B-Forex: Is a Scam or a Legitimate Product?

b-forex-mainName:  B-Forex
Website:  www.bforex.com
Price: $100 minimum deposit fee but free memberships.
Owners: B-Forex Ltd.

Bare Naked Scam rating: 2 Thumbs Down

b-forex-scam-rating

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What is B-Forex?


B-Forex is an online broker company that was founded in 2007. It provides a convenient platform for people who wish to trade various stocks and commodities online such as: currencies, silver, gold, and oil.

The company is unique because it does not cater to a global audience. In fact, the service is not available in the following countries: United States, United Kingdom, Brazil, Switzerland, and Greece.

b-forex-scam

The goal of the company is to provide a platform for people who wish to trade commodities. It’s similar to other Forex trading platforms. You can monitor the price changes in real time and open and close trades in a matter of seconds. You can collect earnings and withdraw them to a bank account. There’s a whole list of features that are available for members of B-Forex.

On the surface, this company seems legitimate. You might even be tempted to create an account and test your luck on some trades. Be careful. There have been numerous reports and complaints about this trading platform. In fact, it has been listed a scam on several known websites. Is it a scam?

Well, let’s dig a little deeper and find out.

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Is B-Forex a Scam?


Alright, I need to make it clear that B-Forex is right on the line between a scam and a legitimate product.

I have conducted thorough research and it seems this website has received far too many complaints and the support doesn’t seem to bother to help resolve issues for it to be legitimate. It’s not a coincidence. I wouldn’t touch this product with a ten foot pole. If a company fails to respond to complaints and fix their public image, well, there’s not much else to say besides keep your distance. The Forex Peace Army is one of the websites which have listed this product as a scam.

But I should make it clear that the product is not specifically designed to grab your cash. It is possible to trade currencies and commodities on the website to earn a bit of extra cash. On the other hand, it’s not as safe as you might think, and I really don’t recommend investing a lot of cash into this service.

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Does B-Forex Allow Members to Quickly Withdraw Funds?


When it comes to trading online, it’s important to be able to withdraw funds as quickly as possible. Nobody wants their cash to be locked away in a website for an undetermined length of time.

One of the problems with B-Forex is that it takes quite some time to withdraw funds from the website. I understand, sometimes it takes awhile for systems to process the request. Fair enough.

But what about the cases where members didn’t receive their funds?

b-forex-complaint

There have been quite a few cases where the company has frozen accounts for absolutely no reason. In other words, your funds are trapped within website and you’ll never see them again. How many hours did it take to earn that cash? Well, those hours were wasted, because if your account is frozen, that cash will never end up in your bank account.

From what I understood, the reason that these accounts were frozen is because the member was opening trades that were synchronized with press releases and other news outlets. The problem is that B-Forex does not clearly specific what trading techniques are acceptable and which ones will lead to a ban. You’ll have to dive into the terms and conditions and other legal documents in order to find a list of guidelines.

Therefore, there’s a lot of confusion, and a lot of members have their accounts frozen and funds lost due to these small technicalities. I can understand how it can be quite frustrating to have your account frozen after working hard.

I wouldn’t trade with this company because the rules are too obscure. You don’t know what is acceptable and what will lead to a ban. You might be conducting trades as usual and then suddenly realize that your account has been deleted. There’s too much risk involved. Stick to a known Forex trading platform that has a positive reputation.

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There’s One Thing That I Like About B-Forex…


I like the fact the company took the time to create a set of training videos that teach members how to conduct trades for maximum revenue. There aren’t a lot of online brokers that teach people how to trade. These videos offer members the chance to catch an over-the-shoulder-view of traders in action. The videos are quite helpful and I appreciate how the company caters to beginners. There are also several free webinars where members can learn some more techniques.

On top of that, the company offers mobile trading solutions. In other words, members can download the application to their phones and trade while on the move. It’s perfect for traders who want to monitor their trades from anywhere in the world.

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Final Word:


B-Forex is definitely not the best online broker service out there. I wouldn’t say that the service is terrible because it does offer some decent features. The company is not a complete joke and it’s a not a complete scam.

That doesn’t mean that it should be trusted. If you’re interested in getting involved in Forex trading, I would not recommend this program.

There are too many cases where people never received their funds. It might be worth testing out with a hundred dollars or so but don’t throw thousands of dollars at this service. It’s really not worth it.

The training videos and the mobile app is a pleasant surprise but the rest of the website is not worth a long-term commitment.

It’s also important to note that the support system is basically non-existent. The email support system is slow and it takes weeks to receive a response. The LIVE chat sometimes works but most of the time the representative is offline. Not to mention the fact that there’s no search bar in the website and that makes it difficult to find support articles.

In a nutshell, this is one of the smaller Forex trading companies and it already has a terrible reputation. It’s not recommended. If you would like to trade, I suggest that you start with Etoro.

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About the Author

Jack is an experienced online marketer who would like to extend his help to whomever wants to learn more about building a successful online business. Connect with me on Facebook, Twitter, and Google Plus. Read more about Jack and BareNakedScam.com here...

Leave a Reply 72 comments

Reilly - Reply

Whenever an investment site skirts the border between a legitimate business and a scam it’s no accident. It’s their business plan. Close enough to being legitimate in order to lure you in and close enough to being a scam in order to make it difficult for you to withdraw your funds. I fell for a binary options scam so I speak from experience. What’s important is that you can get your money back by applying for a chargeback from your bank. It’s not a simple process when a scam is involved, so I went to a recovery firm called MyChargeback, which made things much simpler. What’s important is don’t give up and fight back!

    Jack Cao - Reply

    Thanks for your comment Reilly1

    Cheers!

    ~Jack (BareNakedScam)

Abdosslam - Reply

I wonder on bad comments despite some a lot of positive trials, however,
I would appreciate all comments,,

ROSHAN - Reply

YES ALWIN.S / ALWIN / AWYN / FROM BFOREX IS A CHEATER

bFOREX IS LOOTED 5000 USD AND NO REPLY FROM THIS GUY FROM BFOREX .

dorcas - Reply

I have already deposited 200$ with Bforex but up to now a month later I cannot get hold of them. the trainer never called neither did the investment manager.
when I log on to the website I et a message that they are not serving clients from my region.
is my money lost or what?

chidosky - Reply

They r asking me to deposit 200$,but am afraid.somebody should advice me pls.

    Jack Cao - Reply

    My advice is to stay away. Many people have already complained about this company. If you want a legitimate place to trade, you may want to check out eToro instead.

    Cheers!
    ~Jack (BareNakedScam)

Steve - Reply

They are total jerks.

After you deposit the money they start asking for all kinds of irrelvant documents whether you want to trade or withdraw.
Every time you send what they sk for they request additional documents hoping you would give up.

How do you they are not legit, they don’t accept US credit cards, or in another word US banks would not deal with them and they are not allowed to operate in the US.
because they would be liable and forced to refund money to their customers without all these BS documents they require.
NEVER CONSIDER DEALING WITH THEM

usman - Reply

Bforex is Indian base fraudulent, Fake and looter site. I started with 200$ and after training I reached at 739$ but next morning I found all my account is ZERO. They withdrew all of my money. I will strongly recommend to not trade or invest in Bforex.

Willlie - Reply

Hi Jack,

Thank you for this information.

    Jack Cao - Reply

    You are most welcome Willlie!

    Cheers!
    ~Jack (BareNakedScam)

Willlie - Reply

Hi Jack,
Thank you for this information about bforex. I almost start to invest with them but there is something bothering me…my doubt! I keep on searching to find an answer to my feelings, good I’ve read and got an information from you.

Thank you.

Niranjan - Reply

they r asking me to deposit 100 dollar to start your trading. Can i deposit or not? Some one please help me out.

    Jack Cao - Reply

    Hi Niranjan,

    I hope you can read all the comments from this post. Most are saying that they have problems cashing out. You have to decide for yourself if you would like to take the risk.

    Hope this helps!

    Cheers!
    ~Jack (BareNakedScam)

Ashish - Reply

Don’t invest, its only Bforex who is making money! I lost $200 few months ago, and inspite of regular emails to them, they didn’t respond to any of those and today i got a call from them apologizing and asking me to invest agai. They promise to help you but never call regularly and whenever they call they insist you to invest more money. Its a big scam. PLEASE DON’T INVEST!

Nithin - Reply

Same happened with me

Nithin - Reply

Dear All,

I would like to share my views too. One of guy aware of my hometown language called me and told me to invest 200 USD as there is some special discount offer under which company will pay additional 200 USD to trade. The way they are marketing is awsume so beware!!!

Thanks members for sharing this details here

Newbietrader - Reply

I was read lot of negative comment about bforex..however his account manager make me confident for their services…he promised me double bonuses and high profit return in short time..he promised to guard me how to be the excellence trader..i deposited on 12 oct 2016..after deposited he and all bforex service team disconnet..any email and call no response..
So , i advise all of you dont make any business with bforex..they are real scammer ..
SAY NO TO BFOREX..SAY NO TO BFOREX..SAY NO BFOREX..SAY NO TO BFOREX..SAY NO BFOREX..SAY NO TO BFOREX..SAY NO TO BFOREX..
SAY NO TO BFOREX

Atif Saleem - Reply

They are just “f”ers and earning money from innocent peoples in legal way after depositing no proper counseling to maintain your deposited amount then result you lose your money in one time don’t deposit a single droller, riyals, rupees and what every your currency.

Philip Abraham - Reply

I had signed up with bforex a month ago and invested $200 as advised by them. As promised by them, an agent was assigned to me to guide on the trading on a daily basis. My profit went up to $1000 within 15 days. But to my surprise, one day it was noticed that bforex had withdrawn my money and account balance became zero. Since then, the agent stopped calling me and no response to my repeated mails to them. The agent name is Ms. Sabina Khan. Not sure the name is genuine or fake. It looks like a big scam.

Rgds

Philip Abraham

Samuel Chiadikaobi - Reply

Hi, everyone my name is Samuel and I wish to tell you people to stop doing business with Bforex because they are defrauding people’s money and there is a lady working in that company she is an Indian woman and their managers are all criminals please for your own safety.

Milan - Reply

it does look like a sort of scam and all the trading indexes seems to be controlled by the operators . Most of the indexes are completely different then the other brokers .
initially they would call and say quite buttery things with joining bonuses and a individual account manager who not at all bother about you and the emails sent are non responded for almost ever .
looks like a scam though i am not so savvy on this but then it seems to be what it is

Saeed - Reply

Thanks Mr Jack. I am new to this and was searching vaguely for any information about this company. Thanks for the valuable information.

fazilkhan - Reply

thanks for sharing your experience with us ,its really helpful for us today i got call from forex and they ask me to deposit 13000 Indian rupees ,you saved my money thank you a l;ot

ifemiolufunmi - Reply

Thank you Jack… I almost made deposits but wasnt really satisfied with the agent’s answers to my questions. God bless u for the insightful info

Victor - Reply

I av been once trade with bforex an when i want to get my fun back i get it sucessfully.. But people keep on whites about it to scam.a lot of say de can withdrew their found back.. I become Alfred some how I had to stop trading with de company

Bini - Reply

Really very useful. Thank you for ur info.

adeyemi muyiwa - Reply

Please recommend good platforms to use. Thanks I nearly fell for their trick too.

    Jack Cao - Reply

    You can try eToro. It is a very good platform to trade.

    Cheers!
    ~Jack (BareNakedScam)

Prakash Pawar - Reply

bforex is very big cheater they are doing cheating with people this is my own experience no one should try this site.

when i was requested for 400 usd withdrawal they are removed all the balance from my account & simply say you are in loss thats why your balance is lost.

ones again i request to all people don’t start trading with bforex.com

Anish - Reply

Hi, I am a user in bforex, initially I invested 3000 $ and the advisor helped me to get 3000 back by making a total profit of 2500 extra than the amount I invested,based on that I invested another 15000 $ because they said if I invest they can activate rebate plan,and then the advisor asked to do certain trading which I did exactly as he advised , if anybody who needs details I can give you the rate I opened and closed ,and then what happened was the rates were different from the investing .com they seems to have a safer trading value in their point of view, that is if the market rate is positive 200 points, bforex will show only 100 difference, we might come into profit only if we cross this 100, according to investing .com live streaming we might be in profit,but according to bforex we will be in loss and to my bad fortune or their software game I lost 19000$ in single day. And the funny part is I just followed what they asked me to do.And I even questioned them when they asked me to open slot when MIB was showing in buy direction they asked me to open in sell direction in a lot of 10 and 15 quantities.So either the advisors not experienced nor their platform is in between sum and legitimate..I felt more of their manipulation .

ABDULLAHI - Reply

Hi Jack,
I was contacted by a staff of bforex promising all the goodies but I tried calling back, I was told they have closed for the day but minutes later this guy calling me. What do you say to that.

    Jack Cao - Reply

    From what I see, this company has a dodgy business model, and I will stay away from it. If you want a reliable place to learn how to trade, you should check out this platform.

    Cheers!
    ~Jack (BareNakedScam)

MoHamed basha - Reply

Bforex is a 100% scam, I am a victim too.

ishola - Reply

bad customer service and very rude staffs working with them .

the staff even cut you off from calls, its very annoying and i wonder what the founding principles are.

i doubt if their vision and mission are well stated.

Shami - Reply

Truth . I also lost $1400 . After losing i asked to give me bonus but they are continuously ignoring. They are playing with people . Please all be aware.

prince Isaac (nigeria) - Reply

wow, thanks for this insight, i have deposited 200usd with this guys (bforex) which i lost due to carelessness of leaving my trade open through d weekend. they sound nice and friendly, good follow up, nice online cash deposite platform.i have asked on how to make my withdrawals before i make any new deposite. all business re risky so i dont mind learning. no withdrawals document no deposite from me again.

sanoj sukumaran - Reply

Dear All ,

Its a complete scam company . I lost all my money trading with Bforex and I can give you all the proof.I have no intention to spread rumours and destroy a company’s reputation. But I am a real bankrupt because of Bforex . I deposited around USD 27K and my account was in USD 114000 trading for one month .They never allowed me to withdraw the money and every time they asked for different documents and I know that they are cheating me . One fine day they told me to open some Trades on gold and silver and by the end of the day my account became 0 all the way from USD 114000.My account manager Mrs Neha Bhavaliya Stopped communicating with me and the next day my account was locked .I could get some of my money back , but I lost my major deposits . So, it is my sincere advice , not to open any trading account with Bforex . Its a scam company and they are not regulated or authorised to be a trading platform provider . Please contact me in Sanoj. Sukumaran@gmail.com and I can give you more information about them and the different ways they are cheat people . Please don’t look at the positive review on online site , because they hire people around the globe through some sites like Fiverr to write good review about Bforex and they get paid . Also there are representatives from Bforex who write good review about Bforex . So please do get yourself fall in the trap and keep away from such scam companies . I am going through a very bad financial situations and my banks and credit cards and badly chasing me because of Bforex .

Regards

Sanoj

00971554993890

    ishola - Reply

    thats so true. very rude set of people .the only thing they are interested in is for you to deposit money. i lost 3500 dollars and the only i could hear them say is when am i deposing more cash. shocking

agbolade - Reply

thank God for these remarks…….almost a victim of online scam

SHEHU BELLO - Reply

What a great information! I almost fall into their trap but this immeasurable assistance saved me. Thanks a lot Mr JACK

    Jack Cao - Reply

    You are most welcome!

    Cheers!
    ~Jack (BareNakedScam)

jibrin musa - Reply

THanks for the information, i would go for etoro or instaforex.

Shaji Toms - Reply

Absolute frauds… don’t be a victim of this fraud traders. Finally you will be a looser like me.

Ronald cornel - Reply

Dear friends
I am having same expirence, now I will try to get back my 200 dollars, my account manger wants me to invest more, I don’t like the way he excuts the trades.

Neville - Reply

Thanks guys! this is what I needed. I am from Kenya. I signed up for bforex, and unusually, I have received a lot of sweet words about doubling money instantly and bonuses, + thousands of dollars. when the deal is too sweet, think twice. I have lost money before and am very careful about where I keep it. For the past weeks I have been receiving calls from the bforex, asking to close in on that $200. I have been hesitant so that I research. the last call was a few minutes ago. I am never answering!!!. thank you

GURVINDER SINGH - Reply

The few days after getting deposited funds as beginner trader Bforex scamed by blinking off error my funds that yet not creditted back into my trade account all officials are complained off; and I do’nt know what to do, if any come contact with must solance to get in hope.

ERICK MWENGEA - Reply

you just helped while i wass about to get into the trap.thex for
i wish i can find atrustworth trading foreign company

    Jack Cao - Reply

    You definitely can! Try Etoro, it is the best and legitimate broker I know.

    Cheers!
    ~Jack (BareNakedScam)

Austin Correya - Reply

I AM FROM INDIA (Bforex Marketing Manager is Mr.Shiffany, he spoke to me good words and so on…) THE BFOREX INVESTMENT IS $200 – I INVESTED IN SEPTEMBER 28-09-2015 FROM UNION BANK OF INDIA. REGISTERED AND GOT BUNUS +200 DOLLORS.
After that one person (He says his name is Kurnal Parnaeth and he was supposed to be my accounts manager) activated my account and after that he disappeared.
I read the Technical Analysis the company sent me daily, they sent to me and started trading on my own and reached $2750 (dollars) After that some one spoke and gave me wrong information in the Trend and lost money day to day.
Today (06-10-2015 – 7.25pm) i was closing on profit and within second (around 10-to -15 seconds) all my positions were closed suddenly – and somebody in the trading dept did it and now my balance is 2.51 dollars(minus) SO I LOST ALL MY MONEY WITHIN SECONDS (Today $ 200 is worth as my investment it is Rs. 14,000/- and this money is sufficient to run a family for a month) THIS COMPANY IS A CHEAT AND A FRAUD ALL GOOD WORDS BEFORE INVESTMENT AND ALL BALLS AFTER THAT – A CHEATING COMPANY ANY WAY BEWARE IF THIS DIRTY COMPANY AND THE STAFF AND MANAGERS ARE A CHEATs
GOOD BYE FRIENDS – PLEASE AVOID THEM AS NOW I AM JUST IN TEARS AND IT CANNOT BE FOR YOU THE NEXT Austin Anslem

Ubana Godwin - Reply

I have invested more than 15, 000$ on bforex but never withdraw any money.please is bforex real ?

    Jack Cao - Reply

    Based on the numerous complaints about the withdrawing process, I would suggest that you withdraw your funds immediately if possible.

    Cheers!
    ~Jack (BareNakedScam)

zikirillah - Reply

thanks you jack! please can you tell one of the trusted online trading apart from bforex

    Jack Cao - Reply

    You may check out etoro here. Etoro is one of the most trusted brokers.

    Cheers!
    ~Jack (BareNakedScam)

kunle - Reply

Thanks a lot. Stumbled upon this while searching about info on Bforex….cause a representative of the brokerage has been on my neck tenaciously asking for my deposit….a lot of the reviews i’ve seen are negative ones. As it is I will not open with this fraudulent lot anymore. Thanks John

digvijay singh - Reply

sir can u give any contact details of bforex office in Dubai as they r not returning my money and hsbc bank is also not helping tell me what to do I m not trading with them and they are showing my balance also

Pria - Reply

I invested 200 dollars and immediate got back 400 as a bonus. Then the Bforex team assigned me a manager that dint explain what to do but just ordered me to trade exactly what she would tell me. And one time I lost 120 dollars with her instructions. So I sent several emails saying I want a refund and I want to close my account. My no answer so far. I think this company should be reported and not allowed to be online. It’s a scam and they should not be allowed to cheat more people.

Abdosslam - Reply

Thanks to you all dears for info.
In fact the way to discover the scamers
And warn people not to deal with them
Depends mainly in trustability and honestly
Delivery information.
What’s the rules of FBA at this point.
This company works since 2007 for online
Trade
Yet no strict lawfull force or firm act to close
That brokerage permanently!!!!
My experience with bforex.com stopped at deposit fund and trade, I lost my fund cuase I needed thousands of dollars to avoid the loss,, in fact I couldn’t risk with high amount of money specialy with not very well trusted online company,,,, I made no trials to withdraw.
Most of complaints as I browse the Websites
Came during withdraw.
I can’t say final word for that brokerage.
Thanks for sharing.
Abdosslam.

oluwadamilare - Reply

This is a scam. They have just stolen my 200dollars. Coveat Emptor!

Chico - Reply

Dear Jack,

Just seeing this.

I have registered and invested only $200 on bforex…. but my trainer kept asking me for more deposit to be able to expand my limit.
I think I have heard enough. I am a poor student trying to raise funds for my MBA. Can’t sacrifice the little I have again.
However, the manager said people gets hurt when they come too greedy to forex and they lose it all.
Thank you for the info. I think you answered my doubts and questions.

Thank you.

vic - Reply

Thanx a bunch jack, you have given me hope that I can get back the 150 dollars of the 190 I deposited with them. Good to know they are a borderline scam.

omran kataya - Reply

they are not only scams but they are theifs they steel the money of their customers all the time , they have stoollen all my account which was over 20.000$ and i do have all the proof .so am working in closing this company soon.

    Jun Sarmiento - Reply

    They stool my money because when I opened my acct. the following day it turn to Zero from 600$. I informed them and requested me again to deposit another 200& so I can recover my lost money?

    atif afzal - Reply

    Dear Omran,

    This company representative is calling me to deposite 200 $.
    have you gone through these type of experience ???

Neil - Reply

Thanks for your own take on the B-Forex program which is another I’ve never heard of before, Jack. Maybe I’ve been hiding under a rock for a very long time lol.

From what I read about the program receiving too many complaints and being sort of “borderline” scam, this sets off alarms in my head to steer clear of this.

Once again, thanks for your thoughts and I will definitely be seeing how you make money online 😉

Neil

    Jack Cao - Reply

    Thanks Neil! Cheers!

    ~Jack (BareNakedScam)

Linda - Reply

Very Impressive! Thanks for the info and what to avoid.

    Jack Cao - Reply

    You are welcome Linda! Have a great day!

    Cheers!
    ~Jack (BareNakedScam)

    akshay - Reply

    this is scam don’t invest any cash
    they trained me and take money all money within 2 days after that they are asking to invest more for it

    they said me via trading make money but i said no need and after give to my own language person and they told me to click on deposit and i said i am not interested they said it’s OK cash will not go and u can take it tomorrow if u join now we will give extra bonus point so just click on deposit and enter your credit card number this only for your bonus point. after deposit i click on withdrawal 200$ i deposited after that vignesh call me and said you cannot withdraw the money now and we will give money via trading within 7 days 100$ so i follow his words and started trading 1st trade i got 100$ but i send withdrawal request but no money came . 2nd day and 3rd day site was in idle mode 4th day morning no problem was there but evening all amount loss and he call me don’t worry i said i didn’t close but how this loss come he tell your margin was changed so now click on another trade .5th day vignesh call me you don’t have any balance so invest more to recover the lost money so i shouted him i already send withdrawal request when i deposit because of vignesh that withdrawal canceled and all my money gone please help me someone to regain my amount

John Hess - Reply

Overall. Well written and great use of images.

    Jack Cao - Reply

    Thanks John!

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