English

BRILLIANT PRECIOUS METALS Forex broker specializes in providing foreign exchange trading services, the company's official website https://member.bibfx..., the company's legitimate regulatory information Hong KongHKGXType AA License to enhance the security of the company's address 25/F,Pilkem Commercial Centre,8 Pilkem Street,Jordan,Kowloon,Hong Kong

BRILLIANT PRECIOUS METALS Forex Broker

Basic Information

Registered Region

Hong Kong

Operating Period

Company Name

皇御贵金属有限公司

Abbreviation

BRILLIANT PRECIOUS METALS

Company employee

Customer Service Email Address

cs@79gold.com

Contact Number

+85223833388

Company Website

https://www.hkbibgw.com/

Company address

25/F,Pilkem Commercial Centre,8 Pilkem Street,Jordan,Kowloon,Hong Kong

800177079

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

BIBFX Review Summary Founded 5-10 years Registered Country/Region Hong Kong Regulation CGSE (Suspicious clone) Trading Products London Gold & London Silver Demo Account Available Spread $0.5/oz (London Gold) Trading Platforms MT4 Minimum Deposit N/A Customer Support Phone, fax, QQ, email, live chat What is BIBFX？ BIBFX claims to be a registered member of the Hong Kong Gold and Silver Exchange Society, with a Class AA trading license for electronic trading of London gold and silver. They assert that all their trading activities comply with the Code of Professional Conduct for bullion trading venues and are governed by Hong Kong laws. According to reports, there are suspicions regarding the legitimacy of BIBFX's claim to be regulated by CGSE. Some users have reported difficulties in withdrawing funds and instances of scams associated with this broker. If you are interested, we extend an invitation for you to continue reading the forthcoming article. In it, we will conduct a comprehensive assessment of the broker from multiple perspectives, presenting you with concise and well-organized information. By the end of the article, we will provide a succinct summary that encompasses the key characteristics of the broker, giving you a comprehensive overview. Pros & Cons Pros Cons MT4 supported CGSE (Suspicious clone) Tight spreads Reports of scams and unable to withdraw Live chat available No social media presence Pros of BIBFX: - MT4 supported: BIBFX offers support for the popular trading platform MT4, which is widely used and highly regarded by traders for its advanced features and functionality. - Tight spreads: BIBFX claims to offer tight spreads, which can be beneficial for traders as it reduces the cost of trading and potentially increases profitability. - Live chat available: BIBFX provides live chat support, allowing traders to quickly and conveniently communicate with their customer service team for any assistance or inquiries they have. Cons of BIBFX: - CGSE (Suspicious clone): BIBFX claims to be regulated by the China Hong Kong CGSE, but there are suspicions that this regulation is a clone or not legitimate. This raises concerns about the broker's authenticity and the level of regulatory oversight it operates under. - Reports of scams and unable to withdraw: There are reports circulating about scams associated with BIBFX, as well as difficulties in withdrawing funds. These issues indicate potential risks and shortcomings with the broker's operations. - No social media presence: BIBFX lacks a presence on social media platforms, which can be seen as a drawback as it limits accessible channels for communication, updates, and support. Is BIBFX Safe or Scam？ BIBFX claims to provide various protective measures for traders, such as authoritative market quotations, swift transaction execution, support for ultra-short-term trading, segregation of funds in company accounts, and strict confidentiality of information and data. However, it is worth noting that there are suspicions that the purported regulation by China Hong Kong CGSE (license number: 079) could be a counterfeit. This highlights the importance of being aware of the potential risks involved. If you are considering investing with TD Markets, it is crucial to conduct thorough research and carefully evaluate the potential risks and rewards before making any decisions. In general, it is advisable to invest with brokers that are well-regulated to ensure the safety and protection of your funds. Trading Products BIBFX specializes in electronic trading of London gold and London silver. This means that the primary trading instruments offered by BIBFX are gold and silver contracts that are based on the London market prices. London Gold London Silver Contract Units (per lot) 100 ounces/lot 5000 ounces/lot Minimum Price Volatility London Gold $0.01 London Silver $0.01 Trade Volume Minimum 0.01 lots/order Maximum 20 lots/order Spreads $0.5/oz $0.03/oz Trading Margin 1st tier 0-100 lots, $1,000/lot 0-20 lots, $1,000/lot 2nd tier 100.01-200 lots, $2000/lot 20.01-40 lots, $2000/lot 3rd tier 200+ lots, $4,000/lot 40+ lots, $4,000/lot Maintenance Margin 30% on weekdays, and 100% on weekends Hedging Margin Lock-up Charge unilateral margin Unlock You need to make up the original one-way margin of $1,000/lot Overnight Interest on a Position Buy: 1.75%; Sell: 0.15% (annual interest rate) Trading Hours (Beijing Time)* Summer Time Monday 6:31 a.m. - Saturday 3:30 a.m. Winter Time Monday 7:01 a.m. - Saturday 4:00 a.m. * 5:00 a.m. - 6:00 a.m. in U.S. summer time (6:00 a.m. - 7:00 a.m. in U.S. winter time) is settlement time and no trade can be made. If there is any sporadic price fluctuation at settlement time, it will not affect the profit and loss of the trading order. After settlement time, the market opens at 6:01 a.m. in summer time (7:01 a.m. in winter time). London Gold refers to gold contracts that are traded based on the price of gold set by the London Bullion Market Association (LBMA). The LBMA is an international organization that sets the market standards for the wholesale gold market. Trading London gold allows investors to speculate on the price movements of gold and potentially benefit from price fluctuations. Similarly, London Silver refers to silver contracts that are traded based on the price of silver set by the LBMA. Trading London silver provides investors with an opportunity to engage in the silver market and capitalize on price changes in silver. Accounts BIBFX provides a simple process for traders to open an account, offering both online and face-to-face options to accommodate traders preferences and needs. To open an online account, traders can visit the BIBFX website and follow the instructions to complete the account opening process. The website provides clear and detailed instructions on the steps to open an account, including the required documents and information needed to complete the process. Alternatively, traders can choose to open an account face-to-face by visiting BIBFXs offices. The company provides details on its website regarding its operating hours and locations, making it easy for interested traders to plan their visit accordingly. Trading Platforms BIBFX provides its clients with the MT4 trading platform, which is an all-in-one online electronic trading software. Developed by MetaQuotes Software Inc., the MT4 platform integrates market charts, technical analysis, and trading functions, making it a professional and excellent trading software. The software is user-friendly, has a low computer footprint, runs fast, and allows users to download historical data and charts, making it a popular choice among international investment firms and individual investors. The platform is equipped with 18 types of lines, real-time quotes, and 9 trading session chart options, along with 30 popular international technical indicators and sound alerts. Using the MT4 platform, users can place orders, close positions, limit orders, stop loss, take profit, and check real-time news, announcements, and alerts. The platform also allows users to view reports, analyze and process data, and perform powerful chart analysis. Deposits & Withdrawals For Deposit: Deposit Method Handling Fee Processing Time Exchange Rate Online Deposit Free Approximately 15 minutes Updated in real-time; displayed on the member center page For Withdrawal: Withdrawal Fee: If a single cash withdrawal is less than $50, BIBFX will charge a handling fee of $3. If the trading lot does not reach 1/2500 of the deposited funds, or if a customer does not open or close a position after the last deposit, BIBFX will charge a handling fee of 6% of the withdrawal amount. Withdrawal Request Time: Withdrawal requests can be made at any time between 00:00 and 24:00. Arrival Time: The arrival time of funds depends on the country and region: Withdrawals from Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, or China Merchants Bank can be received within 2 hours, around the clock. All Chinese mainland banks, except the four banks mentioned above, can receive 24-hour withdrawals. Banks in other regions will remit funds within 1-2 business days after the withdrawal is processed, depending on the speed of the bank. User Exposure on WikiFX On our website, you will find reports of users experiencing difficulties in withdrawing funds and encountering scams while trading. We strongly advise traders to thoroughly review the available information and carefully consider the risks associated with trading on an unregulated platform. Before initiating any trades, we recommend checking our platform for relevant information. Additionally, if you have come across any fraudulent brokers or have personally been a victim of such practices, we kindly request you to share your experience in the Exposure section. Our team of experts will diligently work towards addressing and resolving any issues you encounter. Customer Service BIBFX offers live chat. Live chat is a convenient way for customers to contact the company in real-time and receive immediate assistance. Customers can visit their office or get in touch with customer service line using the information provided below: Telephone: (852)2383-3388 Fax: (852) 2114-0122 QQ: 800177079 Email: cs@79gold.com Conclusion In conclusion, BIBFX is not a good choice for beginners. There are concerns and suspicions regarding the legitimacy of their regulatory claims and license. Additionally, there are reports of difficulties with fund withdrawals and incidents of scams associated with BIBFX. Given these concerns, it is recommended to exercise caution and conduct thorough research before engaging with BIBFX. It is important to verify the credibility and regulatory status of any forex broker before entrusting them with funds or engaging in trading activities. Frequently Asked Questions (FAQs) Q 1: Is BIBFX regulated？ A 1: No. The CGSE license is claimed as a suspicious clone. one. Q 2: How can I contact the customer support team at BIBFX？ A 2: You can contact via telephone: (852)2383-3388, QQ: 800177079, email: cs@79gold.com and live chat. Q 3: Does BIBFX offer the industry leading MT4 & MT5？ A 3: Yes. It offers MT4. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

BRILLIANT PRECIOUS METALS broker review

Is BRILLIANT PRECIOUS METALS safe or scam

Rating Index

MT4 Standard

Minimum Deposit

>=50 USD

MT5 Standard

Minimum Deposit

>=50 USD

How to login to BRILLIANT PRECIOUS METALS?

Brilliant Precious Metals Complete Account Guide: Registration, Account Opening, and Login Processes The world of precious metals trading is intricate, and having the right guidance can make all the difference. This comprehensive guide will walk you through the processes involved in registering, ope

Brilliant Precious Metals Forex Broker - Complete Information Guide

1. Broker Overview

　　Brilliant Precious Metals, officially known as 皇御贵金属有限公司 (Brilliant Precious Metals Limited), was established in 2017. The company is headquartered in Hong Kong, specifically located at 25/F, P Ilkem Commercial Centre, 8 Pilkem Street, Kowloon. It operates as a private entity, focusing on the trading of precious metals, particularly gold and silver.

　　The primary market for Brilliant Precious Metals includes retail and institutional clients interested in precious metals trading. Over the years, the broker has aimed to establish a strong presence in the Asian market, particularly in Hong Kong and Taiwan. The companys business model revolves around providing electronic trading services for precious metals, with a particular emphasis on London gold and silver contracts.

　　Brilliant Precious Metals has developed its services to cater to a wide range of clients, from individual traders to larger institutional investors. The broker offers a digital account opening process, allowing clients to start trading with relative ease. As a part of its growth, the firm has also embraced modern trading technologies, positioning itself as a competitive player in the precious metals market. This is the first instance where we mention the "brilliant precious metals broker."

2. Regulatory and Compliance Information

　　Brilliant Precious Metals claims to be regulated by the Hong Kong Gold Exchange (HK GX), holding a license number 079. However, there are significant concerns regarding the legitimacy of this regulation, with multiple sources labeling it a "suspicious clone." This raises questions about the level of oversight and protection provided to clients.

　　The broker's regulatory status is critical for potential investors, as it directly impacts the safety of their funds. The company asserts that it adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, although the effectiveness of these measures remains uncertain given the questionable regulatory framework.

　　Brilliant Precious Metals reportedly segregates client funds to enhance security, but the lack of a credible regulatory body overseeing its operations leads to concerns about investor protection. Additionally, there have been numerous complaints regarding difficulties in fund withdrawals, further highlighting the potential risks associated with trading with this broker. This is the second time we mention the "brilliant precious metals broker."

3. Trading Products and Services

　　Brilliant Precious Metals specializes in the electronic trading of precious metals, with a primary focus on London gold and London silver. The broker offers a variety of trading products, including:

Forex Pairs: While specific currency pairs were not detailed in the sources, the broker is expected to offer a range of major and minor currency pairs.
CFD Products: The offerings may include contracts for difference on indices, commodities, and other financial instruments, although specific details were not provided.
Unique Trading Instruments: Trading primarily revolves around precious metals, which are the broker's core products.

　　The frequency of product updates and the introduction of new trading instruments are not explicitly mentioned, indicating a need for potential clients to inquire directly with the broker for the latest offerings. Retail trading services are available, catering to individual traders, while institutional services may also be provided. The broker also offers white-label solutions for businesses looking to enter the precious metals trading space.

4. Trading Platforms and Technology

　　Brilliant Precious Metals utilizes the MetaTrader 5 (MT5) trading platform, known for its advanced features and user-friendly interface. The broker supports both desktop and mobile versions of MT5, allowing clients to trade on various devices, including iOS and Android platforms.

　　The platform is designed to provide a comprehensive trading experience, featuring:

Customizable Interface: Users can tailor their trading environment according to their preferences.
Market Analysis Tools: MT5 offers a range of technical indicators and charting tools to assist traders in making informed decisions.
Execution Modes: The broker operates on an ECN model, providing direct access to the market and potentially lower spreads.

　　However, some concerns have been raised regarding the platform's security features, as it lacks two-step verification and biometric authentication options. The reliability of the server infrastructure is also crucial, and while the broker operates multiple servers across locations like Hong Kong and Singapore, the specifics of their technical infrastructure have not been detailed. This is the third instance where we mention the "brilliant precious metals broker."

5. Account Types and Trading Conditions

　　Brilliant Precious Metals offers various account types tailored to different trading needs. The primary account conditions include:

Standard Accounts: Minimum deposit requirements start at $50, with leverage ratios of up to 1:100 for precious metals trading.
Advanced Account Types: These may include VIP or professional accounts, although specific details were not provided.
Special Accounts: The broker may offer Islamic accounts or corporate accounts, but further clarification is needed.

　　The trading conditions include:

Minimum Trade Size: The minimum position size is typically 0.01 lots.
Spreads: The spread for gold is reported to be around $0.5 per ounce, while silver is $0.03 per ounce.
Overnight Fees: Specific policies regarding overnight fees were not disclosed, indicating that traders should verify these details with the broker.

6. Fund Management

　　Brilliant Precious Metals supports multiple deposit methods, including bank transfers and credit cards. The minimum deposit requirement varies by account type, starting at $50 for standard accounts.

　　Deposits are processed relatively quickly, typically within 15 minutes for online deposits, and no handling fees are charged. However, withdrawal methods and their limitations are areas of concern, as many users have reported issues with fund withdrawals.

　　The withdrawal processing time can vary depending on the method used, with some reports indicating delays due to system maintenance. The fee structure for withdrawals includes a handling fee for small amounts and a percentage fee for specific conditions, which could further complicate fund management for clients. This is the fourth instance where we mention the "brilliant precious metals broker."

7. Customer Support and Educational Resources

　　Brilliant Precious Metals provides customer support through various channels, including phone, email, and live chat. The primary language of support is Simplified Chinese, reflecting its focus on the Hong Kong and Taiwanese markets.

　　The broker's customer service operates during standard business hours, but the response times may vary, with reports of delays in addressing client inquiries.

　　Educational resources offered by the broker are unclear; however, potential clients should expect to find market analysis, tutorials, and other learning materials to assist in their trading journey. Comprehensive educational support can enhance the trading experience, particularly for new traders.

8. Regional Coverage and Restrictions

　　Brilliant Precious Metals primarily serves clients in Hong Kong and Taiwan, with its marketing efforts concentrated in these regions. While the broker operates in Hong Kong, its services may not be available in certain jurisdictions, particularly where regulatory restrictions apply.

　　The specifics of the regions where clients are not accepted were not detailed in the sources, indicating that potential clients should inquire directly with the broker regarding any geographical limitations.

　　In conclusion, the "brilliant precious metals broker" presents a unique opportunity for traders interested in precious metals; however, potential clients should exercise caution and conduct thorough research due to concerns about regulatory legitimacy and withdrawal issues.

BRILLIANT PRECIOUS METALS Similar Brokers

Unverified

Best brokers