Why you shouldn't choose BNFX& I'll tell ypu. I, a completely inexperienced trader, was led (like many others) to tempting offers of training, accurate SMS signals and the help of a personal analyst. And for this I want to honestly say BNFX many thanks! Because, although I lost the first $1000 through them and thanks to them, but it was a lesson for me for life - never trust analysts, always check the signals, and not stupidly follow them and you need to learn yourself, and not hope that others will put into your head what they themselves do not have! By the way, when I lost my deposit and told my manager that it happened thanks to their signals, he told me - "Well, who believes the signals?". That's exactly what he said. So my review of BNFX is not flattering.
I have a real account since 2011. Broker is not perfect, but it's definitely working on improving all services. I don't wanna make review about this firm, but i remember a few events of margin call, bnfx didn't close all positions, giving me an advantage while avoiding large expenses to re-enter positions after depositing required funds. I also think it is a good firm for trading on news by using limit orders. Spread is wide but not that much to lose opportunities of market conditions.
Hey, Jim. You have nothing to worry about size of the company. It is not actually a big problem. You've better focus mostly on your own trading method and money management. You won't have requotes or wide spreads. I have a very positive experience and will move all my funds from another broker to this one. Remember, that it's regulated company. You have quick withdrawal and account opening process. Very fast to make deposits. I don't want to recommend this broker, but I don't regret about my choice and feel comfortable trading through bnfx.
It looks like a small brokerage firm. I'm looking for some reliable broker to open an account. As I said, bnfx looks like a company that has standard and ECN types of accounts. In support, manager said that they have no commissions if I have STP account. He also told me that company holds all funds in segregated accounts and there is no risk of my deposit. After a couple of weeks, I opened a demo account. It's working well and I see no technical issues. I think it's time to switch for real money trading. But I'm little nervous about size of the broker and lack of comments how people trade with bnfx. Please, share your experience.
