Regulation MFSA
Accepts US Clients: No
Min. Deposit: 250 Euro
Leverage: 200:1
Platforms: MT4

Broker Overview

Company Information

Broker’s Name BTFX Brokersclub Ltd.
Website www.btfx.com
Headquartered in Malta
Founded in 2011
Regulating Authority MFSA
US Clients Accepted  No
Telephone Number 00356 27780733
Fax Number 00356 27780734
E-mail Address info@btfx.com

Account Options

Type of Broker ECN , STP
Commission Yes
Mini Account  Yes
VIP Account  Yes
Segregated Account  Yes
Islamic Account (Swap Free)  No
Demo Account  Yes
Institutional Accounts  Yes
Managed Accounts  Yes
Maximum Leverage 200:1
Minimum Deposit 250 Euro
Deposit Options Bank Wire Transfer , Credit Card
Withdrawal Options Bank Wire Transfer , Credit Card

Bonus & Rewards

No Deposit Bonus No
Bonus for First Deposit  Yes
Is the Bonus Based on the Volume of the Transaction?  Yes
Other Bonuses  Yes

Trading Platform

Platform Type MT4
Platform Languages English, Spanish
OS Compatibility Mac OS , iOS , Windows
Streaming News Feed  Yes
Trading Signals  Yes
Automated Trading  Yes
Trade From Charts  Yes
Market Commentary  Yes
E-mail Alerts  Yes
Mobile Alerts  Yes
Scalping  No
Hedging  Yes
Trailing Stops  Yes
Guaranteed Stop Loss  Yes
Guaranteed Limit Orders  Yes
Guaranteed Fills  Yes
Interest on Margin  Yes
One-Click Execution  Yes
OCO Orders  Yes

Customer Service

Customer Support Languages English, Spanish, German
Customer Service Hours 24h
Place Trades Over the Phone?  No

BTFX - Review

BTFX Review

Considered by many in the online trading industry as one of the fastest growing brokers, BTFX was founded in 2011 to offer spot forex, commodities and CFD trading services to the online retail financial trading community. A subsidiary of the Brokersclub AG Group, BTFX is based in Malta and is regulated by the Malta Financial Services Authority under the European Union’s (EU) Markets in Financial Instruments Directive (MIFID).

As a young and innovative broker, BTFX is driven to provide their traders with the tightest spreads possible coupled with efficient and reliable trading tools. BTFX is also especially well known among traders for their personalized training programs and attractive promotional offerings.

btfx-BTFX - Review-forex-trading-time

Trading Platforms

While BTFX is able to offer their traders a choice of 5 different types of trading platforms, the mainstay of their trading platforms is the proprietary Brokersclub platform called the BTFX WebTrader. With this platform, traders at BTFX are able to trade in fractional lots and directly from their price charts. Apart from having a full range of technical indicators, BTFX WebTrader also gives traders the ability to program their platform to accept trading signals.

 

For the more experienced group of traders, BTFX also provides them with access to the ever popular MetaTrader 4 (MT4) platform. Expert Advisors (EAs) compatible and fully equipped with a complement of sophisticated technical tools, the MT4 platform enables experienced traders to properly analyze the markets and formulate the appropriate trading strategies to suit their trading conditions.

 

Apart from all the above mentioned platforms, there are also versions of the platforms which are tailored for Mac users and those who are constantly on the move. Even those who are trading with multiple accounts can do it with ease with the MT4 Multi Terminal. Finally, there is the “Tradersroom”.  This is an online portfolio manager which traders can use to access their trading accounts and upload their orders or documents to the BTFX server through a secured connection.

BTFX ForexTradingTime.com

Account Types

As for the different types of trading accounts available at BTFX, traders can choose from one of the following:

  • Mini
  • Standard
  • Premium
  • VIP
  • ECN

It should be noted that while BTFX doesn’t makes any distinction between the different types of accounts in terms of spreads and swap rates, there are differences in trading benefits between them. For example, The Mini trading account is targeted to those who just started out trading online. The minimum deposit requirement for the mini account is just £250. For professional traders wanting to use the ECN to trade, they can do so by opening an ECN trading account.

Commission & Spreads

One thing which BTFX can really be commended for is their transparency with all their product offerings and pricings. For example, Mini and Standard account holders knows that their cost of trading are as follows:

Deposit

Cost per lot traded

Up to EUR 1K

Spread + USD 7

Up to EUR 10K

Spread + USD 5

Over EUR 10k

Spread + USD 3

The spreads applicable are detailed below:

Currency Pair Minimum Spread in Pips Min Lot Size Margin Requirement

USDJPY

0,4

0,05

0,5%

EURUSD

0,4

0,05

0,5%

GBPUSD

0,4

0,05

0,5%

EURGBP

0,4

0,05

0,5%

AUDUSD

0,4

0,05

1,0%

Customer Support

As for the quality of BTFX customer support, they have multi-lingual trained staff available anytime to deal with any kind of enquiries from traders. To get in touch with the support staff, traders can email them at info@btfx.com, call them at (+356) 2778 0733 or fax them at (+356) 2778 0734. For more complex technical issues, these are usually resolved through a remote desktop service.

Reliability

While BTFX might be young when compared to other more established brokers, they are by no means any less reliable. For starters, they are a regulated entity under the Malta Financial Services Authority (MFSA) holding a category 2 Investment Services license. In addition, the quality of the services offered by BTFX is also of a standard which is comparable to most established brokers. Hence, traders should have no worries as to whether BTFX is a legitimate and reliable broker.

Pros

  • Experienced Multi-lingual customer support
  • Fully Licensed and Regulated
  • Multiple Trading platforms
  • Remote Desktop Assistance Available
  • Tight Spreads with Minimum slippage
  • Transparent and ethical Broker

Cons

  • No Live Chat Service

 

Conclusion

There is no doubt in our mind that as BTFX continues to evolve, their range of services will be expanded, giving traders at BTFX every opportunity to profit from the lucrative forex market. Their ethos of always striving to innovate and improve on current solutions will no doubt benefit traders trying to get the most out of their relationships with their brokers.




 

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