BNFX reviews

BNFX_logo BNFX 6/10 (votes 2374)

On-line since: 2010
Country of origin: New Zealand
Regulation: -
Payment options: bank transfers, credit cards
Minimum account size: $1000
Minimum lot size: 0.01 lot
Leverage: -
Spreads: fixed

BNFX first entered the market in 2010. Since then, the company has developed into a global interorganizational network providing connections and access to trading between tier 1 financial institutions and professional forex traders. The broker was registered in New Zealand. However, the company’s registration was canceled in 2012. The broker remains unregulated up to this day. According to the official website, BNFX is the best broker on the electronic communication network (ECN) and in the forex market. The company assures traders that it keeps clients' funds in segregated accounts apart from the company's internal capital. The broker does not render services for customers from the United States.

Trading conditions

BNFX offers its clients two types of accounts - STP and ECN. There are different trading conditions for each type of account. The ECN account provides the most favorable conditions. The initial deposit for trading is $1,000.

BNFX allows scalping and hedging, as well as trading with the help of advisers. Beginners can train their skills by means of a demo account.

At the time of writing the review, the buttons “Open a real account” and “Demo account” led to non-working pages.

Trading platforms

BNFX offers the following trading platforms: the popular MetaTrader 4, as well as multifunctional innovative xStation software developed by XOpen Hub.

Customer service

It is possible to contact the customer service only with the help of a feedback form. According to the support services section of the website, the company is currently undergoing restructuring. We have not managed to establish what this all means and how long it will last. Most likely, this is due to the problems in the operation of the website’s certain sections.

Deposit and withdrawal of funds

You can deposit and withdraw profits only by means of bank transfers and credit cards.

Traders’ reviews

We have not found a single review about the broker’s activity.

Broker’s advantages and disadvantages

Advantages:

  • competitive spreads
  • demo account
  • reliable trading platforms

Disadvantages:

  • unlicensed and unregulated broker
  • high minimum deposit
  • limited withdrawal methods
  • lack of feedback or comments about the broker's activity on the network

Conclusion

Indeed, forex trading involves a certain amount of risk, while cooperation with unregulated brokers is twice as risky. There are many licensed brokerage firms in our rating which work is monitored by authorized regulators. In our opinion, it is wiser to turn to them. In addition, the official website of BNFX is not properly functional. Most likely, the company plans to reorganize the corporate structure and return to the market.

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Comments about broker

Talilan trader
review BNFX
11-05-21

The initial capital required at BNFX is $1000. This is higher than most brokers but I wouldn't mind it if they are able to provide quality services. Unfortunately, with what I experience, I don't think it is worth investing a huge amount on this broker. There were a lot of glitches in the platform when I traded with them and I honestly lost track on how much was really left in my account because it always changed.

Mieaski trader
review BNFX
29-04-21

I have tried various brokers for the reason that my trading approach is scalping and there is a trouble, but with BNFX I never face any issue with my scalping strategy. I started with $2k I am using my scalping EA, on average its execute 5 trades in a day and my account is up some 80% just in two months. Until now I made one withdraw via bank transfers my withdraw was took only 2 hours. I am extremely happy with BNFX broker and defiantly I will boost my investment.

Larry trader
review BNFX
11-11-20

I wanted to withdraw $1500, but BNFX didn’t let me do this request. I contacted them for several times and they are not responding on email and even live chat. Only one time, I was able to chat with their representative who seemed alive, but I was kicked from the session without reason after a while. Very disappointing. For those of you who are still thinking about joining this broker, it's better to stop thinking, and you don't need to join this broker. Harm you.

Eugene trader
review BNFX
25-08-20

I am currently demo trading with BNFX. So far, I am liking my overall experience. Their platform is stable and I am able to operate it without any difficulty. Their customer support team is also easy to reach. However, what's stopping me from opening a real account with them is the high minimum deposit required. I don't know if it would be worth it to invest a thousand dollars especially with the fact that this broker is not regulated.

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