Score

1.50 /10
Danger

Bright Finance

Marshall Islands

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index6.90

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Broker Information

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Company Name

CAPITAL LETTER GMBH

Company Abbreviation

Bright Finance

Platform registered country and region

Marshall Islands

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2025-01-09
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Bright Finance · Company summary

Note: Bright Finance's official website: https://www.brightfinance.co is currently inaccessible normally.

Bright FinanceReview Summary
Founded/
Registered Country/RegionMarshall Islands
RegulationUnregulated
Market InstrumentsForex pairs, stocks and cryptos
Demo Account/
Leverage/
EUR/USD SpreadAround 1 pip
Trading PlatformWeb-based
Min Deposit$250
Customer SupportEmail: support@brightfinance.co
Address: Leeds Innovation Center, 103 Clarenton Road, LS2 9DF, Leeds, UK

General Information and Regulation

Bright Finance is a Forex brokerage registered in the Marshall Islands under the name Capital Letter LTD. Furthermore, there is a second company which figures as an owner, registered in Germany under the name Capital Letter GmbH. Nonetheless, its safe to assume that BrightFinance, irrespective of its legitimacy, does not fall under any regulatory oversight whatsoever.

Bright Finance

Pros and Cons

ProsCons
Various trading optionsNot regulated
Inaccessible website
No MT4/5 supported
High minimum deposit
Unclear trading fees

What Can I Trade on Bright Finance?

Tradable Instruments Supported
Forex pairs
Stocks
Cryptos
Commodities
Indices
Bonds
Options
ETFs

Account

Bright Finance offers five account types: Explorer, Basic, Sliver, Gold and Platinum.

Opening the most basic account - Explorer account, requires the minimum deposit amount of $250, which is much higher than most other brokers, who requires only $100, or even no threshold.

Account typeMin.deposit
Explorer$250
Basic$2 000
Sliver$10 000
Gold$25 000
Platinum$100 000

Spread

BrightFinance says the EUR/USD spread is around 1 pip, which seems attractive. However, since BrightFinance is unregulated, it is unsafe to invest with this broker no matter what its trading conditions is.

Trading Platform

Bright Finance offers a web-based trading platform with charts taken directly from Trading View – an independent, charting web service with historical and real- time market data.

Trading PlatformSupported Available Devices Suitable for
Web-basedWeb/
MT4/Beginners
MT5/Experienced traders
Webtrader

Deposit and Withdrawal

Bright Finance accepts bank wire transfers and two e-wallets – VLoad and PraxisCashier as payment methods.

User Reviews

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User comment

3

Comments

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Lsy、
more than one year
Stay away from this broker by all means!! Do not fall into their low commissions or low spreads!! All of a sudden my trades started to incur slippage of about 1 pip when I open positions and 1 pip when I close positions and it occurs for every trade even when volatility is low. The most frustrating thing is, that my friend who also has an account with them doesn't have any slippage at all. So my only conclusion is that they mark some accounts so that those start incurring slippage.
Stay away from this broker by all means!! Do not fall into their low commissions or low spreads!! All of a sudden my trades started to incur slippage of about 1 pip when I open positions and 1 pip when I close positions and it occurs for every trade even when volatility is low. The most frustrating thing is, that my friend who also has an account with them doesn't have any slippage at all. So my only conclusion is that they mark some accounts so that those start incurring slippage.
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2023-02-17 17:42
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Yuri Chen
more than one year
Bright Finance provides no support at all when you want to withdraw money. I tried to make a withdrawal just to see how it works. The request was accepted but never processed further to the Pending or Approved stage.
Bright Finance provides no support at all when you want to withdraw money. I tried to make a withdrawal just to see how it works. The request was accepted but never processed further to the Pending or Approved stage.
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2022-12-14 14:25
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