Score
BENEFOREX
Australia|5-10 years| http://en.beneforex-asia.com/index.html
Website
Rating Index
Contact
Licenses
Licensed Institution：BENEFIT ZONE GLOBAL PTY LIMITED
License No.：001263542
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
AustraliaBENEFOREX's Australia Office Address Does Not Exist
It has been proved by the on-the-site investigation of the staff that the actual address of the Australia licensed broker BENEFOREX is inconsistent with that declared by the supervision agency. The AR license (No. 001263542) issued by ASIC that it holds has ceased.
AustraliaBENEFOREX's Australia Office Address Does Not Exist
It has been proved by the on-the-site investigation of the staff that the actual address of the Australia licensed broker BENEFOREX is inconsistent with that declared by the supervision agency. The AR license (No. 001263542) issued by ASIC that it holds has ceased.
AustraliaAccount Information
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Website
beneforex-asia.com
Server Location
United States
Website Domain Name
beneforex-asia.com
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
2018-06-19
Server IP
104.16.252.55
-
beneforex-china.com
Server Location
China
Website Domain Name
beneforex-china.com
ICP registration
沪ICP备17002288号-2
Website
GRS-WHOIS.HICHINA.COM
Company
HICHINA ZHICHENG TECHNOLOGY LTD.
Domain Effective Date
0001-01-01
Server IP
58.215.179.165
-
beneforex.com
Server Location
Malaysia
Website Domain Name
beneforex.com
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
0001-01-01
Server IP
47.254.203.91
Company Summary
| BENEFOREXReview Summary | |
| Founded | Not mentioned |
| Registered Country/Region | Australia |
| Regulation | Suspicious clone |
| Market Instruments | Forex, Precious metals, Commodities, Indices |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | / |
| Trading Platform | MT4 |
| Min Deposit | $100 |
| Customer Support | Phone: +61292393210 |
| Email: support@beneforex.net | |
| Social Media: Wechat | |
| Physical Address: Level 10， 20 Martin Place， Sydney NSW 2000 | |
BENEFOREX Information
BENEFOREX, part of Benefit Zone Global, is an unregulated broker based in Sydney, Australia. At present, it provides traders with Forex, Precious metals, Commodities, Indices and other trading instruments, four types of accounts, and supports traders to use the MT4 platform.
Pros and Cons
| Pros | Cons |
| Support MT4 | No regulation |
| Four kinds of accounts | Spread information is unclear |
Is BENEFOREX Legit?
| Regulatory Status | Suspicious clone |
| Regulated by | Australia |
| Licensed Institution | BENEFIT ZONE GLOBAL PTY LIMITED |
| Licensed Type | Appointed Representative(AR) |
| Licensed Number | 001263542 |
What Can I Trade on BENEFOREX?
BENEFOREX provides trading tools across different types.
It mainly includes foreign exchange, and traders can trade foreign exchange pairs including but not limited to EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY, USD/CAD and USD/CHF.
There are also several major global indices traded, such as Australia 200, Germany 30, Hong Kong 50, Japan 225, NASDAQ 100, UK 100, US 2000, US 30 and SPX500.
In addition, traders can trade precious metals such as gold, silver, platinum and palladium, as well as commodities such as West Texas Oil and Brent Oil and gas.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Precious metals | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Stocks | ❌ |
| Bonds | ❌ |
| ETF | ❌ |
Account Types
BENEFOREX offers four types of accounts-Standard Account, VIP Account, Mini Account, and Pro Account.
Pro Account has the highest minimum deposit requirement of $10,000. The remaining three accounts are all $100. In addition, the lever is unified at 1:500.
Leverage
BENEFOREX offers high leverage for all account types, with leverage up to 1:500 on all accounts.
BENEFOREX Fees
Unfortunately, the only known information about spreads is that BENEFOREX offers variable spreads and this broker does not provide specific information.
Trading Platform
The trading platform provided by BENEFOREX is MetaTrader 4 (MT4), which traders can use as a desktop download, web trader or mobile device application.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web, Desktop, Mobile | Beginner |
| MT5 | ❌ |
Deposit and Withdrawal
Instant Payment Gateway, UPI Payment Gateway or online banking deposit funds, which are the payment method offered by this broker. In addition, the minimum deposit requirement is $100.
BENEFOREX says withdrawal requests between 5:30 a.m. and 6:00 p.m. will be processed on the same day, with the exception of active commodity positions/orders in the MCX segment, which will be credited to the account on the following trading day.
| Deposit Options | Details | Transaction Limit | Fees | Processing Time |
| Instant Payment Gateway | Real-time fund transfer | Up to ₹25,00,000 per transaction | Free | Instant |
| UPI Payment Gateway | Unified Payments Interface | Up to ₹100,000 | Free | Instant |
| Online Banking | NEFT, RTGS, and IMPS | Limit up to ₹25,00,000 | - | May take over 2 hours |
Customer Service
BENEFOREX does not support online chat services. Traders can receive BENEFOREX customer service by phone, email, social media, and physical address.
| Contact Options | Details |
| Phone | +61292393210 |
| support@beneforex.net | |
| Support Ticket System | ❌ |
| Online Chat | ❌ |
| Social Media | |
| Physical Address | Level 10， 20 Martin Place， Sydney NSW 2000 |
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Australia Appointed Representative(AR) Revoked
- High potential risk
Review 25
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生命在燃烧
Hong Kong
A salesperson induced me to open an account and operated in BENEFOREX, making me loss over $40,000. Hope the company can return my money
Exposure
2021-01-17
FX3445336482
Hong Kong
Unable to withdraw, it has been over a year. I applied for withdrawal last July. But I can’t contact anyone since then. The web is unavailable too.
Exposure
2020-10-16
西瓜凉了半个夏
Hong Kong
Li Liping scammed me to get registered. But the remaining balance was unavailable. The request has been unapproved for 6 months.
Exposure
2020-07-31
西瓜凉了半个夏
Hong Kong
You covet most of clients’ losses. Why you even withheld our fund? Give back my fund, Mr. Jiang Nan.
Exposure
2020-07-22
西瓜凉了半个夏
Hong Kong
In the face of NCP and discounted salary, the withdrawal is still unavailable.
Exposure
2020-03-26
西瓜凉了半个夏
Hong Kong
The white-label platform has coveted clients’ losses. Hope you give us the withdrawal since we share the same motherland.
Exposure
2020-02-26
西瓜凉了半个夏
Hong Kong
The scam platform gave no access to the withdrawal and disappeared overnight.
Exposure
2020-02-24
秋风63920
Hong Kong
The platform, together with businessman, inveigled clients through livestreaming room, giving no access to withdrawal.
Exposure
2020-01-29
随机还是复制倾向性
Hong Kong
The account was locked without notification. Now the website is disconnected. The official email has been sent back. It is a rip-off that the withdrawal is unavailable.
Exposure
2019-12-21
西瓜凉了半个夏
Hong Kong
The scam platform isn’t as legit as it appears. After scamming my had-earned money, it has absconded.
Exposure
2019-12-12
秋风63920
Hong Kong
The scam platform scammed clients through livestreaming and absconded.
Exposure
2019-12-07
西瓜凉了半个夏
Hong Kong
Severe report on the platform. It has been 3 days while the withdrawal request was still in verification.
Exposure
2019-12-06
西瓜凉了半个夏
Hong Kong
I will report the platform, which gives no reply to emails and phone calls.The withdrawal in it has been unavailable for 3 days.
Exposure
2019-12-05
秋风63920
Hong Kong
The platform has been closed.The customer service is out of contact.My individual account has been blocked. The withdrawal is unavailable.
Exposure
2019-12-04
华君
Hong Kong
I applied for the withdrawal in July,while it was still under audit,Please stay away this fraud platform!
Exposure
2019-08-18
James James
Hong Kong
Nobody anwers.It's a fraud.They locked my account without any reason,whose email address and service line are fake.Are there no regulations governing this company?Can local government punish it?
Exposure
2019-07-29
FX5479999090
Hong Kong
I haven’t traded in BENEFOREX for more than one year,with $6000 or so remaining in my account.Several docking manager have been changed and several managers resigned.Eventually,the boss even dared not respond on phone and Wechat.
Exposure
2019-05-12
Mélancolique roi
Hong Kong
At the beginning of this year, a woman added me on WeChat. We chatted and found that we are all doing stocks. Then she inadvertently sent me a screenshot of her earnings, saying how profitable it is to trade foreign exchange, and then let me open an account at BENEFOREX. She asked me to deposit $30,000, assigned me an instructor and guaranteed that I could make money. I could still make a small profit at the beginning. However, one night, I lost a lot of money at once. She asked me to deposit more so that she can arrange me a new instructor, so I deposited another 20,000 dollars and changed an instructor named Liu. In less than two days, I lost more than half of the money. I locked the position in time, or else my position would be liquidated. I later questioned them, but they blocked me on Wechat and won’t answer my phone. I think this is a scam platform, specializing in earning clients’ loss. I strongly urge relevant departments to destroy them.
Exposure
2019-04-04
和为贵
Hong Kong
BENEFOREX manipulates my account at will, and caused a forced liquidation at the highest point. When the pip went down, it closed orders out again. There is no fixed ratio for a forced liquidation, free to be controlled by the platform.
Exposure
2019-02-18
FX1571701066
Hong Kong
I lost 80000 RMB on BENEFOREX. Now I can’t even log in to their website. The customer service and my agent are all missing.
Exposure
2019-01-23