8BX.COM Forex Broker

Company name 8BX.COM Registered in United States Regulated Not regulated Years of establishment 5-10 years Trading instruments Forex, Stocks, Commodities, Indices, Cryptocurrencies Account Types Standard, Premium, VIP, Islamic Minimum Initial Deposit $100 Maximum Leverage Up to 1:500 Minimum Spread Average around 1.8 pips (EUR/USD) Trading Platform MetaTrader 4 (MT4) Deposit and Withdrawal Methods Credit cards, Debit cards, Wire transfers Overview of 8BX.COM 8BX.COM is an online trading platform operating in the United States. Notably, it lacks regulation, potentially exposing traders to higher risks. With a trading history spanning 5-10 years, the platform offers a diverse range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. It features various account types, such as Standard, Premium, VIP, and Islamic, accommodating different trading needs. A minimum initial deposit of $100 allows accessibility to a broad spectrum of traders. While the maximum leverage of up to 1:500 offers potential for amplified gains, it also entails substantial risks. The platform boasts an average spread of around 1.8 pips for major currency pairs like EUR/USD. Operating on the popular MetaTrader 4 (MT4) trading platform, it facilitates trading via credit cards, debit cards, and wire transfers. Withdrawals align with the same methods used for deposits. Despite these offerings, the absence of regulatory oversight in the United States warrants cautious consideration and careful evaluation of potential risks associated with trading on 8BX.COM. Is 8BX.COM legit or a scam？ Investors should exercise caution when considering involvement with 8BX.COM due to several concerning factors. The broker lacks valid regulation, exposing traders to potential risks without regulatory protection. With 6 recent complaints reported to WikiFX in the past 3 months, a pattern of negative feedback raises concerns about the broker's services. Additionally, negative field survey reviews contribute to doubts about the broker's legitimacy. Claims of regulatory authorization, including the United States NFA regulation (license number: 0515642) and Australia ASIC regulations (license numbers: 001273788 and 001277959), are under suspicion for being cloned or fabricated. Furthermore, the absence of a trading software platform diminishes the broker's credibility. Pros and Cons 8BX.COM offers a range of trading instruments and account types with a low minimum deposit and potential for high leverage. The platform utilizes the widely recognized MetaTrader 4 platform. However, its lack of regulatory oversight in the United States, suspicions of cloned regulatory claims, the lack of a strong track record, the presence of negative reviews, and the absence of regulatory oversight all raise red flags about 8BX.COM. Pros Cons Diverse trading instruments Unregulated Various account types Suspicion of cloned regulatory claims Low minimum deposit Negative feedback and complaints High leverage potential Limited trading history Popular MetaTrader 4 platform Market Instruments 8BX.COM stands as a versatile trading platform, offering an expansive array of market instruments to cater to a diverse range of trading preferences. The platform encompasses the dynamic world of forex trading, enabling investors to engage in speculative transactions involving currency pairs, capitalizing on fluctuations in exchange rates. Simultaneously, traders can delve into the realm of stocks by trading Contract for Differences (CFDs), facilitating speculation on the price shifts of individual company shares without direct ownership. Moreover, the platform extends its reach to the commodities market, empowering users to trade in commodities like gold, oil, and agricultural products, providing a means of diversification and a hedge against economic uncertainties. Beyond this, the opportunity to engage in CFD-based trading of indices permits investors to track and analyze the collective performance of stock market indices, thereby gleaning insights into broader market trends. Account Types 8BX.COM offers a variety of account types to cater to different trading needs and preferences: Standard Account: This account has a lower minimum deposit requirement but comes with higher spreads, which can impact trading costs. Premium Account: Designed for traders seeking better trading conditions, the Premium Account likely offers lower spreads and potentially additional features. VIP Account: Geared towards experienced traders, the VIP Account requires a higher minimum deposit but offers the advantage of lower spreads and access to advanced features. Islamic Account: This type of account adheres to Islamic principles, complying with Sharia law requirements by avoiding interest-based activities. How to Open an Account？ To create an account on 8BX.COM, you need to provide essential information, including your personal details such as name, email address, phone number, date of birth, address, citizenship, and preferred funding method. This information is crucial for account verification and security purposes. Leverage 8BX.COM offers traders the opportunity to utilize leverage up to a ratio of 1:500. Leverage is a powerful tool that enables traders to control positions that are significantly larger than their initial investment. For instance, with a leverage ratio of 1:500, a trader could control a position worth $50,000 with just a $100 deposit. However, it's essential to exercise caution when using leverage. While it has the potential to amplify profits, it also magnifies the risks. Trading with high leverage can lead to substantial losses if the market moves against the trader's position. Therefore, prudent risk management strategies are crucial, such as setting stop-loss orders to limit potential losses. Spreads & Commissions 8BX.COM employs a variable spread model for its trading instruments. The average spread for popular pairs like EUR/USD is approximately 1.8 pips. Spreads represent the difference between the buying (bid) and selling (ask) prices of a currency pair or other instruments. Lower spreads can enhance trading profitability by reducing the cost of entering and exiting positions. One notable aspect is that 8BX.COM does not charge commissions on trades. This means that the main cost of trading primarily comes from the spreads. Traders should consider both spreads and potential market volatility when planning their trading strategies. Trading Platform The MetaTrader 4 (MT4) trading platform is the backbone of 8BX.COM's trading infrastructure. MT4 is renowned for its widespread use among traders globally, owing to its comprehensive features, advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs). However, it's worth noting that MT4 might pose challenges for beginners due to its complexity. Navigating through its various functions and tools might require a learning curve. Nevertheless, the availability of online tutorials, guides, and practice accounts can assist newcomers in mastering the platform over time. Deposit & Withdrawal 8BX.COM facilitates deposits in several major currencies, including USD, EUR, and GBP. The minimum deposit requirement is set at $100, making it accessible to traders with varying capital sizes. This lowers the entry barrier, enabling traders to participate in the markets. For funding convenience, the platform supports multiple deposit methods such as credit cards, debit cards, and wire transfers. This variety ensures that traders from different regions can easily fund their accounts. When it comes to withdrawals, they can be processed in the same currencies used for deposits. The minimum withdrawal amount is $100, allowing traders to access their funds without being limited by excessively high thresholds. The commitment to processing withdrawals within 24 hours adds an element of efficiency and convenience for traders looking to access their profits or funds. Risk Warning Investors should exercise extreme caution and be fully aware of the potential risks associated with 8BX.COM in light of the disclosed information. The NFA ID: 0515642 attributed to 8BXVN.COM, previously associated with website domains like 8bx.com and 8bxa.com, has been identified by the U.S. National Futures Association (NFA) as fraudulent retail forex trading entities. The issuance of false NFA licenses and the subsequent invalidation of the mentioned websites raise significant concerns about the credibility and legitimacy of 8BX.COM. With all mentioned domains rendered inactive and numerous adverse online reports, potential investors are cautioned against engaging with this platform. This caution is underscored by the fact that the disclosed NFA IDs have been debunked as fraudulent, underscoring the importance of conducting thorough due diligence and seeking reliable and regulated alternatives to safeguard against potential financial risks and losses. Conclusion 8BX.COM presents a trading platform that offers a diverse range of market instruments, catering to various trading preferences. While its accessibility through a low minimum deposit and the provision of multiple account types may attract traders, the absence of regulatory oversight in the United States raises significant concerns. Coupled with suspicions of cloned regulatory claims and negative feedback, potential investors should exercise caution. The platform's use of the widely recognized MetaTrader 4 trading platform and the availability of multiple deposit and withdrawal methods add to its appeal. FAQs Q: Is 8BX.COM regulated in the United States？ A: No, it is not regulated. Q: How long has 8BX.COM been operating？ A: Around 5-10 years. Q: What account types does 8BX.COM offer？ A: Standard, Premium, VIP, Islamic. Q: What is the minimum deposit on 8BX.COM？ A: $100. Q: What is the maximum leverage on 8BX.COM？ A: Up to 1:500.