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BelforFx.com Review

Updated: Mar 15, 2018
1.046 · 20 REVIEWS
Is this your company?


November 2015:  There are 2 more FPA Traders Court votes against this company.  The FPA now considers BelforFx to be a SCAM.  The FPA recommends against dealing with BelforFx until all of these issues can be resolved.  If you have an account with BefforFx, the FPA suggest you attempt to withdraw your funds as soon as possible.


March 2016:  WARNING - The Terms and Conditions on the BelforFx website allow them to send withdrawals as partial payments.  A $100 withdrawal could be processed $1 at a time.  The FPA knows of no legitimate reason why a broker should not be able to pay any client 100% of the client's funds at any time.

September 2015:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing with BelforFx until this issue is resolved.

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

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty3
Case IDFiledCase nameVerdict
2015-1992015-11-13asaf sella vs belforfx.comguilty
2015-1972015-11-12jeff_calgary vs Belforfx.comguilty
2015-1382015-08-14ibramus vs BelforFx.comguilty


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1.046 · 20 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

NB, Canada,
Dec 22, 2017,
Registered user

they stole me 6000$

they stole my hard earned money , 6000$ USD. i did deposit and did a couple of trade and then decided to withdraw my money and never heard from them. Even the online chat were not responding to any of my request. They are 10000% pure F**** scammers. Be aware people !!!
Oroville, Ca, USA,
Oct 3, 2016,
Registered user

Belforfx is indeed scammers

I too have experienced my mt4 disconnected from them and the $60 left of my $100 initial acct is looking like to be no more because their Skype doesn't work and numerous emails to them goes unanswered.

My mt4 keeps reconnecting to a "Renning-server" instead of theirs and $0 balance.

Really surprised of them as at first they seemed very helpful in getting me setup.

Only thing I have left from them is 7mo of 5min backdata in history buffer for testing some.

Amazing as it all was setup so well to appear real.

My troubles began when I inquired why my profile page showed nothing, guess I flagged them that its time to do me in.

Please, how can we take them off the face of the net!?

I keep telling myself to check things with FPA first, but I keep making mistake not doing so often.
Aug 29, 2016,

Jordan Belfor is a career crook and probably punches babies for fun

I deposited $600 in January of 2014. I made a few winning trades and a few losing trades until the account was down about 20% total. They had a very attractive program designed for winning traders to manage other's accounts that heavily rewarded the trader. I received a phone call and later some emails about it during the weeks I was positive on the account. Then I didn't trade for about 5 months because of other obligations. While I was away, they closed my account with no, no email, no phone call and my account balance was $0. The website is down and I looked into it and saw the whole organization had disappeared with investors money. The guy who ran this bucket shop is the guy from "The Wolf of Wall Street" movie. He made many millions off scamming people. Gleefully, strategically, connivingly, intentionally scamming people and building a team of crooks that help him. He sees your money as his money. He was convicted of fraud, spent years in prison. He is supposed to pay 50% of his annual income to the victims of his scams by court order but left the USA and hides his income. Jordan Belfor is the scammer. Have a pair of shoes on me buddy, or a couple of drinks or a night at a restaurant or whatever. My live account now has more than made up for it and I don't need to chase this dude. Why do you go to jail longer for selling a bag of pot than for stealing millions from honest people?
Eric LeBouthillier,
NB, Canada,
Jul 2, 2016,

i did deposit over 6000$ CAD asked for a withdrawl , the account manager said no problem then NO F**** ANSWER back. Tried to dispute the charge with my credit card company and they said they cannot fight their terms and conditions ..... BELFORFX is a SCAM!!!!!!! Now i need to find a way to get my money back PLEASE HELP

2016-02-27 1Star
Be extremely careful with these guys they stole my money 10 000 USD !!! They are NOT regulated anymore. DO NOT accept any bonus from them or the 5 free risk trades you will be caught like i was , basically you get 5 free risk trades however if you lose the money they will put back the money in the account but you CANNOT withdraw anymore that money. Read their terms and conditions they are the worst scammers out there !! Also if you google Jordan Belfort , the creator of this company , he was caught by the justice in court for price manipulation etc.... I STRONGLY advise you avoid that broker at ALL cost if your money is precious.
, Turkey,
May 22, 2016,

I invested 28000 USD to belforfx.
I requested withdrawal 28.10.2015.
but they did not give me money.
connect to the live chat but they prevented me.
What should I do to get my money?

Please help me

Review Moderation Team Note: Please get a thread about your issue opened in the Scam Alerts folder of the FPA Forums.
James Spencer,
Nevada, USA,
Apr 21, 2016,

I STARTED WITH THEM EARLY IN MARCH OF 2016 If you are only depositing money they are great, BUT if you try to take money out of your account they will never return your email or your skype. you will lose every cent you put into this broker DON'T invest with them they say they are regulated but no one can tell you by whom. SAVE YOUR MONEY AND FIND ANOTHER BROKER THAT HAS A GOOD REPUTATION
, Belgium,
Mar 21, 2016,

Its are big scammers, i started ON 16/02/16 with a deposit of 2000 usd, i make a profit of 5852 usd and now i try allready more than 14 days to do a withdrawal, all the phone lines are closed, the chat is closed, on my e-mails no andswer. Than i opend last week a new account on the name of my wife, within 2 h telefone from a accountmanager from Belfor , mr Hans Muller with a secred nr. I ask for a telefon nr and he give me his skype name, i try to reach hem this eavening and he lifs in Bulgaria, But i think i losed all my money because he send me a email on my withdrawal request that i get a bonus and that i have to be a client more than 6 monds befor i can get a withdrawal request?? SCAMMERS BIG ONES! Can sommebody help me?
barcelona, Spain,
Jan 11, 2016,

I am desesperated with BelforFx who doesnt return my deposits.
I received lots of calls of a senior representative on March 2015 called Heerbert Fletcher and Diego Rojas from BelforFx and I decided to open a real account, and I deposit 3000 euros.
Firstly they push me to my account be managed and I accepted because of my lack of experience of this types of trades, I lost near 2000 euros for bad trades recommendations and bad management of my account and then I decided to stop of this management.

20th december 2015 I decided to withdraw my money, 1100 eur, I filled withdrawal request and I sent to them.
I sent at least 10 mails to clientservices@belforfx.com with withdrawal request and complaining about my money, and I didnt get any answer.
I sent some messages at live chat support and they ban me or they close chat window, and it is impossible to talk with them. I sent a screenshot about the support conversations when you can see how Joanne Singer close the chats.

I am desesperated to get my funds and I want to warn everyone dont invest in this broker is totally scam and terrible broker and they are thieves literally.
I sent a complaint to Financial Services Provider in New Zealand and they told me this broker is unregistered and they are unable to help me. So I dont know how can I get my money.
Mohammad Khadafie,
Kota Samarahan, Malaysia,
Jan 5, 2016,

undisputedly a big scam broker. i already send to client service department my withdrawal request about 3 weeks ago up until now they still doesnt yet processed it and never replied my mail regarding my request. i resend my request many time it's still the same.it just usd160,why take time so long to process it.it not make sense. every time i ask the customer service via livechat about my withdrawal status,they keep passed me to one another among them like a football and at the end they closed my chat and leave me without an answer. i also tried ask my acc manager steven hoffman about that at the same time and he tell me my withdrawal is processing at the moment but liked i said before up untill 3 weeks still not received yet my payments and my trading acc still in the same amount which mean they still not processed it yet. So i came here want ask for an help to FPA team help me to get back my money from them because i need that money badly. since we all know they are scam broker can you guys help me please.how the procedure to claim it? my trading account number is 3358371. Thanks.
Hesham Elbattouty,
Dubai, United Arab Emirates,
Dec 20, 2015,

Its 100% SCAM company, very nice and give you 100 calls to open account with them and when I tried to withdraw my money, they stop answer your email and close the live chat immediately when they recognize you, I communicate with some NEW ZEALAND government who reply saying " Please be advised that BELFOR CAPITAL LIMITED FSP245245, was deregistered on 15 July 2015 as a Financial Service Provider on the FSPR"

I also communicate with NEW ZEALAND financial market authority who reply saying " The company is not, and has never been, authorized or licensed by the FMA. This entity is also no longer part of a Disputes Resolution Scheme"

this link also proof that BELFORFX no more exist and its called now "WGM GROUP LIMITED"


The owner of the company is Mr. Manfred Wilhelm WAGNER DE CECCO, who is originally from Guatemala, and all staff are from their and they are saying they operate from NEW ZEALAND



any idea how we can stop their website from hunting new victims ?