BestonFX is a forex and CFD (Contracts for Difference) broker headquartered in the UK, specializing in providing clients with a variety of CFD trading services in forex, indices, commodities, and more. It supports the widely used trading platform MT4. Currently, the regulatory information of BestonFX is not detailed. The company's official website is: https://www.bestonfx.com/, and the official website offers Thai language support.
Corporate Background of BestonFX:
BestonFX claims to be part of Beston International Group Limited. Beston International Group Limited was established in the UK with a registered address at Unit 1804 South Bank Tower, 55 Upper Ground, London, England, SE1 9EY, with the registration date being January 16, 2023. According to Whois search, the domain name of this broker's official website was registered on January 11, 2023, with less than a year of registration.
Regulatory Information of BestonFX:
BestonFX claims to be regulated by MSB (Money Services Business); however, it is important to note that MSB is not a forex regulatory body, thus BestonFX lacks a recognized and valid regulatory platform.
Trading Software of BestonFX:
This broker offers the Meta Trader 4 applicable for Android and Windows for users.
Trading Accounts of BestonFX:
The broker has not disclosed detailed information about account types, spreads, commissions, etc., which might raise safety concerns. It is advisable to be cautious while selecting this broker's services to avoid falling into scam traps.
Operational Regions of BestonFX:
BestonFX is not allowed to offer related services to the US, the EU, countries on the FATF blacklist, and jurisdictions prohibited by law.
Educational Resources of BestonFX:
BestonFX does not provide educational resources on its official website regarding trading, such as knowledge in technical analysis, risk management strategies, and market trends, which may negatively affect traders.
Customer Support of BestonFX:
BestonFX's official website does not provide any customer support methods. If traders encounter problems, they cannot contact BestonFX.
Summary:
Although BestonFX offers a diverse range of market tools and supports the MetaTrader 4 trading platform, its regulatory information shows it is only regulated by MSB, which is not a specialized forex regulatory entity. This raises concerns about its regulatory effectiveness and safety. In addition, specific information about trading accounts lacks transparency, and there are insufficient educational resources. Currently, BestonFX is marked as "Suspected Fraud" on TraderKnows.
