BForex has offices around the world including Australia, Dubai, Panama, and Turkey. BForex does accept U.S. traders and has been in business since 2007. They operate in the GMT time zone and their customer service center can be contacted by phone, email, or live chat. BForex offers trading products that include currency, commodities, indicies and stocks. BForex has an easy to follow website to traders of all levels can easily navigate and begin trading.
Bforex has tools and analyses to help with any trading needs. The analyses that Bforex has are fundamental and technical analyses. Bforex also provides videos, economic calendars, and charts to teach customers how to become successful traders. BForex has a glossary of forex terms and webinars to assist traders as well. This company has received awards for Site of the Year from Sitecore and a Foreign Exchange Award from World Finance for their 24 hour account management services, their personal training sessions, promotions, and bonuses.
Traders should know and follow the tax laws of their company when they engage in online trading. BForex is a member of the IBCIM and ETrust and accounts can be funded by wire transfer or by an accepted credit card. These cards include Visa, Diners Club, Delta, and MasterCard.
BForex Trading Platforms
BForex has a non-downloadable platform, a downloadable platform, as well as a mobile trading platform. PROfit is BForex’s proprietary trading platform is a downloadable to a personal computer. Traders can access new, support, and trading tools directly from the platform. The platform is an easy to use format so traders can simply drag and drop their trades in the platform. With the PROfit platform there are no re-quotes, no slippage, features for beginners and professional traders, advanced charting system, up to date streaming news, and instant trade execution.
BForex also has the MetaTrader4 available for traders and has features like real-time rates, secure trading platform, personalized screens, multiple currency chart viewing, user-friendly layout, professional charting system, no slippage, features for beginners and professionals, and multilingual support.
BForex also has a mobile trading platform for the iPhone. This trading platform is an application that can be quickly downloaded to the trader’s iPhone. With this trading platform, traders can login to their BForex account, receive financial news, execute trades from their phone, receive currency quotes, views charts and graphs, and edit trade positions. There are multiple platform and support languages available including English, Spanish, Russian, Arabic, and French. Traders can trade commodities such as gold, silver and crude. A typical EUR/USD spread is 3 pips.
Other currency pairs that can be traded include:
AUD/CAD, USD/ZAR, AUD/CHF, USD/TRY, AUD/JPY, USD/HUF, AUD/USD, USD/RON, AUD/NZD, USD/PLN, CAD/CHF, USD/MXN, CAD/JPY, USD/JPY, CHF/JPY, USD/RUB, EUR/AUD, USD/HKD, EUR/CAD, USD/CHF, EUR/CHF, TRY/JPY, EUR/DKK, USD/CAD, EUR/GBP, NZD/USD, EUR/HUF, NZD/JPY, EUR/JPY, NZD/CAD, EUR/NOK, NZD/CHF, EUR/PLN, GBP/USD, EUR/NZD, GBP/NZD, EUR/RON, GBP/SGD, EUR/SEK, GBP/JPY, EUR/TRY, GBP/CHF, GBP/CAD, GBP/AUD, Gold – XAU/USD, Silver – XAG/USD, and Crude – CLD/USD.
The stocks that BForex trades are Apple, Bank of America Corporation, Boeing, Coca Cola, Citigroup, Walt Disney, General Electric, Google Incorporated, Hewlett Packard, Intel, IBM, JP Morgan, Microsoft, and Yahoo. The indices that BForex trades are NASDAQ, DAX, Dow Jones, Hang Seng, Merval Argentina, IBEX 35, Bovespa Brazil, Nikkei 225, NYSE, CAC40, RTS, S&P, and FTSE.
Account and Trading Information
BForex offers a demo account for beginners who wish to learn how to trade before they use real money. With the demo account, traders receive $100,000 of play money to practice with, the demo account is available in the PROfit and MetaTrader4 platforms, access to trading tools, and the account is fully functional for one month. When the trader feels ready, they can upgrade to a standard account in the PROfit and MetaTrader4 platforms. The PROfit platform has a minimum account opening deposit of $100, 24 hour support that can be accessed directly from the platform, personalized interface, one-click trading, no fees or commission, leverage of 1:200 on all trades, no slippage, and tight spreads.
With the MetaTrader4 has a minimum account opening deposit of $250, no fees or commission, up to 0.5% margin, no re-quotes, and charts and tools on the platform. BForex also has bonuses and promotions for their traders that include a welcome bonus on first deposits. If a trader deposits $300-$499 then they will receive a welcome bonus of 5%, if a trader deposits $500-$999 then they will receive a welcome bonus of 15%, and if a trader deposits over $1000 then they will receive a welcome bonus of 20%.
BForex also holds ‘Happy Hour’ events where prizes and bonuses are given away to anyone who participates. There is also a competition called ‘Master Trader’ where the top traders are given credit bonuses. The ‘Master Trader’ receives a $4,500 credit bonus, 2nd place trader receives a $3,000 credit bonus, and the 3rd place trader receives a $2,500 credit bonus. On top of this, the top four traders of the week each receive a $500 credit bonus also.
There are some terms that all traders should understand before they begin traders.
Some of these terms include:
- Hedging Capability: Hedging is the act of holding a position or multiple positions in order to reduce the risk of money loss. Speak to Bforex’s customer service department on their Hedging policy.
- Fixed Spread: A spread is the difference between bid and ask prices. A fixed spread is a spread that does not change or adjust to market fluctuations. Fixed spreads are larger than variable spreads to account for market fluctuations. Fixed spreads are more expensive for traders. BForex does have fixed spreads available for their traders.
- Order Processing: Orders are instructions to make a particular trade at a specified time. Each company has unique policies on how orders are processed. Speak to BForez’s customer service department to find more information on their Order Processing policy.
- No Dealing Desk Execution: This is a trading technique that uses multiple providers to find the best ask and bid prices. BForex does have a No Dealing Desk Execution option.
- Swap-Free Accounts: A swap is simultaneous purchase and sale of a currency pair that is made at a certain rate of exchange. Some traders do not participate in swap trades because of religious or personal reasons. Swap-Free Accounts are available for traders who do not make swap trades. These accounts are meant to compensate for the loss in profit of not engaging in swap trading. Speak to BForex’s customer service department to find more information on their Swap-Free account policy.
- Guaranteed Stop Losses: Guaranteed stop losses stop trades automatically to reduce the amount of money lost. BForex does have a Guaranteed Stop Loss policy.
- Liquidity: Liquidity is the measured effect of large transactions on asset prices. Higher liquidity means a lesser effect on asset prices by large transactions. Speak to a member of BForex’s management team to find more information on Liquidity.
- Interest on Margin: Margin is the amount of money necessary to hold an open position. Some brokers and companies will charge interest fees on marin. Speak to BForex’s customer service department to find out more information on their Interest on Margin policy.
- Scalping: Scalping is also known as quick trading. This kind of trading involves holding a position for seconds or minutes in an attempt to lower the risk of loss. Traders accumulate small amounts of profit over time. Speak to BForex’s customer service department to find more information on their Scalping policy.
- Phone Dealing: Phone dealing entails a trader conducting their trades over the phone through a representative. Speak to BForex’s customer service department for information on their Phone Dealing policy.
Areas of Activity
bForex has won many awards for safety and smoothness in its stint with brokerage. It holds credible regulations in Australia, Dubai, Panama and Turkey. It plays the game through involving third parties for discreet analysis of trades and keeping audited reports of annual trades. Its premier company value is transparency and fairness. Its corresponding address is in UK while clearing support comes from Cyprus.