Score
Hong Kong
|
2-5 years
| http://www.bfy-c.co/en
Website
Rating Index
LicensesLicensed Entity：BACERA CO PTY LTD
License No. 328794
Hong Kong
bfy-c.co United States
General Information
Beefy Coin Limited was incorporated on 31-MAY-2022 as a Private company limited by shares registered in Hong Kong. The companys status is listed as “Live”.
Beefy Coin Limited provide its clients access to various financial markets, such as Foreign Exchange, CFD products, as well as commodities. This brokerage house hypes that it offers superb trading experience, with maximum trading leverage up to 1:400 and 24-hour customer support at your disposal.
Please note that Beefy Coin Limited is not subject to any valid regulation currently.
Market Instruments
With the Beefy Coin Limited platform, investors have the great flexibility to choose from various trading instruments to diversify their investment portfolios. Different types of trading assets including currency pairs, a series of CFD products, and commodities are available through this brokerage platform.
Account Types
Unlike many other forex brokers, Beefy Coin Limited does not provide tiered accounts to suit varying trading needs of different traders. Only one account is available. With just one account, you can trade all kinds of investment portfolios in the global foreign exchange market anytime, anywhere.
However, the minimum deposit required by the account is not disclosed.
How to open an account with Beefy Coin Limited？
Opening a live account with this brokerage house is an easy and simple process, with a few steps to follow:
1. Click the Open a real account link, then fill up some required information on the popping-up page, such as your name, your residence of country, a valid email address, and password, etc.
2. Upload your relevant data for this brokers verification.
3. Choose a preferable payment method, fund your account and begin to trade with this broker.
Leverage
When it comes to trading leverage offered, Beefy Coin Limited say it allows clients to use the maximum leverage up to 1:400, which is significantly higher than the appropriate amount considered by most regulatory authorities.
High leverage is not always the good thing, as it involves high risk. Leverage can magnify gains, but more importantly, it can cause serious capital losses, especially to inexperienced traders. Therefore, investors are strongly recommended to choose the proper amount that they feel comfortable.
Spreads
Spreads from 0.0 pips are advertised by Beefy Coin Limited. However, it does not specify spread on particular instruments. Maybe you can get a feel of its trading environment through its trading platform.
Overnight Interest
Traders who are planning to hold their positions overnight should always consider overnight interests as an additional cost.
Here is how the overnight interest is calculated:
Overnight interest = annual interest rate difference / 360 days *1 standard hand contract unit * hand number * exchange rate price (many / empty) * interest days
Some key points you should notice:
Interest will be charged or paid only when the position is held to the next forex trading day.
The interest is collected and paid at 0:00 MT4 time (5-6 am Beijing time) at the end of each business day.
On Wednesday night, the swap was settled at three times the usual rate.
When the order is locked, both sides will be charged overnight interest.
Trading Platform
Unfortunately, Beefy Coin Limited fails to provides the industry-leading MT4 or MT5 trading platform, what it offers is a proprietary trading platform that can be available on IOS, Android and PC devices.
Customer Support
Beefy Coin Limited relies on its online chat support to give its clients assistance concerning trading account problems or inquiries. Clients also can equally reach out this brokerage firm through email and telephone.
Here are some contact details:
Telephone: +60 177929821
Email: service@bfy-c.co
Registered Company Address: ROOM 8, 11/F, WANG FAI INDUSTRIAL BUILDING, 29 LUK HOP STREET, SAN PO KONG, KL HONG KONG
Negative reviews
A few forex traders shared their terrible trading experience with Beefy Coin Limited, saying this broker defraud them by stealing their deposited money and rejecting their withdrawal requests.
Typical forex scams work like this: they get you deposit a lot of money, then manipulate your trading accounts, steal your money and then disappear. Come to WikiFX to read the whole story.
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
The decentralized currency market is a massive goldmine for many. While retail traders attempt to make a life-changing amount of profit from this largest and most liquid financial market, there are also unethical syndicates attempting to target them as their easiest prey.
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FX8097758220
United States
I am unable to withdraw my funds from account!
Exposure
FX2437347168
United States
I invested with Beefy Coin and they are a scam. Their customer support is always “busy”. They have not responded to any emails. They stole the $1000 I tried to withdraw. They locked me out of my account with over $38,000. Do not send them any money.
Exposure
FX2437347168
United States
I became suspicious of Beefy Coin Ltd being a scam and attempted to withdraw $1000 2 weeks ago. As soon as I withdrew the money Beefy Coin locked me out of my account. I emailed their service address 6 times and no one responded. I called their phone number 8 times and the calls go unanswered. I am enclosing my statement showing I should have a balance of $38,661 including the $1000 they deducted, but NEVER transferred it to my Coinbase account. I want my funds returned in whole to me.
Exposure
Nathan 90418
United States
I initially invested $5000 in Natural Seven Limited and made $1000 profit on a trade which I had no problem withdrawing. I then received an email from Natural Seven saying they were switching to a new and more secure platform called beefy coin limited and that I needed to verify via email in order to have my funds transferred over. Which I did and then started a new account on MetaTrader 5 with beefy coin limited. My funds populated in my new account shortly there after. I decided to try for a larger profit so I invested $45,569 in beefy coin and leveraged up times 10 which was approved. On Sunday, July 31st I made a profit of $121,716.00 When I tried to withdraw $150,000.00 from my account, I was told I have to pay taxes on the profit I had made. At a 23% tax rate that comes to $27,900. I told them to take it from my account or from the profits I had made and they refused, saying I had to pay separately and specify it is for foreign exchange taxes. I know it is not customary for brokers to collect foreign exchange tax so I did not send it. They froze my account and cleared out my funds. they were all withdrawn to an admin account. customer service scarcely responds to my messages and when they do, it’s the same rhetoric saying to pay the foreign exchange tax. No instruction or what to do on how to get my funds. I have attached a screenshot of my MT5 account and the transactions that occurred.
Exposure