BFB Capital

Overview of BFB Capital

BFB Capital, a financial brokerage company, is based in Belarus and has been operating since its establishment in 2018. The company is regulated by the National Bank of the Republic of Belarus (NBRB), ensuring compliance with rigorous legal requirements and providing a level of trustworthiness to its clients.

One of the notable aspects of BFB Capital is its diverse range of tradable assets, which includes cryptocurrencies, Forex, indices, commodities, shares, ETFs, futures contracts, interest rates, and more. This diversity allows traders to access a wide array of financial instruments for their investment needs.

Traders using BFB Capital have the advantage of choosing from various account types, including BFB Standard, BFB Pro, BFB Absolute, BFB Standard Islamic, and BFB Pro Islamic. Each account type may have specific features, minimum deposit requirements, and leverage options, allowing traders to tailor their trading experience.

Is BFB Capital legit or a scam？

BFB Capital is a regulated financial institution in the Republic of Belarus. The company holds a Retail Forex License issued by Belarusian regulatory authorities, enabling it to offer retail forex trading services. Under this license, BFB Capital is obligated to adhere to regulatory standards and provide a secure trading environment for its clients. The license, with the identification number 193023796, became effective on November 5, 2018, and is associated with the licensed institution located at Internacionalnaya St. 25а-24, cabinet 22, 220030, Minsk, Belarus.

Pros and Cons

Pros:

1. Regulated by NBRB:

1. BFB Capital is regulated by the National Bank of the Republic of Belarus (NBRB). This regulation provides a level of oversight and accountability, enhancing the trustworthiness of the broker.

2. Wide Range of Cryptocurrencies Available:

1. BFB Capital offers a diverse selection of cryptocurrencies for trading. This variety allows traders to access different digital assets, providing opportunities for diversification.

3. World-Class Platforms (xStation5, MetaTrader 4):

1. BFB Capital offers access to two leading trading platforms, xStation5 and MetaTrader 4.

4. Supports a Variety of Payment Methods:

1. BFB Capital accommodates multiple payment methods for deposits and withdrawals, providing flexibility and convenience for traders.

5. Easy to Use:

1. The broker's platforms and services are designed to be user-friendly, making it accessible for traders of various experience levels to navigate and utilize.

Cons:

1. Limited Educational Resources:

1. BFB Capital may have limited educational resources available. This could be a disadvantage for traders who rely heavily on educational materials to enhance their trading knowledge and skills.

2. Not Available in Some Countries or Regions:

1. BFB Capital may not be accessible to traders in certain countries or regions due to regulatory restrictions or other factors. This limitation can restrict access to their services.

3. Limited Market Analysis and Insights:

1. The broker's market analysis and insights may be limited in scope. Traders who rely on extensive research and market commentary may find these resources lacking.

4. Customer Support:

1. The quality and responsiveness of customer support can vary among brokers, including BFB Capital. Some traders may have mixed experiences with customer support, and it's essential to consider the level of support provided.

Market Instruments

BFB Capital offers a range of financial products across different markets. Here's a concrete description of the products they offer based on the provided information:

Forex Trading:

• BFB Capital provides access to the Forex market with over 40 currency pairs.

• They offer tight spreads, with some pairs having spreads as low as 0.00001.

• There are 48 currency pairs available for trading.

• Traders can choose between different account types, including Fix Pro, which charges $4 per transaction of any volume.

• No requotes are guaranteed.

• Leverage of up to 1:500 is available for traders.

• The platform ensures ultra-fast performance and high liquidity.

• Target spreads are specified for key instruments such as GBPUSD, EURUSD, and USDJPY.

Indices Trading:

• BFB Capital offers access to more than 20 major stock indices from around the world.

• Traders can benefit from high liquidity and tight spreads.

• The indices are available for trading 24/5.

• Similar to Forex, there are different account types and a Fix Pro account option.

• No swaps are applied.

• Leverage of up to 1:500 is available.

• Target spreads are specified for key indices like DE30, UK100, and US500.

Futures Contracts:

• BFB Capital provides access to non-deliverable over-the-counter futures contracts, including energy, precious metals, and agricultural futures.

• Traders have access to 37 financial instruments in this category.

• Similar to other markets, there's a Fix Pro account option.

• No swaps are charged.

• Exchange flow quotes are available.

• Leverage of up to 1:500 is offered.

• High liquidity is emphasized.

• Target spreads are specified for key instruments such as GOLD, OIL.WTI, and OIL.

CFD Stocks:

• BFB Capital allows traders to trade CFDs on stocks in the United States and Europe on a single account.

• DMA (direct access to the market) is offered, and market spreads without markups are provided.

• Trading mode T + 0 is available.

• Traders can engage in dividend payments.

• Operations can be performed in both buy and sell directions.

• Leverage of up to 1:10 is available.

• Access is provided to over 1500 securities.

• Target spreads are specified for key stocks like Apple Inc, Facebook Inc, and Alphabet Inc.

ETFs (Exchange-Traded Funds):

• BFB Capital offers access to 60 ETFs from European and American exchanges.

• They provide DMA (direct access to the market) for ETF trading.

• Operations can be executed in both buy and sell directions.

• ETFs enable investment diversification.

• A commission of 0.08 is applied.

• Trading mode T + 0 is available.

Account Types

Here's a table summarizing the information for different account types offered by BFB Capital:

How to Open an Account？

Opening an account with BFB Capital involves several steps. Here's a concrete breakdown of the procedure in six steps:

Step 1: Visit the BFB Capital Website

• Start by visiting the official BFB Capital website through your web browser.

Step 2: Click on “Open an Account”

• Look for the “Open an Account” or similar button/link on the website's homepage or the dedicated account opening page.

Step 3: Select Your Account Type

• Choose the type of trading account that suits your needs. This could be BFB Standard, BFB Pro, BFB Absolute, BFB Standard Islamic, or BFB Pro Islamic, based on your preferences and trading style.

Step 4: Complete the Online Application

• Fill out the online application form with your personal information, including your name, contact details, and financial information.

Step 5: Verify Your Identity

• BFB Capital may require you to verify your identity as part of the account opening process. This typically involves providing a copy of your ID or passport and proof of address. Follow their specific instructions for identity verification.

Step 6: Fund Your Account

• Once your account is approved and verified, you can fund it by depositing the required minimum amount, which varies depending on the chosen account type. You can typically fund your account using various payment methods offered by BFB Capital, such as bank transfers, credit/debit cards, or electronic payment systems.

Leverage

The maximum leverage offered by BFB Capital is 1:500. This means that for every $1 in your trading account, you can control a position size of up to $500 in the financial markets. Leverage allows traders to amplify their exposure to assets, potentially increasing both profits and losses.

It's important to note that while high leverage can magnify gains, it also carries a higher level of risk, as losses can be substantial. Traders should use leverage cautiously and consider their risk tolerance and trading strategy when deciding how much leverage to utilize in their trading activities. BFB Capital provides this leverage level to offer traders flexibility in managing their positions, but it's essential for traders to understand the implications of using leverage and implement risk management strategies accordingly.

Spreads & Commissions

BFB Capital offers varying spreads and commissions depending on the type of instrument being traded and the specific account type. Here's a description of spreads and commissions with respect to BFB Capital:

Spreads:

• BFB Capital provides competitive spreads for different instruments such as Forex pairs, indices, commodities, shares, and ETFs.

• The minimum spread values differ based on the chosen account type. For example, spreads for major Forex pairs can be as low as 0.1 pips for BFB Pro and BFB Pro Islamic accounts.

• The spreads for other account types like BFB Standard and BFB Standard Islamic may be slightly higher, with spreads as low as 0.9 pips.

• Spreads can vary depending on market conditions, including volatility and liquidity.

Commissions:

• BFB Capital charges commissions on certain types of trading activities, typically for CFD securities and ETFs.

• The commission rate is specified as 0.08% per transaction, with a minimum charge of 8 units in the account's currency.

• For Forex, indices, and futures contracts, BFB Capital may not charge a separate commission per transaction. Instead, the cost is often included in the spread.

Trading Platform

The xStation 5 trading platform offered by BFB Capital is described as a new-generation platform developed over more than 10 years by a team of specialists under the brand XTB. Here's an objective description of the platform based on the provided information:

xStation 5 is positioned as a trading platform that embodies quality, reliability, and performance. It is associated with the recognizable and popular brand XTB. The platform is characterized by the following features:

1. Development Expertise: xStation 5 is the result of more than a decade of development in the software field by a team of highly qualified specialists. This suggests a substantial investment in technology and expertise.

2. Customizability: The platform is described as intuitive and fully customizable. Users can tailor it to their preferences, which can enhance their trading experience.

3. Screener Tool: The platform includes a built-in screener designed to sort companies' stocks based on various useful filters, including market capitalization, dividend yield, earnings per share, ratios like P/E and P/B, financial performance metrics like ROE, BETA, ROIC, and percentage change. This tool can assist users in making informed investment decisions.

4. Mobile Compatibility: xStation Mobile is available for smartphones and tablets, supporting both Android and iOS devices. It provides access to market news, an economic calendar, and tools for managing trading accounts. The mobile platform is described as having features like customizable tool lists, one-click trading execution, position monitoring, transaction history, and access to financial experts' online comments.

5. Availability: The platform is available for Android devices with a minimum requirement of Android 4.0.0 and for iOS devices with a minimum requirement of iOS 7.0 and later. It can be downloaded from the AppStore and PlayMarket.

Deposit & Withdrawal

BFB Capital typically offers various payment methods for depositing and withdrawing funds from trading accounts. These payment methods include:

1. Bank Transfers: Traders can deposit and withdraw funds through bank transfers. This method usually involves transferring funds from a bank account to the brokerage account. Bank transfers are a secure but relatively slower option.

2. Credit/Debit Cards: BFB Capital may accept deposits and withdrawals via credit and debit cards such as Visa and Mastercard. This method is often faster than bank transfers.

3. Electronic Payment Systems: The broker may also support popular electronic payment systems like Skrill, Neteller, and others. These provide a convenient and speedy way to manage funds.

4. Other Payment Options: Depending on the region and account type, BFB Capital might offer additional payment options like local bank transfers, online wallets, and more.

Fees:The fees associated with deposits and withdrawals can vary based on the payment method and specific terms and conditions set by BFB Capital. Here are some typical fees to consider:

1. Deposit Fees: BFB Capital may not charge fees for deposits, especially when using electronic payment methods or credit/debit cards. However, fees could be associated with bank transfers, depending on your bank's policies.

2. Withdrawal Fees: Similar to deposits, there may be withdrawal fees for certain methods, particularly for bank transfers. Electronic payment methods typically have lower or no withdrawal fees.

3. Currency Conversion: If you deposit or withdraw funds in a currency different from your trading account's base currency, currency conversion fees may apply.

It's essential to review the broker's specific fee schedule and terms and conditions for deposits and withdrawals, as these can change over time and may depend on the account type and region.

Customer Support

BFB Capital typically offers various communication channels to assist traders and address their inquiries and concerns. These communication channels include:

• Phone Support: Traders can contact customer support via a dedicated phone line. Phone support is often available during working hours.

• Email Support: BFB Capital provides an email address where traders can send their questions or requests. Email support is generally available 24/5.

• Live Chat: Live chat is a convenient option for immediate assistance. Traders can engage in real-time text-based conversations with customer support representatives directly through the broker's website or trading platform.

Educational Resources

BFB Capital lacks educational resources, which can make it difficult for new users to learn how to use the platform and trade cryptocurrencies.

Some of the educational resources that are missing from BFB Capital include a comprehensive user guide, video tutorials, live webinars, blogs and etc.

The lack of educational resources on BFB Capital can make it difficult for new users to learn how to use the platform and trade cryptocurrencies. This can lead to mistakes and losses, which can discourage new users from trading.

Conclusion

In conclusion, BFB Capital offers traders a regulated and trustworthy platform with a wide range of cryptocurrencies and access to world-class trading platforms like xStation5. The broker supports various payment methods and maintains user-friendly interfaces, making it accessible for traders of different experience levels.

However, BFB Capital has room for improvement in terms of educational resources and market analysis. Additionally, it may not be available to traders in specific countries or regions, and the quality of customer support can vary. Traders should weigh these advantages and disadvantages carefully when considering BFB Capital as their brokerage choice.

FAQs

Q: Is BFB Capital a regulated broker？

A: Yes, BFB Capital is regulated by the National Bank of the Republic of Belarus (NBRB), ensuring compliance with strict legal requirements.

Q: What trading platforms does BFB Capital offer？

A: BFB Capital provides access to world-class trading platforms, including xStation5 and MetaTrader 4, offering a range of advanced tools and features.

Q: Can I trade cryptocurrencies with BFB Capital？

A: Yes, BFB Capital offers a diverse selection of cryptocurrencies for trading, allowing you to access various digital assets.

Q: Are there educational resources available for traders？

A: BFB Capital offers limited educational resources, so traders seeking extensive educational materials may need to supplement their learning elsewhere.

Q: Is BFB Capital available in all countries？

A: No, BFB Capital may not be available in some countries or regions due to regulatory restrictions. It's essential to check if it is accessible in your location.

Q: How responsive is BFB Capital's customer support？

A: The responsiveness and quality of BFB Capital's customer support can vary. Traders may have mixed experiences, and the level of support provided may differ.