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Global Broker Regulation & Inquiry App

Score

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/10

BFS

Malaysia|5-10 years|
High potential risk|

http://www.bfsforexonline.com

Website

Rating Index

Contact

support@BFSforex.com
http://www.bfsforexonline.com

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

BFS Market Ltd.

Abbreviation

BFS

Platform registered country and region

Malaysia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-11-08
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

BFS · WikiFX Survey

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BFS · Company Summary

Note: You can't access BFS's official website: https://www.bfsforexonline.com right now.

BFS Information

Established in 2020, BFS is an unregulated broker-dealer located in Malaysia. The company offers the MetaTrader 4 (MT4) platform for trading.

BFS Information

Is BFS Legit?

BFS seems to operate without any regulatory oversight. This lack of rules might put investors at higher risk, since no one watches over or makes sure they play fair.

Is BFS Legit?

Downsides of BFS

  • Unavailable Website

BFSs official website cannot be accessed at present. This raises concerns about reliability and accessibility.

  • Lack of Transparency

Investor understanding regarding what BFS remains limited due to insufficient information concerning this platforms operations and dependability.

  • Regulatory Concerns

Investors are unsure if BFS follows any rules, which makes them think twice about how safe the money is and if they can trust the company.

  • Withdrawal Difficulty

A user on WikiFX left a report on using the application, in which he cited many challenges in the process of withdrawing funds. This concern was still unsolved after one week and more with the pending request.

Negative BFS Reviews on WikiFX

On WikiFX, “Exposure” is indicated as a word of mouth; gotten from the users.

The recommendation for traders is to check the information and risks before engaging in dealing with the unregulated platform. If fraudulent brokers persist, you can report in our Exposure section and our team will help to solve such problems.

As of now, there were 3 pieces of BFS exposure in total. I will introduce 2 of them.

Exposure 1. Out of Contact

ClassificationOut of Contact
DateAugust 24, 2019
Post CountryHong Kong
Negative BFS Reviews on WikiFX

A user on WikiFX cited his challenges in using trading accounts and contacting the customer service of the broker. You may visit: https://www.wikifx.com/en/comments/detail/208081216424458.html

Exposure 2. Cannot withdraw money

ClassificationCannot withdraw money
DateSep 16, 2021
Post CountryMalaysia
Negative BFS Reviews on WikiFX

Another user complained on WikiFX about not being able to withdraw his money and that his account had been blocked. You may visit: https://www.wikifx.com/en/comments/detail/202109169302567265.html.

Conclusion

Using a non-regulated platform like BFS can lead to security issues. For that reason, investors are advised to select regulated brokers that ensure transparency in their operations as well as legal compliance with the law when it comes to investments. Look out for platforms monitored by recognized regulatory bodies because they are much safer trading bases.

Review 3

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All(3) Latest Exposure(3)
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