The cryptocurrency broker BforFinance declare itself as London based on its authoritative webpage. It offers a single universal trading account. Traders may get the impression of bitcoin exchange from its presentation but in reality, it provides CFDs over crypto coins. However, this is not a major problem. The broker hides all the crucial information needed to know before trading with it. Also, it is a completely anonymous cryptocurrency broker. Our in-depth researched BforFinance review will shed light on all the critical factors of it.
To craft a unique, comprehensive and unbiased review we must compare possible advantages and disadvantages of BforFinance. In the first place, we will discuss all the possible advantages of it. The broker offers Contract For Differences on almost every possible crypto coins. They are traded against each other and real currency.
Here we will discuss all the disadvantages of BforFinance brokerage services provider. The broker declined to share any valuable information about licensing, regulation, trading conditions offered not even the owner of the brand. It mysteriously displays an address from London, UK and French-based telephone number. All of this raises the suspension around BforFinance. Nevertheless, the French local financial authority named Aouthorite Des Marches Financiers has blacklisted BforFinance for providing unauthorised brokerage services to French traders. As said such unregulated, unlicensed and blacklisted broker always act as a scam cryptocurrency broker and has zero credibility. On top of that, the broker does not make sure what are its offerings. An unproven web trader trading platform is seen on the site but the broker does not allow free testing. Many traders prefer trading on a MetaTrader trading platform that has several magnificent features like Expert Advice, Auto Trading Bots, over 60 market indicators, several charts and multiple account management facilities with a principal manager account. The broker only offers CFDs over crypto coins, no real currency is traded. Also, CFDs over commodities, stocks, and indices is missing from the offering.
Is BforFinance scam or legit?
The broker BforFinance is unlicensed, unregulated and blacklisted by the French financial regulator. The trading conditions are not shared with the clients initially and a poor performing web trader trading platform is offered. Only cryptos are available for trading. Therefore, it is a potential scam cryptocurrency broker. The crypto market is not regulated completely and we want our followers to be safe. Therefore trade wisely.