BACFX-R is an emerging CFD broker, with its domain established on January 14, 2024. Despite offering a wide range of financial derivative trading services including forex, precious metals, commodities, indices, stocks, and cryptocurrencies, its official website does not provide detailed registration information. Additionally, BACFX-R has no corresponding regulatory records. This lack of transparency and regulatory information may raise concerns and doubts among potential investors.
Background of BACFX-R:
The BACFX-R platform's domain was established on January 14, 2024. Although it offers a variety of trading products and services, the company's registration information is not explicitly provided on its official website. This lack of transparency may cause potential investors to be concerned and doubtful. To better understand and assess BACFX-R's legitimacy and compliance, investors should carefully verify its background information and consider the platform's credibility in terms of the regulatory and security measures it provides.
Regulatory Information of BACFX-R:
BACFX-R claims to be an online trading service provider established in the UK and claims to be regulated by the National Futures Association (NFA) in the United States, with NFA ID 0539541. However, upon inquiry, it was found that NFA ID 0539541 does not have any information related to BACFX-R, indicating that the platform is not actually regulated by the NFA in the United States.
This situation is clearly inconsistent with the claims made by the BACFX-R platform, indicating that it is not under any actual supervision by financial regulatory authorities. This lack of regulation means that investors’ funds and trading activities may not be effectively protected and secured, increasing the investment risk.
Account Registration Process at BACFX-R:
- Visit the BACFX-R official website and click on the register button
- Fill out the application form
- Submit identity verification/my number verification documents
- Deposit funds and start trading
Account Types at BACFX-R:
BACFX-R offers two main types of accounts to cater to different traders' needs:
STD ACCOUNT
- Base Currencies: USD, GBP, CAD, AUD, EUR, SGD, NZD, HKD, JPY
- Trading Products: All products
- Minimum Deposit: $100
- Average Spread: 1.3
- Commission: $0
- Maximum Leverage: 1:500
- Margin Call Level: 120%
- Stop Out Level: 50%
- Minimum Trade Size: 0.01
- Maximum Trade Size: 100
PRIME ACCOUNT
- Base Currencies: USD, GBP, CAD, AUD, EUR, SGD, NZD, HKD, JPY
- Trading Products: All products
- Minimum Deposit: $1000
- Average Spread: 0.1
- Commission: $7
- Maximum Leverage: 1:500
- Margin Call Level: 120%
- Stop Out Level: 50%
- Minimum Trade Size: 0.01
- Maximum Trade Size: 100
These two account types provide traders with flexible options. The STD account is suitable for beginners or small investors, while the PRIME account is more suitable for advanced traders seeking low spreads and high leverage.
Trading Software at BACFX-R:
BACFX-R offers MetaTrader 4 (MT4). MetaTrader 4 (MT4) is a popular trading system known for its powerful capabilities and flexibility, catering to the needs and preferences of various investors. The MetaTrader platform provides an extensive range of analytical tools, charts, and automated trading functions, enabling traders to effectively execute a variety of trading strategies.
Trading Products at BACFX-R:
BACFX-R offers a variety of financial trading products to meet the needs of different types of investors. These products cover multiple markets and provide numerous investment opportunities:
- Forex: BACFX-R offers a wide range of forex trading services, covering major, minor, and exotic currency pairs. Investors can trade pairs such as EUR/USD, GBP/USD, and USD/JPY, earning profits through exchange rate fluctuations.
- Precious Metals: The platform offers trading in precious metals such as gold and silver. With their safe-haven properties, precious metals are favored by investors. Trading spot gold (XAU/USD) and spot silver (XAG/USD) allows investors to preserve assets and hedge against risks.
- Commodities: BACFX-R's trading products also include various commodities like energy products and agricultural products. Investors can trade energy products such as US oil (USOIL), profiting from price fluctuations. These markets are typically influenced by global economic and geopolitical factors, providing diverse investment opportunities.
- Indices: The platform offers trading services for major global stock market indices, such as the S&P 500 (US500), Germany's DAX (GER30), and Japan's Nikkei 225 (N225). By trading indices, investors can invest in the overall market or a specific industry's performance rather than single stocks, thereby diversifying risks.
- Stocks: BACFX-R allows investors to trade stock CFDs of globally renowned companies. This way, investors can profit from price fluctuations without actually owning the stocks. The stocks offered include leading companies from various industries, providing investors with a wide range of choices.
- Cryptocurrencies: The platform also offers trading services for major cryptocurrencies like Bitcoin (BTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD). The high volatility and growth potential of the cryptocurrency market attract many investors. Through these trading products, investors can participate in this emerging market's trading opportunities.
By offering these diversified trading products, BACFX-R provides investors with a wide range of investment choices, helping them adjust their portfolios flexibly according to market conditions and personal investment strategies to achieve their financial goals.
What are the Spreads, Leverages, and Commissions at BACFX-R?
BACFX-R offers two main account types: STD account and PRIME account, to cater to different traders' needs. The STD account is suited for beginners or small investors, with a minimum deposit of $100, an average spread of 1.3, zero commission, and a maximum leverage of 1:500. On the other hand, the PRIME account is better suited for advanced traders seeking low spreads and high leverage, requiring a minimum deposit of $1000, an average spread of just 0.1, a commission of $7 per lot, and a maximum leverage of 1:500.
What are the Deposit and Withdrawal Methods at BACFX-R?
BACFX-R offers a variety of convenient deposit and withdrawal methods to meet different investors' needs, including credit/debit cards (Visa and MasterCard), e-wallets (Skrill and NETELLER), as well as bank transfers and Union Pay. These payment methods ensure that investors can choose appropriate means for fund transactions based on their convenience and preference, enhancing the liquidity of funds while providing a secure and convenient trading experience. When choosing deposit and withdrawal methods, investors should consider the processing time and potential fees for each option to make the best decision.
Customer Support at BACFX-R:
Email: support@smartcontractlimited.com
Conclusion:
The lack of transparent registration and regulatory information of BACFX-R may raise concerns and doubts among potential investors. Before choosing to trade with BACFX-R, investors should carefully verify its background information to ensure the safety of their funds and the legality of their trading activities. By making wise decisions and conducting thorough investigations, investors can better manage risks and achieve their financial goals. BACFX-R is listed as "Suspected Fraud" on TraderKnows.
