Does anyone know the BMFN (Boston Merchant Financial, Ltd.)? | Forex Factory

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Does anyone know the BMFN (Boston Merchant Financial, Ltd.)?

  • #1
  • First Post: Jun 3, 2011 3:36am Jun 3, 2011 3:36am
the websize is www.bmfn.com.Is it honest or a scamer broker?

in its websize:"BMF and its products and services offered on the site www.bmfn.com are NOT registered or regulated by any U.S., Canadian or Australian regulator, including FINRA, SEC, NFA, CFTC or ASIC. If you have received information indicating BMF is regulated within the U.S., Canada or Australia please contact [email protected] for clarification."
But at the foot of the websize:Affiliates of Boston Merchant Financial, Ltd.

Boston Merchant Financial Services, Inc. is located in the U.S. and is a member of FINRA and regulated by the U.S. Securities and Exchange Commission.
Boston Merchant Financial Pty Ltd is located in Australia and is regulated by the Australian Securities and Investment Commission.
BMFN EAD is located in Bulgaria and authorized by the Financial Supervision Commission.
Is it a contradiction that whether it is regulated by NFA or ASIC?

  • #2
  • Jun 3, 2011 6:58am Jun 3, 2011 6:58am
Have you first contacted them for clarification? What did they say?
  • #3
  • Jun 3, 2011 11:20am Jun 3, 2011 11:20am
I have a large account with them. I usually make big deposits (about 50K) when they offer promotions on deposits.
Their deposits and withdrawals are very quick( on the same day) and never have any problem with them.

They give 1: 200 margin.

The strategy I use is scalping.
  • #4
  • Jun 3, 2011 1:34pm Jun 3, 2011 1:34pm
hello ,
i have trade with BMFN in 1 year,but i cannot able to make the profit......,after that only i know bmfn is the market maker,they do not have stp or ecn platform,so plese do not open the trading account in BMFN,and spread will be not fixed,and so much of platform complaint i have complaint but not reply from them
  • #5
  • Jun 3, 2011 5:30pm Jun 3, 2011 5:30pm
It seems there is not livechat help.Is it regulated by NFA or ASIC?

Quoting forexwoman
I have a large account with them. I usually make big deposits (about 50K) when they offer promotions on deposits.
Their deposits and withdrawals are very quick( on the same day) and never have any problem with them.

They give 1: 200 margin.

The strategy I use is scalping.
  • #6
  • Jun 3, 2011 5:33pm Jun 3, 2011 5:33pm
I find it seems that it is not regulated by the NFA.
Quoting Marv
Have you first contacted them for clarification? What did they say?
  • #7
  • Jan 15, 2015 7:48pm Jan 15, 2015 7:48pm
Quoting therefor
It seems there is not livechat help.Is it regulated by NFA or ASIC? {quote}
any problem with BMFN, you can contact with me by skype or email, my email is :[email protected];my skype is:elvazhang1202. thanks~
  • #8
  • Jan 15, 2015 7:50pm Jan 15, 2015 7:50pm
Quoting therefor
It seems there is not livechat help.Is it regulated by NFA or ASIC? {quote}
We have get ASIC on 2011. anything about BMFN, you can contact wirth me by email;[email protected] . or skype: elvazhang1202
  • #9
  • Sep 17, 2017 12:01am Sep 17, 2017 12:01am
2017 update
scam
do not withdraw deposits
do not reply by e-mail after withdrawing request
  • #10
  • Sep 20, 2017 5:11am Sep 20, 2017 5:11am
BMFN is the biggest scam of all forex companies. The have stolen 70 k from my account. If you have funds with them please remove your funds as soon as possible. They do not reply to your email. I know a LOT of people whom BMFN has refused to refund their deposits.
  • #11
  • Sep 20, 2017 2:57pm Sep 20, 2017 2:57pm
Why not just go with tried and tested providers?
  • #12
  • Sep 20, 2017 4:20pm Sep 20, 2017 4:20pm
Quoting Phil1234
Why not just go with tried and tested providers?
http://bmfn.com.au/

Registered broker with ASIC Australia ..
  • #13
  • Sep 21, 2017 5:09am Sep 21, 2017 5:09am
Quoting lasty
{quote} http://bmfn.com.au/ Registered broker with ASIC Australia ..
Doesn't mean they're tried and tested.....

I trade from Perth and I've never heard of them...just saying.
  • #14
  • Last Post: Sep 23, 2017 3:55pm Sep 23, 2017 3:55pm
https://www.forexbrokerz.com/brokers/bmfn-review
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