Note: BNDFIN is to operate via the website - https://bndfin.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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
BNDFIN is allegedly a forex broker registered in the Marshall Islands that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:200 and fixed/floating spreads on the Activ8, Sirix, WebTrader and Mobile FX App trading platforms via four different live account types, as well as 24/5 customer support service.
As for regulation, it has been verified that BNDFIN 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 1.37/10. Please be aware of the risk.
Market Instruments
BNDFIN advertises that it offers trading in Currency Pairs (Forex), Indices, Stock and Commodities.
Account Types
BNDFIN claims to offer four types of trading accounts, namely Mini, Bronze, Silver and Gold, as well as swap-free accounts. However, the minimum initial deposit requirement to open an account is not disclosed.
Leverage
The leverage provided by BNDFIN is adjusted based on account types. For instance, 1:100 for the Mini and Bronze accounts, and 1:200 for the Silver and Gold accounts. 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
BNDFIN claims to offer fixed or floating spreads depending on account types. Specifically, clients on the Mini account have fixed spreads, while the other three account types have floating spreads. Surprisingly, the EUR/USD spread is as high as 3 pips, while the average industry spread is just 1.5 pips.
Trading Platform Available
BNDFIN says to give traders four options for trading software - Activ8, Sirix, WebTrader and Mobile FX App. But factually, the only way to trade seems to be the Sirix desktop version.
Whatever, we suggest traders choose the industry-standard MetaTrader4 and MetaTrader5 trading platforms, which are highly praised by traders and brokers alike due to their ease of use and great functionality. The MT4 and MT5 offer top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
From the logos shown at the foot of the home page on BNDFINs official website, we found that this broker seems to accept payments via major credit cards such as VISA, MasterCard and Maestro, Neteller, Skrill Barclays, Wire Transfer, Safecharge and Global Payment. However, we cannot confirm if these payment methods are all acceptable due to the broken website link.
The minimum initial deposit amount is said to be $/€250.
Withdrawal requests are usually processed within 5-10 business days. While most regulated brokers will execute a withdrawal request within 24 hours and an international transfer does not take more than 5 business days.
Customer Support
BNDFINs customer support can be reached by telephone: +44 1213 14 3345, email: support@bndfin.com. Company address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro Marshall Islands, MH 96960.
Pros & Cons
Frequently Asked Questions (FAQs)
2023-03-23 18:19
