Introduction
In this BelFX.com review, we will take a look at the company’s regulation, platforms, instruments and user ratings. We’ll also discuss some of the pros and cons of trading with BelFX.com. BelFX.com is a forex and CFD broker that offers a variety of different account types and trading platforms for its clients. The company is based in Bulgaria and is regulated by the Financial Supervision Commission (FSC). BelFX.com offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as its own proprietary web-based platform. It has a wide range of currency pairs, CFDs on indices, commodities, stocks and cryptocurrencies.
Company Overview
BelFX is a brokerage firm that offers online foreign exchange (forex) trading services. The company is headquartered in Belize and regulated by the International Financial Services Commission (IFSC).
BelFX offers three types of trading platforms: MetaTrader 4 (MT4), WebTrader, and Mobile Trader. The company provides its clients with a variety of tradable instruments, including major and minor currency pairs, precious metals, and CFDs on indices, energies, and cryptocurrencies.
BelFX has been operational since 2010 and has received numerous positive user reviews. The company provides 24/5 customer support via live chat, email, or telephone.
Regulatory Framework
The regulatory framework of BelFX.com is designed to protect the interests of investors and ensure the safety of their funds. The company is registered with the Financial Services Authority (FSA) of the UK and is a member of the London Stock Exchange (LSE).
BelFX.com is a reliable and safe broker that offers its clients a wide range of financial instruments and platforms for trading. The company’s services are in compliance with international standards and regulations.
Products and Services
BelFX.com offers a wide range of products and services for its clients, including:
– Forex and CFD trading
– Spread betting
– Corporate services
forex and CFD trading: BelFX.com offers its clients the ability to trade a wide range of forex pairs and CFDs on its user-friendly platform. Clients can take advantage of competitive spreads and leverage of up to 1:500.
spread betting: BelFX.com also offers Spread Betting on select instruments, which allows clients to speculate on the price movements of underlying assets without actually owning them. This type of trading is available on a variety of asset classes, including indices, commodities, and currencies.
corporate services: In addition to retail trading services, BelFX.com also provides corporate solutions for institutions and businesses. This includes customized platforms, white label solutions, and merchant accounts.
Trading Platforms
The BelFX.com trading platforms are some of the most user-friendly and technologically advanced in the industry. The web-based platforms are available in English, French, Spanish, Portuguese, Russian, Chinese and Japanese. For those who prefer a more hands-on approach, there is also a downloadable version of the platform.
The platforms offer a wide range of features and tools that can be customized to suit the needs of any trader. Some of the more popular features include:
– Real-time quotes and charting
– Advanced order types
– One-click trading
– Expert Advisors (EAs)
For those who want to take their trading to the next level, BelFX.com also offers exclusive access to the MetaTrader5 (MT5) platform. MT5 is one of the most powerful and popular trading platforms in the world and provides traders with all the tools they need to succeed.
Fees and Commissions
When it comes to fees and commissions, BelFX.com is a bit of a mixed bag. On the one hand, they don’t charge any commission on trades, which is great. On the other hand, their spreads are a bit on the high side compared to other brokers.
For major currency pairs, like EUR/USD, the spread is 3 pips. For minor currency pairs, like AUD/CAD, the spread is 5 pips. And for exotic currency pairs, like USD/TRY, the spread is 7 pips.
In addition to spreads, BelFX.com also charges a $5 per lot round turn fee for all spot forex trades. So if you’re trading 1 lot of EUR/USD, that would be an additional $5 in fees on top of the spread.
Overall, BelFX.com’s fees are not terrible, but they’re not great either. If you’re looking for a broker with low spreads and no commissions, you may want to look elsewhere.
User Ratings
BelFX.com is a leading online broker that offers a wide range of markets, instruments and platforms to its clients. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers its services in more than 80 countries around the world.
BelFX.com has been rated highly by its users for its customer service, platform features and overall trading experience. The company has received positive feedback for its fast account opening process, competitive spreads and wide range of tradable assets.
Pros and Cons
When it comes to online Forex trading, one of the first things you need to consider is the broker you will use. In this BelFX.com review, we take a look at the company’s regulation, platforms, instruments and user ratings to help you decide if they are the right broker for you.
Pros:
– BelFX is regulated by CySEC in Europe and the FSB in South Africa. This means that they are subject to strict financial regulations and must meet high standards of customer protection.
– The broker offers a choice of two trading platforms – the popular MetaTrader 4 (MT4) and their own web-based platform, BelFX Webtrader. Both platforms offer a wide range of features and tools for traders of all levels.
– In terms of instruments, BelFX offers a good selection of currency pairs, CFDs on indices, commodities, shares and cryptocurrencies. There is something for everyone here.
– User ratings for BelFX are generally positive, with many happy customers praising the company’s customer service and helpfulness.
Cons:
– One potential downside is that BelFX does not offer any bonus or promotional offers for new or existing clients at the moment. This may change in the future though so keep an eye out.
– Another con is that there have been some reports of slow withdrawal times from BelFX. However, it should be noted that these reports are from a
Conclusion
All in all, BelFX.com is a reliable and user-friendly broker that offers a great selection of instruments and platforms to trade on. The company is heavily regulated by CySEC, which gives traders peace of mind that their money is safe. BelFX.com also has a very active online community where users can share tips and advice with each other, which makes it a great option for both experienced and beginner traders alike.