Is BECFD Scam or Legit Broker?

BECFD has been suspected as a scam broker. This broker is blacklisted by a well-known regulatory authority and should be avoided. BECFD is owned by BECFD Limited which is an offshore company registered in the Marshall Islands.

  • The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex, and more.

🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is BECFD safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is BECFD?

BECFD is a Forex and CFD broker, owned and operated by BECFD Limited. The company is registered in the Marshall Islands, an offshore zone where brokers are usually neither regulated nor supervised.

  • The website doesn’t provide much information about the broker, only two contact phone numbers: British and Austrian. It means that BECFD has been trying to offer its services in these countries, it also means they were trying to do that without being regulated or authorized.
  • Moreover, Austria’s FMA has recently issued a warning against this firm. We keep reminding traders that dealing with offshore brokers is quite risky as clients have no protection of their funds.

BECFD Review Conclusion

We strongly advise opening a trading account only with brokers regulated by respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets and Pepperstone.

BECFD Update

Our research showed that the BECFD website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations. 

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