Bestec NFX

  • Name:Bestec NFX
  • Website:http://www.bestecnz.com/
  • Location:New Zealand
  • Found in:2010
  • Regulation Authority:FSPR (New Zealand)
Editorial Rating:
1.50
Accept US Traders:
No

BestecNZ.com

Bridging the gap between the individual retail client and the Forex market has been something that’s become much easier in recent years thanks to the growth of online broker like Bestec Networks Foreign Exchange. Founded in 2010 and online since 2011, BNFX has made its sole mission to give private investors the same trading conditions afforded to large corporations.

Through its link with the LMAX Exchange, BNFX has developed a “transparent, stable and neutral trading environment” for independent Forex traders. To ensure that its platform is fully secured BNFX has the full backing of the FMA and FSP, New Zealand's two financial regulatory bodies.

BestecNZ.com’s Special FX:

The standout feature of BNFX is its position in the market as an LMAX Exchange partner. Unlike other online Forex brokers that act through ECN and STP protocols, BNFX uses the LMAX Exchange which offers users the ability access the Forex market through a Multilateral Trading Facility (MTF).

Although trading currency through the MTF model is somewhat similar to ECN and STP, namely that it provides access to FX banks and liquidity providers, it differs in that it offers reduced trading costs. On top of this there are no mark-ups which mean tighter spreads and lower initial deposits, something novice traders will find particularly appealing.

The reason all this is possible is because an MTF platform offers neutral trading which means there are no double charges, i.e. the market price is the price a user pays and the site doesn’t manipulate the rates to make a profit.

The Essentials:

BNFX offers LMAX Exchange trading through MetaTrader 4, LMAX Web Trading and Multi Charts. With each of these options the user can access the Forex market through desktop, web and mobile software but whichever gateway a user chooses the following conditions will be in place:

Minimum deposits start at $100.

Leverage is offered up to 1:100 with a 1% Margin Requirement.

Scalping is both encouraged and allowed on this account.

Automated Algorithmic Trading (Expert Advisors) is permitted.

Hedging (locked positions) is also allowed which offers simplicity for multi-strategy traders.

Spreads run from 0.9 pips and there are no price manipulations or mark-ups.

Commission charges start from $2.50 per 100,000 currency units ($2.80 per 100,000 for MT4 Bridge).

Regular commission rebates equal to 10% of LMAX Exchange charges are given back to account holders.

The minimum trade size is 0.01 standard Lot.

Risk Disclosure: fxBrokerSearch.com will not be held liable for any financial loss or damage caused by users acting upon any information contained within this website, not limited to and including: all numerical data, quotes, charts and buy/sell signals. Moreover, please be advised that Forex trading is one of the most volatile investment forms in the world and all trades should be placed with full consideration of the risks and costs.

fxBrokerSearch.com does not support nor encourage the execution of any investments. Trading with a margin is high risk endeavour and not suitable for everyone, therefore, each investor should carefully consider all relevant trading conditions, such as experience, risk and cost, before taking part in any type of trading, including Forex.

While every effort has been made to ensure all our data is as accurate as possible, fxBrokerSearch.com cannot be held responsible for any prices that are not in line with real-time data. Indeed, the currency exchange market is constantly changing and all CFDs (stocks, indexes, futures) and Forex prices are set by market makers.

This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

Based on these conditions, fxBrokerSearch.com will not be held responsible for any losses incurred through trades conducted in light of data presented on this site.