Abstract:Founded in 2023, BESTONFX is an unregulated financial company registered in Thailand, offering trading in Forex, Commodities, Indexes, and Cryptos. It provides demo accounts for practice and MT4 platform for trading. BESTONFX claims to offer low spreads but provides limited info on trading conditions like min deposit, leverage, and commissions.
BESTONFX Review Summary | |
Founded | 2023 |
Registered Country/Region | Thailand |
Regulation | FinCEN, FSCA |
Market Instruments | Forex, Commodities, Indexes, and Cryptos |
Demo Account | ✅ |
Leverage | 1:500 |
Spread | / |
Trading Platform | MT4 |
Min Deposit | / |
Customer Support | Live chat |
Email: support@bestonfx.com | |
Facebook, Instagram | |
Address: 111 Building A503 Praditmanutham Road, Lat Phrao, Bangkok 10230 |
Founded in 2023, BESTONFX is a regulated financial company registered in Thailand, offering trading in Forex, Commodities, Indexes, and Cryptos. It provides demo accounts for practice and MT4 platform for trading. BESTONFX claims to offer low spreads but provides limited info on trading conditions like min deposit, leverage, and commissions.
Pros | Cons |
A wide range of products | Short operation time |
Demo account available | Limited info on trading conditions |
MT4 platform | Single account type |
Popular payment options | |
Live chat support |
BESTONFX is regulated in both the United States by FinCEN and in South Africa by FSCA, with the appropriate licenses issued for providing financial services.
Regulatory Agency | Country | Current Status | License Type | License Number |
---|---|---|---|---|
Financial Crimes Enforcement Network (FinCEN) | United States | Regulated | Financial Service | 31000237824049 |
Financial Sector Conduct Authority (FSCA) | South Africa | Exceeded | Financial Service Corporate | 53022 |
What Can I Trade on BESTONFX?
Tradable Instruments | Supported |
Forex | ✔ |
Commodities | ✔ |
Indexes | ✔ |
Cryptocurrencies | ✔ |
Stocks | ❌ |
Bonds | ❌ |
Options | ❌ |
ETFs | ❌ |
BESTONFX only provides a single standard account for live trading and a demo account for practising. The company claims to offer low spreads, however, there is limited information about trading conditions.
BESTONFX offers leverage up to 1:500. 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.
Trading Platform | Supported | Available Devices | Suitable for |
MT4 | ✔ | Windows, iOS, MAC, Android | Beginners |
MT5 | ❌ | / | Experienced traders |
BESTONFX supports payments through Visa, Skrill, Neteller, PromptPay, and MasterCard.
Traders neglect the basic education about the forex market and end up losing money. It is one of the common mistakes they do. It is unsaid rule that If you're enter in the jungle of forex, you must read, learn, and understand before you start trading. In this article, you'll get to know about the books on forex trading that you must read.
Fallen prey to high-return promises made by Inefex through social media and other platforms? Facing constant pressure from it to deposit funds despite consistent losses in trade? Most probably, Inefex has scammed you like many others. The constant foul play in its operation has been grabbing attention on forex broker review platforms. Check out some of their reviews.
Currency pairs play a crucial role in forex trading. To effectively participate in the forex market, it's important to understand which currency pairs are most relevant in your country. For traders in India, knowing the actively traded currency pairs is essential.
When selecting a broker, understanding its regulatory standing is an important part of assessing overall reliability. For traders seeking to protect their capital, ensuring that a platform operates under recognised and stringent oversight can make all the difference. Keep reading to learn more about Fortrade and its licenses.