Beneffx

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Beneffx.com, a trading name of Optium LTD, is allegedly a forex and CFD broker registered in the Marshall Islands that claims to provide its clients with 1,000 assets with flexible leverage up to 1:400 and floating spreads on the Be-Web Platform and Be-Mobile trading platforms via 5 different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that Beneffx.com currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.23/10. Please be aware of the risk.

Trading Products

Beneffx.com advertises that it offers access to 1,000+ assets, which include CFD trading on Currency Pairs, Stocks, Commodities, Indices, and Cryptocurrencies.

Account Types

Beneffx.com claims to offer 5 types of trading accounts - Classic, Silver, Gold, VIP and Black, with minimum requirements of $/€250, $/€2,500, $/€25,000, $/€10,0000 and $/€20,0000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. The broker also offers Islamic accounts.

Leverage

The leverage provided by Beneffx.com is adjusted based on the account type. For example, 1:100 for the Classic account, 1:200 for the Silver account, 1:300 for the Gold account, 1:400 for the VIP account and tailored leverage for the Black account. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

The trading costs revealed by the Webtrader at Beneffx.com are 3 pips spread for EUR/USD, while the industry average is just 1.5 pips.

Trading Platform Available

Instead of the world's most advanced and popularly-used MT4 and MT5 platforms. Beneffx.com claims to give traders Be-Web Platform and Be-Mobile. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

The minimum deposit with Beneffx.com is $250 allegedly via Credit/Debit cards, Wire Transfers, Skrill, Neteller and other e-wallets. As for withdrawals, the minimum amount is $50 for Credit/Debit cards and $100 for Wire Transfers. Additionally, each transaction costs 3.5% of the sum (the minimum is $30), while the Black accounts are not required to pay withdrawal fees.

Fees

Apart from the withdrawal fee charged, the FAQ section of Beneffx.com states that the inactivity fee is $10 per month, while according to the Terms, it should be 50 units.

Customer Support

Beneffx.coms customer support can be reached by telephone: +448438091171 (United Kingdom), +442037576558, email: info@beneffx.com, support@beneffx.com or send messages online to get in touch. Registered address: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.

Pros & Cons

Frequently Asked Questions (FAQs)