Is BRFX Trade a scam or a 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 authorisation or registration of the address, therefore the company seems to be highly suspicious while 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

BRFX Trade is owned by the BR Consulting Group Ltd. It is an offshore Forex broker registered in the St. Vincent and the Grenadines with a Financial Services Authority. It is risky to deal with the offshore registration brokers as in 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 UK’s Financial Conduct Authority, that costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits.

Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the 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 AvaTrade and XM.com.

Yet, it is always great to hear your personal opinion about BRFX. So you may share your experience or thoughts or discuss them below or ask us for additional information.

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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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