Bforex is an online trading broker that provides online access to the forex markets through the intuitive PROfit trading platform. They offer competitive trading conditions, including fast execution, 24/6 client support, tight spreads, reasonable exchange rates, and commission-free trading.
Bforex Review, Pros & Cons
- An intuitive trading platform
- A range of useful trading tools
- A selection of educational resources
- No USA clients
- No MetaTrader Platforms
- Limited trading instruments
- Limited account funding options
- Not the tightest spreads
In this detailed Bforex review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Based in Limassol, Cyprus, Bforex is an online trading company that is trusted by clients from across the globe. The broker allows traders to trade over 40 currency pairs plus CFDs in commodities like oil and gold via the PROfit trading platforms which is available in web and mobile versions. There is a range of useful trading tools, educational resources, and a 24/6 client support team to assist traders.
There is no regulatory information on the broker’s website at the moment. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The broker does not offer its services to residents of countries or jurisdictions where the use of such services would be contrary to local laws or regulations. They cannot accept USA clients.
Some Bforex features and products mentioned within this Bforex review may not be available to traders from certain countries because of legal restrictions.
The broker provides traders with a highly advanced PROfit trading platform. It is developed by a technical team at Bforex, and it offers advanced trading features with an easy-to-use interface and customizable layout. The PROfit trading platforms available in two versions: Web-PROfit and Mobile PROfit.
The Web PROfit is web-based and offers various trading tools, news feeds, and support directly from the platform without needing to download or install any additional software. On the other hand, the Mobile PROfit trading platform allows you to manage your account, receive live currency quotes, view and edit positions, and place trades on the go. It is compatible with both Android and iOS devices and can be downloaded from the respective app stores.
Bforex Trading Tools
Traders benefit from a range of useful trading tools that help to enhance their overall trading experience. These include trading signals, currency charts, daily/weekly analysis, and an economic calendar that shows the timetable for economic data releases and their expected impact on the financial markets.
There is a vast array of educational resources on the broker’s website, and they are geared towards improving clients’ trading prowess whilst keeping them updated on the latest happenings in the markets. They include a forex academy that contains a selection of educational articles, trading videos, and webinars on forex trading; a trading glossary; and training courses.
Bforex allows traders to trade over 40 currency pairs plus commodities like oil and gold.
Bforex Accounts & Fees
Traders are allowed to create a standard live trading account with a required minimum deposit of $200 to start trading.
As broker fees can vary and change, there may be additional fees that are not listed in this Bforex review. It is imperative to ensure that you check and understand all of the latest information before you open a Bforex broker account for online trading.
The broker offers a knowledgeable client support team that is on hand 24/6 to respond to traders’ inquiries via live chat, telephone, email, and call back request form.
Bforex Deposit & Withdrawal
Bforex provides its clients with a variety of popular payment methods to make trading even more convenient. They include the following:
- Credit/Debit Cards
- Bank transfers
- Online payment processors
Bforex Account Opening
To open an account, click on the ’Login’ icon on the top-right corner of the broker’s website. Next, click on ’New User’ at the bottom of the login page and fill out the account application form, and then submit.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Overall, Bforex is an online trading broker that is based in Cyprus and provides traders with the innovative PROfit trading platform for trading multiple financial instruments. Traders are also provided with a range of trading tools, educational resources, and a client support team.
However, there is no regulatory information on the broker’s website at the moment which could be a red flag for potential clients who are looking to open an online trading account. You can see a list of regulated brokers on our best brokers page.
The transaction or operations in the Forex or fx markets does involve a substantial degree of risk, and should not be undertaken until the user has carefully evaluated whether their financial situation is appropriate for such transactions. Trading may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital.