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If you are looking for a Forex and CFD trading platform then you might have considered BECFD, offering a promising TradeSoft platform with a long list of assets. This broker comes with exceptional trading opportunities allowing the traders to try their luck with Market indices, Commodities, Forex, Crypto, and Stocks…
BECFD offers 200:1 leverage on Forex Pairs. It promises a spread of 3 pips. The website is based on the popular MEtaTrader4. In addition, the broker offers a trading app that is compatible with iOS and Android. The website is available in Russian, Italian, German, and English. It only requires $250 deposit to start trading on this platform.
Now come the important considerations. Before opting for this broker, it is important to know the truth behind the BECFD scam warnings, withdrawal policy, company’s background, and licensing. Let’s get off the mark with a brief overview of the company.
We appreciate that you might have come to this review just looking for some specific information on BECFD so to make things easier for you we’ve put together some quick navigation links below:
- BECFD Background
- Is BECFD Regulated?
- BECFD Complaints
- BECFD Withdrawal
- Is BECFD a Scam?
- Our Verdict on BECFD
- Get Your Money Back From BECFD
- A Better Legitimate Way To Make Money
BECFD Ltd. owns and operates BECFD treading platform from the Marshall Islands. Following is the contact information mentioned on the broker’s web…
- Web. www.becfd.com
- Email. firstname.lastname@example.org , email@example.com
- Phone. 020 3332 0842 , 020 76163142 , 020 7616 3139 , +39 (0)6 9480 2953
The website states that a team of committed and enthusiastic financial experts established BECFD to help traders make the most of the four major trading markets. Advanced charting software and analytics make BECFD one of the most promising online brokers.
BECFD promises Five-Day/24-hrs support. In addition, the website entertains the clients with an international support number. We went through the content of the website and it disappointed us. The content talks about a client’s security but doesn’t specify one or two main security features.
Everything is generalized so the website misses the “HOW” factor and only focuses on the “WHAT” factor. This is not a good sign. Traders always want to know “HOW” the broker is different from others. Nobody is interested in reading anything which is already there on other websites as well.
Is BECFD Regulated?
Unfortunately, we are again reviewing an UNREGULATED broker. On top of that, BECFD is operated by an off-shore entity. The worrying sign is that we didn’t manage to explore anything about the company’s legal status. The website presents a couple of phone numbers that belong to Austria and UK. We assume that these are actually virtual offices.
Let’s have a look at the public warnings against BECFD.
- 21-03-2018: FCA (UK) issued a public warning stating that the broker isn’t authorized to operate in the UK.
- 21-03-2018: At the same time, the public warning from CONSOB (Italy) was also issued to warn traders against BECFD.
- 10-09-2018” FMSA (Belgium) warned public against BECFD.
Well, there is nothing encouraging in this section. The broker is neither regulated nor supervised, and it is being operated from an off-shore location.
Unsolicited calling has been a notorious practice and BECFD is no exception. If done within limits, it doesn’t hurt, but the problem with this broker is that its representatives keep bugging the same audience repeatedly. This is what irritates the potential clients and this is the major reason that provokes the regulatory authorities to issue public warnings against this broker.
In addition, the existing clients aren’t happy with the repeated calls from the broker’s reps. They keep trying to convince the existing clients that more deposit shall open the doors to the profitable trading bids.
A few clients aren’t happy with the ill-practice of delaying the withdrawals. Some have claimed that the broker banned their withdrawal. If this is true, the broker is not safe at all. We don’t pass any comment at this point because the clients didn’t present any proof while complaining against the cancelled withdrawals.
But we do have evidence of abandoning specific clients from reaching the support team. This is a huge red flag. It clearly means that the broker isn’t happy with the client’s questions and issues or it simply doesn’t want to resolve the client’s problems.
BECFD facilitated withdrawal via Neteller, Sofort Banking, Giropay, Paysafecard, Credit Card, and Bank Wire.
The website doesn’t talk anything specific about the withdrawal process. You have to contact the support team to get the latest information.
We’ve found that the withdrawal takes from at least 3 working days to 7 working days. You can withdraw the amount via Credit Card or the eWallet (equal to the deposit) and to withdraw the profit, you have to opt for the wire transfer.
Is BECFD a Scam?
The website is operational but it doesn’t make any difference. This broker is not complying with the regulatory authorities. BECFD is following the footsteps of a typical scam artist. BECFD scam warnings are the most powerful red-alerts. The off-shore location is another problem. We don’t see anything encouraging with this broker.
Our Verdict on BECFD
BECFD is not going to stay for a long time. If it has to stay, it has to get approval from a legitimate regulatory authority. Till now, the company hasn’t made any serious attempt to acquire the license. In addition, the clients have already started complaining about the failed/banned withdrawals. The broker intentionally blacklists the frustrated and unhappy clients and restricts them from reaching the Support Team.
If you want to make a smart move then BECFD must be avoided. There is no need to take any risk.
Get Your Money Back From BECFD
Since initially publishing this review a lot of reports have begun surfacing about people losing money to BECFD. According to reviews on sites like TrustPilot their withdrawals have been blocked & as a result they cannot access their funds.
So if this has happened to you too then you might be wondering what you can do to get your money back – but don’t worry because you have landed in exactly the right place to find out.
That’s because here at Stopping Scammers we’ve put together a free money reclaim guide which walks you through the exact steps of getting your money back from these binary options scammers.
The guide is completely free to access & to date it has helped thousands of people to successfully retrieve their money from online scams like binary options scams so we are certain it can help you too.
A Better Legitimate Way To Make Money
If you haven’t already begun trading with BECFD then that’s a good thing because we advise against it (which you probably won’t be surprised to hear after reading our review)… However you might now be left wondering how you can actually legitimately make good money online…
Well the good news is that here at Stopping Scammers, despite exposing many scams, we have actually come across many good legitimate opportunities to make money too that actually work.
However out of all of the opportunities that we’ve come across there has been 1 in particular that has stood out from all of the rest. As a result we have decided to name this our number 1 recommendation for working from home.
If you want to get access to our number 1 recommendation you can do so by clicking the link below: