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BeneForex

WikiFX | 2024-10-12 12:04

Abstract：BENEFOREX, part of Benefit Zone Global, is an unregulated broker based in Sydney, Australia. At present, it provides traders with Forex, Precious metals, Commodities, Indices and other trading instruments, four types of accounts, and supports traders to use the MT4 platform.

BENEFOREXReview Summary
Founded	Not mentioned
Registered Country/Region	Australia
Regulation	Suspicious clone
Market Instruments	Forex, Precious metals, Commodities, Indices
Demo Account	❌
Leverage	Up to 1:500
Spread	/
Trading Platform	MT4
Min Deposit	$100
Customer Support	Phone: +61292393210
	Email: support@beneforex.net
	Social Media: Wechat
	Physical Address: Level 10， 20 Martin Place， Sydney NSW 2000

BENEFOREX Information

BENEFOREX, part of Benefit Zone Global, is an unregulated broker based in Sydney, Australia. At present, it provides traders with Forex, Precious metals, Commodities, Indices and other trading instruments, four types of accounts, and supports traders to use the MT4 platform.

Pros and Cons

Pros	Cons
Support MT4	No regulation
Four kinds of accounts	Spread information is unclear

Is BENEFOREX Legit?

Regulatory Status	Suspicious clone
Regulated by	Australia
Licensed Institution	BENEFIT ZONE GLOBAL PTY LIMITED
Licensed Type	Appointed Representative(AR)
Licensed Number	001263542

What Can I Trade on BENEFOREX?

BENEFOREX provides trading tools across different types.

It mainly includes foreign exchange, and traders can trade foreign exchange pairs including but not limited to EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY, USD/CAD and USD/CHF.

There are also several major global indices traded, such as Australia 200, Germany 30, Hong Kong 50, Japan 225, NASDAQ 100, UK 100, US 2000, US 30 and SPX500.

In addition, traders can trade precious metals such as gold, silver, platinum and palladium, as well as commodities such as West Texas Oil and Brent Oil and gas.

Tradable Instruments	Supported
Forex	✔
Precious metals	✔
Commodities	✔
Indices	✔
Stocks	❌
Bonds	❌
ETF	❌

Account Types

BENEFOREX offers four types of accounts-Standard Account, VIP Account, Mini Account, and Pro Account.

Pro Account has the highest minimum deposit requirement of $10,000. The remaining three accounts are all $100. In addition, the lever is unified at 1:500.

Leverage

BENEFOREX offers high leverage for all account types, with leverage up to 1:500 on all accounts.

BENEFOREX Fees

Unfortunately, the only known information about spreads is that BENEFOREX offers variable spreads and this broker does not provide specific information.

Trading Platform

The trading platform provided by BENEFOREX is MetaTrader 4 (MT4), which traders can use as a desktop download, web trader or mobile device application.

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Web, Desktop, Mobile	Beginner
MT5	❌

Deposit and Withdrawal

Instant Payment Gateway, UPI Payment Gateway or online banking deposit funds, which are the payment method offered by this broker. In addition, the minimum deposit requirement is $100.

BENEFOREX says withdrawal requests between 5:30 a.m. and 6:00 p.m. will be processed on the same day, with the exception of active commodity positions/orders in the MCX segment, which will be credited to the account on the following trading day.

Deposit Options	Details	Transaction Limit	Fees	Processing Time
Instant Payment Gateway	Real-time fund transfer	Up to ₹25,00,000 per transaction	Free	Instant
UPI Payment Gateway	Unified Payments Interface	Up to ₹100,000	Free	Instant
Online Banking	NEFT, RTGS, and IMPS	Limit up to ₹25,00,000	-	May take over 2 hours

Customer Service

BENEFOREX does not support online chat services. Traders can receive BENEFOREX customer service by phone, email, social media, and physical address.

Contact Options	Details
Phone	+61292393210
Email	support@beneforex.net
Support Ticket System	❌
Online Chat	❌
Social Media	Wechat
Physical Address	Level 10， 20 Martin Place， Sydney NSW 2000