Independent rating of Forex broker BTFX

About company

BTFX is a Maltese broker that belongs to Brokersclub Ltd. The company was established in 2011. Brokersclub Ltd. is licensed by the Malta Financial Services Authority (MFSA), the only financial regulator in Malta. The MFSA applies a set of specific rules and requirements to license holders. One of the main rules is that license holders are required to maintain a risk management system and report on their activity to the MFSA. Interestingly, all the information about the broker in this review has been found on third-party websites, since the broker’s official website features only contact details, including geolocation, email, and a phone number. This, of course, does not mean that the broker is a scammer, but we strongly recommend that you pay attention to this fact.

Trading conditions

• 45 currency pairs, commodity futures, and CFDs
• commission
• precious metals: gold and silver
• account currencies: USD, EUR, GBP, and JPY
• contests
• PAMM accounts
• affiliate program
• segregated accounts
• hedging
• trailing stop
• interest rate (swaps) for opening a position
• one-click trading
• pending orders
• scalping

Trading platform

BTFX clients have an opportunity to trade through the MetaTrader 4 (MT4) trading platform. The MetaTrader 4 platform helps users implement strategies of any complexity. Traders have access to market and pending orders, chart trading, a tick chart, trading history, and a trailing stop. In addition, hundreds of trading signals with different levels of profitability and risks are available to users of the trading platform. Both the demo and live accounts give access to the signals.

Support service

Clients can reach out to the BTFX support service via an online form, email, or phone.

Traders’ reviews

Mainly, traders call BTFX a scam broker and criticize the company for the inability to withdraw funds. Apart from that, users are displeased with the work of the BTFX support team. Thus, many traders reported that their accounts were blocked after they had filed a complaint to the support service.

Advantages:

• bonus program
• narrow spreads
• affiliate program
• user-friendly trading platform

Disadvantages:

• lack of relevant information on the website
• high initial deposit
• poor order execution
• problems with withdrawing funds
• service malfunctions