Belfrics Forex broker specializes in providing foreign exchange trading services, the company's official website https://belfrics.io/#/signup-individual/, the company's legitimate regulatory information MalaysiaLFSAStraight Through Processing(STP), to enhance the security of the company's address Lot 3, Lazenda Phase 3 Shophouse , Off Jalan OKK Abdullah, 87000 Labuan F.T.
Belfrics Forex Broker
Basic information
Malaysia
5-10 years Regulated in Malaysia Straight Through Processing(STP) Suspicious Scope of Business Medium potential riskCompany profile
Belfrics Information
Based in Malaysia and governed under Labuan Financial Services Authority (LFSA), Belfrics is a bitcoin exchange. Accessible via a mobile app for both iOS and Android users, it provides crypto trading using a choice of 25 cryptocurrencies.
Pros and Cons
| Pros | Cons |
| Regulated by LFSA in Malaysia | No demo account available |
| Supports mobile trading on multiple devices | Limited to cryptocurrency trading |
| Clear fee structure for deposits and withdrawals |
Is Belfrics Legit?
Yes, Belfrics is regulated. The Labuan Financial Services Authority (Labuan FSA) in Malaysia regulates it. Belfrics International Limited has a Labuan FSA Straight Through Processing (STP) licence to provide transparent, regulated financial services. However, the licence number is “Unreleased.”
What Can I Trade on Belfrics?
Belfrics focuses in trading cryptocurrencies. It gives consumers access to trade 25 cryptocurrencies and lets them purchase and sell cryptocurrencies immediately using USD.
| Tradable Instruments | Supported |
| Forex | ❌ |
| Commodities | ❌ |
| Crypto | ✔ |
| CFD | ❌ |
| Indexes | ❌ |
| Stock | ❌ |
| ETF | ❌ |
Belfrics Fees
Belfrics' crypto-to-crypto taker fee of 1.00% is higher than industry average. Standard withdrawal fees for major cryptocurrencies differ by token on the platform.
Spread & Transaction Fees
Crypto-to-Crypto Trading Fees:
Maker Fee: 0.50%
Taker Fee: 1.00%
Crypto-to-Fiat Trading Fees: Not mentioned, indicating it might not be available or applicable currently on Belfrics.
Non-Trading Fees
| Non-trading Fees | |
| Deposit Fee (Fiat) | Free (bank charges may apply) |
| Deposit Fee (Crypto) | Free |
| Withdrawal Fee (Fiat) | Free (bank TT charges apply) |
| Withdrawal Fee (Crypto) | Varies by cryptocurrency, as detailed below |
| Inactivity Fee | Not mentioned |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Belfrics App | ✔ | iOS (App Store), Android (Play Store) | Traders focused on mobile cryptocurrency trading |
Deposit and Withdrawal
For deposits—in cash or bitcoin—Belfrics does not levy fees. For fiat deposits, consumers could be charged banks fees, nevertheless.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Fiat Currency | Not mentioned | None (bank charges may apply) | Monday to Friday, twice daily (11:00 AM and 3:00 PM) |
| Cryptocurrency | Not mentioned | None | Upon blockchain confirmation |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Fees | Processing Time |
| Fiat Currency | Not mentioned | None (bank TT charges apply) | Monday to Friday, once daily at 11:30 AM |
| Cryptocurrency | Varies by token | Varies by token (e.g., 0.0008 BTC for BTC) | Four times daily (1 AM, 11 AM, 4 PM, and 8 PM GMT) upon blockchain confirmation |
FX3184926314
Malaysia
I would like to request assistant from you on the pending withdrawal of a crypto exchange.My partner has made a deposit of 22 Bitcoins into the Belfrics crypto exchange in the year 2019, the month of May. He tried to withdraw the bitcoin in this year 2020 month of March, 16th but the withdrawal still pending.
Exposure
2021-04-19