Score
South Africa
|
2-5 years
| https://bestonfx.tech/
Website
Rating Index
MT4/5
Full License
BestonInternetTech-Server
Influence
C
Influence index NO.1
Thailand 5.22
MT4/5 Identification
Full License
United KingdomInfluence
C
Influence index NO.1
Thailand 5.22
Licenses
Single Core
1G
40G
1M*ADSL
South Africa
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
bestonfx.tech Singapore| 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.
BESTONFX’s legitimacy is a bit ambiguous due to its exceeded FSCA regulation. While it is regulated by FinCEN, which is reassuring for its operations in the United States, the exceeded status of its FSCA license creates some uncertainty for me as a trader. In my view, a broker with a revoked or exceeded license can pose potential risks, and trading with them may expose me to complications in case of issues with funds or disputes. While it is regulated by a credible authority in the US, the lack of transparency about its regulatory status in South Africa, coupled with limited information on trading conditions, would make me more cautious. If I were considering trading with BESTONFX, I’d approach it with careful evaluation, especially considering its short operation time and the possible risks associated with its regulatory status.
BESTONFX is regulated in two countries: the United States by FinCEN and South Africa by FSCA. The FinCEN regulation provides a degree of oversight for the company’s operations in the United States, which is reassuring to me as a trader. However, the FSCA regulation status is noted as “Exceeded,” meaning that the company’s license in South Africa has been surpassed and is no longer active. As someone who values regulatory security, I consider the exceeded FSCA license a risk factor. Even though the company is regulated by FinCEN, the exceeded status raises doubts about its compliance in South Africa, which is something I need to be cautious of when deciding whether to trade with BESTONFX. Without full and active regulation, I would be careful and ensure to understand the risks before engaging in any trading activities.
There are a few pros that stand out to me when considering BESTONFX. First, the broker offers a wide range of products, including Forex, Commodities, Indexes, and Cryptocurrencies. This variety gives me the flexibility to diversify my trades and invest in different asset classes. I also appreciate that BESTONFX offers a demo account, which allows me to practice my trading strategies without risking real capital. The MT4 platform is another advantage, as it's a widely used and beginner-friendly platform for traders like me. The availability of popular payment options like Visa, Skrill, and Neteller makes funding my account easy. Lastly, live chat support adds a layer of convenience, allowing me to get assistance whenever needed. However, these advantages should be weighed against the risks of trading with a company that has an exceeded license in South Africa and limited transparency.
BESTONFX offers leverage up to 1:500, which is quite high and allows me to control larger positions with a smaller amount of capital. While this is an advantage for traders who like to use leverage, such as myself, it also comes with significant risks. High leverage can magnify both potential profits and losses. As I’ve learned from experience, I need to use leverage responsibly and ensure that my risk management strategies are in place before using it. Even though the leverage offers a chance to increase profits, it could also lead to substantial losses, so I’d be cautious when using such high leverage.
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raz2157
Israel
when i deposit my money to them like 850$ they accept it in 3-4 minutes when i tried to deposite my money when i did a profit apparently like 1021$ i can’t to withdraw my money they spead the time and said to me i need at least 3000$ to withdraw the money doesn’t make sense and frustrating now i am waiting for review more then.a week to say to me another exuse this is just sad
Exposure
FX1733599540
Belarus
Its a fine broker, except support through emails is a little slow (you need to wait at least a day) and spreads are bad on forex minor pairs. No news, weekend or market close and open and you can get spread to 16 pips or more in my own personal trade. Dont even think about exotics... Hope this helps.
Neutral
Pierre Dupont
France
BESTONFX started off smooth - easy to use and all. But the spreads could jump around like crazy, which wasn't cool. Plus, their customer service wasn't the most professional. So after two months, I decided to look elsewhere.
Neutral
FX1678917738
Malaysia
A large range of markets, reasonable costs and good execution of orders. I find logging in a bit inconvenient because the chat pop-up interferes.
Positive
Danielchan
Singapore
good good good, their service deserves 10 stars!!! 👍👍👍
Positive
Michael Davies
New Zealand
Contacted by phone, answered quickly. Couldn’t immediately answer my question but they called back promptly with the solution.👍👍👍
Positive
FX1523875063
Philippines
Say hello to my forex saviour – BESTONFX! The account setup process was as quick as a highway ride with their amiable customer service team leading me through it. The phrase “No Slippage” appears to be the mantra at BESTONFX. Their trading platform’s performance is simply superb. It delivers real-time data accurately and without any delay, which is crucial for quick order execution and the prevention of any slippage. Ok, i would say, if you're looking for a broker that walks the walk rather than just talking the talk, BESTONFX is the way to go.
Positive
Cooperhere
South Africa
The performance of the MT4 platform offered by BESTONFX is truly excellent! It's stable and user-friendly, making it easy even for beginners. The speed of trade execution is tremendously fast, ensuring no delays that could impact trading outcomes. The availability of indicators and drawing tools for market analysis greatly enhances the trading process. Its compatibility with different operating systems and mobile availability is simply icing on the cake. I must say, BESTONFX's MT4 platform has significantly uplifted my trading experience.
Positive
Logan Baker
Netherlands
Customer support is quick, but they are not professional. They don't seem to know what they're talking about, and they're not very helpful.
Neutral
nN
Kazakhstan
This forex broker left me feeling frustrated and disappointed on multiple fronts: First, their trading platform was nothing short of a nightmare. It was slow, clunky, and often unresponsive. Trades I entered were frequently executed at unfavorable prices, causing losses that hit where it hurt the most – my wallet. If that wasn't enough, the slippage and spreads with BESTONFX were exasperating. It felt like I was constantly fighting an uphill battle, struggling to secure favorable entry and exit points. Lastly, their response time was in another time zone. Slow and unhelpful, they left me hanging when I needed assistance the most.
Neutral