Is BRFX Trade Scam or Legit Broker?

BRFX broker is a scam broker. It is NOT SAFE to trade with this company. While we checked the company, there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

About BRFX Trade
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is BRFX Trade safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is BRFX Trade?

BRFX Trade is owned by BR Consulting Group Ltd. It is an offshore Forex broker registered in St. Vincent and the Grenadines with a Financial Services Authority.

  • It is risky to deal with offshore registration brokers as on average it takes $2000 to get the license. St Vincent Forex company formations usually take around one week. Also, the advantage is there’s no Forex regulation in St Vincent. Comparing the license from the UK’s Financial Conduct Authority, the latter costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits.

Overall BRFX Ranking 

Our research results revealed multiple problems with the safety and regulations of BRFX, so we do not rank positively BRFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • BRFX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
RankingBRFXXMFP Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading InstrumentsTrading Platforms

BRFX Alternative Brokers

Due to our negative finds on BRFX here we offer much better Alternatives to BRFX with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

Deposits and Withdrawals

BRFX offers funding through Local bank transfers and debit/credit cards.

  • There are no additional charges for deposits. Funds are reflected in the account after the user’s account has been authorized. If the user fails to confirm that he or she is identified and authorized to use the payment method, BRFXtrade might reject and refund the payment.
  • Traders can request a withdrawal during regular office hours. The payment will be processed within 7 (seven) business days, after which the payment will be made via the original payment method.

BRFX Trade 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 Pepperstone and TMGM.

 

  • Overall ranking and experience for BRFX is Negative

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One response to “BRFX Trade”

  1. Brfxtrade is scammers not to be trusted, I lost my money with amount of USD 80,000.00.

    Please be careful do not go as you will lose.

    Thanks,

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