BTFX

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Disadvantages:

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About company:

Founded in 2011, BTFX is a Maltese broker offering trading in over 40 currency pairs as well as silver and gold through the MetaTrader 4 platform.

Company. Fund security

Brokersclub Ltd., which owns the BTFX brand, is licensed for Tier 2 investment services by the Malta Financial Conduct Authority (MFSA). The license allows you to provide investment services and hold or control clients' money.

The MFSA is the sole regulator for financial services in Malta and applies certain rules and requirements to license holders.

In addition to a minimum capital requirement of € 730,000, licensees must maintain a risk management system and report regularly on their performance to the MFSA.

Malta has been a member of the European Union since May 1, 2004. Thus, every MFSA-controlled investment company has the right to offer cross-border services in the EU under MiFID.

As an additional guarantee of customer funds, Brokersclub Ltd. is a member of the Malta Investor Compensation System.

Trading conditions

BTFX offers its clients a choice of five trading accounts with variable spreads, leverage up to 1: 200 and the ability to trade micro-lots on the MetaTrader 4. ECN environment is also available with this broker. In addition, BTFX provides special conditions for VIP-clients with a deposit of $ 25,000 or more.

Minimum initial deposit

To open an account with BTFX, traders must invest a minimum of $ 250. This amount is the average in the industry, but many other brokers require less, for example $ 100 or even $ 1.

Spreads and commissions

Variable BTFX spreads on interest-free accounts are average. On the other hand, his ECN accounts provide lower spreads averaging 0.5 pips on EUR / USD, but also include a commission: $ 7 per lot. So basically the trading costs of ECN account holders are around 1.2 pips per EUR / USD pair per standard lot, including fees, which is the average for Forex.

Leverage

The maximum leverage level offered by BTFX is 1: 200, which is considered average. If you are looking for higher levels of leverage, you can find companies in our ranking.

Trading platforms

This broker supports the famous MetaTrader 4 (MT4) terminal as well as Autotrade MyFXBook.

MT4 offers a set of trading tools and resources such as built-in technical indicators, charts, experts (EAs) that traders can download ready-made or create their own.

In addition, those involved in copying can also use Autotrade from MyFXBook directly through their BTFX Live account.

Ways of payment

The following payment methods are available for BTFX customers: credit and debit cards, bank transfers and electronic payment systems MoneyGram, Neteller, PayPal and clickandbuy.

Pros:

regulated broker; MT4 is available; competitive spreads; ECN environment.

Minuses:

no indices and CFD shares; high initial deposit for ECN accounts.

FAQ - BROKER QUESTIONS BTFX

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Can the broker BTFX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. BTFX received a rating of 1 out of 5 on our resource.