BDFX is a forex broker registered in Saint Vincent and the Grenadines, established on September 23, 2021. This broker mainly provides forex trading services through MT5 and its respective applications. In addition, the broker does not offer services to customers residing in countries/regions where the trading of forex/CFDs is restricted or prohibited by law/regulation.
Company Registration Information and Regulatory Status:
Public information on the BDFX official website reveals that its registered company entity in Saint Vincent and the Grenadines is Blue Dragon LLC, with a business registration number of 1438. This entity is authorized and regulated by the MWALI International Services Authority, under license number T2023388.
Upon verification, the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) lists an entity named Blue Dragon LLC with the registration number 1438. The MWALI International Services Authority also lists this entity, and the license number is indeed T2023388. However, the SVGFSA does not regulate, supervise, manage, or grant licenses to IBCs engaged in forex trading or brokerage services. Meanwhile, the MWALI International Services Authority is an offshore regulator with relatively weak regulatory power.
Additionally, according to information obtained from a Whois query, the domain name of this broker's official website was registered on August 30, 2021.
Opening an Account:
BDFX Account Opening: Visit the broker's official website, click "New Registration" in the top right corner of the web page to enter the account registration page, fill out the registration form and submit. Your account will then be successfully registered.
Trading Account Information:
BDFX offers four different types of real trading accounts: STANDARD, ECN, PRO, MAM.
STANDARD:
- Spreads: As low as 1.5 pips
- Trading Commission: Free
- Maximum Trading Leverage: 200 times
- Maximum Lot Size per Trade: 00 lots
- Maximum Open Positions: Unlimited
- 24-hour Quick Deposit and Withdrawal
- Minimum Deposit Amount: Starting from 10,000 JPY
- No Account Opening Fee or Maintenance Fee
ECN:
- Spreads: Starting from 0.1 pips
- Trading Commission: Yes
- Maximum Trading Leverage: 200 times
- Maximum Lot Size per Trade: 100 lots
- Maximum Open Positions: Unlimited
- 24-hour Quick Deposit and Withdrawal
- Minimum Deposit Amount: Starting from 10,000 JPY
- No Account Opening Fee or Maintenance Fee
PRO:
- A professional STP/ECN account with no buy-sell fees or trading commissions
- Spreads: Customizable
- Trading Commission: Customizable
- Maximum Trading Leverage: 200 times
- Maximum Lot Size per Trade: 100 lots
- Maximum Open Positions: Unlimited
- 24-hour Quick Deposit and Withdrawal
- Minimum Deposit Amount: Starting from 10,000 JPY
- No Account Opening Fee or Maintenance Fee
MAM:
- Automatically reflects the trades of traders or EAs into the user's MT5 account, distributing profits and losses.
- Spreads: Customizable
- Trading Commission: Customizable
- Maximum Trading Leverage: 200 times
- Maximum Lot Size per Trade: 100 lots
- Maximum Open Positions: Unlimited
- 24-hour Quick Deposit and Withdrawal
- Minimum Deposit Amount: Starting from 10,000 JPY
- No Account Opening Fee or Maintenance Fee
Trading Platform:
BDFX offers MT5 trading accounts, including desktop and mobile versions. Research indicates that this broker can only link existing accounts on MT5 and cannot open new or demo accounts on MT5.
Deposits and Withdrawals:
BDFX has not explicitly published the methods, fees, etc., for deposits and withdrawals on its official website.
Summary:
Traderknows reminds investors that BDFX is a forex broker with only offshore regulation, which is extremely weak, and communication with the broker is limited solely to email, offering a very limited contact method. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation for investment and trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
