Bankefex Review: The Number One Platform or SCAM?

Bankefex - logo
Rating:
5

The mission of the broker Bankefex is to provide access to the world’s markets easier, faster, and at a lower cost than what exists in the market today. This company is based in the Comoros Islands, a jurisdiction that has become quite popular for business registration in recent years. It is there that it received a license from the financial commission MISA. So, why is it safe to trade here, how profitable is it, and what advantages does the platform offer? Let’s now examine‌ that.

Bankefex General Information

Website https://bankefex.com/
Phone Number +18009612110
Email support@bankefex.com
Address PB 1237 Bonovo Road, Fomboni, Comoros
License MISA
Minimum Deposit $5,000
Assets CFDs
Leverage 1:200
Trading Platform WebTrader

Registration and Client Portal Review

The introduction to the company unfolds through its meticulously crafted official website, adorned in a minimalist aesthetic of white and blue hues. This deliberate choice of color scheme and the strategic organization of content reflect a masterful balance of visual appeal and functionality, significantly enhancing user experience through intuitive navigation.

The website serves as a gateway to a wealth of information about the firm, including its impressive awards garnered over years of dedicated service. Visitors have the opportunity to explore detailed trading conditions, familiarize themselves with the platform’s features, engage with social media channels for more dynamic interactions, directly contact management for personalized assistance, and meticulously review legal documentation.

Bankefex - official site

The account creation process may seem daunting, but in reality, it will not take users more than 2-3 minutes. Bankefex requests personal information, including contact details, name, and residential address. In addition, a referral code can be specified if available. Traders also need to choose the account currency type — EUR/USD/GBP/AUD/THB/KZT.

Bankefex Trading Conditions

This is a CFD broker where users can trade with leverage up to 1:200. Now let’s move on to reviewing the trading conditions and find out how profitable it is to trade here and what opportunities are available to clients.

Account Types Review

Bankefex has thought of all categories of traders, therefore offers several types of accounts:

  • Beginners. The minimum deposit is $5,000. The tariff includes personal manager service, floating spreads, and mobile trading.
  • Basic. No less than $25,000. Daily signals are added.
  • Silver. From $100,000 and more. The user gets access to a trading academy.
  • Gold. From $250,000. Access to the event room.
  • VIP. No less than 1 million dollars. Additionally, VIP Services, video courses, and webinars are provided.

account types

The additional service will be useful not only for beginners but also for experienced traders. Beginners can consult with friendly managers on trading, financial markets, and the broker. Bankefex also offers signals that help to consistently make a profit, but one must not forget about risk management.

Traders have access to more than 1,500 assets, an Islamic account, and responsive support. At the same time, the balance of the deposit will never drop below zero, and the client will not become a debtor to the company because there is protection against a negative balance.

Trading Platform

Trading in Bankefex is possible both on computers and on mobile phones because the platform supports iOS/Android. For computers, the terminal is available for Windows, but you can also run WebTrader from any browser.

terminal

The platform is on par with popular alternatives and supports all the necessary functions for full-fledged and serious trading:

  • 21 timeframes.
  • Tools for graphical and technical analysis.
  • Up to 100 charts simultaneously.
  • Financial news and alerts.
  • Full set orders, including stop-losses and take-profits.

Bankefex — Deposit and Withdrawal of Funds

Firstly, the broker does not charge any fees for fund transfers, covering both deposit replenishments and withdrawals, making trading even more profitable. Secondly, Bankefex allows for fund transfers using credit/debit cards, bank wire transfers, and cryptocurrency. Thirdly, the processing time for withdrawal requests takes up to 3-5 working days, but often it’s faster.

Verification

As the company operates legally, the verification procedure is a mandatory process. It hardly differs from other brokerage firms, as KYC requirements are essentially identical everywhere. Bankefex asks traders to provide a document proving their identity and a document confirming their residential address. Additionally, if the balance is replenished using a bank card, a photo/scan of the card must be uploaded.

Mandatory KYC is noted as a key indicator of a secure broker. Financial regulators require all companies working with client money to enforce KYC. Thus, Bankefex remains compliant with regulatory bodies to avoid consequences. A document detailing KYC & AML policies can be found on the website.

Additional Options

Bankefex is rich in additional services. Some features were described in the account types section. Moreover, the company offers an affiliate program through which additional income can be earned, independent of trading results. Also available are useful tools: an economic calendar, financial news, trading hours, and contract expires.

Is Bankefex a Scam?

Currently, no suspicious aspects are observed. On the contrary, the company instills a certain level of trust. Its activities are aimed at increasing traders’ chances of successful trading. Next, we will delve into the legitimate status of Bankefex and other operational facts.

So, what do we know about the company? It is managed by Direct Prime Ltd, with a legal address in Mwali, Comoros Union. Let’s try to find information about the organization in the MISA registry, which controls the activities of brokerage firms in this jurisdiction. Under number 23, we see Direct Prime Ltd, meaning Bankefex is licensed and operates legally.

Bankefex - MISA

Thus, the firm conducts its activities legally and officially, while being under the control of regulatory bodies. A complete set of indicators of a safe brokerage intermediary.

Contacts Review

The legal address is provided and verified. There are several ways to contact Bankefex managers: phone, email, or online chat. The availability of online chat is quite convenient because it allows for immediate resolution of any issue or problem without the need for a phone call, which might even incur charges from the mobile operator. However, email hardly qualifies as a means of prompt communication. Therefore, online chat is a clear plus.

More Details

The last thing to add about Bankefex is its awards and prizes, which affirm the solidity and seriousness of the business, as well as its stable development and consistent growth. The firm received its first awards in 2021, totaling two, then five in 2022, and four in 2023. How many will there be in 2024? We will find out.

Pros and Cons

  • Official and legal operation.
  • Customer-oriented trading conditions.
  • Many opportunities for clients.
  • The broker has received several awards and prizes.
  • An experienced player in the brokerage service industry.
  • Modern platform.
  • Not found.

 

9.5 TOTAL SCORE

Bankefex Summary

Bankefex - favi

We have discovered what this platform represents. To summarize, Bankefex is an experienced broker with more than 10 awards and prizes, operating under regulator oversight. The service and conditions are suitable for any trader, even a newcomer who just learned about forex trading yesterday.


Website information content 10
Client Portal 9
Trading conditions 9
Trading platform 10
Deposit and withdrawal 9
Verification 10
Extra options 10
Licenses and guarantees 9
Work duration 9
Feedback 10

Frequently Asked Questions (FAQ)

What Does Bankefex Offer?

The company offers secure and profitable access to CFD trading using leverage. Traders are equipped with a modern platform and a variety of additional services.

How Much Money Should I Invest With Bankefex?

According to the account type description, a client needs to deposit at least $5,000 to start trading.

Is Bankefex Safe?

Yes, indeed. The check showed that the specified legal entity indeed exists and is under the control of the financial commission MISA. This means the operation is legal.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Eshley

    One of the best brokerage companies

    One of the best brokerage companies where I have ever traded. Before this, I worked with another firm where the conditions were much worse than at Bankefex. That’s why I started looking for a new broker and then came here, and I have no regrets. Here, spreads are 50% more favorable, and the speed of processing withdrawal requests is 2-3 times faster. The managers don’t bother me; I have friendly relations with them. The quality of service is very high. In short, I had a perfect trading journey with this company. Therefore, I strongly recommend exploring their offers and making the right choice.

    Reply
  2. Ronnie Coleman

    I finally started making a steady income

    My trading has become more stable and profitable with Bankefex. The best trading experience. IMHO, this firm can easily compete with the currently popular CFD platforms.
    I never had problems with withdrawing money because the broker always processed my requests quickly and consistently. The platform always works perfectly; it does not lag or freeze. Technical problems seem non-existent for me here. Income increased from $200 to $1500 a month – is that a normal result? I think yes.

    Reply
  3. JIGJ2

    Happy with the cooperation

    Firstly, the company received a license. This is a sign of reliability. Secondly, they have been on the market for more than a year, so they have already built a reputation as a reliable intermediary. Thirdly, the awards speak for themselves. I am very glad that I opened a brokerage account here and would not go anywhere else for anything. I was lucky to get acquainted with bankefex.com because now I can safely trade and earn on Forex/CFD.

    Reply