TradeBifo has five types of live trading accounts with various minimum deposit requirements and offering various additional bonus features such as introductory courses, personalized service, educational materials and extras like trading signals and market analysis. There is also a free demo account.
The broker has a portfolio of forex pairs, precious metals and CFDs on a few stocks and binary options.
The Company. Security of Funds
Company Country Regulation
TradeBifo Ltd. Vanuatu VFSC
TradeBifo is owned by a company of the same name that is registered and regulated in the offshore zone Vanuatu. It appears the broker is mostly active in the Russian-speaking countries, but as a general rule we advise our readers to avoid offshore brokers.
Dealing with them is riskier than dealing with the ones supervised by serious regulators like UK’s FCA and the Australian Securities and Investment Commission (ASIC). They have strict requirements for their charges and this offers better client protection. We are not saying all offshore brokers are a scam, but the lax requirements in such zones attract many dishonest companies whose only goal is to take their clients’ money.
TraderBifo is a bit unconventional and does not offer the MetaTrader platforms. Instead it offers the UTIP trading platform.
Like the MetaTraders, UTIP is also developed by a Russian company and was launched in 2006. So far the company has expanded its offering and the platform includes web and mobile versions. It offers access to forex, CFDs, binary options, options, indices, metals and cryptocurrencies. UTIP supports multiple types of orders, technical analysis and charting tools, trading reports and many other options and features.
TradeBifo is offering several types of bonuses that can reach up to $1500 depending on the size of deposit and subject to terms and conditions.
TradeBifo accepts payments through bank transfer, credit and debit cards and the electronic payment systems OrangePay, SorexPay, WalletOne, Qiwi and OKPay.
TradeBifo is one of the tens of offshore forex brokers that operate on the Russian market without the local regulation of the Bank of Russia, which is still not mandatory anyways. The main attraction of TradeBifo is the unusually high leverage that can go up to 1:1000, which can also be risky, especially for the accounts with larger initial deposits.
On the other hand, the broker does not offer the MetaTraders, which could put off some potential clients, but either way the broker does not have the most attractive trading conditions.
TradeBifo Review Conclusion
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