About the company
BMFN, which stands for Boston Merchant Financial Network, was established in Sofia, Bulgaria in 1988. BMFN Commercial Brokers LLC is now based in the Republic of Vanuatu. The broker also has offices in Dubai (UAE), Sydney (Australia), Auckland (New Zealand), and Shanghai (China). BMFN is used by over 100,000 dealers and has ties to over 16,000 enterprises.
The corporation provides their BMFN online web trading app, MT4, and UniTrader. For mobile devices, there are MT4 and UniTrader smartphone options. All of the systems are compatible with MacOS and Windows, as well as Android and iOS systems.
A $50 deposit is required, as is a $50 withdrawal. There are no fees for depositing or withdrawing money. However, because all rewards are in US dollars, currency conversion can be costly. Withdrawals and deposits are processed within 24 hours of receiving the request, while wire transfers can take up to 5 business days depending on the bank. All withdrawals are made to the account that was used to finance the trading account.
Deposits and withdrawals can be made in several ways:
- Credit/debit card
- bank transfer
On a demo account, you can practice your trading skills and get used to the platform. A demo account is accessible on both the MetaTrader 4 and UniTrader platforms, as well as the web trading interface. In a simulated real-world setting, the demo account lets you test multiple markets and refine methods with unlimited funds.
BMFN offers bonuses and promotions to both new and existing clients on a regular basis. A 20 percent deposit bonus for deposits above $500 and “Refer a Friend” campaigns are examples of these. These bonuses usually only apply to Forex trading.
BMFN has a number of licenses from various regulatory agencies. The Vanuata Securities Dealer Licensing is their primary regulatory license in the country where they are based. They also have licenses in Australia (ASIC), New Zealand (FSP), and the United Kingdom (UK) (FCA).
BMFN provides a dedicated education section with a wide range of resources for honing your trading skills. There is a course for novices, as well as a course on trading tools and methods, both of which are acceptable for all beginners. MetaTrader tutorials are also available in the Education Center to help you learn more about the platform and how to utilize it. The Learning Center gives you access to the basic forex e-book as well as the advanced forex e-book, which is designed for more experienced traders.