BelleoFX is a forex broker that was registered in Mauritius on March 22, 2022. The company primarily offers financial trading services including forex, commodities, stocks, and indices. It is headquartered in Dubai and has branches in Mauritius, Saint Vincent and the Grenadines. The official website for this broker is https://belleofx.com, and it primarily provides services in English. BelleoFX does not work with clients from countries on the OFAC sanctions list and FATF blacklist.
Company Background and Regulatory Status:
The registered entity for BelleoFX in Mauritius is Belleo Markets, with a registered address at 20, Edith Cavell Street, Level 6, Ken Lee Building, Port Louis, Mauritius. The company registration number is C186405. The board members of this entity include DIRECTOR: KANOWAH ASLAM, NEISIUS LIINAA KAREENA, SINGH AMAN, and the MANAGEMENT COMPANY and SECRETARY are both served by Intrasia Management (Mauritius) Limited. Belleo Markets is authorized and regulated by the Financial Services Commission (FSC) of Mauritius. The authorization date is March 22, 2022, and the license number is GB21027167.
In Saint Vincent and the Grenadines, the registered entity for BelleoFX is Belleo Markets LLC, with a registration date of September 26, 2022. The company's registered address is Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. However, it's important to note that the Financial Services Authority (FSA) of Saint Vincent and the Grenadines only regulates banking, insurance, or mutual fund activities and does not oversee forex margin trading activities or issue forex licenses. Therefore, this entity does not have effective regulation.
The branch office of Belleo Markets in the UAE is registered as BELLEO MARKETS - REP. OFFICE on June 21, 2022, with a registered address at Bur Dubai Trade Centre 1 and a company registration number of 1074850. This entity does not have regulation for forex trading and brokerage activities.
Account Types:
BelleoFX offers six different types of trading accounts: Standard Account, Swap-Free Account, Zero Spread Account, PRO Account, Promo Account, and PAMM Account. All six account types provide floating spreads and expert advisors, with a minimum trade size of 0.01 lots, a margin call level set at 50%, and a stop-out level set at 30%.
The differences between the account types are as follows:
- Standard Account: Minimum deposit of $50, spreads starting from 1.2 pips, no trading commissions, supports swaps, maximum leverage for currencies is 1:500 (ZARJPY 1:100), metals 1:200, energy 1:100, indices 1:50.
- Swap-Free Account: Minimum deposit of $1,000, spreads starting from 1.5 pips, no trading commissions, does not support swaps, maximum leverage for currencies is 1:500 (ZARJPY 1:100), metals 1:200, energy 1:100, indices 1:50.
- Zero Spread Account: Minimum deposit of $1,000, spreads starting from 0 pips, $5 trading commission per lot, supports swaps, maximum leverage for currencies is 1:500 (ZARJPY 1:100), metals 1:200, energy 1:100, indices 1:50.
- PRO Account: Minimum deposit of $10,000, spreads starting from 0 pips, $5 trading commission per lot, supports swaps, maximum leverage for currencies is 1:200 (ZARJPY 1:100), metals 1:100, energy 1:100, indices 1:50.
- Promo Account: Minimum deposit of $500, spreads starting from 1.8 pips, no trading commissions, supports swaps, maximum leverage for currencies is 1:200 (ZARJPY 1:100), metals 1:100, energy 1:100, indices 1:50.
- PAMM Account: Minimum deposit of $2,000, spreads starting from 1 pip, no trading commissions, supports swaps, maximum leverage for currencies is 1:200 (ZARJPY 1:100), metals 1:100, energy 1:100, indices 1:50.
Trading Platforms:
BelleoFX offers the MT5 trading platform, available on various platforms including PC, Mac, iPhone, and Android. The company providing servers for MT5 users is Belleo Markets (Pvt. Ltd.), but it's unclear whether this entity is a regulated one registered in Mauritius or an unregulated entity in the other regions.
Deposits and Withdrawals:
BelleoFX supports deposits and withdrawals through credit cards, bank wire transfers, or blockchain.
Customer Support:
Users can contact BelleoFX via phone at +971 4 541 7900 or through email at support@belleofx.com. Additionally, investors can use the "Contact Us" feature on the broker's website for online chat support.
Summary:
Traderknows advises investors that while BelleoFX has legal regulation in Mauritius, the regulatory authority in Mauritius itself has relatively weak oversight. It's also unclear whether the company providing servers for MT5 users is a regulated entity registered in Mauritius or an unregulated one in other regions. As of now, this broker is marked as "Operating Normally" on Traderknows.
