BRFXtrade Review: Is BRFXtrade Scam or Safe?

Site: https://brfxtrade.com/

BRFXtrade is a veteran forex broker that has been in business since 2009. With access to six asset classes, including Bitcoin, indices, shares, energies, currencies, and forex, BRFXtrade gives you an opportunity to trade on the global market with some of the latest tech and software available, as well as the option of automating the entire thing should you want to.

Where and how does it operate?

With more than 50,000 clients and operating in more than 190 countries across the globe, BRFXtrade has certainly made a name for itself. As a client, the broker offers you access to industry-leading trading platforms: MT5 Web Platform and MT5 Metatrader. MT5 Web Platform is a web-based platform that allows for efficient trading directly from a web browser. The platform does not require the download of any additional software. Its functions include opening and closing trades, setting stops and entry limits, placing orders, managing limit and stop loss, charting, and many more. MT5 in the form of an application is equipped with a customizable user-friendly interface, a terminal that allows for market analysis, decision-making, trade execution, and management of automated trading systems to top things off.

BRFXtrade also offers access to an online social trading platform that enables traders to follow successful traders and build their own portfolio in their image. Part of the experience of working with this broker is that it provides comprehensive trading support and education. The broker offers its customers free forex eBooks, video tutorials, articles, market analysis reports, and an economic calendar to maximize profits and minimize risk. Regardless of the account type, customers have access to their personal account managers who also serve as trading advisors and consultants. Also in the package are free trading signals based on in-depth market analysis. Moreover, BRFXtrade provides every trader with the option of using its automated trading system without additional charges. Should the need arise, customer support can be reached via phone, email, and live chat.

  • Leading MetaTrader5 platform
  • Extensive educational materials
  • Automated trading

img 1 BRFX trading

What are the account types?

The broker does not charge any additional fees and commissions, so spreads are the only trading costs incurred by traders. All account types have free access to automatic trading services, signals, educational materials, and a personal account manager.

    • Standard
    • Deposit: $250 – $999
    • Leverage: up to 1:100
    • Standard Spread
    • Silver
    • Deposit: $1000 – $24,999
    • Leverage: up to 1:200
    • Standard Spread
    • Gold
    • Deposit: $25,000 – $99,999
    • Leverage: up to 1:400
    • Spread: 1.9 points
    • Platinum
    • Deposit: Above $100,000
    • Leverage: Clarify with account manager
    • Spread: 1.5 points
    • High minimum deposit
    • Decent account variety
    • Average spreads


img 2 BRFX trading

Are there any bonuses or promotions?

BRFXtrade offers two types of promotional bonuses. New clients are eligible for up to 100% bonus on their first deposit depending on the amount of their investment. The second bonus comes in the form of a referral bonus, equivalent to 10% of the first deposit of each of the clients’ referrals.

How do I deposit and withdraw?

The following payment options are available for deposits and withdrawals:

  • • Local bank transfers
  • • Debit / credit card

There are no additional charges for deposits. Funds will be reflected in the account after the user’s account has been authorized. You can request a withdrawal during regular office hours.

Your payment will be processed within 7 (seven) business days, after which the payment will be made via the original payment method. Withdrawal of funds is only available to clients who have uploaded their supporting documents and had their trading accounts validated.


img 3 BRFX trading

Conclusion

BRFXtrade, with a decade’s worth of experience, has become a solid broker with a client-centered approach. Its strengths are in its strong technological infrastructure that was built over the previous years. A wide variety of account types, access to the most innovative and up-to-date trading platform, a comprehensive package of support and educational materials, and optimum trading costs. These are some of the good aspects BRFXtrade possesses as a broker. The only downsides worth mentioning is that the broker requires a relatively high initial deposit and does not offer a demo account.

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5 7

Comments

5 5
30/01/2019, 16:59:22
Everything you need from a broker you will find here. This is my first one, but I don't feel like I need to go exploring any further as of now. Making a steady $120-$150 every week trading on my phone via the web platform, which is great by the way. Minimal issues with slippages and requotes, nothing to fuss about. Didn't use the site's educational material, but the personal account manager comes in very handy, no doubt about that.
5 5
25/01/2019, 22:17:17
Upgraded to a silver account not that long ago and it certainly feels like the stakes have been raised. The leverage is great here, but so are the risks. Good spreads, great personal account manager, ok website. No demo account as well. I don't really care anymore, but when I was starting out, I almost chose another broker because the option was available there.
5 5
10/01/2019, 17:57:38
I just bought myself a new 4k 65-inch TV with the money I exclusively made here. I'm quite proud of myself, and it wouldn't be possible without brfx of course. My 3rd broker so far, and the first one I am finally making legit profits with. MT5 is as good as it gets, and since I'm on the road a lot because of my work, I am lucky to work with a web platform that works flawlessly most of the time, not without hiccups of course.
5 5
05/05/2018, 11:45:59
Haven't been with brfx that long, but so far my experience has been nothing but good. I tested withdrawal multiple times and everything is ok. Trading based on news works fine for me, no requotes. Sometimes support takes a while to reply, but that isn't so big of an issue.
5 5
11/02/2018, 00:27:55
Decent working conditions, a wide selection of account types. Spreads are rather wide for me though, unless you invest $25k+, which I cannot do. Except for the spreads there’s nothing I can complain about. The platform is stable, no disconnects, everything is fast. The trading advisor helps out with almost everything.
5 5
05/01/2018, 14:29:39
I found out about this broker from my friend. Pity they have no demo accounts. The minimum deposit is really high as well, I wanted to try a demo first. Nevertheless, I went for a risk and it paid off pretty good. I wasn't expecting that to be honest. I like their MT5 platform, execution speeds and support are always on point. I withdraw 1-2 times a month and money usually hits my account within 5-6 days.
5 5
24/10/2017, 10:31:49
I've had a pretty bad run with my previous two brokers, and this one seems like a breath of fresh air, at least because I haven't lost all my money in a matter of days. On the contrary, things are looking quite good, though it took a lot of learning, trial and error. Here I have no withdrawal delays and disconnects unlike with my previous brokers, and the support is always there to help. Big thanks to my account manager Steve, really nice advice and service from him.

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