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BFP Markets Review - is it scam or safe?

BFP Markets Review - is bfpmarkets.com scam or good forex broker?

RATING: 1 / 7 REVIEWS ForexBrokerz BFP Markets
BFP Markets is an offshore broker. Your money is not safe.

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 Trading accounts and Conditions

 

Account type
Minimum deposit
Minimum trade size
Maximum leverage
Average Spreads (&Commission)
Mini
$100
0.01
1:200
Standard spread/ECN spread + commission
Gold
$3 500
0.1
1:200
Standard spread/ECN spread + commission
Premium $15 000 0.1 1:200 Custom

 

BFP Markets offers several account types, all of which are said to provide two options: commission-free trading with traditional spreads, or ECN spreads with commission fees. Spreads themselves are not specified, nor are leverage levels.

 

In addition, this broker offers managed accounts (MAM).

 

BFP Markets Advanatges:

 

- MT4 available

The trading platform supported by BFP Markets is no surprise to anyone who has the slightest idea of forex trading. MetaTrader 4 is the most widely used FX trading terminal worldwide. It offers reliability, ease of use, customization options and a variety of technical analysis indicators and Expert Advisors (automated strategies). Besides, it is highly praised for its great charting package.

 

>> The best MT4 brokers<<

 

- Reasonable leverage levels offered

As we have mentioned above, BFP Markets has not announced the leverage ratios it provides to its clients on the website. However, we tried out its demo MT4 platform, and found the maximum leverage levels available 1:200. This is the average ratio in the forex industry.

 

>>Brokers offering leverage of 1:500 or higher<<

 

If you need higher levels, many brokers offer such, but before taking this risk, make sure ypou fully understand how leverage works.

 

BFP Markets disdvantages:

 

- Registered offshore

Thousands of brokers are registered offshore, mainly due to the low-cost procures, favorable taxes and few (if any at all) requirements such companies have to meet. BFP Markets is one of them. The fact that it is registered in the Marshall Islands basically means that its clients are not protected in case the company manipulates the trading platform, goes bankrupt or simply disappears with all the money.

 

>>Why should you avoid offshore brokers?<<

 

- Poor presentation of company, trading conditions

All decent brokers state their pricing and trading conditions in a clear manner. Traders should be able to calculate in advance at least their trading costs, right?

 

That is why we consider a disadvantage when a broker does not indicate the spreads it provides, or the initial deposit it requires on its website. BFP Markets has neither specified the spreads, nor the leverage levels it offers.

 

What is worse, the name of the company operating the brokerage brand and the website is also unclear.

 

- Unrealistic spreads on demo accounts

When we tested BFP Markets’s MT4, the spreads on EUR/USD were floating from 0 to 0.4 pips, without any commission fees. Such trading costs are so low that there is no way for the brokerage to be profitable.

 

 

Even global brokers who offer deep liquidity like IG offers spreads averaged 0.6 pips on EUR/USD. So, we doubt that BFP Markets’ spreads are that low on live accounts.

 

Conclusion

 

After reviewing thousands of brokers, we can tell when a company seems suspicious and is likely a scam. Well, this is exactly the case with BFP Markets.

 

It is registered offshore and provides a contact number in the UK. In its terms and conditions, it claims that the company owning the brand and the website is Investment Oportunities Limited (the original spelling). We googled the company name and found no results. When we downloaded the broker’s MetaTrader 4, the name of another company appeared - All Trade Technologies Ltd. It appears that this company operated AlgoTrade – a binary options broker and scammer which closed up shop in the beginning of 2017.

 

Considering the above said, we don’t recommend BFP Markets. There are a number of well-regulated brokers which have proved to be reliable and loyal to their clients. You’d better not waste your time and money on shady companies.

 

>>Brokers regulated by the FCA <<

 

Pros

Cons

MT4 available

Registered offshore

Many various instruments available for trade

Poor presentation of trading conditions

Many various instruments available for trade

It is unclear which company operates the brand

 

Spreads on demo MT4 unrealistically low

   

 

Latest news about BFP Markets
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Traders` reviews for BFP Markets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

THE BFP is now MGM MARKET

The BFP Markets, has changed name to "MGM Markets", and has now an URL: www.mgm-markets.com
be warned, - it's highly criminals operating business.
one of the financial's name is: "Vincent DeLucca",
- they also call them-self as "Marek Thompson Company", - BR Financial Investment solutions, Trading Platform Sparta500" and many oter names,
the phone number from they calling is " +44 7978 206313 "

Clint 06/17/2019

"Steven Parker" is the cheater from "BFP market"

immediately after request the money back, - BFPmarket close their site, - be aware on their tactic, - here is the conversation vs that "Steven Parker" niggerian, - https://youtu.be/r1BneWOJfH8

indigo 05/29/2019

Pressure from broker

very confused way to works with, - asked my money back, and close account, waiting for "result" ...

indigo 05/28/2019

Fraud bfp mkt fucking hell

Fraud people read my review in my past nov2017 to until now today oct2018 fucking hell edward yranson nvr release my $250 give me back my fucking hell my money dont come untill there i will be write review when i will free got it! basterd fucj
King i not free to write rview u bloody hell making me busy fuckr edward rynson i not free to report any where i send u g8ve me back my $250 other wise basterd edward rynso i will make always this type of review

Salim 10/06/2018

BFP Markets mark francis manager har gjort fel!

Bedrägeri! Jag öppnade konto september 2017 på 250 dollar. Men inget fungerade till min belåtenhet. Därför begärde jag återbetalning. Inget hände. Inget fungerade. Jag lämnade in körkortskopia, elfakturakopia och betalkortskopia. Deponerade 250 dollar och efter några handelstransaktioer av Mark var kontot ca 350 dollar. Han ville inte fortsätta förrän jag deponerat mera för större affärer. Jag stod fast vid återbetalning men inget händer. Någon som vet hur jag kan få återbetalt?

Translated by Google:

Fraud! I opened a $ 250 deposit in September 2017. But nothing worked to my satisfaction. Therefore, I requested a refund. Nothing happened. Nothing worked. I submitted a driving license copy, electric bill copy and debit card copy. Deposited $ 250 and after some trading transactions by Mark, the account was about $ 350. He did not want to continue until I deposited more for bigger business. I was in charge of repayment but nothing happens. Anyone who knows how I can get repaid?

Stig Nyberg 07/29/2018

Fucking hell bfp mkt cheater

I deposited$250 in bfp mkt and then bfp mkt platform forex cant access in mobile only
access in computr i dont have computer so cant strt trading and after i asked withdraw money on 24nov17 but today 23june18 my money havent come back nvr call me or reply my email bastered fucking hell and as i read some review tht account manager also edward rynson my acct manager also edward rynson beware from him guys he is cheater he was asked in begining deposit more money how can u and u r company cheater my cock also cant ddeposit money depend u and ur company send me my money and contact me back how many people u bluff better u do honest people can come back too u and do work with u i recommend iq option,fm-fx good fm fx give me my money back 150$ &iq option even $10 also had send me back i recommend guys us this two brokerthis bfp is fucking hell bluffer cheater bastered.

Salim 06/23/2018

Report to FCA

I am currently awaiting my withdrawal and it has not arrived. i doubt it will ever arrive. i have been told it will take up to 90 days.

Get onto the FCA UK website and log a complaint. I certainly have done this whilst i wait for my money.

Thereafter get onto action fraud

Pretesh Vallabh 05/09/2018

BFP Options, BFP FX and BFP Markets are all fraudulent

I was introduced to BFP Options via a sugnals company. I deposited £250 initially and started trading. I was soon invited to deposit more and, if I added a further £750, a fund manager would make trades and this would increase my account level more quickly. Indeed, my funds did increase, entuallt reach over €300. I was then contacted by a "Senior" fund manager (Edward Ryanson) who suggested by adding more funds he could increase the account significantly. I explained that I would need to see that my money could be withdrawn before adding any more. We agreed that i should reqest €300 (just to prove the concept). It took a little while but it was refunded. On returning from a long driving holiday I then requested a further €1200 in order to pay for a car repair, in October 2017, but, while the account balance was reduced by the €1200 from a balance of €3000, no money was ever deposited in my bank account. Despite numerous emails and Skype requests, I have still not received this money. Additionally, I can no longer able to access my BFP FX account. You will notice that BFOOptions are now BFPFX. BOTH of which are connected to BFP Markets. Total scammers in my opinion. Beware.

Stephen Lane 04/09/2018

Dirty people

See how they scam you n write to you. They use the fuck in their messages... careful real scammers

Hari 03/05/2018

Bfp market cheater 22nov 2017 I had withdrawal 250dollar but today is 18jan 2018 I nvr receive back money

I had 22nov my account manager called me last aftertht until now he didn't call me or didnt text me or my email reply I had until now around 100emailed them but they nvr reply even support team
Also cheater bfp market not safe u r money fucking hell service I will update my review always bfp market until my money don't give me back my money

Salimghanchi 01/18/2018

My withdraw money $250 I Nvr receive yet I had applied on 22nov17 today is 26dec17

Very bad expirience no so many I had emil almost 100 email in one month but no body reply yet even account manager or bfp support team so can u pls asap reply my email and help me to transfer my money I have problem so I had decided withdrawal and after I no problem I strt again but if like this service have to think again if need to do strt trading with u r company or not let see how if my money come back to me then I can think if I again do or not with u r company again strt trading?i had understood 1month more can Be a transferring delay but no body even my email reply and Nvr tell me wt is problem Nvr support support is 0star so can u pls note my complaint and guide for my money return back thanks.salim.

Salimbhai hasambhai ghanchi 12/26/2017
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