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Website: http://www.baronforex.com
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Baron Forex (BFX) claims to provide the following advantages:
- Min deposit $300
- Liquidity from leading global banks
- 1 click instant execution
- Fixed spreads- 2 pip EUR/USD
- MT4 platform
- Leverage up to 200:1
- Personalized Service
- Unparalleled Client Support
Baron Forex is regulated and audited by:
BFX Capital Inc. (BFX) is registered with The International Financial Services Commission and is licensed and regulated for trading in financial and commodity-based derivatives and other securities, including foreign exchange (Forex). IFSC No.6012909.
Located in Belize.
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REVIEWS & RATINGS
Angela
August 4, 20103 years Total
2 weeks with this Broker
Dear Traders,
I signed up an IB agreement with Beron Forex (BFX) on 19th/07 and my first client Sarah deposited 26,000 opening an institutional account with BFX on 25th/07. According the IB agreement,
1) My client would get 1 pip rebate if she completed 1000 lots. It means BFX will credit $10,000 to her account.
2) The rebates on the IB agreement are:
0 to 249 lots = 0.5 pip
249 to 499 lots = 1 pip
500 to 749 lots = 1.5 pips
750 plus = 2 pips
3) The trading volume begins as soon as my first client does the first
trade and is calculated 24/5 in real time and the commission bank
wires are sent on the 30th day of every month.
My client Sarah completed 557 lots on 26th /07 and on her way to reach 1000 lots to have 1 pip rebates.
BFX didn’t have any intension to give Sarah and I any rebates. BFX started to change IB agreement becoming:
1) There is no rebate for my client even she completed 1000 lots.
2) I only can get 1 pip rebate after my client completed 1000 lots and my client need to deposit another $24,000 deposit, otherwise I can’t get any rebate at all.
We are forced out of BFX with ridiculous new IB agreement. My client Sarah were forced to close her account with BFX with the lost $5,656 ( She only got $20,344 back). I did not get any commission from BFX and my client did not get any bonus.
BFX is 100% Scam Company!! Stay away from them!! I am going to file the documents to report their regulator.