Curious to find out if Bforex is a scam or legit?. That’s OK, because you have to know whom you are doing business with.
Bforex is a forex brokerage site that provides the platform for forex traders. It was established in 2007, to provide a platform for a wide range of commodities and stocks. However, their service is not available to some countries such as the US, UK, Brazil, Greece and Switzerland. They provide trading platforms such as PROfit platform and MT4.
You have to deposit real money before you can start trading. And their minimum deposit is about $200 that could be deposited instantly via wire transfer, master or visa card deposit and ewallet. So also you will be able to make a withdrawal when you make profit. I must say, their platform and tools are professionally designed; you will be able to set up a SL or TP whenever you open position. And you can also be able to initiate and stop a trade instantly without hiccup.
Do They Have Demo Account?
They do not have a demo account that would help newbies/prospective trader to try out their platform/service before venturing with real money. And I think this is not really good because many people would like to see how good their platform is before investing their hard earned money.
My Personal Experience and View
I used Bforex as my broker in the past to trade. And it all started as a legitimate and helpful site, because they will assign an account manager to you when you deposit money and ready to trade. As a matter of fact, your account manager will be calling you at all times to give you vital information on how to use their platform and how to trade.
And of course, an account manager was assigned to me immediately I deposited to my Bforex account. And usually, I would like to start small in order to know if trading with this broker is really what I want to do. So, I started with $200, and kicked off trading. And they also gave me 5 LOSS FREE trading opportunity, which means if l lose using this trading opportunities it won’t be deducted from my account.
However, I blew all the chances and nearly blew my start-up capital too, but my account manager called me one day and asked for my permission to open positions on my behalf and I said yes. He did, and it all ended in profit. To cut a long story short, I was able to turn around the start-up capital and made some profit. I was beginning to feel comfortable with this broker because I had about $500 in my account. Then my account manager started pressing for more money to be deposited in my account, I did not understand why. If I could build up my account gradually, why is the rush to put more money in my account? I told my account manager that I was satisfied with what I was making, even though he kept on pressing with every call he made.
Now the question is, why would they be so desperate for me to put more money in my account if I can build the little I have? One day my account manager advised me to open positions that eventually snuffed my account. I did not and still don’t understand why he would do that. And the most annoying thing is that he wasn’t really sorry for what happened, but had the gut to tell me to make another deposit in order to recover all the losses. I was mad with him and he tried to explain why I lost all that money.
Unfortunately, they are popping up all over the internet with all sorts of ads and BS. I still wonder why they are still thriving since 2007.
It is obvious that there is something not just right with Bforex. First, my personal experience with them has proven that. Secondly, when I decided to look them up on the internet, all I saw were negative reviews and comments from real people that have used their services. It is always similar complaints of some manager pestering them to deposit more money into their account. There were also tons of complaints concerning inability to withdraw and accounts being frozen by Bforex.
With all these, I have come to conclude that Bforex is not the broker you would want to use. To be honest, Alpari is one trusted broker I will recommend to anyone. Or better still, if you wish to make money online in some other way other than forex, then check out my #1 recommendation. You can still sign up to my 5 day lessons on how to generate $3000 every month.
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