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Belfrics Prime

Malaysia|1-2 years|
Straight Through Processing(STP)|Suspicious Scope of Business|Medium potential risk|

https://belfricsprime.com/

Website

Rating Index

Contact

+60 3-2181 2525
support@belfricsprime.com
https://belfricsprime.com/
Level 8, Tower 3, KL Trillion 338, Jalan Tun Razak 50400 Kuala Lumpur, Malaysia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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WikiFX Risk Alerts
Previous Detection : 2024-05-18
  • The current information shows that this broker does not have a trading software. Please be aware!

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Belfrics Prime · Company Summary

Aspect Information
Registered Country/Area Malaysia
Founded Year Within 1 year
Company Name Belfrics Prime
Regulation Suspicious Clone
Minimum Deposit $100
Maximum Leverage Forex and CFDs: Up to 100:1, Cryptocurrencies: Up to 50:1
Spreads Starting from 0.1 pips
Trading Platforms MetaTrader 5, SYOB (Start Your Own Brokerage)
Tradable Assets Forex, Crypto CFDs, Commodities, Equities, Indices, Metals, ETFs, Energies
Account Types Single account type
Demo Account N/A
Islamic Account N/A
Customer Support Email: support@belfricsprime.com, Phone: +60 3-2181 2525, Address: Level 8, Tower 3, KL Trillion, 338 Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia
Payment Methods Deposit varies (e.g., bank transfer is free, credit/debit card incurs a 2.5% fee), Withdrawal varies (e.g., bank transfer is free, credit/debit card incurs a 3.5% fee)
Educational Tools N/A

Overview of Belfrics Prime

Belfrics Prime is an unregulated financial platform based in Malaysia that raises concerns about its legitimacy. Despite claiming to be regulated by MalaysiaLFSA, there are suspicions that this regulation may be a clone and lacks validity. Furthermore, Belfrics Prime does not offer a trading software, which poses risks for potential clients considering any involvement with this institution.

In terms of market instruments, Belfrics Prime provides access to various financial assets, including over 50 currency pairs in the Forex market, more than 10 cryptocurrencies for Crypto CFDs, over 2,000 commodity assets, more than 2,000 stocks, 35+ indices, over 15 metal commodities, and 5 or more Exchange-Traded Funds. While this offers a wide range of options, the lack of regulation and trading software raises concerns about the security and reliability of trading on this platform.

Belfrics Prime offers a single account type, straightforward leverage options (up to 100:1 on Forex and CFDs, and up to 50:1 on cryptocurrencies), spreads starting from 0.1 pips, and a minimum deposit of $100. The platform supports both fiat currencies and cryptocurrencies for deposits and withdrawals, with varying fees depending on the chosen payment method. While they offer the MetaTrader 5 trading platform and a 'Start Your Own Brokerage' service, the absence of educational tools and the unregulated status of the platform may deter potential users. Additionally, Belfrics Prime's customer support is available through email and phone, with a global presence, but there is limited information about their educational resources.

basic-info

Pros and Cons

Belfrics Prime presents a diverse array of market instruments and offers low spreads starting from 0.1 pips, making it an attractive choice for traders. However, its regulatory status raises concerns as it lacks valid regulation. The platform provides leverage of up to 100:1 on Forex and CFDs but may impose unspecified monthly fees. While it allows deposits and withdrawals in both fiat and cryptocurrencies, fees vary depending on the payment method. Belfrics Prime offers the MetaTrader 5 trading platform and multiple contact channels for customer support, yet it lacks educational tools for traders.

Pros Cons
Offers a wide range of market instruments. Regulatory status is questionable, lacking valid regulation.
Low spreads starting from 0.1 pips. No specific account variations available.
Offers leverage up to 100:1 on Forex and CFDs. Monthly fees may be imposed, but the amount is unspecified.
Allows deposit and withdrawal in fiat and cryptocurrencies. Deposit and withdrawal fees vary based on payment method.
Provides MetaTrader 5 trading platform. Lack of educational tools for traders.
Multiple contact channels for customer support.

Is Belfrics Prime Legit?

Belfrics Prime is not currently regulated by any valid financial regulatory authority. It claims to be regulated by MalaysiaLFSA (License No. MB/18/0022), but this regulation is suspected to be a clone and is not considered valid. Furthermore, the broker does not have a trading software. Therefore, potential clients should exercise caution and be aware of the associated risks when considering any dealings with this institution.

regulation

Market Instruments

Forex: Belfrics Prime offers an extensive selection of more than 50 currency pairs in the Forex market. These pairs encompass major currencies like EUR/USD, GBP/JPY, and USD/JPY, as well as exotic options such as USD/TRY and EUR/TRY. This diversity allows traders to engage in currency trading across various global markets.

Crypto CFDs: For Crypto CFDs, Belfrics Prime provides access to over 10 cryptocurrencies. Prominent examples of these digital assets include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). Traders can participate in the dynamic world of digital assets and harness their price volatility.

Commodities: Belfrics Prime's Commodities market offers an extensive selection of over 2,000 commodity assets. Traders can explore a wide range of commodities, including precious metals like gold and silver, energy commodities such as crude oil and natural gas, agricultural products like wheat and corn, as well as various others like coffee and cotton, providing a comprehensive array of options.

Equities: In the Equities market, Belfrics Prime provides access to more than 2,000 stocks from global markets. These encompass well-known companies such as Apple, Amazon, Microsoft, Alphabet (Google), and Tesla. Traders can build diversified portfolios with exposure to global stock markets.

Indices: Belfrics Prime's Indices market includes a diverse range of more than 35 indices. Some notable examples include the S&P 500, FTSE 100, NASDAQ 100, Nikkei 225, and DAX 30. Traders can track and trade the performance of various global markets using these indices.

Metals: In the Metals category, Belfrics Prime offers access to over 15 metal commodities. This includes not only traditional precious metals like gold and silver but also industrial metals like platinum, palladium, copper, aluminum, and others. Traders can diversify their investments within the metals market.

ETFs: Belfrics Prime's ETFs category presents a selection of 5 or more Exchange-Traded Funds. These ETFs cover various sectors and asset classes, allowing traders to invest in a range of assets, from stock indices to specific industries and themes, enhancing portfolio diversification.

Energies: The Energies market at Belfrics Prime facilitates trading in vital energy commodities, including crude oil and natural gas. These commodities play a significant role in the global economy, and traders can capitalize on their price movements to make informed trading decisions.

 market-instruments

Pros and Cons

Pros Cons
Extensive selection of market instruments. Specific advantages not mentioned.
Access to diverse cryptocurrencies and assets. Potential complexity due to the variety of options.
Enables diversified portfolios across global markets. Limited information on trading volume and market depth

Account Types

Belfrics Prime offers a single account type, which is straightforward and streamlined, catering to traders with no variations or tiered options.

Leverage

Belfrics Prime offers leverage of up to 100:1 on Forex and CFDs, and up to 50:1 on cryptocurrencies.

Spreads & Fees

Belfrics Prime offers spreads starting from as low as 0.1 pips. Additionally, the platform imposes a minimum monthly fee that can be as low as $100.

account-types

Minimum Deposit & Withdrawal

The minimum deposit amount is $100, and the minimum withdrawal amount is $50.

Deposit & Withdraw

Belfrics Prime allows users to deposit and withdraw using fiat currencies and cryptocurrencies. Deposit and withdrawal fees vary depending on the payment method used. For example, deposits made via bank transfer are free, while deposits made via credit or debit card incur a 2.5% fee. Withdrawals made via bank transfer are free, while withdrawals made via credit or debit card incur a 3.5% fee.

Pros and Cons

Pros Cons
Accepts both fiat currencies and cryptocurrencies. Deposit fees apply when using credit or debit cards (2.5% fee).
Bank transfer deposits and withdrawals are free of charge. Withdrawal fees incurred when using credit or debit cards (3.5% fee).
Fees may discourage users who prefer credit or debit card transactions.

Trading Platforms

METATRADER 5:

Belfrics Prime offers the MetaTrader 5 trading platform, a multifunctional tool that supports various asset classes and provides access to powerful trading features. With MetaTrader 5, traders can optimize their trading potential and enhance their financial strategies.

SYOB (Start Your Own Brokerage):

Belfrics Prime introduces the 'Start Your Own Brokerage' service (SYOB), providing a comprehensive solution for those looking to enter the financial world as brokers. This service offers advanced technology, robust liquidity, and continuous support to ensure the success of new brokerages, making it a valuable choice for aspiring financial entrepreneurs.

trading-platform

Pros and Cons

Pros Cons
Offers the MetaTrader 5 platform with various asset classes and powerful trading features. No specific information available on platform stability and reliability.
Introduces the 'Start Your Own Brokerage' service, catering to those interested in becoming brokers. Lack of details on potential costs or requirements for utilizing the SYOB service.
Provides access to advanced technology and robust liquidity for new brokerages. The overall user-friendliness and ease of use of the platforms are not mentioned.

Educational Tools

There is no specific information available on the Belfrics Prime website regarding their educational tools.

Customer Support

Belfrics Prime offers customer support through multiple channels, including email at support@belfricsprime.com and phone at +60 3-2181 2525. They have a global presence with branches in key cities worldwide, and you can find them at Level 8, Tower 3, KL Trillion, 338 Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia. For media inquiries, you can contact their PR team using the provided contact details.

customer-support

Conclusion

In conclusion, Belfrics Prime presents a mixed picture in terms of its offerings. On the positive side, it provides access to a wide range of market instruments, including Forex, Crypto CFDs, Commodities, Equities, Indices, Metals, ETFs, and Energies, allowing traders to diversify their portfolios. The single account type simplifies the registration process, and the leverage options are available for different asset classes. Moreover, the platform's spreads and fees seem low. However, the lack of proper regulatory oversight raises concerns about the legitimacy of Belfrics Prime, as it claims a regulatory affiliation that is questionable. Additionally, the absence of detailed information on educational tools is a drawback, potentially limiting the resources available for traders seeking to improve their skills. Therefore, potential clients should exercise caution and due diligence when considering Belfrics Prime for their trading activities.

FAQs

Q: What is the regulatory status of Belfrics Prime?

A: Belfrics Prime is not regulated by a valid financial authority, and its claimed MalaysiaLFSA regulation is suspected to be invalid.

Q: What trading instruments does Belfrics Prime offer?

A: Belfrics Prime offers Forex, Crypto CFDs, Commodities, Equities, Indices, Metals, ETFs, and Energies for trading.

Q: How many account types does Belfrics Prime offer?

A: Belfrics Prime offers a single streamlined account type with no variations.

Q: What is the leverage provided by Belfrics Prime?

A: Belfrics Prime offers leverage of up to 100:1 on Forex and CFDs, and up to 50:1 on cryptocurrencies.

Q: What are the minimum deposit and withdrawal amounts at Belfrics Prime?

A: The minimum deposit amount is $100, and the minimum withdrawal amount is $50.

Broker Information

Company Name

Belfrics Prime LTD

Company Abbreviation

Belfrics Prime

Regulatory Status

Regulated

Platform registered country and region

Malaysia

Company website
Phone of the company
  • +60 3-2181 2525

Twitter

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Facebook

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Instagram

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YouTube

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Company address
  • Level 8, Tower 3, KL Trillion 338, Jalan Tun Razak 50400 Kuala Lumpur, Malaysia

  • Unit Level 9F(2), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 F.T

Linkedin

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WhatsApp

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QQ

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WeChat

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Customer Service Email Address
  • support@belfricsprime.com

Company Summary

User Reviews

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Geeky
more than one year
Trading with Belfrics Prime? Now that was an eventful experience! Loved their sharp Tier 1 pricing, truly set the bar for a top-notch trading experience. But word of caution, their content seems more suited for professional or institutional clients, so new traders might wanna proceed with care.
2024-05-15 13:39
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LYM
more than one year
I got some beef with Belfrics Prime. The whole regulation thing is sus – they claim MalaysiaLFSA, but who knows? No educational tools got me feeling like they're keeping us in the dark. And what's up with those mystery monthly fees? They need to spill the tea. Too many unknowns and risks for my liking. With so many other options out there, I'd think twice before diving into the Belfrics Prime scene.
2023-12-06 11:05
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0
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 Una丶Daddy
more than one year
Yo, trading with Belfrics Prime has been lit! Their market options are off the charts – Forex, Crypto CFDs, you name it. The low-key spreads starting from 0.1 pips? Major win! Plus, I can cash in and out with both fiat and crypto. The MetaTrader 5 platform is the real MVP, and customer support is always on point. Trust, it's been a smooth ride, and I'd recommend it to my trading crew any day.
2023-12-05 14:02
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0
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Hayden White
more than one year
Let's talk about slippage. Now, I'm no newbie in this game, and I understand that slippage is a part and parcel of forex trading. But with IST Markets, it's like they've got this convenient little feature kicked into overdrive! They claim to offer high-speed trade execution, but let me tell you, it's as fast as a snail in a marathon.
2023-10-23 13:32
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0
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Jarrad
more than one year
Through this platform, I could manage my trades efficiently. It offered competitive spreads, making it an attractive platform for seasoned traders like myself. Yes, there is a monthly fee involved with Belfrics Prime, but honestly, for the kind of service and value I get in return, I find it worth every penny.
2023-10-13 17:13
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