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BMFN Forex broker specializes in providing foreign exchange trading services, the company's official website https://my.bmfn.com/..., the company's legitimate regulatory information AustraliaASICDerivatives Trading License (MM), New ZealandFSPRInst Forex Execution (STP) to enhance the security of the company's address

BMFN Forex Broker

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BMFN

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BMFN Review SummaryFounded1988Registered Country/RegionAustraliaRegulationFCA (Revoked), FSPR/ASIC (Unverified)Market InstrumentsForex, Indices, Equities, ETFs, CommoditiesDemo Account✅LeverageUp to 1:400Spread1.4 pips on most majorsTrading Platform/Minimum Deposit$50Customer SupportContact FormEmail: Support@bmfn.comHeadquarters Address: Pango Road, Waves at Surfside-Villa 9, Port Vila, VanuatuBMFN Information Founded in 1988, BMFN is an unregulated broker registered in Australia, offering various trading instruments including forex, indices, equities, ETFs, and commodities, with leverage up to 1:400. The minimum deposit is $50.Pros and ConsPros Cons Long historyNo valid regulationSegregated accountsNo MT4/MT5Various trading instrumentsDemo accounts availableLow minimum depositPopular payment methodsNo deposit/withdrawal feesIs BMFN Legit? BMFN claims to offer segregated client trust accounts with AA Rated banks. However, it currently has no valid regulations. It only holds a revoked FCA license and unverified FSPR and ASIC licenses. Please be aware of the risk!Regulated CountryRegulated byLicensed EntityLicensed TypeLicensed NumberRegulatory StatusUKFinancial Conduct Authority (FCA)EMIRATES WEALTH EADEuropean Authorized Representative (EEA)550785RevokedNew ZealandFinancial Service Providers Register (FSPR)AUSTRALIAN MUTUAL FUNDS EXCHANGE PTY LTDFinancial Service Corporate328066UnverifiedAustraliaAustralia Securities & Investments Commission (ASIC)OKX AUSTRALIA FINANCIAL PTY LTDInvestment Advisory License379035UnverifiedWhat Can I Trade on BMFN?Tradable Instruments Supported Forex✔Indices✔Equities✔ETFs✔Commodities✔Cryptocurrencies❌Bonds❌Options❌Account Type BMFN offers demo accounts and live accounts. You can open up to 3 trading accounts with BMFN.Leverage BMFN offers a leverage ratio up to 1:400 (default leverage is 1:200). Please note that high leverage can amplify not only profits but also losses.Asset ClassMaximum LeverageForex1:200Indices1:33Equities1:10ETFs1:10Commodities1:33Spread and Commission BMFN charges no commissions, instead, the spread is all you pay. As it claims on their homepage, spread on most majors is 1.4 pips.Deposit and Withdrawal BMFN accepts payments via Bank Wire, Credit cards, Skrill, China Union and more. The minimum deposit requirement is $50, but there are no minimum withdrawal requirements. BMFN does not charge any fees for deposits and withdrawals. The only fees that are charged are the bank fees (third party fees) which depend on every bank policy. Bank wire commission is $50 per transaction. Withdrawal/Deposit are processed within the first 24 hours after receiving the request. It takes between 3 to 5 working days for a Bank Wire to be received in general. Note that funds deposited via Credit Card are not available for withdrawal for a period of thirty (30) calendar days.
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Basic Information

Registered Region
Australia
Operating Period
--
Company Name
Boston Merchant Financial
Abbreviation
BMFN
Company employee
--
Customer Service Email Address
office@bmfn.eu
Contact Number
+35924012636
Company Website
QQ
4006118610
How to login to BMFN?
Bmfn Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Bmfn Account Registering for a Bmfn account is the first step to accessing a wide array of trading options, including Forex, CFDs, and commodities. Below are the detailed steps to complete your Bmfn registration: Step 1: Accessing the Registration Page To begin the registration process, navigate to the Bmfn official website. Look for the "Sign Up" or "Register" button prominently displayed on the homepage. Click this button to be redirected to the registration form. Step 2: Filling in Required Information In the registration form, you will be required to provide personal information such as your full name, email address, phone number, and residential address. Ensure that all information is accurate to avoid issues later in the process. Step 3: Email/Phone Verification After submitting your information, you will receive a verification email or SMS. Click on the verification link in the email or enter the verification code sent to your phone. This step is crucial for confirming your identity and securing your account. Step 4: Identity Verification (if required) Depending on your region and regulatory requirements, you may be asked to provide additional identification documentation. This could include a government-issued ID and proof of address (e.g., utility bill). Make sure to have these documents ready for submission. Step 5: Registration Confirmation Once your information is verified, you will receive a confirmation email notifying you that your Bmfn account has been successfully registered. You can now proceed to the next steps for account opening. Common Registration Issues and Solutions Email Not Received: Check your spam folder or ensure that you entered the correct email address. Verification Code Issues: If the verification code does not work, request a new code through the registration portal. Document Rejection: Ensure that your documents are clear and meet the specified requirements. Regional Differences in Registration While the registration process is generally consistent, some regions may have additional requirements or restrictions. For example, residents from certain countries may not be eligible to register due to regulatory constraints. Part Two: Account Opening Process Bmfn Account Opening Detailed Guide After successfully completing your Bmfn registration, the next step is to open your account. It is important to understand that registration and account opening are two distinct processes. Registration allows you to create a profile, while account opening involves setting up a trading account. Preparation Work Before Account Opening Before you begin the account opening process, ensure that you have the following ready: A valid form of identification (passport, national ID) Proof of address (utility bill, bank statement) A minimum deposit of $50 to fund your account Detailed Account Opening Steps Step 1: Selecting Account Type Bmfn offers several types of accounts tailored to different trading styles. Choose an account type that suits your trading needs, whether it is a standard account or a more specialized trading account. Step 2: Submitting Required Documents Upload the necessary identification and proof of address documents through the Bmfn account portal. Make sure these documents are clear and legible to avoid delays. Step 3: Account Review Process Once you submit your documents, Bmfn will review them to ensure they comply with regulatory standards. This process typically takes 1-3 business days, depending on the volume of applications. Step 4: Account Activation After your documents are approved, you will receive an email confirming that your account is activated. At this point, you can log in to your account and make your initial deposit. Step 5: Initial Setup Log in to your Bmfn account and complete any necessary setup, such as configuring your trading platform preferences and funding your account. Frequently Asked Questions About Account Opening How long does the account opening process take? Typically, it takes 1-3 business days for the account to be fully activated after document submission. Can I open multiple accounts? Yes, Bmfn allows you to open multiple accounts, but each must be registered under a unique email address. Next Steps After Opening an Account Once your account is activated, you can fund it using various methods such as bank transfer, credit card, or e-wallets. After funding, you can begin trading on the Bmfn platform. Part Three: Login Guide Bmfn Login Process Explained After successfully registering and opening your account, logging in to Bmfn is straightforward. Follow these steps to access your account: Step 1: Access the Bmfn Login Page Go to the Bmfn website and click on the "Login" button, usually located at the top right corner of the homepage. Step 2: Enter Your Credentials Input your registered email address and password in the appropriate fields. Ensure that your credentials are entered correctly to avoid login errors. Step 3: Two-Factor Authentication (if enabled) If you have enabled two-factor authentication (2FA), you will be prompted to enter the verification code sent to your registered mobile device or email. Step 4: Click on the Login Button After entering your credentials and 2FA code (if applicable), click the "Login" button to access your account. Step 5: Access Your Dashboard Once logged in, you will be directed to your account dashboard, where you can view your account balance, trading history, and market data. Mobile App Login Process If you prefer to trade on the go, you can download the Bmfn mobile app. The login process is similar: Open the app. Enter your credentials. Complete any 2FA requirements. Access your trading dashboard. Other Login Methods Currently, Bmfn does not support third-party login options such as Google or Facebook login. All users must log in using their registered email and password. Common Login Issues and Solutions Forgotten Password: Use the "Forgot Password" link on the login page to reset your password via email. Account Lockout: If you enter incorrect credentials multiple times, your account may be temporarily locked. Follow the instructions in the lockout notification to regain access. Technical Issues: Clear your browser cache or try accessing the site from a different browser or device if you experience technical difficulties. Overview of Features After Login Upon logging in, you will have access to various features, including: Real-time market data Trading platform access (MetaTrader 4 or Bmfn WebTrader) Account management tools Educational resources and support Additional Sections Account Security Recommendations To ensure the security of your Bmfn account: Use a strong, unique password. Enable two-factor authentication. Regularly monitor your account for any unauthorized activity. Best Practices for Account Management Keep your personal information updated. Regularly review your account statements. Use demo accounts to practice trading strategies without financial risk. How to Get Technical Support If you encounter issues or have questions, Bmfn offers several support options: Live Chat: Available on the website during business hours. Email Support: Reach out to support@bmfn.com for assistance. Phone Support: Contact customer service for immediate help. By following this comprehensive guide, you can navigate the Bmfn registration, account opening, and login processes with confidence. If you encounter any issues, refer to the common problems and solutions outlined above, or reach out to Bmfn's customer support for assistance.

Bmfn Forex Broker - Complete Information Guide

1. Broker Overview

Bmfn, or Boston Merchant Financial, is a well-established forex broker founded in 1988. The company is headquartered in Port Vila, Vanuatu, and has established offices in several locations worldwide, including Australia, Egypt, China, Kuwait, New Zealand, the United Arab Emirates, Russia, Ukraine, and the United Kingdom. Bmfn operates as a private entity, providing services primarily to retail clients and institutional investors.

Over the years, Bmfn has developed a reputation in the forex trading industry, achieving significant milestones along the way. The broker has grown its client base to over 4 million traders globally, offering a diverse range of trading instruments and services. Bmfn's business model focuses on retail forex trading, providing access to various financial markets, including forex, commodities, indices, and ETFs.

As a part of the Boston Financial Group, Bmfn leverages its extensive industry experience to cater to traders' needs, ensuring a reliable and efficient trading environment. The broker's long-standing presence in the market has helped it build a loyal client base, emphasizing its commitment to providing quality trading services.

2. Regulation and Compliance Information

Bmfn is regulated by the Vanuatu Financial Services Commission (VFSC), holding the license number 40202. The broker claims to comply with the regulatory standards set by the VFSC, which is essential for maintaining operational integrity and client trust.

However, it is crucial to note that while Bmfn is regulated by the VFSC, some concerns have been raised regarding the robustness of this regulatory framework compared to Tier-1 jurisdictions. The broker also claims to have been regulated by the Australian Securities and Investments Commission (ASIC) under the license number 379035, but there are indications that this license may not be currently valid.

Bmfn implements a client funds segregation policy, ensuring that clients' funds are kept separate from the company's operational funds. This practice enhances the safety of client deposits. Furthermore, Bmfn adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, aiming to prevent fraudulent activities and protect the integrity of the trading environment.

3. Trading Products and Services

Bmfn offers a wide range of trading products, catering to various trading preferences. The broker provides access to over 20 forex currency pairs, including major, minor, and exotic pairs. Additionally, Bmfn offers Contract for Difference (CFD) products across several categories:

  • Indices: Trading options include major global indices.
  • Commodities: Traders can access precious metals like gold and silver, as well as energy commodities like oil.
  • Equities: Bmfn provides trading opportunities in various stocks.
  • ETFs: A selection of exchange-traded funds is available for trading.

The broker continuously updates its product offerings, ensuring clients have access to the latest trading instruments. Bmfn focuses on providing robust retail trading services while also catering to institutional clients through tailored solutions.

4. Trading Platforms and Technology

Bmfn supports the widely recognized MetaTrader 4 (MT4) platform, known for its user-friendly interface and advanced trading capabilities. The broker also offers its proprietary Unitrader platform, designed to provide a seamless trading experience for clients.

Both platforms are accessible via desktop and mobile devices, ensuring traders can manage their accounts and execute trades on the go. The MT4 platform supports automated trading through Expert Advisors (EAs), allowing traders to implement custom trading strategies effectively.

Additionally, Bmfn provides a web-based trading platform, enabling clients to trade directly from their browsers without the need for software installation. This flexibility caters to various trading styles and preferences.

The broker employs a Market Making execution model, ensuring efficient trade execution. The trading infrastructure is supported by reliable servers, enhancing the overall trading experience. Bmfn also offers API access for clients interested in algorithmic trading.

5. Account Types and Trading Conditions

Bmfn offers a variety of account types tailored to meet the needs of different traders. The primary account type is the Standard Account, which requires a minimum deposit of $50. Key trading conditions include:

  • Spreads: Variable spreads starting from 2 pips.
  • Commission: No commission on trades.
  • Leverage: Up to 1:400 for forex trading.

In addition to the standard account, Bmfn provides specialized accounts for different trading strategies, including options for Islamic accounts compliant with Sharia law. The broker also offers a demo account for traders to practice their strategies without risk.

The minimum trading size is set at 0.01 lots, allowing for flexibility in trade execution. Bmfn's overnight fees and margin call policies are designed to accommodate various trading strategies.

6. Fund Management

Bmfn supports multiple deposit methods, including:

  • Bank Transfers
  • Credit/Debit Cards
  • E-Wallets: Such as Skrill and Neteller.

The minimum deposit requirement varies depending on the account type, with a standard minimum of $50. Deposits are typically processed within 24 hours, while withdrawals may take 3 to 5 business days depending on the method used.

Bmfn does not charge fees for deposits; however, withdrawal fees may apply, particularly for bank wire transfers, which incur a $50 fee. Other withdrawal methods generally do not have associated fees but may be subject to third-party charges.

7. Customer Support and Educational Resources

Bmfn provides a range of customer support channels, including:

  • Email
  • Phone Support
  • Live Chat

The support team is available 24/5, covering major trading hours. Bmfn offers assistance in multiple languages, including English, Arabic, Spanish, Vietnamese, and Chinese, which enhances accessibility for a diverse clientele.

In addition to customer support, Bmfn provides educational resources such as webinars, tutorials, and market analysis reports to help traders enhance their trading knowledge. The broker also offers various trading tools, including calculators and economic calendars, to assist traders in making informed decisions.

8. Regional Coverage and Restrictions

Bmfn serves a global client base, with a presence in over 150 countries. However, the broker has specific restrictions, prohibiting services to clients from the United States, Canada, Australia, Belgium, Turkey, and Japan.

The broker's regional offices are strategically located to provide localized support, ensuring that clients can access assistance in their respective regions. Despite its broad reach, potential clients should be aware of the regulatory limitations and ensure compliance with local laws before engaging with Bmfn.

In conclusion, Bmfn presents a comprehensive trading platform with a variety of instruments and competitive trading conditions. While it offers robust services, potential clients should conduct thorough research and consider the regulatory environment before opening an account.

Latest Reviews

FXTM 富拓

FXTM 富拓

Hong Kong

It can be clearly seen from the BMFN website https://www.ebmfn.com/ that the platform has issued a notice of restructuring and announced the withdrawal from the Chinese foreign exchange market, but there are many doubts. I understand that a normal company or platform vendor’s reconstruction will not affect customers normal deposit or withdrawal or related transaction operations. However, the customers of BMFN platform reported that they can't withdraw, which is not difficult for us to see the seriousness of the problem. If it is a formal platform or a company, as long as the official website can be opened normally, even if it is facing a crisis of bankruptcy, it will not restrict or interfere with the customer's deposit and withdrawal operations. This behavior of the BMFN platform is a serious illegal operation.

Exposure

2018-03-02

FX8879888274

FX8879888274

Hong Kong

My account number:77385829 I applied for the withdrawal on March 28th,2018,while it hasn’t been received yet.The email I sent was always said to be in the queue.On May 17th,my account was blocked,in which all my orders were cleared.The withdrawal was unavailable.And the note was equity wipe-out,which was DC PayWithdrawal before.the platform always replied to my email with “please wait patiently”,in a frivolous way.I want to ask whether it is legit.But the leader claimed that even the platform collapses,we will get a compensation of 50000 pound.Now he disappear.I require the platform staff deal the withdrawal process for me.It is all my hard-earned money with my family.There are no other sources of life. Now the bank loan is overdue.We are borrowing money to survive.Sincerely hope that you can help. BMFN's approach is too chilling,which hurt investors...

Exposure

2018-07-14

FX8879888274

FX8879888274

Hong Kong

My trading account is 77,385,829. I made an application for withdrawing money on March 28, 2018. The platform has not deducted the money from my balance and handle the application. Recently, I send them email but they always tell me to wait. On May 17, the Japanese platform suddenly locked my account and background, and closed the orders in my account, deducted $16,630 from the balance and cleared it. However, the funds have not been arrived my bank card, and the gold deduction note has also been made into parity wipe-out. The previous monthly withdrawal note is DC PayWithdrawal. I send emails from time to time every day requesting the platform to deduct the balance and remit to my card. But the platform uses the perfunctory words "patiently wait, wait for department approval, wait in line, etc." Is this reasonable, and the above-mentioned senior manager Wang Luchuan claimed that even if the platform was in trouble, we would have a compensation £50,000." But now she is missing. I hereby ask WikiFX help me to talk with BMFN’s person in charge, letting it to remit money to me. I believe WikiFX is an authoritative platform. Now the whole family’s hard-earned money is in it. There is no other source of income. Now the bank is overdue. Borrowing money everywhere to survive. I sincerely hope that you can help me. BMFN's doing is too chilling. Defraud investors... It has been half a year, and BMFN give my hard-earned money back! ! !

Exposure

2018-07-15

高倩

高倩

Hong Kong

I joined the BMFN agent in 2017.At first,the operation and the withdrawal were both normal.But the withdrawal ,$70,000 or so in total,was unavailable since 2018,Feburary.

Exposure

2019-09-03

FX6059266241

FX6059266241

Hong Kong

My account is 77374327. I applied for a withdrawal in March. The service told me I was in line. Later I heard about they will close their Shanghai office. They were delaying me. Now the only thing I can do it sending them emails. They keep me waiting instead of respond me. I can still trade, but I can’t withdraw. I know their Dubai office is running. So I hope WikiFX will help me settle this thing down.

Exposure

2019-01-04

汇盈天系统全国总部

汇盈天系统全国总部

Hong Kong

Come and join us.

Exposure

2018-10-16

BMFN Forex Broker has an overall rating of 1.62, Regulatory Index 0.00, License Index 0.00, Business Index 7.84, Software Index 4.00 Risk Control Index 0.00.