BForex Is Why Im Broke

 50 Words on – Why you can go Broke with BForex?

To keep the long story short, Bforex can refuse to pay your money and then point to some unclear section of their Terms and Conditions which doesn’t even explain why they did it. This happened to a client of theirs who made the whole story public on forexpeacearmy.com. Consequently Bforex is blacklisted and rated Scam on forexpeacearmy.com [1], [2]; also, the British Virgin Islands Financial Services Commission has issued “Cease and Desist” order against Bforex, prohibiting them to operate “… in or from within the Territory” [3]. The majority of their clients complain they cannot withdraw and several positive reviews have been proven to be posted by Bforex representatives under different names. So… why can you go broke with Bforex? I don’t know… pick your poison.

 

How to avoid going broke with BForex

  • The safest way is: Do not open an account
  • Do not open an account.
  • Nope, I am not senile and I didn’t forget in seconds what I’ve already written but I really have nothing more to say than “Do not open an account if you don’t want to go broke”
  • Choose another broker
  • I usually recommend reading the Terms and Conditions of the broker you are about to invest with… but it’s pointless to read them in Bforex’s case because they can hold on to your money and then claim you violated some rule that doesn’t even exist (see [2]).
  • If you still want to trade with them – for whatever reason – go ahead, you are an adult.

 

Is BForex a Scam?

Well, they are not even regulated and a lot of people seem to think they are a scam; the BVI Financial Services Commission seems to think this that way; Forex Peace Army blacklisted them and gave them the Scam rating, there are tons of reviews written by people who never saw their money again… But maybe they are not a scam. Maybe they are the most legit and trustworthy broker out there… maybe there’s life on Mars.

 

Editor’s Note – Would I Trade with BForex?

Hahaha that’s a good one! Sure, I would trade with them… in about a million years from now. What, am I crazy? All other brokerages exploded and this is the last one on earth? Are the good brokers too full to accept new clients? Even if the answer to my last 3 question would be Yes, I still wouldn’t trade with Bforex! Hope that clears it up.

 

References

  1. BForex on FPA
  2. BForex FPA Court Case
  3. BVI Publications

 

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