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BDFx.com (Bank Direct Fx) Review Visit site

Updated: Apr 14, 2017
3.34 · 15 REVIEWS
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NOTE:  The Government of Australia's ASIC regulator has placed Bank Direct Fx on their Companies You Should Not Deal With list.  CLICK HERE to verify.

CAUTION:  There is an FPA Traders Court guilty verdict against this BDFX.   The FPA recommends CAUTION dealing with BDFX unless these issues can be resolved.

BDFx.com (Bank Direct Fx)

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Case IDFiledCase nameVerdict
2015-0152015-01-28depst vs BDFX.comresolved
2014-1462014-09-15Amin EL-HAKIM vs bdfx.comguilty

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3.34 · 15 REVIEWS
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Manchester, United Kingdom,
Jan 15, 2017,
Guest

My name is Colin
I had funds invested with excelsior trading ltd on fxcm there customer support James advised me to move my funds to Bdfx.com as they had a new fund there I was told excelsior did not own Bdfx.com and my funds were safe this was a lie and Ryan o rouke is the managing director of both firms after 2 years with Bdfx stuck in open trades since then they closed my account and stolen my funds which was in a good profit they will not answer e mails phone calls etc. I belive Ryan o rouke and james and Benjamin Layton advised me to move my funds for then to steal my funds. If Bdfx.com Bankdirectfx excelsior trading ltd offer there services do not respond to Ryan o rouke or any one else from them. You have warned

Jan 10, 2017 - 1 Star My name colin
I have an account with Bdfx.com I have been trying to contact them for the last 2 weeks they closed my account and not returned my funds and will not take my calls have they gone out of business or is every one happy with they service from them

Sep 24, 2015 - 2 Stars Can anyone post here that bdfx .com is still in operation as I had one email from them this week about there being maintence on there site as I have sent them emails phone calls and they will not reply to calls about my funds with them

2015-09-22 5 Stars My computer and email was in fault everything fine with bdfx I apologise for the problems caused

2015-09-21 1 Star I cannot get my money out of bdfx can you help and is this broker still open
USA, USA,
Jan 28, 2015,
Registered user

Issue escalated to Traders Court depst vs BDFX.com | RESOLVED
I have put in 4 withdrawal of funds requests with BDFX and sent numerous emails. They have not replied to any of my emails or returned my funds. This is a scam company
, China,
Oct 17, 2014,
Registered user

BDFX have fully displayed the characteristics of a scam broker. Opened an account with them exactly one year ago with about 10k. Traded profitably gradually withdrawing my deposited funds. Then asked for a withdrawal of 4.5k and the scam games began. No reply for about a week. Thereafter the sent the following mail:

Hello Okehie:

Thank you for your message. Unfortunately, our department has regretfully identified account abuse having transpired in your trading account. Therefore, the remainder of your original deposit will be returned to you and your account permanently closed.

Sincerely,

BankDirectFX
Accounts Department

So please do not put your money in BDFX they have proven to be scammers. I did not subscribe to any of their bonus campaigns, nor was I scalping. They are still yet to explain what 'account abuse' means.

2014-10-06 1 Star Good spreads and execution. But having difficulties withdrawing funds. Put in a withdrawal request since 29 Sep14. Nobody is answering me on their support numbers, live chat or emails. Do not understand what is happening
Manchester, United Kingdom,
Sep 18, 2014,
Guest

This broker is one of the only ones I can run my EAs on (I'm an MQL Coder) and get VERY good execution.

My account manager (Jack) is always very quick to address any messages and I can receive w/d very quickly via my credit card reversal even.

They also give ALL traders a free VPS which shocks me as most brokers there is a "catch" or it's some c****y web-based VPS. ...not these guys I am happy to say!

I've been with literally all of the "BIG" brokers and several smaller shops to test spreads and execution and BDFX is in the Top 3 of over 20 brokers I have traded with on live accounts.

The reviews here from third-world countries are quite laughable in my humble opinion. I will continue trading with BDFX as I have since mid-2012. (About two years) very successfully.

Happy trades,
H.S.

Review Moderation Team Note: We wonder what sort of person would laugh at reviews just because of the country the review originated from.
Beirut, Lebanon,
Sep 15, 2014,
Registered user

Issue escalated to Traders Court Amin EL-HAKIM vs bdfx.com | GUILTY
This broker was questionable since day one, and here comes the answer, unless proven otherwise. So I opened an account
with this broker and posed a few questions before booming the account and they have confirmed being backed up by real LP and they allow all trading styles.

To cut the story short, I deposited and started trading to find the execution and spreads amazing. Floating spreads but
very nice. Many trades were around volatility, enduring by that the widened spreads and their execution is a market execution
hence the slippage. Everyone knows that when you're trading with a market execution, you order will be filled or filled, and
you are under the mercy of the market/broker/LP regarding the filling price. Moreover, the slippage was minimum 70% of the
time. I believe my average slippage was around 8 pips. I traded many strategies including after news, technical trades, and
using the famous EA KeltnerPro (KeltnerPro doesn't need my advertising as it's being tested right here on the FPA).
So the account grew and as many of you already know, there were substantial market movement especially on the Euro and Cable where a 10 lots trade bagged 160 pips in 2 days producing 16k of profit. Anyway, the account jumped over 50k and I noticed
that the leverage was overwhelming (I wasn't using it anyway), so I contacted the in good faith asking them if they were comfortable that my account had such leverage. In a couple of hours, they answered. It seems that BDFX considers too much profit account abuse. And their latest reply was offensive and threatening legal actions against a trader.
HCM, Viet Nam,
Aug 23, 2014,
Guest

Me>> Why my profit 785.37$ gone!? Please show me which term & condition of bonus for my profit loss when original deposit loss?!
I'm waiting from you!?

BDFX>> When you withdraw $2,000 you have withdrawn your original $500 deposit plus your original $1,500 deposit plus $100 profit. However, because you have removed your entire original deposit the entire credit bonus has been removed. Because you are no longer trading on original deposit or credit bonus, all funds must be removed.

Is that right? This is first time, I heard about that in life's trader

Please be careful with this broker!

2014-08-15 No Rating BDFX's brokers not good for me. Please don't trade with this brokers:
Me: I initial deposit 500$, i win 100$ then i withdraw 100$ so credit out 100$: http://gyazo.com/03e6d701d2de2c192ab5fc7a01fefda2
BDFX >> Yes.
Me: Then I continue deposit 1500$: http://gyazo.com/57638133c22523af78f6e9d9142d0175
BDFX >> Yes.
Me: I win continue 785.37$ then i withdraw 2000$ (include 1500$ second deposit plus 500$ profit why all profit and credit out? http://gyazo.com/342c44ae116dbb31f42e1cb65382766c
BDFX >> When you withdraw $2,000 you have withdrawn your original $500 deposit plus your original $1,500 deposit plus $100 profit. However, because you have removed your entire original deposit the entire credit bonus has been removed. Because you are no longer trading on original deposit or credit bonus, all funds must be removed.

They removed bonus and my profits. Is that right?

2014-08-01 5 Stars Great. This broker very good for news trading by robot. No requote, No slippage, spread and commission very slow, ... deposit and withdrawal very fast. I'm very happy.
HK, Hong Kong,
Jan 20, 2014,
Guest

I am always very impress with this broker because of quick execution and nice good customer support always when I need.
Also have lots of numbers for toll free call and chat support for quick access.

I will continue trade with broker for the good respect they treat me. Thank you
Brisbane, Australia,
Dec 31, 2013,
Guest

I have held a live account at this broker since 2012 and have been extremely impressed with them. Rule #1 of trading the markets is diversifying with lots of different trading strategies, brokers, etc. If only I could find a broker with as fast execution, great spreads, and friendly + PERSONAL support like BDFX. I'm very happy with this broker and will continue to trade with them for years to come I hope.
Auckland, New Zealand,
Dec 18, 2013,
Registered user

The first indications that not all was good with this company was in the Australian Securities and Investment Commision

website https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with

Here bankdirectfx has been direct calling Australian residents without the required liscence. This is a fair giveaway that

this could be a fraudulent organisation. I say COULD be.

The next step was to run the website through scamadvisor.com

The result was a 100% trust score with the domain age being 11 Years, 115 Days

However why was the first review on forexpeacearmy.com was 4th September 2013?

So I did a check on them using the followink link http://web.archive.org/web/20130203201800/http://www.bdfx.com/

This showed that on February 2013 the domain was for sale and bankdirectfx as a forex broker did not exist yet. Not even 1

year let alone 11 years 115 days.

Still not proof of any meaningfull desire to deceive.

Lets keep digging a bit further shall we?

The clincher comes on this page of their website https://www.bdfx.com/direct-interbank-access.html

Here they claim that their primary mt4 server is located London, UK and the secondary server located at Ny USA REALLY???

Sorry guys but that is an out and out lie. I downloaded their platform and navigated to where the server files are located

C:Program FilesBankDirectFX MetaTrader 4config and opened the live srv file ... the following IP address

(176.124.191.149:443)is the primary and ONLY live server. I entered that ip address into the following

http://www.geobytes.com/IpLocator.htm?GetLocation&IpAddress=176.124.191.149:443 and voilla WARSAW POLLAND is the location of

their ONLY server. Not London or New York or any where near the "Equinix LD5 and NY4 data centre facilities located in

London and New York City" as claimed on thier website.

No your hard earned money is residing on a Laptop somewhere in Warsaw!!! Bugger all slippage there!!

My advise get your money out NOW. Do not invest one cent with this bucket shop. You have been warned..
Melbourne, Australia,
Dec 10, 2013,
Guest

Before writing my review, I would like to say I have been trading FX since 2003 and have been all around when it comes to brokerages. I have worked with firms in London, New York, and here in Australia. I have seen complete bucket shop scams, and also institutional firms where the average account is $1M+.

Bank Direct FX is truly a Forex trader's dream.
This market (Spot FX as a whole) produces the worst odds imaginable versus Securities, Futures, etc.
If you have a broker that is working against in you in the slightest, any small edge you may/hope/wish you had is completely gone.

BDFX give me lightning fast execution, and VERY tight spreads -- Hence, this is a SCALPING-FRIENDLY broker.

The service is excellent, I also have their Free VPS which is basic but all I need... and they process W/D and Deposit slips in and out..money in my account.

Well done broker!! :)