service was out of contact.The withdrawal was unavailable.
Exposure
2019-08-26
星梦情真90663
Hong Kong
The MT4 was disabled.There also was no access to customer service and withdrawal.The platform has run away.Where can I get back my 40 thousand yuan?
Exposure
2019-08-25
FX2132634734
Hong Kong
The MT4 was disabled.I failed to close position and the withdrawal was unavailable.The customer manager and customer service was out of contact.
Exposure
2019-08-25
焦点61901
Hong Kong
I couldn’t log into BFS platform through computer or mobile phone,thus I failed to trade.All withdrawals were unavailable.Hope related departments regulate this matter.
Exposure
2019-08-23
会当凌绝顶，一览众山小
Hong Kong
BFS platform run its business without illegal license and induced clients to deposit money by rebating fund.Now it has run away.You investors should raise your vigilance.
Exposure
2019-08-23
尾戒丶
Hong Kong
The server of BFS was disabled.The customer service were all out of contact,The withdrawal was unavailable and the platform seemed to have run away.Hope relevant department see to this matter!
Exposure
2019-08-23
海阔天空3766
Hong Kong
What happened to BFS?The platform was disabled.Both the customer service and the customer manager were out of contact.Did they run away?What about our hard-earned money?
Exposure
2019-08-23
焦点61901
Hong Kong
It’s been several days that I cannot log in BFS. I cannot trade and have lost the contact with the service. Are they all dead? Screw this bloody platform! What about my money in it? Some related departments should see to this matter!
Exposure
2019-08-22
◕ ̯͡◕告别迷茫
Hong Kong
Now the customer service can't be contacted. Market software can't log in. The withdrawal is unavailable. What should I do with my money?
Exposure
2019-08-23
FX8989178179
Hong Kong
I have withdrawn 500 dollars on 14, August, but the money has not yet arrived today. There in no any explanation for the delay. Can the relevant departments take the platform into investigation?
Exposure
2019-08-22
FX1096424637
Hong Kong
I can’t log in the trading APP and have no access to withdrawing the remaining money in my account. Keep away from it, everyone.
Exposure
2019-08-22
赵有锋
Hong Kong
BFS absconded. I lost contact with them. I still got 30000 USD in my account.
Exposure
2019-08-21