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Regulated
Score
5.67 /10
Average
Belfrics
5-10 yearsRegulated in Malaysia
Straight Through Processing(STP)
Influence
C
Add brokers
Comparison
Quantity 1
Exposure
Open Account
Website
Score
Regulatory Index3.92
Business Index6.97
Risk Management Index9.60
Software Index8.44
License Index3.92
Open Account
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
Check whenever you want
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WikiFX Verification
Exposure
1 pieces of exposure in total Pyramid scheme complaint
Expose| Belfrics Review Summary | |
| Founded | 2015 |
| Registered Country/Region | Malaysia |
| Regulation | Labuan Financial Services Authority (LFSA), Malaysia, License Type: Straight Through Processing (STP) |
| Market Instruments | Cryptocurrencies (25 different coins available) |
| Demo Account | ❌ |
| Leverage | Not mentioned |
| Spread | Not mentioned |
| Trading Platform | Belfrics App (iOS, Android) |
| Min Deposit | Not mentioned |
| Customer Support | Phone: +60-8744-3733 |
| Email: info@belfrics.com, support@belfrics.com | |
Belfrics Information
Based in Malaysia and governed under Labuan Financial Services Authority (LFSA), Belfrics is a bitcoin exchange. Accessible via a mobile app for both iOS and Android users, it provides crypto trading using a choice of 25 cryptocurrencies.
Pros and Cons
| Pros | Cons |
| Regulated by LFSA in Malaysia | No demo account available |
| Supports mobile trading on multiple devices | Limited to cryptocurrency trading |
| Clear fee structure for deposits and withdrawals |
Is Belfrics Legit?
Yes, Belfrics is regulated. The Labuan Financial Services Authority (Labuan FSA) in Malaysia regulates it. Belfrics International Limited has a Labuan FSA Straight Through Processing (STP) licence to provide transparent, regulated financial services. However, the licence number is “Unreleased.”
What Can I Trade on Belfrics?
Belfrics focuses in trading cryptocurrencies. It gives consumers access to trade 25 cryptocurrencies and lets them purchase and sell cryptocurrencies immediately using USD.
| Tradable Instruments | Supported |
| Forex | ❌ |
| Commodities | ❌ |
| Crypto | ✔ |
| CFD | ❌ |
| Indexes | ❌ |
| Stock | ❌ |
| ETF | ❌ |
Belfrics Fees
Belfrics' crypto-to-crypto taker fee of 1.00% is higher than industry average. Standard withdrawal fees for major cryptocurrencies differ by token on the platform.
Spread & Transaction Fees
Crypto-to-Crypto Trading Fees:
Maker Fee: 0.50%
Taker Fee: 1.00%
Crypto-to-Fiat Trading Fees: Not mentioned, indicating it might not be available or applicable currently on Belfrics.
Non-Trading Fees
| Non-trading Fees | |
| Deposit Fee (Fiat) | Free (bank charges may apply) |
| Deposit Fee (Crypto) | Free |
| Withdrawal Fee (Fiat) | Free (bank TT charges apply) |
| Withdrawal Fee (Crypto) | Varies by cryptocurrency, as detailed below |
| Inactivity Fee | Not mentioned |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Belfrics App | ✔ | iOS (App Store), Android (Play Store) | Traders focused on mobile cryptocurrency trading |
Deposit and Withdrawal
For deposits—in cash or bitcoin—Belfrics does not levy fees. For fiat deposits, consumers could be charged banks fees, nevertheless.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Fiat Currency | Not mentioned | None (bank charges may apply) | Monday to Friday, twice daily (11:00 AM and 3:00 PM) |
| Cryptocurrency | Not mentioned | None | Upon blockchain confirmation |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Fees | Processing Time |
| Fiat Currency | Not mentioned | None (bank TT charges apply) | Monday to Friday, once daily at 11:30 AM |
| Cryptocurrency | Varies by token | Varies by token (e.g., 0.0008 BTC for BTC) | Four times daily (1 AM, 11 AM, 4 PM, and 8 PM GMT) upon blockchain confirmation |
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