BForex.com Review

Scam!
1.19 • 55 REVIEWS
Out of business
Updated: Aug 15, 2022
Is this your company?
BForex is a forex broker. B Forex offers the WebTrader and Mobile forex trading platform. BForex.com offers over 40 forex currency pairs, cfds, oil, gold, silver and other metals for your personal investment and trading options.
January 28, 2014: The French AMF has issued a warning about unauthorized forex brokers. BForex.com is on that list. CLICK HERE to verify.

October 13, 2010: The FPA Investigations Committee has confirmed a scam complaint against BForex.  This broker is now blacklisted by the Forex Peace Army.

We recommend against depositing funds with BForex.com.  If you have an account with them, we recommend that you try to withdraw all of your funds immediately.

April, 2013:  The BVI FSC has issued a Cease and Desist Order against BForex.  CLICK HERE to verify.

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

Scam!
1.19 • 55 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?
Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

R
raymond
benin city, Nigeria,
May 15, 2014,
Guest

i have been trading with this broker for 5 months now.i understand they always discourage people for withdrawing and their market analysis is not tight.i have not had any problem with withdrawing.withdrawing comes in 3 days after approval of your request.if you understand the market and also work with other broker analysis bforex remain the easiest for me
D
Dhiraj
Ranchi, India,
Mar 27, 2014,
Guest

Withdrawal USD 829.15 from bforex trading account was done on August 2013 and from then onwards I have been trying my best from my ICICI bank to bforex, I have all the trailing emails.
E
Eyad Soltan
Doha, Qatar,
Nov 12, 2013,
Guest

I lost all my deposits made from May 2013 of $61,000 in good faith because of bad advice, negligence and false promises. Since July 2013 no one from Customers Service bothered to respond to complaint and claim for compensation.
M
Marco Aurelio Ferreira
Andorra, Andorra,
Nov 8, 2012,
Guest

I received some times spam from a sir Called XXX Perales. I emailed him 2 times. The first he didnt answer me and the second he said me that he cant remove me from his list. I said hem i had a bad day and like to be relaxed. Please remove my data from your server and he denounced me by the acusation. He said my email cant be removed and i f i wouldnt like to receive more emails, i need to add him to spam list. Thats the answer he gives me.
D
Dib matar
beirut , Lebanon,
Aug 29, 2012,
Guest

its the most bad country i saw it and im not posting this because they scammed me but to let people who want to learn and make money to avoid this company,first they have bad server when u r trading the server will come down and ur system will close first time when happened i thought that maybe bcus of bad conection but actually i was opening other websites and it was working normaly,second day i start trading and the same problem happened, i called my broker to tell her about the problem she answer me yes the server is down from here and we are working on it(so r u thinking if someone was trading with 1000000 $ and happen somthing like this, how much he ll loose so its better to not start with this company) and i have video's to aprove this, anw he called me the manager ans he was very sorry about wat happen and he take a decision to give me back money to my account balance but actually he did not he only gave me bonus,and this bonus its my right bcus i fund 1500 $ and she ask me if i want bonus i told here no bcus i need to make big profit to withdraw my bonus,soo i decide to change my company and i told them that i need to withdraw my money but not all my money bcus i want to get back my profits while im waiting i made a registration in other company and this new company start send me analysis, and the analysise was very different from bfores for example i was trading in cld oil, the new comapny tell me that the price will raise and bforex tell me that the price will come down i did wat my new company said and i made big profits, the nex day also i plan to walk with the new company analysise,i sell my lots ,bfores send that u have to close them bcus the price will raise i called my broker i told her but the price is coming down she told me dont worry will raise i continued closing my lots and buy and the price became more down and down down and i lost 600 $, i sent her a msg to tell her wat happen she didnt replied and sent me an email about other analysise and didnt answer me ,as i see this company its big scammer it only care to fund ur money,u loose u they dont care only they care about your money,and sorry if im talking in bad point about this company and i should bcus of people who is interesting to trade and they have few money i advice them to not trade in bfores bcus they ll them
G
Gg
spain,
Aug 10, 2011,
Guest

i would advise do not put 1$ or more to trade at BFOREX.COM if u want to loose yr money .They are not interested in yr trades only in yr money.
Y
Yong
Singapore,
Mar 24, 2011,
Guest

Bforex holds its client funds at DBS Singapore, a rock solid Singapore bank strictly regulated by the country's Monetary Authority.
The moral of the story: Don't trust a broker just because of the reputation of its banker. Do your own checks, and read the FPA reviews for goodness sake.

2010-11-28 1Star I opened a Bforex account in Sep 2010. Their PROFIT platform is dreadful, very CPU-intensive. Then in fast markets, I got this error message "There was an error in opening position. The quote has changed. Please try again." Compare this to their claims on their webpage "Fast execution and no slippage, No re-quotes ever!" What a joke!

So I decided to switch over to their MT4 platform. About this time, there was a confirmed SCAM finding against Bforex in FPA, So I decided to play safe and withdraw all my funds. I submitted my withdraw funds request on 13 October 2010, and received my funds on 29 October, after 16 DAYS! Compare that to their claims on their website of "Superfast withdrawals!" If this is superfast, I dare not imagine what is slow!

What is worse is that after I submitted my withdrawal request, I was harrassed by my Account Manager. He kept emailing to ask me why I did not want to trade and make money. Then he emailed this to me:
Bforex [ I WILL NEED YOU TO SPEAK TO ME ON THE PHONE IN ORDER TO PROCESS THE WITHDRAWEL. VERY STRANGE, CANNOT REACH YOU AND DON'T KNOW YOU
PLEASE CONTACT THE DEALLING ROOM tel +41-22-533-1268
AND ASK FOR ME ] Bforex

I did not like the rude tone and accusations. This is what I replied:
Yong [ helo bforex. i am not pleased with this. why you hassle me when i make a withdraw funds? i deposit by bank wire, you transfer back to my same bank. what is the problem??
you are wrong, you have called me before and we spoke on phone once. so has your colleage alejandro called me twice before. so do not say "very strange".
now u want to call me on my phone that i think need to get repaired. anyway it is my spare phone number only and i do not give my main phone number to outsiders. i try to call u on the number you gave me but it does not work. you better check it.
i have sent you all the documents and u already said it was all right in the earlier email. i think u had better return me my funds without any further delay or requests.
that is all i have to say. ] Yong

It is a relief to me that I managed to get my funds back. And further confirmation of the good work FPA has done to highlight all these SCAM brokers. If you want to risk putting your money with SCAM brokers, you have only yourself to blame if things go wrong.
H
Has
Australia but currently in KSA ,
Dec 3, 2010,
Guest

I have been scammed from Bforex , I started to trade with 4500 and they promise to give me a 10% of what I deposit after that I started trading but when I ask to withdraw my money they said you have no right to do that and you have to sign a contract, then they said if you want your money now you should sign the trading contract and when I just ask for my capital or my starting fund the 4500$ they said okay just sign the trading contract to give you your money back even that I do not want to trade with them anymore and I just want the money that I deposit but I was lucky that I ask my bank in Australia that I have been scammed and I want my money back and I got my money back in 3 working days thats why Australia is special I love Australia.
A
Alex
Canada,
Oct 11, 2010,
Guest

I was very surprised to see so many negative reviews posted. I have been trading with Bforex for about 4 months now. I was put onto the platform after graduating from a Forex training school in Toronto. So far i have had good results using the platform. I am new to Forex trading, but i have no complaints about the platform to date. I have used both Profit and MT4 they offer. It took about 1 week to receive my first withdraw of profit after having traded on a trading credit i received. It was directly wired to my Bank account. i had to submit all the compliance documentation they requested before they would wire the funds, but i think this is standard on all platforms. I will re-post if my experience with them changes.
I
UK,
Aug 25, 2010,
Registered user

Issue escalated to Traders Court FPA Scam Confirmation against BForex.com | GUILTY
2010-10-13 The FPA Scam Investigations Committee has confirmed this complaint.

I would like to respond to the two points you mentioned implying my trades were illegitimate:

1) Your terms and conditions define scalping as the following:

Any transaction closed within 120 seconds from opening time shall be regarded as "Scalping".

I respect your definition of scalping and have honoured this during all my trades placed with all Bforex companies. All my trades have been open for longer than 120 seconds - therefore I was not scalping hence all trades were legitimate and honoured your trading agreement.

2) I appreciate we do not live in a perfect world and system errors do occur. However, Bforex claim to be a professional organisation where technical errors must be kept to an absolute minimum. If you said to me that 1% of my trades were affected by technical errors in the system I would accept this considering humans and computers can and do make mistakes. For you to say all my trades were affected by technical system errors over a six month period is absurd. For every trade I placed with Bforex I received online trade confirmations, which neither I or Bforex ever disputed. Therefore, the trades were agreed on by both parties.

Every email I sent was ignored as I never received a response. I then tried to make contact via the online chat. As soon as I mentioned my name and account number I was immediately disconnected. This occurred on a number of occasions, such behaviour is totally unprofessional. I was therefore left with no alternative but to file a complaint with FPA.

I have not profited by scalping or technical errors. All trades were open for more than 120 seconds. It is impossible for all my trades to be affected by technical system errors.

Forex Peace Army is the no.1 independent, unbiased Forex review website. Your reputation will not be judged by one negative review but by the collecting rating you attain on this website. Unfortunately, your statistic claiming 99% of Bforex's clients are satisfied with your service is not reflected in the reviews.

2010-05-28 Scam Under Investigation
Bforex = SCAM
Bforex will temp you to make large deposits by offering huge bonuses. I used a breakout strategy to make good profits. If you are profitable and ask to withdraw money they will freeze your account. I was told I manipulated their platform - when I queried this I received no response.

I contacted my lawyer who required details of all my trades and the Broker's details. I contacted Bforex for their regulation license details - again - no reply.

Bottom line is if you make profits with Bforex, they will freeze your account once you ask for a withdrawal. You will not only lose your profits but also your deposit. Bforex is not a regulated broker, it is the biggest SCAM broker around.

FXGM and ForexCT are the same company - they will also deny you withdrawing profits, but you might have a chance receiving compensation from FSAASICCYSEC because FXGM and ForexCT are regulated.
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