nyuzman Reviews

Review for BestSpreadFX.com

New York, USA,
Nov 7, 2018,
Registered user

BestSpreadFX.com are thieves and are not to be trusted.

BestSpreadFX.com is not a broker you would want to deal with. Their customer support is completely lacking and worst of all they engage in an illegal practice of gauging their clients when it come time for withdrawing your winnings. I have deposited $1,016.00 with them for the purpose of trading Forex currencies. They immediately added a bonus of $1,000.00. I promptly emailed them with a request to remove the $1,000.00 bonus because of my preference to seeing actual balance in my account. When I went back to check if my request has been processed, I noticed that they deducted $1,016.00 instead of just $1,000.00. I made no qualms about it thinking that it was a negligible amount to worry about. A few days past, I noticed that they added the bonus back again. I wrote them again to remove the bonus. However, this time, even though I wrote to them another couple of times, they never did and didn't bother to respond to me with a reason why they insisted not to.

A few days later, I noticed that one of my trades, which was executed at 128.338, for reasons unbeknownst to me, was switched to 128.089. I wrote them several emails, such as the one below*, asking them to explain why this happened to which I received not even one reply.

*Urgent reply needed: Trade #12938313 in my account was executed at 128.338 (See Journal entry.) For some reason open price for this trade was recorded as 128.089. Please provide explanation/correction. Please respond asap.

When I saw that they would't even bother to write an explanation, I decided to switch brokers. I went on BestSpreadFX.com back office and requested for my balance, which was $1154.00 at the time, to be withdrawn in the form of bitcoins to coinbase.com. As I awaited the withdrawal in my coinbase account I notice a pending transfer of only $984.52. I quickly went back to BestSpreadFX.com back office to see why out of $1,154.00 they only transferred $984.52 and saw that they charged me a "Cancelled Bonus Fee" of $68.50, a "Change Commission Fee" of $85.60, and another $15.39 for withdrawal.

If anyone reading this review thinks this is fair or to be expected from a legitimate broker, then go ahead and entrust your business to BestSpreadFX.com. I know I wouldn't. They are thieves and completely undeserving of any trader's consideration for a broker!