Search

BMFN Forex Broker provides real users with * positive reviews, * neutral reviews and 6 exposure review!

BMFN Broker Review

1.60

WikiFX monitor

Business

Field Survey Danger

License

ASIC Suspicious Clone

BMFN Review 6

Latest All(6) Exposure(6)
Exposure
The withdrawal was unavailable.

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.

高倩
2019-09-03
Exposure
Can’t withdraw on BMFN. Give my money back!

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.

FX6059266241
2019-01-04
Exposure
Stable profit

Come and join us.

汇盈天系统全国总部
2018-10-16
Exposure
BMFN give my hard-earned money back! ! !

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! ! !

FX8879888274
2018-07-15
Exposure
Unable to withdraw in BMFN

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...

FX8879888274
2018-07-14
Exposure
Report! Unable to withdraw on BMFN!

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.

FXTM 富拓
2018-03-02

  

Bmfn 2025 Review: Everything You Need to Know

  The Bmfn review reveals a broker with a long-standing presence in the forex market, established in 1988. While it offers a variety of trading instruments and platforms, user experiences are mixed, with some praising its trading conditions and others raising concerns over withdrawal issues and customer support. Notably, the broker operates under varying regulations, which can impact the user experience depending on the trader's location.

  Note: It is essential to consider that Bmfn operates through different entities across regions, which may lead to varying levels of service and regulatory oversight. The information presented here aims to provide a balanced view based on multiple sources for fairness and accuracy.

  

Rating Overview

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 6
Trustworthiness 5
User Experience 4

  We rate brokers based on user feedback, expert opinions, and factual data from credible sources.

  

Broker Overview

  Founded in 1988, Bmfn (Boston Merchant Financial) is a forex broker headquartered in Vanuatu. It offers various trading platforms, including the widely-used MetaTrader 4 (MT4) and its proprietary UnitTrader. The broker provides access to a substantial range of tradable assets, including forex, commodities, indices, and ETFs. Bmfn is regulated by the Vanuatu Financial Services Commission (VFSC), which oversees its operations under license number 40202.

  

Detailed Information

  • Regulated Regions: Bmfn operates primarily in Vanuatu and has a presence in various countries, but it is restricted in regions like the United States, Canada, and the European Union due to local regulations.
  • Deposit/Withdrawal Currencies: The broker accepts deposits in multiple currencies, including USD, EUR, and AUD, but does not currently support cryptocurrency transactions.
  • Minimum Deposit: The minimum deposit required to open an account with Bmfn is $50, making it accessible to a broad range of traders.
  • Bonuses/Promotions: Bmfn does not currently offer any sign-up bonuses; however, it occasionally hosts trading contests and promotions.
  • Tradable Asset Classes: Traders can access over 20 forex pairs, commodities (such as gold and silver), indices, and ETFs through Bmfn's platforms.
  • Costs (Spreads, Fees, Commissions): Spreads are variable, starting from around 2 pips, with no additional commissions on trades. However, some user reviews indicate that spreads can widen significantly during volatile market conditions.
  • Leverage: Bmfn offers leverage up to 1:400, which can amplify both potential gains and losses for traders.
  • Allowed Trading Platforms: The primary trading platforms available are MT4 and UnitTrader, both of which provide various tools for technical analysis and automated trading.
  • Restricted Areas: Bmfn does not accept clients from the United States, Canada, Japan, and several other jurisdictions due to regulatory constraints.
  • Available Customer Support Languages: Customer support is available in multiple languages, including English, Arabic, Spanish, and Chinese, though some users have reported delays in response times.

  

Repeated Rating Overview

Category Rating (out of 10)
Account Conditions 6
Tools and Resources 5
Customer Service and Support 4
Trading Setup (Experience) 6
Trustworthiness 5
User Experience 4

  

Detailed Breakdown

  Account Conditions: Bmfn allows traders to open accounts with a minimum deposit of $50, which is favorable for new traders. However, the lack of tiered account types may limit more experienced traders seeking specialized services.

  Tools and Resources: While Bmfn provides access to MT4, which is known for its robust analytical tools, the educational resources appear to be minimal. Users looking for comprehensive training materials may find this lacking.

  Customer Service and Support: Customer service has received mixed reviews, with some users praising the responsiveness while others report significant delays in withdrawal requests and support inquiries. This inconsistency raises concerns about reliability.

  Trading Setup (Experience): The trading experience on Bmfn can be satisfactory, with reports of quick execution times. However, users have noted issues with platform stability during high-traffic periods, impacting their trading decisions.

  Trustworthiness: Bmfn is regulated by the VFSC, which offers some level of security, but the lack of higher-tier regulation can be a concern for some traders. Reports of withdrawal issues have led to questions about the broker's overall trustworthiness.

  User Experience: Overall, user experiences vary widely. While some traders report positive outcomes and smooth transactions, others have expressed frustration over withdrawal delays and customer service interactions.

  In conclusion, the Bmfn review indicates that while the broker has a long-standing history and offers a range of trading options, potential clients should proceed with caution. The mixed reviews regarding customer service and withdrawal processes suggest that traders should carefully consider their options and perhaps look for brokers with stronger regulatory backing and more consistent user experiences.

BMFN review