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BeamFX.com Review

Overall Rating: (3.778)
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Total Reviews: 27
Last Updated: 2014-03-25
Special Notes:

IB for Institutional Liquidity

Website is down.  Company seems to be out of business.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2009-04-20
Review: We haven't tried using BeamFX.com as a forex brokerage. If you have traded forex with them, please leave a review.

BeamFX_Andrew, New York, USA

Rating: No Rating
Date of Post:2012-05-16
Review: Hello Everyone,

I just wanted to personally re-introduce ourselves as BeamFX is now under new management. We are currently an IB that introduces exclusively for "Institutional Liquidity" (ILQ). If you haven't heard of ILQ before you can check their website out here: http://ilq.com/ Our main goal is to have satisfied customers and we deal with any issues promptly. I will be checking the forums regularly and am looking forward to answering any questions that you guys may have.

Sincerely,
Andrew
www.beamfx.com

Beam Fx Management, NYC

Rating: No Rating
Date of Post:2010-12-22
Review: Sorry to see Brian has a bad impression of Beam FX. I wish he would have talked to us first to voice his displeasure because I'm quite sure we could have satisfied him.

First some important comments;

BeamFX is indeed an Introducing Broker and we introduce clients to carefully selected brokers in the US and abroad. Contrary to Brian's representations, IBs play a very important role in the market and we have worked very hard to put in place programs with different brokers to best satisfy the needs of our very diverse client base. So whether a client is in the US or elsewhere, uses Expert Advisors or not, needs a certain type of trading platform for his/her style, needs straight thru processing or looking for institutional spreads but only has a small account-we can help.

Most important, the comment about the spreads at our brokers are totally fabricated. Our clients have the best spreads available at each broker. While it is true that an IB gets paid out of the spread when they introduce to a broker, the payment comes out of the profits of the broker and in no way increases the spread that our clients trade on. If that were true, then there wouldn't be an Introducing Broker business-would there? Different brokers have different spreads but that is not and should not be the only consideration when choosing a broker. Spreads mean nothing if you get requotes and slippage. Either way, we absolutely have extremely competitive spreads.

All you have to do is call us and then compare. Something Brian clearly didn't take the time to do.

Thank you for your time.

Beam Fx Management

Be fair Brian. Please do not misrepresent our company. You have no basis for your comments.

Brian, usa

Rating:
Date of Post:2010-12-11
Review: What a waste dealing with these guys , their service has really tanked since I started trading with them in late July. First of all guys, they are a IB for Alpari, Forex.com and a bunch of other brokers. It makes no sense going through a IB your just going to get a higher spread

Several times I asked them about issues with my MT4 platform dropping connections and they were completely clueless on what to do. I think they changed staff since I started with them.


So basically at the end of the day all you are really getting is their spam emails asking you to sign up for education courses and a higher spread . The spread on my account is a whole PIP higher than the normal spread at Forex.com !!!

Stay Away, not sure what happened but the company really went down the hill after all the new rules and regulations kicked in, I guess the leverage restrictions really hit them hard as a U.S IB.

Jim, Texas

Rating:
Date of Post:2010-08-15
Review: I started using Beam because it was the recommended broker for an EA I was using at the time.
The people at Beam are great, super helpful. I called one day because I was having trouble downloading an EA on to the FREE VPS they provide and the customer service guy said that the problem was the security settings on the browser. He said that I needed to download Google Chrome and that would take care of the problem. He then said "you know, it can be a bit of a hassle to do that on the VPS, why don't I just do it for you?"
So, he did, while I was at work, and I was able to get my EA downloaded when I got home. That is service my friends.
BTW, it is my understanding that the problems that were mentioned about CMS, Beam's primary liquidity provider has caused them to change providers.

Oleg, NYC

Rating:
Date of Post:2010-08-04
Review: Last week CMS had problems with their computers for 2 days in a row.
I was furious, and could have sad some nasty things to beamfx reps, but they still kept their cool and professionalism, They gave me some ideas how to avoid this problem in the future, and worked with CMS to get me a credit for all my looses with in these 2 days.


I am a happy small fish in the sea
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jaleel, singapore

Rating:
Date of Post:2010-06-09
Review: same problem. Been a week since submittied withdrawal request. Yet to receive my money. Initially was fast and smooth. But now don't know what happen. Maybe too many clients open account with them and they have no time for old customers.Very disappointed

2010-04-18 04:36AM 4 Stars I have tried many brokers before but Beamfx is the best. Good spreads fast execution and withdrawal process is simple and takes 3days. Customers need not have to print out withdrawal form,scan it send it for withdrawal which at times is troublesome. All we need to do is fill out form online and click submit. That's it and you can see the money in your account within 3 days. Their customer support is also good

Travis, Florida

Rating:
Date of Post:2010-06-06
Review: Just wanted to let everyone know that beamFx is perfect for traders that are looking for a broker with the best customer service. I called them last week to help setup my VPS. Marcus helped me setup the platform, VPS and showed me how to use Live account . VPS is great , dedicated not shared . I accessed it while out of town and it was just as fast as being at home. Using my new scalper Ea and will keep everyone updated but so far off to a good start !

BeamFX Management, Chicago,IL

Rating: No Rating
Date of Post:2010-05-23
Review: Dear Mr Sterling,

The withdrawal process for credit cards takes 2 to 3 business days excluding holidays and weekends. Your funds were sent to your credit card and your credit card company has yet to process the credit or update your statement. This is very common for credit card deposits.

Before leaving a negative review consider the fact that BeamFX has had no negative reviews from its previous customers, stellar customer service and offers many free services/promotions to new traders. We also go the extra mile to make sure our customers are satisfied. Also consider the fact that you are leaving a negative review because your credit card company has not updated your account. We processed your withdrawal request in a timely manner; it is up to your credit card company to update your account not us.

If you have specific questions/concerns regarding your account
please email support@beamfx.com and we will be glad to assist you.

BeamFX Management
support@beamfx.com

Sterling, USA

Rating:
Date of Post:2010-05-21
Review: Stay away! I've been trying to close my account for a week and still haven't seen it. I get the same story - it's been processed, it takes 3-4 days. They can process a charge to your credit card in a day, but so far it's been a week since my request without a refund.
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