BOGS Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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My account and all the links that can be observed are blank. It appears to me that I have no deposit or withdrawal, when it was not, I invested 600 pesos and made a withdrawal of 5400 pesos. In addition, customer support is down because they have a down network
The stop-loss price of XAU/USD slipped from 1981 to 1990.56.
Summary: BOGS Markets has garnered a predominantly negative reputation among users and analysts alike, with many labeling it as an unregulated and potentially fraudulent broker. Key concerns include misleading regulatory claims and poor customer service experiences.
Note: It is crucial to recognize the differences in regional regulations that may affect the operations of BOGS Markets. This review is based on a comprehensive analysis of multiple sources to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
We rate brokers based on user feedback, expert analysis, and factual data.
Founded in 2018, BOGS Markets claims to operate as a forex broker under the supervision of multiple regulatory bodies, including the National Futures Association (NFA) in the United States. However, according to various reviews, BOGS Markets is not a member of the NFA and lacks proper regulation, raising serious concerns about its legitimacy. The broker primarily uses the popular MetaTrader 4 (MT4) platform, which is known for its user-friendly interface and extensive trading tools. The asset classes available for trading include forex pairs, commodities, and indices, but the lack of regulatory oversight significantly diminishes the appeal of trading with BOGS Markets.
BOGS Markets claims to be regulated by the NFA and the Canadian MSB authority. However, sources like BrokersView and WikiFX have pointed out that the broker is unregulated. The Canadian MSB license does not apply to forex trading, and the NFA does not recognize BOGS as an approved member. This lack of regulation is a significant red flag for potential investors, who may find their funds at risk.
While specific details regarding deposit and withdrawal currencies are not extensively covered in the reviews, unregulated brokers often have limited options for transactions. Users should be wary of any hidden fees or unfavorable exchange rates, which are common in such platforms.
The minimum deposit requirement for BOGS Markets is not clearly stated across the reviewed sources, indicating a lack of transparency that can be concerning for potential traders.
BOGS Markets offers cashback promotions, claiming to provide rebates on trades. According to their marketing, these rebates can lower trading costs, but the legitimacy of such offers should be carefully scrutinized given the broker's overall negative reputation.
The broker offers a range of asset classes, primarily focusing on forex trading. However, the absence of regulatory oversight and the negative user experiences may deter traders from exploring these options.
The reviews indicate that BOGS Markets has poor pricing ratings, with spreads and commissions being unclear. This lack of transparency can lead to unexpected costs for traders, further complicating their trading experience.
Details regarding leverage offerings are not extensively covered in the reviews. However, unregulated brokers often provide high leverage, which can be risky for inexperienced traders.
BOGS Markets primarily utilizes the MT4 platform, which is widely recognized and offers various tools for traders. However, the platform's effectiveness may be undermined by the broker's questionable practices.
The reviews did not specify any restricted regions for BOGS Markets, but potential users should conduct their due diligence to ensure compliance with local regulations.
BOGS Markets provides customer support primarily in English, but reviews indicate that the quality of this support is lacking, with long wait times and unresponsive service reported by users.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: Users have reported a lack of transparency regarding account types and conditions, leading to confusion about trading requirements.
Tools and Resources: While MT4 offers various tools, the overall support for traders is minimal, with many users expressing dissatisfaction with the resources provided.
Customer Service and Support: The customer service experience has been rated poorly, with users citing difficulties in reaching support and slow response times.
Trading Experience: Many traders have reported issues with executing trades and withdrawal problems, leading to a frustrating trading experience.
Trustworthiness: The unregulated status of BOGS Markets significantly undermines its trustworthiness, with multiple sources labeling it a scam.
User Experience: Overall user experience has been rated poorly, with many users expressing concerns about the broker's legitimacy and operational practices.
In conclusion, the BOGS review indicates a broker fraught with issues that potential traders should consider seriously. The lack of regulation, poor customer service, and negative user experiences paint a concerning picture for anyone considering trading with BOGS Markets. Always conduct thorough research and consider regulated alternatives for a safer trading environment.
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