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No Regulation
Score
1.53 /10
Danger
BFC Forex
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index7.12
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
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
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Warning: Low score, please stay away!
2
Previous Detection :
2024-09-22
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
BFC Forex Information
BFC Forex and Financial Services Pvt Ltd (BFC Forex) was established in 2005 and is part of BFC Group Holdings W.L.L (BFC Group). This firm provides various services such as currency exchange, travel cards, and outward remittances. However, there is limited information about the transaction fees.
Pros and Cons
| Pros | Cons |
| Offer services for both individuals and corporations | No valid regulatory certificates |
| Multi-currency travel card available | Limited information about transaction fee |
| Access over 45 BFC Forex branches and 14,000 sub-agent locations in India |
Is BFC Forex Legit?
BFC Forex operates without regulation from any recognized financial authority. Engaging with an unregulated broker like BFC Forex carries substantial risks, and investors should be aware of the potential consequences before depositing funds.
Products and Services
BFC Forex offers currency exchange services for over 30 currencies for individuals and corporations with competitive rates that are updated every 10 minutes. They also provide a multi-currency travel card for convenient transactions during international travel.
Additionally, BFC Forex facilitates outward remittances, allowing customers to send money internationally at low rates, along with money transfer services for receiving funds from abroad.
Customer Support Options
For any questions you might have, help is available by phone (+91 82876 10555), or email (contactus@bfcforex.com). You can also hit a button on an online message box.
| Contact Options | Details |
| Phone | +91 82876 10555 |
| contactus@bfcforex.com | |
| Support Ticket System | ❌ |
| Online Chat | ❌ |
| Social Media | ❌ |
| Supported Language | English |
| Website Language | English |
| Physical Address | C&B Square, Sangam Complex,Unit No 302, 3rd Floor,127 Andheri Kurla Road,Andheri (East), Mumbai – 400059,India. |
The Bottom Line
BFC Forex presents various financial services for individuals and businesses. You can have access to over 45 BFC Forex branches and 14,000 sub-agent locations in India to receive money from worldwide. However, you need to keep a close look at transaction fees. Because this company doesn't give any information about it on its website.
FAQs
How can I pay for BFC Forex services?
Up to Rs 49,999 can be paid in cash, and any amount over Rs 49,999/- has to be paid using a travellers or corporate bank account only.
What is a transaction fee?
The transaction fee is the commission BFC Forex charges for offering you currency exchange services. This is based on the amount you send. You can contact their customer service for more details on the transaction fee.
How can I locate the nearest branch?
BFC Forex has over 35 branches to choose from. To find a branch near you, you can use their branch locator tool.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for everyone.
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