BMFN

This broker does not accept traders from United States.

In the market since 1988, BMFN is an international CFD and forex broker based offshore in Vanuatu. The firm offers direct market access (DMA) on over 90 instruments and the MetaTrader 4 platform. Minimum deposits start from $50 and leverage is flexible up to 1:200. BMFN has over 14 offices worldwide and is regulated by the Vanuatu Financial Services Commission (VFSC).

Instruments:

CFD, Forex, Stocks

Demo Accounts:

✔

MetaTrader 4:

✔

MetaTrader 5:

✘

cTrader:

✘

STP Account:

✘

ECN Account:

✘

DMA Account:

✔

Margin Trading:

✔

Social Trading:

✘

Copy Trading:

✘

Islamic Account:

✘

Min. Deposit	$50
Min. Trade	1 Lot
Regulated By	VFSC
Mobile Apps	iOS & Android
Currencies	USD

CFD

BMFN’s small range of 90+ CFDs covers currencies, equities, indices, ETFs and commodities. Trading is only available on the MetaTrader 4 desktop terminal or web platform, so traders looking for a bespoke solution may want to look elsewhere. Spreads are relatively high compared to other brands, though I am glad to see that there are no commissions.

GBPUSD Spread	1.8
Oil Spread	2.2
Leverage	1:400

Forex

During testing, I found 20+ currency pairs covering majors and minors with variable spreads. I think this is a pretty poor selection considering most brokers offer 30+ pairs. Also, spreads aren’t particularly competitive, starting from 1.4 pips for major pairs. Most brokers I review aim for less than 1 pip on average.

GBPUSD Spread	1.8
EURGBP Spread	4
EURUSD Spread	1.5
Assets	22