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Overview

Bforex has been operating in the field of brokerage services for several years. It was awarded several times with prestigious prizes at international exhibitions for the quality of services. "The Best Forex Broker of Australia," "The Best Forex Broker in Latin America", "The Best Trading Platform", this is an incomplete list of Bforex awards.

The Head Office of the broker is located in London, and the site is available in many languages, whose list includes Russian.

Broker has prepared a large number of learning materials for beginners. Regular free webinars about the currency market are conducted regularly. Customers can enroll in them or later watch their recordings.

Bonuses

Currently Bforex holds the promotion Refer a Friend. Any trader can take part in it and win good Forex bonuses.

Refer a Friend runs on a constant basis, allowing traders of the Bforex to receive free Forex bonuses for attraction of new customers. According to the conditions of the promotion, the trader who has invited a new customer from his friends or acquaintances gets a Forex bonus, as soon as he contacts the staff of the broker. If someone from the traders invites a friend, he should contact the broker, pointing out his and invited client's personal data. Broker accrues a Forex bonus, which depends on the first deposit of the new customer, after verification of the transmitted data.

Accrual of Forex bonuses:

- the first deposit of $200 - Forex bonus is $200

- the first deposit of $1,000 - Forex bonus is $1,000

- the first deposit of $1,000 and higher - Forex bonus is $5,000.

Traders of the Bforex can invite an unlimited number of new customers, and the broker guarantees payments for Forex bonuses for each of them.

Novice traders can take advantage of an advertising offer FTD5 from the broker. According to this offer of the Bforex, every new customer who opens a trading account and funds it in the amount not less than $200, will receive the protection on five transactions on the foreign exchange market. Funds will be protected by the broker if a novice trader starts trading with a leverage of not more than 1:20. If within three days novice traders lose money on the first five transactions, the broker will compensate all its losses. In case of making any profit on these transactions, the profit becomes the trader's property and remains on his account.

Training

Novice traders are free to study educational materials, published on the official website of the Bforex. They are also able to sign up for free webinars, which are held regularly.

Learning materials about the foreign exchange market

1. Familiarization with trading on Forex:

- how to trade currency pairs

- margin on the Forex market

- Forex quotes

- what is a rollover

- how to use a leverage

2. Fundamental indicators:

- supply and demand dynamics

- currency pairs

- interest rates of the central banks.

3. General concepts of the foreign exchange market:

- leverage

- lots

- points

- margin using while trading currency pairs.

4. Types of trading orders:

- take profit

- stop loss

- limit orders for buying and selling

- limit orders for buying and selling.

5. Types of trading charts:

- candlestick charts

- line charts

- bar charts

- time frames

- choice of time frames and trading in them.

6. Moving averages, support and resistance levels:

- types of moving averages and their use for currency pairs trading

- brief information about trading Forex strategies using moving averages

- support and resistance levels, and how they are formed.

7. Trends and trendlines:

- trendlines

- linear breakouts

- additional testing of trendline false breakouts.

8. Technical Forex indicators:

- linear regression

- momentum

- Moving Average Convergence/Divergence (MACD)

- Average Directional Index (ADX).

9. Technical Forex indicators-oscillators:

- alligator

- fractals

- Commodity Channel Index (CCI)

- Relative Strength Index (RSI)

- stochastics.

10. Forex glossary.

In addition to print materials about the Forex market, novice traders can enroll in webinars:

- how to use the trading platform Meta Trader 4

- how to use the trading platform Web Meta Trader 4

- trend trading

- chart analysis and so on.

Recordings of webinars can be watched, finding them in the archives of the broker's site.

Terms of trading

Bforex offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- the minimum deposit is $200

- the leverage is up to 1:200

- 40 currency pairs, securities, gold, silver, indices

- spread is fixed from 2 points (the floating one is 0.4 points)

- low margin of 0.5%

- no slippages

- no requotes

- no commission.

MetaTrader 4

- multi-language support

- order execution - Instant Execution

- one click trading

- embedded database of Forex indicators

- addition of new technical indicators

- creation and installation of Forex expert advisors with the help of the MetaQuotes Language 4

- quotes export via DDE

- chart printing.

PROfit

- English-speaking support

- progressive trading charts

- no requotes

- no slippages

- news feed

- drag and drop features

- possibility to trade, using Trade Your Way.

Web- PROfit

- English-speaking support

- trading through the browser without downloading a client program

- one click trading

- leading tools for trading charts.

Bforex offers its customers to open an account in accordance with their wishes. It is necessary to send a request to employees of the broker, who will explain in detail about the opening of the account and work with it, based on the initial sum, credited by the trader.

Forex indicators (recommended)

- Range Expansion Index

- Super Signals Channel

- Schaff Trend Cycle

- Steinitz Fractal Breakout

- Fisher.

Forex expert advisors (recommended)

- PipLaser 1.02 (an automated Forex expert advisor that effectively uses technical indicators Moving Averag and Fractals for analysis of the currency market; it has the minimum number of settings that makes it available even for novice traders)

- Goodwine (an automated Forex expert advisor that performs analysis of the foreign exchange market with the help of the technical indicator WATR and it has distinguished itself at short-term distances on any currency pair)

- Binario (an automated Forex expert advisor that trades any currency pair and in absolutely any time frame using moving averages).

Investments

Currently customers of the Bforex don't have an opportunity to invest finances in PAMM- accounts of professional managers who work for the interest. In the case of personal agreements of customers with traders concerning investment of funds and their loss, the broker does not have obligations to investors who have decided to invest to the foreign accounts.

Unique features

Bforex offers all new customers the opportunity to get a free personal Forex specialist. The trader needs to register, fund his trading account and send an application form to the staff of the Bforex in order to get a personal Forex specialist.

Forex specialist is an employee of the company, who will be assigned directly to the customer. He will help to answer all questions that may arise while learning of how to trade on the currency market, how to deposit and withdraw funds and how to use the trading platform. Besides, the Forex specialist helps to develop the customer's own trading strategy. He also reviews regularly the history of customer's transactions to tell how it is better to behave in one or another situation on the currency market.

Forex specialist is available for communication and consultations on trading currency pairs 24 hours a day, 7 days a week.

Traders can also become members of its affiliate program and start earning money on the foreign exchange market by attracting new customers without any risk.

Broker offers two directions of the affiliate program:

- Introducing Broker (attraction of clients in any legal way)

- White Label (creation of independent business in the field of brokerage services).

It is necessary to send an application form to the staff of the broker in order to become a partner of the bforex. Then the employees of the broker will contact traders for consideration of their future work.

Add/withdraw funds

Bforex offers its traders the following methods to deposit and withdraw funds: Paysafecard, Moneta.ru, Yandex Money, QIWI, Web Money, SOFORT, MasterCard, Visa and bank transfers.

Contacts

Bforex provides its traders with the comprehensive support by live chat, by e-mail [email protected] and by international phone +44 203 514 0458.

Cons and pros

+ the world famous broker

+ no minimum deposit

+ small spread

+ good leverage

+ free training of trading on the currency market

- no Forex deposit bonus

- no contests for traders.

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