Bofu Forex Broker

General Information& Regulation NOBEL FORTUNE WORLDWIDE LLC （“Bofu”) is a financial services provider focused on Internet trading. The company is registered in the National Futures Association (NFA), with the Regulatory No. 0538843. It should be noted that there are reports that the regulatory status of Bofu is abnormal and the NFA has published the status as unauthorized. Market Instruments Bofu offers investors a range of financial instruments, including trading products in Forex, precious metals, natural gas, crude oil, agricultural commodities, indices and stocks. Leverage & Spreads Users can trade 26 currency pairs at NOBEL FORTUNE, with 10,000 currency units at a time. According to the website, the leverage offered by the broker ranges from 1:100 to 1:500. NOBEL FORTUNE will charge a certain spread for Forex trading, with a reference spread of 1.8 for EUR/USD, 1.7 for USD/JPY and 2.2 for USD/CAD. Fees Bofu charges clients margin for different trades, including Intraday Initial Margin, Intraday Close Margin, and Weekend Close Margin. For example, for EUR/USD forex trading, the above margin requirements are 0.20%, 0.04%, and 0.08% respectively. In addition, Bofu also sets the overnight interest (buy/sell), where the overnight buy interest for EUR/USD is -3.2% and the overnight sell interest is 0.10%. Trading Platform Bofu has its own web-based trading platform, which officially states that clients can log in and check their trades without downloading. At the same time, the broker offers an APP client support - Bofu Stock Index, providing customers with an integrated investment trading platform. Deposit & Withdrawal Bofu only accepts deposits/withdrawals from the account's own bank card. However, if the withdrawal amount is less than 50 USD or the total transaction volume does not reach 50% of the total deposit amount, a corresponding fee of 3 USD and 6% of the withdrawal amount will be charged as commission. Trading Hours Clients can use the client portal and website at any time, but trading hours depend on the specific market. For example, Forex can be traded from 06:00 on Mondays to 04:45 on Saturdays during daylight saving time and 07:00 on Mondays to 05:45 on Saturdays during winter time. Daylight saving time Tuesday to Friday 05:00~05:15 and winter time Tuesday to Friday 06:00~06:15 are closed. Restricted Areas Bofu does not specify which countries it accepts traders from, but the company specifically states that it does not provide services to citizens/residents of the United States and Hong Kong, China.