BelforFX Review

BelforFX
100% up to $500
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Overview

BelforFX review BelforFX is a bit smaller than most brokers. Belfor Capital Limited is a financial service company based in New Zealand and London and established BelforFX early 2012. What… more

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Details

Broker BelforFX
Website URL www.belforfx.com
Founded 2012
Headquarters 1 Dickens St, Napier South, Napier 4110, New Zealand
Support Number +64 6-824 3659
Support Types phone, live chat, email: clientservices@belforfx.com
Languages English, Spanish, German, French, Italian
Trading Platform MetaTrader 4, Web-based trading platform, smartphone and tablet app
Minimum 1st Deposit $100
Minimum Account Size $100
Minimum Trade Amount $1
Maximum Trade Amount $10.000
Bonus 100% up to $500
Payout within 48 hours
Leverage 1:10 up to 1:400
Spread 1.3-2.7 pips per trade
Free Demo Account Open Demo
Regulated Yes
Regulation BelforFX is regulated in New Zealand to take customers from everywhere in the world including USA
Fees Yes
Fee Info Witdrawal fees of $40 apply
Commissions Yes
Commission Info Witdrawal fees of $40 apply
Account Types standard account, gold account, platinum account, ECN, islamic account, Managed account, savings account, demo account
Deposit Methods Visa, Mastercard, American Express, Neteller, Skrill,uKash,Paysafe card, giropay, diner's club,cashU
Withdrawal Methods Visa, Mastercard, American Express, Neteller, Skrill,uKash,Paysafe card, giropay, diner's club,cashU
Trading Methods Hedging, scalping,swapping
Number of Assets 1000+
Types of Assets Trade in more than 1000 different financial assets including CFD's, stocks, forex, commodities and indices
Trading Currency You can trade all major and minor forex pairs on BelforFX including exotic ones like South African rand, Russian Ruble and Turkish Lira
Account Currency You can fund your BelforFX account with any currency which will be converted to the set currency under the 'my account' tab.
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 9.1

Full Review

BelforFX review

BelforFX is a bit smaller than most brokers. Belfor Capital Limited is a financial service company based in New Zealand and London and established BelforFX early 2012. What makes this broker unique is the fact that it’s regulated to take customers from all over the world, including the United States. Traders from the United States can deposit on BelforFX through Skrill/Moneybookers and Paypal. BelforFX focused on the simplicity of its trading platform. The broker wanted to become successful the old fashioned way, by offering great service and user experience. They have reached their goals by offering advanced trading platforms, great customer service and a broad variety of education material on their website.

BelforFX license information

Traders from all over the world are accepted by this international broker. Because BelforFX has a excellent license you can trade safely where ever in the world with this legal and regulated forex broker. BelforFX has obtained licenses in the following countries: the United Kingdom, New Zealand and the Seychelles. You can find more detailed license and regulation information about BelforFX in the Financial Services Provider Register (FSPR) under record number: FSP3932698.

BelforFX trading platform information

BelforFX offeres several different accounts including a demo one. On each of these trading accounts you can trade in forex, CFD’s, stocks and precious metals. There is no web-based trader available, however there is a downloadable trading platform that works super fast and never freezes. Apart from it’s own trading platform, BelforFX allows trading on MetaTrader 4, the industry standard for forex traders. It’s also possible to trade on your smartphone and/or tablet using BelforFX mobile app. With the managed account traders can conduct in social trading using BelforFX as well.

MetaTrader4 (MT4)

The world famous MT4 platform is the industry standard to trade forex world wide and BelforFX uses it as it’s primary trading platform. If you are not familiar with MetaTrader 4, this is the most customizable, flexible and easy-to-understand trading platform world wide. Many professional traders use it and it has unique features like technical analysis tools, dynamic charting and many others. Part of MT4 is MetaQuotes 4, a programming language which traders can use to develop their own indicators and EAs (expert advisors). Some other functions of MT4 include strategy tester, multi-screen configuration and multi-language setup. A complete guide on how to use this trading platform you can find on the BelforFX website. It’s always possible to get help from a BelforFX employe on how the trading platform works. MT4 is a windows application. Mac users can use the free-to-use WineBottler software to use windows applications on OSX.

Social Trading

June 2014 BelforFX improved it’s broker website and added a new feature. SocialFX, a powerful managed account plugin was the main improvement. With this feature traders can choose from a selection of expert traders which will then (marginally) trade on your account. You can choose from several professional traders and graphs and data per trader is shown to make a perfect comparison and ‘follow’ the trader(s) you want. Social Trading on BelforFX is only possible on Gold, Platinum and VIP accounts, however it’s possible to contact customer support, explain you signed up via Choosebroker.com and most likely you will get access to social trading even if you have a normal account with BelforFX.

Smartphone and tablet tradingsplatform BelforFX

BelforFX understands how powerful and handy mobile devices can be for traders on the go. That’s why BelforFX offers apps in the Apple App Store and Google Play for iOS and Android. The apps work fine and do not freeze or have any delays. The interface contains live market data on currencies, commodities, stocks, CFD’s and indices. Also you will have access to real-time and historical market data so that you can improve your market analysis. Using the app, traders can view open and closed positions as well as balance information per transaction. Basically the BelforFX trading app is perfectly suitable for traders on the go.

BelforFX customer service

BelforFX is a simple broker. They don’t want to make a big fuss of their trading platform and they focus mainly on the loyalty of it’s customers. With the offering of excellent service, they do their utter best to achieve this. The BelforFX customer service is reachable by phone, fax, live chat, email and the forum on their website. The BelforFX customer service is 24/7 available and replies personally in a timely manner on any questions asked by it’s customers.

BelforFX deposit and withdrawal

As heavily regulated broker, BelforFX offers multiple deposit and withdrawal options of which Paypal is the most unique. The required minimum deposit is rather low, just $100. Traders can trade using a leverage from 1:1 all the way up to 1:400, depending on account type. It’s possible to use local deposit and withdrawal options not listed on their website or on Choosebroker.com. Contact customer support to deposit or withdraw using alternative methods. BelforFX is required by law to ask you personal information when you make your first deposit. Withdrawal requests are fulfilled within 48 hours and are being credited on the same source as you used to deposit.

BelforFX review conclusion

Traders of all sorts can use BelforFX as broker. With a low minimum deposit required of just $100 and multiple deposit methods available like Paypal, BelforFX makes it easy for traders all over the world to open an account with them. After a deposit is made traders can trade the markets within seconds. If one doesn’t want to make a deposit just yet, there is the option to practice with an unlimited demo account. BelforFX uses MT4 as trading platform and is not only reliable but offers traders with insightful tools like real-time market information and an economic calendar. All these functions make BelforFX a good global broker for no-nonsense traders. If you would like to use the BelforFX trading platform, we suggest you sign up for an account using the button below to be entitled to a 100% up to $500 welcome bonus upon your first deposit, t&c apply.

✓ Low minimum deposit of just $100

✓ Trade forex on BelforFX’s MetaTrader4 integrated platform

✓ ‘Follow’ other traders by the use of the Social Trading Platform

✓ Reliable and regulated broker by numerous regulatory bodies

✓ Traders from the United States accepted

Visit belforFX Website

Pros

  • Low minimum deposit of just $100
  • Trade forex on BelforFX's MetaTrader4 integrated platform
  • ‘Follow’ other traders by the use of the Social Trading Platform
  • Reliable and regulated broker by numerous regulatory bodies
  • Traders from the United States accepted

Reviews

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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