BelforFX Review

BelforFX are a smaller company when compared to some of our other recommended brokers. Belfor Capital Limited, a financial services company based in New Zealand who currently own offices in London and New Zealand, founded BelforFX in 2012. What makes this broker a real contender in this competitive marketplace is that it accepts traders from all territories, including the USA. US Traders can make deposits via Credit Card, Neteller and Skrill.

BelforFX have focused on a simple plan since its launch. They wanted to be successful the old fashioned way, by providing an excellent user experience. They intended to do this by providing their trading audience with technologically advanced platforms, fantastic customer service and a wide range of educational articles and strategies.

Regulatory Information

Traders from all countries are accepted at this truly global broker. This includes US based Forex traders, as BelforFX have no US customer restrictions in place. This does not compromise their regulatory status. If you decide to trade at BelforFX, you will be trading at a legal and licensed Forex Broker.

BelforFX state that the laws and regulations of the UK, New Zealand, British Anguilla and the Seychelles legally constitute their operations. The relevant part of this for online traders is that BelforFX is recognised as a full financial services provider in New Zealand. This status has provided them with the regulatory material necessary to operate as a prime global Forex solution to both retail and institutional clients. You may research this further by looking in the Financial Services Providers Register (FSPR) for record number FSP3932698.

Trading Platform and Features

BelforFX offers their traders both demo and real money accounts. Each of these provides trading with Foreign Exchange, CFD’s and Precious Metals. There is no web client offered at present, however they do offer three fantastic downloadable platforms. These are MetaTrader4, and the proprietary BelforFX Tablet and mobile platforms. Interestingly, they also offer a Social Trading experience through Managed accounts. Please see below for a brief overview of each of these.

• MetaTrader 4 (MT4) – The award winning MT4 platform is the industry standard for Forex trading, and is how BelforFX provide access the markets. If you are unfamiliar with MT4, let us begin by saying that this is one of the most dependable, flexible and widely accepted platforms in online financial trading. It is used by professionals and provides numerous features including a number of technical analysis tools and financial instruments. MT4 provides more experienced traders with access to their proprietary MetaQuotes 4 programming language, which allows traders to develop their own indicators and EAs (Expert Advisors). MT4 has numerous other features including the strategy tester, multi-window configuration and a multi-language interface. Complete user guides are available directly from BelforFX and please don’t hesitate to ask their support team for help or guidance at anytime. Please note that MT4 is a windows application. Mac users will have to use the readily available and free-to-use, WineBottler application, which allows user to run Windows applications on OSX.
• Social Trading – This is a TradersAsset exclusive! BelforFX don’t yet publicise that they offer social trading, yet they re-launched their broker website with a more user-friendly interface in June 2014. They also added SocialFX, a powerful managed accounts plugin at the same time. This feature allows traders to choose from a selection of expert traders, who will then trade on your behalf. There are a number of traders to choose from and numerous stats to use when comparing them. This is normally exclusive to their Gold, Platinum and VIP account holders, but if you would like to explore this feature regardless of account type, simply speak to the BelforFX support team and tell them you’re a TradersAsset trader. You’ll then be granted full access to this new social trading feature.
• Mobile and Tablet Platforms – BelforFX understand how powerful mobile devices are for traders on the go. They offer app in both the Apple App Store and Google Play, therefore both IOS and Android devices are catered for. We’ve tested the apps and can confirm that they are easy to operate and navigate. The intuitive interface includes live market data on Forex, Commodities, CFD’s, Stocks, Indices, and allow you to browse interactive real-time and historical charts for better market analysis. The app allows traders to browse their closed positions and displays your account balance and details. It is a good solution for traders to observe their trading progress on the go.

Support and Services

BelforFX is a simple broker. They don’t try to overcomplicate matters and are simply dedicated to providing an excellent user experience to encourage loyalty in their customers. A large part of providing a fantastic user experience is having a highly capable support team, and they did not let us down here.

The BelforFX support team is available via email, an online support/query form, phone and Livechat. They are available 24hrs a day, 7 days a week, and are highly responsive at all times. The team are also very personable and one that we consider as the very best. A recent chat with BelforFX has even revealed that they are in the process of increasing the size of their support team. This will no doubt lead to an even better user experience and we support this wholeheartedly.

Banking Options

As a highly regulated broker, BelforFX are able to offer multiple deposit methods, most notably, the Neteller & Skrill e-wallets. Their minimum deposit amount is $100 and they offer leverages between 100:1 and 400:1, depending on account type. Other online deposit methods include EgoPay and the prepaid cards by PaySafeCard. BelforFX also accept all popular Credit and Debit cards, including Visa, Mastercard, American Express and Diners Club. As with all regulated brokers, they also allow you to Wire Transfer funds into your trading account. You are not going to be restricted when it comes to the banking options when funding your BelforFX trading account. Simply contact support if you wish to check a deposit method not mentioned here. It’s worth mentioning that credit card, Neteller & Skrill are the recommended deposit method for US traders.

Please be aware that BelforFX will request you to send in some identification documents to get your trading account fully verified, however this will only need doing once. Having your account fully verified will enable you to benefit from much quicker withdrawals. Payouts are never held for long processing periods at BelforFX. You may request a withdrawal at anytime. Your request will be processed within a maximum of 48 hours and credited to the deposit method used originally.

Why Trade at BelforFX

Traders of all levels should truly consider BelforFX as a preferred broker. You are able to fund your trading account with as little as $100 by using multiple deposit methods and allow you to trade within seconds. The MT4 trading platform is robust and reliable, and BelforFX offer a range of handy tools such as up-to-the-minute financial market news stories and an economic calendar. These features make this reliable and straightforward broker hugely attractive to traders looking for a no-nonsense and straightforward solution and get them the status of being an “Approved TradersAsset Broker”.

We recommend that you open a demo account at BelforFX and explore this broker and their features for yourself. By doing so, you will be able to make your own informed decision on whether they are a suitable broker for you. If you are looking to open a real money trading account, please note that BelforFX do not offer a signup bonus at the time of writing this review. They have offered signup incentives in the past and if these are important to you, please contact their support team for an update on current offers and promotions.