Quick Links

• Our Review Method

• Is BECFD Scam or Legit Broker?

• What is BECFD?

• Pros and Cons

• Conclusion

• BECFD

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding BECFD due to the issues we've identified.

Is BECFD Scam or Legit Broker? ▲

The credibility of BECFD has come under intense scrutiny, with substantial evidence suggesting that it operates as a scam broker. This establishment finds itself on the blacklist of a prominent regulatory authority, signaling a clear red flag for potential clients. Owned by BECFD Limited, an entity incorporated in the Marshall Islands, BECFD reflects the hallmark characteristics of an unreliable Forex broker. The regulatory environment in the Marshall Islands is infamously lax, lacking substantial oversight and regulation of Forex trading activities. This region has become a haven for questionable brokers, including names like MegaTradeFX and Finbitex, due to its minimal setup costs and regulatory demands.

What is BECFD? ▲

BECFD emerges as a Forex and CFD brokerage, under the ownership and management of BECFD Limited, with its registration grounded in the Marshall Islands—a region notorious for its minimal regulatory oversight. The broker's website provides scant details about its operations, aside from two contact numbers based in the UK and Austria. This indicates BECFD's attempts to extend its services into these jurisdictions without the necessary regulatory approval or oversight. Adding to concerns, the Financial Market Authority (FMA) in Austria has recently issued a public warning against this firm. This serves as a stark reminder of the risks associated with offshore brokers, where investor protection and fund security are virtually non-existent.

Pros and Cons ▲

Pros:

• Unfortunately, due to the significant risks and regulatory concerns associated with BECFD, no positive aspects can be highlighted.

Cons:

• BECFD is blacklisted by a reputable regulatory authority.

• It is owned by an offshore company registered in the Marshall Islands, known for its lack of stringent financial regulations.

• The broker has made attempts to market its services in the UK and Austria without regulatory approval.

• The Austrian Financial Market Authority (FMA) has issued a warning against BECFD.

• There is a notable absence of transparency and detailed information on the broker's website.

• The broker's operational status is uncertain, with its website currently inaccessible.

Conclusion ▲

In summation, it is strongly recommended to steer clear of BECFD and instead, opt for trading accounts with brokers that are under the regulation of esteemed global authorities. These entities adhere to stringent regulatory frameworks and have established a commendable reputation over their operational tenure. Traders are advised to consider reputable and well-regulated brokers, such as those in the UK or Australia. The risks associated with offshore-based brokers, exemplified by BECFD, are profound, including the lack of regulatory oversight and protection for traders' investments. Our exhaustive research, encompassing over 1000 brokers, underscores the importance of trading with entities that guarantee the security and regulation necessary for a trustworthy trading environment.