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BelforFX
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No thread for this yet so I will open one. BelforFX an ECN forex broker heaquartered in New Zealand and is regulated by FSPR. Compensation Scheme is under FSCL. They have offices in the UK, Germany, Switzerland and New Zealand. It offers a lot of different types accounts based on your needs. They have new 2 unique accounts: Systems Account (for copying trades through signals provided by trading systems) and Savings Account (for making periodic deposits to save money for specific financial goals, interest not yet known). Stocks Account will be launched soon too - they have a lot of plans :) lol.
Liquidity Providers: Barclays, Credit Suisse, UBS, Merrill Lynch, Morgan Stanley, HSBC, BNP Paribas
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One thing that is a big Negative point about them is that they are registered as a company and not as a broker.
They are not regulated by any reputable authority.
Originally posted by JogiOne thing that is a big Negative point about them is that they are registered as a company and not as a broker.
They are not regulated by any reputable authority.
Of course it is registered as a company as a Financial Service Provider.
I thought FCA regulated brokers are also registered as a company.
Negative? Well better registered than not.
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Originally posted by megrawab
Originally posted by Jogi
One thing that is a big Negative point about them is that they are registered as a company and not as a broker.
They are not regulated by any reputable authority.
Of course it is registered as a company as a Financial Service Provider.
I thought FCA regulated brokers are also registered as a company.
Negative? Well better registered than not.
Yes of course, registeration with FSA means a company but specific name given to that company is "Broker". Usually brokers are regulated with under specific act.
Originally posted by SashaYes of course, registeration with FSA means a company but specific name given to that company is "Broker". Usually brokers are regulated with under specific act.
Thanks for the clarification!
It's just a deeper classification after all..
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[quote]Originally posted by megrawab [quotetext]
Originally posted by SashaYes of course, registeration with FSA means a company but specific name given to that company is "Broker". Usually brokers are regulated with under specific act.
Yes, it is true - BelforFx is Regulated By : Financial Service Provider (New Zealand), FSCL
To know more read BelforFx Review here - http://www.comparetopforexbrokers.com/belforfx-forex-review
This company is probably closed now and it’s a lesson for others that we should never be joining any broker randomly, as that can only lead to major losses and it’s kind of stuff that we got to avoid at any cost.
It's nice to see FXStat forum again. without spams. Well their regualation requires to return funds once they declare brankruptcy. SpediaFX did this.
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