BNFX

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About company:

BNFX is a Forex and CFD brokerage company offering online trading on two reliable platforms with STP / ECN execution.

About company. Fund security

Bestec Networks Foreign Exchange was established in 2010. The brand is owned and operated by BNFX Capital Limited, a company that was previously licensed in New Zealand but was de-registered with NZ FSPR in September 2012 and is currently unregulated.

Investing in an unregulated broker is a risky business and we generally advise traders to stay away from such companies and choose between companies licensed by reputable regulators, which you can check out in our ranking.

Trading conditions

BNFX clients are offered a choice of 3 account types, two STP and one ECN. They all offer various spreads and micro-lots with leverage up to 1: 100 on two trading platforms - MetaTrader 4 and xStation.

The best spreads are of course available on an ECN account: an average of 0.4 pips on EUR / USD. If we add a commission of $ 8 per lot, we get roughly 1.2 pips per lot, which is an attractive proposition. The problem is that in order to open an ECN account, you must deposit at least $ 1,000 with an unregulated broker, and this carries certain risks, since if the broker goes bankrupt, then the money will not be returned to traders.

Trading platforms

As we mentioned, BNFX supports MetaTrader 4 as well as xStation developed by the XOpen Hub.

xStation is a feature rich software that also includes one-click trading and the ability to work with a chart. The platform is equipped with various technical analysis tools and an advanced graphics package.

MT4 offers a range of technical indicators, an extensive testing environment, advanced charting tools and trading automation options with the most commonly used trading robots (EAs) as well as options for creating new ones.

Support service

The support service is available only as a feedback form.

Ways of payment

BNFX only offers bank transfers and credit / debit cards as payments. Popular e-wallets Skrill, Neteller or PayPal are not available with this broker.

Pros:

competitive spreads; low initial deposit; xStation and MT4 are available.

Minuses:

not regulated; not enough information about trading conditions limited payment methods.

FAQ - BROKER QUESTIONS BNFX

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Can the broker BNFX 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. BNFX received a rating of 1 out of 5 on our resource.