BMFN-Some Important Details about This Broker

WikiFX | 2025-07-30 14:46

Abstract：Founded in 1988, BMFN is an unregulated broker registered in Australia, offering various trading instruments including forex, indices, equities, ETFs, and commodities, with leverage up to 1:400. The minimum deposit is $50.

BMFN Review Summary
Founded	1988
Registered Country/Region	Australia
Regulation	FCA (Revoked), FSPR/ASIC (Unverified)
Market Instruments	Forex, Indices, Equities, ETFs, Commodities
Demo Account	✅
Leverage	Up to 1:400
Spread	1.4 pips on most majors
Trading Platform	/
Minimum Deposit	$50
Customer Support	Contact Form
	Email: Support@bmfn.com
	Headquarters Address: Pango Road, Waves at Surfside-Villa 9, Port Vila, Vanuatu

BMFN Information

Founded in 1988, BMFN is an unregulated broker registered in Australia, offering various trading instruments including forex, indices, equities, ETFs, and commodities, with leverage up to 1:400. The minimum deposit is $50.

Pros and Cons

Pros	Cons
Long history	No valid regulation
Segregated accounts	No MT4/MT5
Various trading instruments
Demo accounts available
Low minimum deposit
Popular payment methods
No deposit/withdrawal fees

Is BMFN Legit?

BMFN claims to offer segregated client trust accounts with AA Rated banks. However, it currently has no valid regulations. It only holds a revoked FCA license and unverified FSPR and ASIC licenses. Please be aware of the risk!

Regulated Country	Regulated by	Licensed Entity	Licensed Type	Licensed Number	Regulatory Status
UK	Financial Conduct Authority (FCA)	EMIRATES WEALTH EAD	European Authorized Representative (EEA)	550785	Revoked
New Zealand	Financial Service Providers Register (FSPR)	AUSTRALIAN MUTUAL FUNDS EXCHANGE PTY LTD	Financial Service Corporate	328066	Unverified
Australia	Australia Securities & Investments Commission (ASIC)	OKX AUSTRALIA FINANCIAL PTY LTD	Investment Advisory License	379035	Unverified

What Can I Trade on BMFN?

Tradable Instruments	Supported
Forex	✔
Indices	✔
Equities	✔
ETFs	✔
Commodities	✔
Cryptocurrencies	❌
Bonds	❌
Options	❌

Account Type

BMFN offers demo accounts and live accounts. You can open up to 3 trading accounts with BMFN.

Leverage

BMFN offers a leverage ratio up to 1:400 (default leverage is 1:200). Please note that high leverage can amplify not only profits but also losses.

Asset Class	Maximum Leverage
Forex	1:200
Indices	1:33
Equities	1:10
ETFs	1:10
Commodities	1:33

Spread and Commission

BMFN charges no commissions, instead, the spread is all you pay. As it claims on their homepage, spread on most majors is 1.4 pips.

Deposit and Withdrawal

BMFN accepts payments via Bank Wire, Credit cards, Skrill, China Union and more.

The minimum deposit requirement is $50, but there are no minimum withdrawal requirements.

BMFN does not charge any fees for deposits and withdrawals. The only fees that are charged are the bank fees (third party fees) which depend on every bank policy. Bank wire commission is $50 per transaction.

Withdrawal/Deposit are processed within the first 24 hours after receiving the request. It takes between 3 to 5 working days for a Bank Wire to be received in general.

Note that funds deposited via Credit Card are not available for withdrawal for a period of thirty (30) calendar days.