Uncertain about BSIFX.com platform? Is this broker a scam broker? Read BSIFX reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About BSIFX FX
BSIFX FX otherwise known as BSIFX.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about BSIFX.com Regulation
First of, BSIFX.com claims registered address to be in the UK and posts some contact details like phone number and email. To verify this, We searched the local financial authority Financial Conduct Authority (FCA) of the UK just to be completely sure and there was no data of BSIFX.
What’s more, BSIFX claims to have two more offices – in Turkey and in Egypt. We can assure you that this firm is not licensed there either.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Does BSIFX Have Account Types?
The broker offers different trading account for clients like Classic, Golden and VIP. According to the website, it offers a maximum leverage of 1:100 and a spread of 2.0 pips.
BSIFX minimum deposit is indicated $250 based on the account type. In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
There are presentation of variety of payment options such as credit cards like Visa/Mastercard, some e-wallets like Yandex, Money, QIWI and WebMoney, wire transfer and crypto transactions with Bitcoin, Ethereum and Tether.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
BSIFX Software – Is There a Trading Platform?
BSIFX openly claims its software VertexFX is the “most reliable platform”. We were not able to preview this software as we were asked to upload some personal documents like an ID image.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
BSIFX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that BSIFX.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
BSIFX located at BSIFX.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. From all indications, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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