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BS Trading Review - is it scam or safe?

BS Trading Review - Is bstrdltd.com scam or good forex broker?

RATING: 1.9 / 1 REVIEWS ForexBrokerz BS Trading
BS Trading is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


BS Trading is a Vanuatu based broker, offering over 50 forex pairs, as well as CFDs on spot metals, indices and crypto currencies. However, if you are thinking about opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $1 1:1000 0,3 pips

 

BS Trading advantages:

 

Wide variety of forex pairs, as well as crypto currencies

 

BS Trading offers 54 forex pairs including some exotic currencies like Chinese Yuan, Singapore Dollar, Hong Kong Dollar, Mexican Peso, Danish Krone, Swedish Krone, Norwegian Krone, Turkish Lira, Russian Rubla, South African Rand, Polish Zloti and Hungarian Forint, as well as CFDs on silver, gold, palladium, platinum, copper, oil, indices and crypto currencies including Bitcoin, Ethereum, Lite Coin and Ripple. Still here you can check our list of brokers also trading with Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:1000

 

The maximum leverage offered by BS Trading is 1:1000, which is more than enough to accommodate even the most aggressive trading strategies. Yet here you may check our list of brokers also offering high leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

Competitive spreads

 

Although on its website BS Trading says its EURUSD spread starts at 0,5 pips, when tested with a Demo Account the EURUSD spread was as low as 0,2 pips - 0,3 pips, which is basically as good as it can get. Besides no commission for the trade was taken. Such spreads are pretty impressive and usually come with the premium accounts. But as BS Trading is offering just one standard account type you will be able to enjoy low cost trading form the very start. Still here you may want to check our brokers, offering similarly tight spreads:

 

>> Lowest spread forex brokers<<

 

You can open an account with just 1 USD

 

You can open a trading account with BS Trading with just 1 USD, which is great as with most brokers the minimum deposit requirement is around 100 USD. Still there are big brokers like XM and FXTM, which also have minimal deposit requirements and offer starting accounts with a minimum deposit of just 5 USD.

 

MetaTrader4 available

 

BS Trading offers MetaTrader4 for PC, Apple and Android and that is good news, as the platform is well known to the trading community. It has excellent charting capabilities and more than 50 in-build indicators, available to explore the markets. However the best known feature of MT4 is the automated trading option, where you can compile your own indicators and trading algorithms on a specially designed scripting language – the MQL4. Here you can check our list of brokers also offering the MetaTrader4 platform:

 

>>Find other MT4 brokers here<<

 

Various payment methods available

 

With BS Trading you can deposit and withdraw funds with VISA, MasterCard, UnionPay, Neteller, Skrill and bank wire. Still, we do not see another popular e-wallet – PayPal, so here you can check our list of brokers, offering PayPal as a payment method:

 

>>PayPal Forex Brokers<<

 

Support in 104 languages

 

BS Trading website is supported in 104 languages form Deutsch and Italian to Hindi and Swahili. Still when we tested the site in a couple of other languages besides English, it turned out the quality of the translation is very poor. Anyway, the English language version of the presentation is written accurately, so we will stick to it.

 

BS Trading Disadvantages:

 

No license by a respected financial authority

 

BS Trading Ltd.  is registered in Vanuatu and is supervised by the Vanuatu Financial Services Commission (VSFC) as a regulated financial services provider. 

 

We should note here that while having a Vanuatu license is better than not being regulated at all, the Vanuatu license does not give investors much security. Vanuatu is a small island in the South Pacific, several hundred miles off the shore of Papua New Guinea, which simply does not have the capacity to enforce any regulations. 

 

Well established financial authorities like the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) on the other hand do provide sufficient security to investors. 

 

CySEC, FCA or ASIC licensed brokers had to follow strict fiscal discipline, keeping at all times certain minimum capital adequacy ratio. With CySEC and FCA brokers the minimum operational capital requirement is set at 730 000 EUR, while with ASIC the minimum capital is 1 000 000 AUD. Regulated brokers are also obliged to guard all clients funds in a segregated, trust account.

 

In addition FCA and CySEC brokers have to  participate in clients money insurance schemes. With the FCA backed Financial Services Compensation Scheme traders can receive back up to 50 000 GBP of their trading capital, while a similar CySEC scheme insures up to 20 000 EUR. Here you can check our list of FCA regulated brokers:

 

>>Find FCA regulated Brokers here<<

 

No negative balance protection

 

This means you can loose more money than you have deposited if the slippage of a certain currency pair results in a negative balance. This can not happen to you with CySEC and  FCA regulated brokers for example. So here you can check our list of CySEC regulated brokers:

 

>>Forex brokers in Cyprus<<

 

Conclusion:

 

BS Trading is an offshore broker, regulated in Vanuatu and this, as we have already noted, does not provide much security to potential investors. Lack of proper regulation by a respected financial authority always lowers the reputation of a broker. And although the trading conditions, offered by BS Trading, are not bad at least as tried with the Demo Account, we can not give the broker a higher grade because of its hazy regulatory status.

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Traders` reviews for BS Trading

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Price feed

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Platform

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Contact me

People who can speak Japanese, please contact me. I am in trouble because I can not withdraw money. I do not hear from Japan.

Mitsuko Wake 11/02/2018
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