General Information & Regulation
BFX International claims to be the trading name of Capital EM LTD, a Marshallese registered offshore company. BFX InternationalBFX International is currently an unregulated broker.
Market Instruments
BFX International claims to offer investors a range of financial trading assets, including CFD instruments such as commodities, indices, stocks, and a range of cryptocurrencies.
Minimum Deposit
BFX International offers five types of accounts on its platform: Discovery, Silver, Gold, Premier, and VIP. BFX International does not offer a minimum deposit requirement, proving that BFX International may be a fraudulent brokerage firm.
Leverage
BFX International doesn't tell us any trading leverage information. Leverage magnifies the returns from favorable movements in a currency's exchange rate.It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads & Commissions
The trading conditions on the BFX International website are unclear, and the spreads and commissions on financial instruments are not known. The only information available is that BFX International's standard account has a spread of 3 pips on EURUSD, which is much higher than the industry standard.
Trading Platform
BFX International offers investors a web-based trading platform as well as the widely used MT4 trading platform. MT4 is the preferred trading platform of most traders worldwide, user-friendly, reliable, and efficient, has a powerful charting package and customization options, and supports automated trading using EA's (Expert Advisors) or robots. Unfortunately, there is no demo account available on MT4 offered by BFX International to test.
Deposit & Withdrawal
BFX International only supports traders to withdraw and deposit funds to their accounts via regular VISA, MasterCard, wire transfer, while popular e-wallet payment methods such as Skrill, Neteller are not supported.
BFX International Pros & Cons
BFX International Advantages Include:
1. Web & MT4 trading platforms available
2. Five account types available
BFX International Disadvantage Include:
1. Offshore broker & no regulation
2. Backlisted by CNMV
3. No demo accounts
4. Excessive spreads and unclear transaction costs
5. No minimum deposit requirements information
6. Limited withdrawal and deposit options
