BForex.com Review

Scam!
1.19 · 55 REVIEWS
Updated: May 26, 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.

BForex.com
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.

Broker Details

Minimum Trade Size: Unknown
Maximum Leverage: 200:1
Minimum Deposit: $200
Established: Unknown
Address: 16 Pergamou Street 4006 Limassol, Cyprus
Customer Service: customer.service@bforex.com, +44 203 514 0458
Regional offices:
Regulations:
Prohibited countries: Unknown
Trading platforms: WebTrader, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (45+)
Cryptocurrencies:
CFD: (80+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, CASHU, Filspay, Neteller, OKPAY, PaySafe Card, Qiwi, RBK Money, Skrill, SOFORT, VoguePay
Withdrawal Methods: Bank Wire (Bank Transfer), VISA, MasterCard, CASHU, Filspay, Neteller, OKPAY, PaySafe Card, Qiwi, RBK Money, Skrill, SOFORT, VoguePay

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Scam!
1.19 · 55 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Lagos, Nigeria,
Jul 11, 2020,
Registered user

Bad business partners

Service use: Live

Length of use: 3-6 Months

A new bad friend of mine introduced me to brorex, I invested my salary while we have to face starvation that month. They helped me out on the first trade to boost my$200 to #265 and I started trading by myself as I'm knowledged in forex. I moved to $578 and when ever I want to withdraw the manager will encourage me to leave the money and trade more. Suddenly, I started loosing until I'm below minimum balance of$50 I opted for withdrawal of my remaining funds, it was hell to get out my $43 balance, after surfing the internet to furnish them with my details, they still wanted to refuse until I told them that I'm going to announce them to the world, they now agreed and refunded my balance. My friend lost about $1000 to them in trade but didn't tell me that s why he's not a good friend, brorex will trade against thier client, they are a big scam
 
MUHAMMAD DAURO,
ABUJA, Nigeria,
Apr 24, 2020,
Guest

Service use: Live

Length of use: over 1 Year

BFOREX A COMPANY THAT LIKE PEOPLE MONEY ON MATTER HOW.I LOST THE SUM OF 200USD TO MY TRADING ACCOUNT AND MORE IN MY ACCOUNT WITHOUT NO TRADE.
 
Dubai, United Arab Emirates,
Jan 3, 2018,
Registered user

Big Scam . Dont ivest with them

I have lost 5000USD with Bforex . They are bigggggggg scam . First they will provide you all the profits then they will start to loose all your heard earned money . They wont even bother about you if you have started talking anything against them . Please dont invest with bforex . Can anyone tell me how to get back my money from them
 
kan,
India,
Sep 5, 2017,
Guest

scam

this bforex is biggest scam and poor guideline people be alert if u are already have account immediate close
 
Roshan,
Doha, Qatar,
May 8, 2017,
Guest

Alwyn vignesh all cheaters

Alwyn vignesh all are fraud... Bforex is making money carefully looting.. they will tell you for one week and i should say if Alwyn was responsbile he could have closed it when it was going loss but this guy he never repsonded and i had to see my hardearned money draining in front of my eyes .. They are cheaters dont invest.
 
Arif,
Muscat, Oman,
Apr 12, 2017,
Guest

bforex scam

1st call- asked me to invest in very profitable business. offered all support as i am new to forex
2nd call - asked me to invest/deposit just 200 USD
3rd call - asked me to invest/deposit additional 5000USD. when i said i don't have money, he said he cannot his time on small investment. disconnected the phone.
i started my own and lost my 200USD in one week.

Now bforex appears in new names beware - 70 trade is one. They are making big catches with fooling the people around the world.
 
Aiden,
UAE, United Arab Emirates,
Mar 29, 2017,
Guest

Bforex changed its name to Financika (Sharp Trading) Ltd.,

Bforex changed its name to Financika (Sharp Trading) Ltd., guys please be careful. They will cheat you on the new company name. I lost 8.1K USD
 
ALLS,
KL, Malaysia,
Feb 27, 2017,
Guest

DON'T THROW AWAY YOUR MONEY WITH BFOREX

I started trading in Nov 2016. I started small but was urged to deposit more and more over 3 weeks. I did make profit but each time I tried to withdraw I was blocked from opening new trades. I had total funds of $33k and I lost everything with just 2 trades. I was asked to open trades without any stop loss rate. At one point the loss was almost zero and yet the idiotic account manager Vinayak told me to deposit more when the trend was going down all the way. I lost everything. Guys beware. Don't throw your money into this guy or bforex to be precise. Do lure by attractive advertisements claiming "who and who is a millionaire now after going into forex". If you want information about this scam please write to me. I will provide detailed information.
 
Varatharaj,
coimbatore, India,
Feb 22, 2017,
Guest

Guys dont invest

Dont invest money to BFOREX.....They are simply cheating .....They just make us a foolish after investing our valuable money,,,,
 
Sourav Bhar,
Kolkata, India,
Feb 18, 2017,
Guest

Narrow Escape

Thanks for the informative reviews of Bforex, to your information i ave read out these reviews to their Accounts Manager. I even managed not to listen to their abusive language since i didnt received their call back after disconnecting the call.
Thanks a ton....once again.
Those who suffered really sad for them but the offer they are providing sounds really lucrative hence the mistake.
 
Ramagopal,
Chennai, India,
Feb 14, 2017,
Guest

Hi, Now a days Information technology develop to the world & very fast these type of scammers. i was also invested 200 USD then account manager guide to how invest

finally i have 343 USD (after 45 days) over night account manager says invest Oil, gold etc., I got a call Indian Time 22.30 more invest.. i ask why? i check account on next day is Zero'0' balance ??????
 
United Arab Emirates,
Nov 3, 2016,
Registered user

FIRST I DEPOSITED 1200$ AND THAN WITH IN 40 DAYS I EARNED 5300 AND MY ACCOUNT JUMPED TO 6500$.. THE BEHAVIOUR OF THE ACCOUNT MANAGER WAS GOOD AND HE WAS CALLING AND GUIDED ME ON DAILY BASIS BUT SUDDENLY THINGS CHANGED HE WAS FORCING ME TO DEPOSIT 5000$ BUT I DIDN'T SO HE CLOSED MY POSITIONS IN LOSS AND I WASN'T AWARE OF IT.. WHEN NEXT DAY I LOGGED INTO MY ACCOUNT IT WAS ZERO 0$...
NOW THEY DONT EVEN CALLING OR REPLY ME
 
Dubai, United Arab Emirates,
Oct 31, 2016,
Registered user

BFOREX SCAM

Hi, My name is Shaheen, trading with BForex for the last 6 months, deposited around $32000 and lost all the money. They are the biggest scammers in this feild, I had send them so many complaints but no replies.
 
United Arab Emirates,
Oct 26, 2016,
Registered user

Sad story shared as a lesson for investors

These guys are into real cheating. I added 200USD on the advice of a so called ' help you trade safely' agent. And after a couple of weeks, my account was zero. When I reached out to the company and the agent whose name is supposedly Wasim, he said this is common and you lost the money. You should trade with a bigger amount. Please do not invest with these guys, They are real cheats.
 
Zamfara state Gusau, Nigeria,
Sep 28, 2016,
Registered user

Every difficulty and enjoyment in life is an experience .! I purchased this experience with my money by taken risk, and with this experience i had, i

Hello everyone .! I will like to send my condolence to all my victim brothers .! I don't know how i came accross this website.! But i found it usefull and healful.! And i thank you all for your contribution.! As for me, I lost $302 which is nothing compared to to what most of you lost..! Cus am kind of person that don't give up so easily .! But for taking such risk.! I belive that i purchased an experience in life worth $302.! And am sure, with the little experience i purchased with such amount, am sure I will not be scam again.! And to all the victims out there .... am advising you to forget about the money u lost and move on in life .! Cus i belive that u are all like me who want to be self a reliance..! And for that, God will never let you down.! And am wishing you and my self the very best life .! I don't know you, but I love you all.! And I will continue searching for a clean online sourcen of incomes.! Bye
 
Amy,
Malaysia,
Sep 26, 2016,
Guest

I.try to.registr because the company put a adv on facebook n email. IVery bad attitude representatives calling from.B forex. Now just know.here that's is scam company.that's why very bad attitude when.they calling I said pls send email instead of calling . They r calling from overseas +44 that I.Dun know where the calling from..after pickup n I not try to follow their step to.open account while they on.phone instruction.
 
Sree Nair,
Dubai, United Arab Emirates,
Sep 8, 2016,
Guest

BForex is really cheating people.. I deposited also till now they are not contacting or assisting any thing...they simply collect money from people and cheating them...
 
Bangalore, India,
Aug 31, 2016,
Registered user

bforex have employees who make you believe blindly and ditch you one day.

I have been trading in bforex site from past 1 year and still have not withdrawn any funds till now.There Were 2 manager who was handling with my account and both tracked my account and led me to loss.They have been asking me to transfer money repeatedly when ever it was going in loss and i use to borrow money from my friends and even my salary also.I have been had lot of hope on this people and never expected that they would cheat me this way.I had 3300$ in my account and had opened a position and all the money got vanished completely.Please help me out in getting back the money and I'm undergoing very bad financial situation.
 
John Varghis,
Mumbai, India,
Aug 19, 2016,
Guest

Bforex's unprofessional and abusive representative

Bforex is definitely not a company to be associated with under any costs. I give below the main reason for my making this firm statement.

I had seen the advertisement of this (company?) online. I submitted my details online on their website. When I got a call initially from a representative from Bforex, I wasn’t very convinced with the responses this guy provided to my queries. Hence I asked him to forward me details through email. After I received this email from them, I decided to check-out the reviews for Bforex online. I was not happy with the reviews posted online either.

So when I got a call again today from Borex, I informed him that I was not interested in associating with them. Imagine to my surprise (actually horror!), the guy just started to abuse me. The invectives and expletives flowing freely from his mouth were absolutely unbelievable. I suppose I would have had professional interactions with tens of thousands of people during my over 30 year career. Never in my life have I heard or seen such unprofessional behavior. Not even when there was an established strained business relationship between two parties have I seen something like this. And this guy had called-up to solicit my business. Imagine if this is the conduct of a representative from Bforex at the time of solicitation of business, what would be their attitude once they have your money in their pocket!?

The knowledge amassed from life’s experiences enable me to now identify unethical people and/or an unprofessional company with a high degree of accuracy. Any reader of this post can take benefit of this advice if they value their money. AVOID BFOREX EVEN IF THAT IS THE LAST COMPANY ON EARTH!!

P.S: I had promised this online submission to this abusive representative from Bforex. And I never break my promises!
 
Dubai, United Arab Emirates,
Aug 19, 2016,
Registered user

Dear All,

I would like to inform you that i have been trading with BForex from June 2016. I had deposited 5700 usd dollar. I tried to withdraw my money from them but they kept me block in trades. And they kept on forcing me to deposit more. I took 1st withdrawal from them because i had a doubt in this trader. The made a lost of 3700 usd. They told me you can withdraw money you in lost. slowly i recovred my money. And when i asked for the withdrawal they kept saying its approved. it never happened. today 19th Aug. they asked me to place a position which made a lost of 3500 usd they called me and said deposit money to save your position. when i said no i dont have money to put in. they said then sorry we cant help close your position. I tried many times to withdraw they never did.
Request you to help me in this.

Regards,

Ismail Poonawala
00971502877061
 
Venkatesh srinivasan,
Dubai, United Arab Emirates,
Aug 3, 2016,
Guest

Hi All. If you havent deposited any amount in bforex mensa u r in a safe position thank god that u didnt held up in a scam . At first they seem to be good but in later days u will come to know about the real faces of them . At first i have depsoited 4000 USD and got back 4000 USD Againi depsoied 4000 and 4000 total of 8000 USD and they gave a SIGNAL TO LIDQUIDATE ALL MY HARD EARNED MONEY PLS DONT BELIEVE THEM THEY R REAL SCAM
 
SAM,
UAE, United Arab Emirates,
Apr 30, 2016,
Guest

Two fellows (Indians) name Dhaval Chari who send email from dhaval.c@bforex.com. Now the e-mail is no more exist within 15 days.
Bforex is big scam and all governments should take a note immediately and protect genuine investors.
 
Abinash,
Kochi, India,
Mar 9, 2016,
Guest

Hello to all..I am crying now...Please please don't go through bforex.Total scam ..totally nonsense company.I am a new joined software engineer .I just invested 200$ or 13500 rupees and lost all.Still have a faith in God .God will punish them one day .Those Indians involve in this I warn you,refund my money otherwise.. ready ...A big storm is coming towards you ..
 
UnderCoverRose,
, Cyprus,
Jan 26, 2016,
Guest

bforex is a brand under the group called "Tradenetworks" and "Invesus". I dont know where these both companies are registetered but both are under Israeli ownership and located and managed from the city of Herzelia in Israel, while they have few offices abroad such as in Gibraltar. Tradenetwork is the technology entity they established to supply technological services to bforex and the other brands they hold. Tradenetwork or invesus supplies the trading platform name "profit" to bforex and all other brands.
their other brands:
FXGM- based in cyprus
financika- based in Israel, this brands works in the middle east region
dynamic trade- located in malta, aim to japan
forexct- located in australia
there might be other brands that i didnt mention that i am not familiar with
 
Ramesh,
Bangalore, India,
Nov 28, 2015,
Guest

Bforex is really big scam, they followup continuously till you deposit money and ask you to trade according to their instructions and they concentrate only on their commission no value to investors. If we enquire about loss or withdraw it will never be processed and they will wait till account get liquidified and they make sure your balance is zero at the earliest possible time.
 
Tanveer,
UAE, United Arab Emirates,
Oct 3, 2015,
Guest

Every Day from Monday to Friday this people call me and give me signal of the Market . I have invested 200$ and now is 1000$ . Now when i try to withdraw the money i am not getting the money
 
Sijo,
Qatar, Qatar,
Oct 2, 2015,
Guest

Its completely true...i made an account with Bforex and started by the help of account manager, until we loose all money they will not call us. Once everithing lost they will come with offers to deposit more and more i lost my 10000$ in 3 months
 
Stephanie Palma,
Arizona, USA,
Sep 7, 2015,
Guest

****I was trusting forexpeacearmy.com with reviews on forex brokers. I selected your add for B Forex Broker.com and almost signed up based on the fact you are advertising for it. Then? Well, I read it is a scam by your own website. A bit contradictory don't you think?

Review Moderation Team Note: We don't normally view the ads, but checked this case to be sure. The advertisement is NOT for BForex. It is for a different forex broker.
 
nader,
, Saudi Arabia,
Jul 3, 2015,
Guest

Company unlicensed impostor I defrauded amount of $ 15,500 and do not know how my money back
 
ram,
india, India,
Jun 12, 2015,
Guest

this one is fraud one . so pls don't go for this check with register company. this one is not register and not even to withdraw ur money .
 
Solomon,
LAGOS, Nigeria,
May 5, 2015,
Guest

Just right now I just got off the phone with George who claimed to be my account manager from Bforex and I have just started trading with BForex 2 weeks ago, i deposited total $900 or more i have been directed to do all i did on my account. today May 5th, 2015 this noon my account wiped off from $2141 usd to 0.00USD balance. George who directed me to do all activities in my account called me again and asked me to log on and see. behold it was all ZERO balances.. and he was still asking me to deposit $5000 even though i have just lost $900 to nothing. I need help please cause i borrowed this money to start trading and hoping for profit to make ends meet. I am poor and needy and i cant afford to this loss as i am crying right now. Please who can help me and get higher authority to contac Bforex for me and return my money.
 
omran kataya,
Beirut, Lebanon,
May 2, 2015,
Guest

BFOREX IS A SCAM CO. THEY STEAL THEIR CUSTOMERS.they stole my acc. over 18,000 $ .a complain to FBA & to all EMBASSIES IN beirut where they have Branches in.
 
Uto,
Nigeria, United Kingdom,
Feb 25, 2015,
Guest

I started trading with Bforex for two years now and I have never made a profit that I can withdraw. From my experience, the account managers donot even know in detail the dynamics of forex trading. I have had more than or up to ten different account managers yet my trade just break even or I lost completely. They are interested in making sure that you open more than ten trades a day because that is how they make their commission. What is annoying, is that I use to follow this account manager advice as if it is the pure truth about trading. Only to discover that I lose a lot compare to me making my own decision. Currently, I was doing very well until my account manger introduce a new trading advice that kill my account completely. Please donot rely on account managers advice as a complete truth, they have a lot of flaws. I think this guys are out to make money for themselves and not to help the traders.
I also notice that anytime, I am given a bonus because of depositing money, I lost greatly. I can not really say how Bforex do this. I think you should not get their bonus.
Overall, I think am going to quit trading with them. For two year I have lost upto (if not more than) $1500 and never gain a dime. I was thinking I have to lost more to understand the market but I guess I was wrong. I have started questioning Bforex methods. Also, any time I loss because of the decision of the managers, they never call back. Next thing is to change the account managers.
This is my experience. I cant say if Bforex is scam because I never had issue with that lead to this. But, if you want to make money in trading, look for some were else. I will not recommend Bforex
 
khalid qader faraj,
, Iraq,
Jan 20, 2015,
Guest

my bforex account is khalidf62@yahoo.com I got call from account manager of company that he will trade on behalf of me do not need to wary so much a bout profit .Then every thing had changed fruiting lying other kind of scam started with me my AM enforced me to deposited more money on CASHU way but the CASH U account was not under my control they kept the password to themselves I deposited 5 times totally was 12000$ they overloaded my account som much to level that margin did not Stan it so braked down in few second then I lost 54000$
 
David,
Nigeria , Nigeria,
Dec 12, 2014,
Guest

THIS IS ABSOLUTELY TRUE. THEY ARE GOOD AT CALLING AND CALLING AND FOR YOU TO MAKE DEPOSIT. I THINK THE PROBLEM; YAHOO.COM IS RUNNING COMMERCIALS AND ADVERTISEMENTS FOR THIS PEOPLE THEY DO NOT CARE TO INVESTIGATE THEM AND KNOW IF THEY ARE TRUE. ALL THEY ARE INTERESTED IS IN DEBITING THEIR ACCOUNT FOR PAYMENT. RATHER HELPING THEM IN CIRCULATING MISLEADING INFORMATION. THEY ARE A BIG BIG SCAMISTS. BFOREX. WHAT I THINK IS THEY ACTUALLY GIVE DEMO ACCOUNTS, NOT LIVE ACCOUNTS. SINCE YOU ARE TRADING ON THEIR INTERFACE, THERE IS NO WAY YOU WILL KNOW. THEY MAY CHOOSE TO GIVE WITHDRAWAL TO WHOM THEY CHOOSE TO.
 
Victor_Grib,
Moscow, Russian Federation,
Aug 29, 2014,
Guest

I lost my deposit twice in bforex: maybe the course of this were my mistakes, but they have a lot of requotes and slippages. But main problem was the cancel of my profit! They simply told me that I used a scam strategy! Later I found that they has never been licensed by BVI FSC. I don't recommend anyone to trade with them.
 
Fabunmi Gbenga,
Lagos, Nigeria,
Jul 14, 2014,
Guest

When i started with Bforex I was told that any trade I made is my decision and I will be responsible for it, profit of loss, so when they say gold is going up I ignore except I see for myself that it is. The only thing I am yet to confirm is their attitude when it comes to withdrawals.
 
Abdelmawgoud,
Kuwait, Kuwait,
Jul 10, 2014,
Guest

Very big liars, thief, bad advice, scammed
My account manager tried to enforce me to deposit more money, and whenever I gain profit they opene a hedging transaction (they opened 6 transaction during 2 weeks for me), then when they know that I want to withdraw they not answering my emails. and stop calling me
 
Engr. Joe-Madu Samuel,
Abuja, Nigeria,
Jun 19, 2014,
Guest

B-Forex is the biggest scam platform ive ever experienced, i made 482 and 487 usd today around 10am to 12noon +1 west african time.
they removed my profit and turned it to 0, my account officer has refused to say anything and the customer service is saying i should contact him, they are just turning me around till now nothing. his name is christian gergiev.
 
Ralf,
, Lebanon,
Jun 7, 2014,
Guest

I put 5,000$ first and worked for a couple months, When I made it past 40,000, they changed the person who was contacting me, and there was a new person who had a high interest in my account, she started telling me what to do and in a matter of 2-3 days, my account was about 70,000$ So I asked for the money to be transferred and got no answer for some time, then she calls me and tells me that she opened a trade for me that will make a lot of benefit, I open my account, and bam! 0$
I went crazy and started contacting them, they wanted me to put more money.. They're a big WISE scam, but all they do is convince you over and over and over to deposit deposit deposit..
 
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
 
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.
 
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.
 
Marco Aurelio Ferreira,
Andorra, Andorra,
Nov 9, 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.
 
Dib matar,
beirut , Lebanon,
Aug 30, 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
 
Gg,
spain,
Aug 11, 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.
 
Yong,
Singapore,
Mar 25, 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.
 
Has,
Australia but currently in KSA ,
Dec 4, 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.
 
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.
 
UK,
Aug 26, 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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