de | cn | ru

BuzzFX Review - Is it scam or safe?

BuzzFX Review - is buzzfx.com scam or safe?

RATING: 1.4 / 2 REVIEWS ForexBrokerz BuzzFX
BuzzFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS

Scammed by BuzzFX ? Click here!

Trading Accounts & Conditions

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads (& Commission)
Spread $200 0.01 1:400 From 1.2 pips
Commission $200 0.01 1:400 From 0.4 pips + $8 / lot round trip

 

BuzzFX offers its clients two basic account types, depending on the way in which the broker gets remuneration through its services – through the spread or via charging commission fees. Otherwise, both account types are accessible with an investment of $200, offer variable spreads, and leverage up to 1:400.

 

Discounts on spread/commission are available for clients trading in high volumes (above 100 lots per month). They can get spread as low as 1 pips on EUR/USD or commission amounting to $6 per lot round trip.

 

Overall, the trading conditions of BuzzFX are reasonable – the minimum initial deposit required and maximum leverage provided are standard for the FX market. The spreads offered by this broker are also average, starting from 1.2 pips for the EUR/USD. Minimum trading costs on the Commission account are the same – spread of 0.4 pips plus a commission of $8 round trip. For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

 

The Company. Security of Funds

 

Company

Country

Regulation

Buzz FX Limited

Vanuatu

VFSC

 

BuzzFX is a young offshore brokerage that offers trading in more than 50 currency pairs, CFDs on13 indices, oil and precious metals through the MetaTrader 4 (MT4) platform.

 

It claims to be a STP/ECN broker and says that keep client money in segregated accounts. However, we cannot be sure, as the company behind the BuzzFX brand, Buzz FX Limited, is a Vanuatu registered IBC.

 

Vanuatu is an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and low cost. Minimum capital requirements are very low, even compared to other offshore destinations, such as Mauritius and Belize: only $2000.

 

We advise traders to avoid non-regulated and offshore brokers and to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and where financial watchdogs exercise supervision over financial services providers.

 

Trading Platforms

 

BuzzFX offers its clients the most popular forex trading platform, MetaTrader 4 (MT4). It is easy to use and offers all a trader needs: a number of analysis indicators, extensive back-testing options, advanced charting tools, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. It comes in desktop, and mobile versions with this broker.

 

VPS service is also available with this broker (from $35 per month).

 

Methods of Payment

 

BuzzFX offers its clients the following payment modes: credit/debit card, bank wire transfer, and e-wallets Alipay, WeChatPay, China UnionPay, and ecoPayz.

 

Conclusion

 

BuzzFX is a new offshore forex and CFDs broker that uses the standard MT4 and claims to offer pure NDD environment. In our view, the main problem with this broker is that it is not regulated. Also, there aren’t any user reviews available for this broker. Here are, in a nutshell, the pros and cons of BuzzFX:

 

Pros   Cons
Competitive spreads Not regulated  
NDD environment       
MT4 available    

                                                

Latest news about BuzzFX
No news about BuzzFX . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for BuzzFX

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

 

 

Reliable new broker

I started trading with BuzzFX a couple of weeks ago after starting on a Demo account. Initially I perform extensive research when choosing a new, especially young broker but they have been reliable since.

I had a few queries on my account and they were answered within a few minutes which is generally a good bonus and have lots of useful little tools such as the economic calendar and signals.

I've only been trading with BuzzFX for a few weeks but overall I am satisfied with the broker so far.

ForexMartey 03/18/2017
de | cn | ru