Score
BENEFOREX
Australia|5-10 years| http://en.beneforex-asia.com/index.html
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Single Core
1G
40G
Contact number
+61 2 9239 3210
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Broker Information
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Benefit Zone Global
BENEFOREX
Australia
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 24 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
- The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
- AustraliaASIC (license number: 001263542) The regulatory status is abnormal, the official regulatory status is Unsubscribed. Please be aware of the risk!
BENEFOREX'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.
AustraliaWikiFX Verification
Australia| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 100USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 100USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 100USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 10000USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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BENEFOREX · 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 |
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