BMFN Review

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BMFN
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3.70/5

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BMFN is a well-established broker since 1988. BMFN has headquarters in Australia, Bulgaria, China, Egypt, Kuwait, Russian Federation, United Arab Emirates and United Kingdom. They are generally well-suited for BMFN to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by VFSC 40202.


Company Information

🌐 Website
bmfn.com

Year Established
1988

🌎 Country
Vanuatu

💼 Regulation

Features

💰 Bonus offers

🏆 Trading contests

📖 Free education

👩‍💼 Personal manager

☎️ Trading by telephone

🔎 LAMM accounts

📊 MAM accounts

📈 Managed accounts

👔 Affiliate program

🕋 Islamic accounts available

🗺 Vps

Account Information

Apart from the forex demo account, this broker offers MT FX, MT CFD, MT DMA and UNITRADER. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by BMFN is up to 1:400. Meanwhile, you can open an account with a starting capital of $50.

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Min Deposit

$50

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Max Leverage

1:400

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Spread

Variable

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:



💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, BMFN also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil and Energies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for MT FX account, BMFN specifically provides it with the following instruments and leverage:


Forex

Forex
1:400

Gold & silver

Gold & silver
1:33

Energies

Energies
1:33


💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, BMFN also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil, Indexes and Metals for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for MT CFD account, BMFN specifically provides it with the following instruments and leverage:


Forex

Forex
1:400

Gold & silver

Gold & silver
1:33

Indexes

Indexes
1:33

Metals

Metals
1:33


💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, BMFN also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil and Metals for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for MT DMA account, BMFN specifically provides it with the following instruments and leverage:


Forex

Forex
1:400

Gold & silver

Gold & silver
1:33

Metals

Metals
1:33


💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

One-Cancels-Other (OCO) orders

Instruments Traded

Besides lots of currency pair, BMFN also offers some instruments you would like to trade on, such as Forex, Gold & silver, Oil, Stocks, Indexes, Energies and ETF for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for UNITRADER account, BMFN specifically provides it with the following instruments and leverage:


Forex

Forex
1:400

Gold & silver

Gold & silver
1:33

Indexes

Indexes
1:33

Energies

Energies
1:33

Payment Methods

CashU : If you live in the Middle East, CashU is one of the most popular online payment services there. CashU is a digital wallet that allows clients to pay or transfer money online instantly and offer users its own pre-paid MasterCard with no absolutely additional fees attached. Introduced in July 2002, CashU has targeted the Middle East and North African markets where it serves close to 2.3 million customers. This is the reason why many of the forex brokers that are expanding in the North African and Middle East market accept CashU as one of their payment methods.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

BMFN also provides payment with UnionPay and Credit/debit cards



Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, BMFN offers you MetaTrader 4 and UniTrader.

Customer Support

Do you have any question or find any trouble related to BMFN? If you do, you should reach BMFN's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Arabic
Chinese
English
Spanish
Vietnamese

Office Support

Email Support

Call Support

Chat Support



FAQ About BMFN

Is BMFN a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if BMFN is a good broker for you or not by reviewing the criteria. In general, BMFN provides trading service in Forex , Gold & silver , Oil , Energies , Indexes , Metals , Stocks and ETF . As for the payment methods, you can choose between CashU, Credit/debit cards, Neteller, Skrill, UnionPay and Wire transfer. The customer support is available via Callback, Email, Live chat, Office, Phone and Web form.


What is the minimum deposit for BMFN?

The starting capital in BMFN is $50.


Is BMFN regulated?

BMFN is regulated by VFSC 40202. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


Is BMFN legit?

BMFN is a brokerage company offering trading services for clients since 1988 with offices in Australia, Bulgaria, China, Egypt, Kuwait, Russian Federation, United Arab Emirates and United Kingdom.