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BSFX Forex Broker provides real users with * positive reviews, * neutral reviews and 5 exposure review!

BSFX Broker Review

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BSFX Review 5

Latest All(5) Exposure(5)
Exposure
BSFX deceived my hard-earned money of 25336.664 RMB

The salesman "Zhang Lin" of BSFX took the initiative on the matchmaking website to induce me to do forex investment with him,saying that he earned 400,000 in half a year by invseting1 million and sending the profit screenshot every day.He also said that 30% bonus will be sent as long as I deposit money,boasting the backing force was Peking University with fund security guarantee.I couldn’t resist the temptation and entered the order recommendation group(QQ848970014);2.Teacher Chen registered account,install the quotation software for me and helped me deposit $20000 by remote control,as well as giving order recommendation;3.Due to the $658 losses of the first two orders,I required to end the trade.At this time,the liar "Zhang Lin" advised me to hand over the account to his friend to help me operate, and said that the his income "20-30%" every three months.With his repeated lobbying, I handed over the account password to him and his friend operated my account.He asked me to add $20000,saying that small fund was hard to operate.My total deposit was 40,000 US dollars(equals 253,366.64 yuan in accordance with the exchange rate at that time);Afterwards,the friend changed my password with the reason of trading secret strategy.I repeatedly asked for a password to view the account,which was rejected.Until March 10, 2017 (the account was liquidated), her disappeared and the account was canceled.The website was disabled.Now the police has filed a case for investigation.

doyoucallme
2019-01-11
Exposure
They manipulated my account to make me lose after I made a profit.

I bought short EUR ever since April 16th. Until May 22th, I traded 60 lots and earned 120000 RMB. On May 22th, their people manipulated my account and bought short 60 lots GBP/NZD and scammed all my money. Stay away from them!

FX4419386279
2018-08-29
Exposure
They abused me after failed to scam me.

They scammed people to trade GBP/XAU in their group chat and sent us making-profit screenshots. They manipulated our accounts. I didn’t listen to them. Don’t get yourself fooled.

FX8949468781
2018-08-29
Exposure
BSFX pocketed my fund of 45 thousand RMB

During November to December in 2017.I knew two teachers (teacher Qing and Alan) of 111 .With their temptation,I deposited more than 100 thousand RMB in total.With teachers’ giving order recommendation,I made a losses of 45 thousand RMB in total.I am suspicious that they have pocketed my fund.

FX9879385547
2018-08-03
Exposure
BSFX fraud platform defrauded me of more than 120000 RMB.

I saw an article written by a man called Cheng on Jinritoutiao and added his Wechat. He induced me to trade gold with him and promised me a 15% profit. I deposited $12500 on February 23th and traded entirely under his guidance. I lost a lot. Then he promoted me a middle class client and asked me to deposit 3071RMB. I lost again. I lost altogether over 81000 RMB. He asked me to deposit 39960RMB more to recover my loss. But I lost again. I’ve got only $511 now. This is a scam!

外惠唯权007
2018-03-30

  

BSFX 2025 Review: Everything You Need to Know

  In the realm of online trading, BSFX stands out as a controversial player. Despite its claims of offering a wide array of trading instruments and high leverage options, the broker has been marred by allegations of scams and a lack of regulatory oversight. This review will delve into the intricacies of BSFX, highlighting user experiences, expert opinions, and critical features that potential traders should consider.

  Note: It is essential to be aware that BSFX operates under various entities across different regions, which raises questions about its legitimacy. The information presented here is compiled from multiple sources to ensure fairness and accuracy.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 3
Trading Setup (Experience) 4
Trustworthiness 2
User Experience 3

  How We Rate Brokers: Ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's services.

  

Broker Overview

  BSFX, operated by Boisil Group Limited, has been in the market for approximately 5 to 10 years. Despite its longevity, it lacks proper regulation from reputable authorities such as the National Futures Association (NFA) or the Australian Securities and Investments Commission (ASIC). The absence of a valid license is a significant red flag for potential investors. BSFX offers trading on the popular MetaTrader 4 (MT4) platform, providing access to various assets, including forex, stocks, commodities, and indices.

  

Detailed Analysis

  

Regulatory Geographic Areas

  BSFX operates without regulatory oversight, which is a critical concern for traders. The broker has faced scrutiny due to its questionable practices and the absence of a legitimate regulatory framework. Users have reported issues regarding fund withdrawals and account management, further emphasizing the need for caution.

  

Deposit/Withdrawal Currencies

  BSFX supports multiple deposit and withdrawal methods, including bank wire transfers, credit/debit cards, and cryptocurrencies. However, users have reported withdrawal fees that vary depending on the method chosen, which can significantly affect the overall trading experience.

  

Minimum Deposit

  The minimum deposit requirement at BSFX is set at $100, which is relatively low compared to other brokers. However, the lack of regulatory oversight raises concerns about the safety of these funds.

  

Bonuses/Promotions

  BSFX has been known to offer various promotions, including bonuses for new deposits. However, these bonuses often come with stringent conditions that may hinder users from withdrawing their funds, a tactic commonly associated with fraudulent brokers.

  

Tradable Asset Classes

  BSFX provides a diverse range of tradable assets, including forex pairs, stocks, commodities, and indices. However, the lack of transparency regarding pricing and liquidity remains a significant drawback, as many users have reported manipulated trading conditions.

  

Costs (Spreads, Fees, Commissions)

  The broker offers variable spreads, starting from 0.5 pips on major pairs for standard accounts. However, users have expressed concerns about hidden fees and commissions that are not clearly outlined, which can lead to unexpected costs.

  

Leverage

  BSFX offers high leverage options, up to 1:500 on forex pairs, which can be appealing to traders looking to maximize their potential returns. However, such high leverage also increases the risk of substantial losses, especially for inexperienced traders.

  

Allowed Trading Platforms

  BSFX primarily utilizes the MetaTrader 4 (MT4) platform, which is widely recognized for its user-friendly interface and robust trading tools. However, there is limited information on the stability and customization options of the platform.

  

Restricted Regions

  BSFX does not accept clients from certain jurisdictions, which may limit its accessibility for some traders. This restriction often stems from regulatory issues and the broker's unregulated status.

  

Available Customer Service Languages

  Customer support at BSFX can be reached via email and phone, but the quality of service has been questioned. Many users have reported difficulty in obtaining timely assistance, which can be a significant drawback for traders.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 3
Trading Setup (Experience) 4
Trustworthiness 2
User Experience 3

  

Detailed Breakdown

  • Account Conditions: BSFX offers various account types, but the lack of regulatory oversight raises concerns about the safety of funds.
  • Tools and Resources: The MT4 platform provides essential tools for traders, but users have reported issues with its stability.
  • Customer Service and Support: Many users have experienced inadequate customer service, leading to frustration and dissatisfaction.
  • Trading Setup (Experience): The trading experience is marred by allegations of manipulation and hidden fees, making it less than ideal for traders.
  • Trustworthiness: The broker's lack of regulation and numerous complaints about scams significantly impact its trustworthiness.
  • User Experience: Overall user experience is mixed, with many expressing concerns about fund safety and withdrawal issues.

  In conclusion, while BSFX presents itself as a viable trading option with a range of assets and high leverage, the overwhelming concerns regarding its regulatory status and user complaints suggest that potential traders should exercise extreme caution. The lack of transparency, coupled with numerous allegations of scams, makes BSFX a broker that requires careful consideration before engaging.

BSFX review