Why is this scam

This site is using an anonymous service – which prevents us from identifying the site owner. This can sometimes be just so that the owner does not receive spam. But be aware that many scam sites use this as a method to hide their identify. There are several account types available with this forex and CFDs broker and according to their website, every trader, regardless of the experience and education level, may find something for themselves. BFPFX does not have a Demo account which is an strange thing. Demo accounts are a way of getting experience and offers a risk free environment, which is very important for novices. We couldn’t find out a lot about the specific trading platform that BFPFX uses. It is kind of proprietary platform. That means it was designed specifically for this specific broker. Support service is not quite good. There are only three ways to get in touch with the their customer support agents: sending an email, calling on the phone number highlighted on the website or through the web form on the Contact us section. No live chat! Very strange.

Let’s see the other signs.

It looks that site is United States based, but the real location is being hidden.

ABOUT US page has no single word about who they are.

‘BFP FX members are made up of professional forex brokers, experts in derivatives and risk management, and payment processors. Cover all aspects of trading CFD/Forex , so you have the best ever proven trading experience.’ Sic!

We couldn’t find any presence on social networks.

The signs of confirmation

Is safe? How to tell you? They are unknown. We noticed that doesn’t use HTTPS protocol, for example.

Also we found several testimonials on the internet and all of them were very negative. They are all about how account managers refuse to trade traders account unless they deposit of $20,000 or more. Some of them already had deposit of $2,500 and had no wish to increase it before the first trade. When some of traders wrote to the manager that they would like to withdraw their funds account managers were very displeased.  In many cases several minutes later account managers traded accounts (after several months without of any action) and purposely lost the trade, according to traders. The assumed that account managers to lost on purpose because they wanted to withdraw their funds. If it is true, that is the great alarm.

Recommendation Be extremely careful with BFP FX. Non-regulated!