Close Newsletter
South Africa newsletter
Signup for the newsletter and keep updated
about the best brokers and auto trading robots.
Exclusive promotion: get a free account

Get a free $10,000 demo account!

Your capital is at risk
Binary Options are prohibited in EEA

Binary Option Programs Award
Min. Deposit
Min. Investment
Regulated Broker

BeCFD Broker Review

  1. This broker is closed.

    Trade with IQ Option instead, the best regulated broker for South African traders!

    BeCFD was an unregulated, offshore broker that gave South African investors the chance to trade CFDs in forex, cryptocurrencies, stocks, commodities and indices.

    The company turned out to be a scam and closed. Their website is no longer operational, so you will not be able to find them anywhere online.

    Keep reading to find out why they closed. All the signs below are indications that a broker is a scam and should not be trusted – so make sure to keep an eye out for them in the future.

    No Account Types or Minimum Deposit

    BeCFD provided no information regarding account types on their website.

    Usually, all brokers have a section that lists the types of accounts available, along with the minimum deposit required and extra features each upgrade offers you.

    Not only did BeCFD have no account section, but they provided no information on the minimum deposit required to begin trading throughout their entire website. The most common amount to start trading is $250.

    Tip: At IQ Option, you can begin trading with only a $10 deposit!

    Trading Platform & Assets

    BeCFD has three trading platforms available, that each offered a different type of trading. South Africa investors could choose between the BeCFD web-based platform known as Tradersoft, the popular MetaTrader4 (MT4) platform or mobile trading.

    Each option is listed below.

    WebTrader – Tradersoft

    As the name suggests, the web trader is an entirely web-based platform. This means South African traders would not need to download or install anything onto their PC, laptop, tablet or mobile devices. Instead, they can access the BeCFD web-based platform directly through their BeCFD accounts. The only thing really needed is an internet connection and a BeCFD account.

    MetaTrader4 (MT4)

    MT4 is arguable the most popular trading platform worldwide. It has increased in popularity throughout the years due to its user-friendly interface and powerful trading tools. Usually, MT4 is considered to be a platform more for professional traders, but is commonly used by beginners as well.

    To begin trading with MT4, you will need to download it onto your desktop or download the app. It is available for both IOS and Android operating systems.

    Mobile Trading

    Mobile trading has become increasingly popular with South African traders. This is because it allows you to trade on-the-go, wherever you are. Why be limited to your computer screen when you can quickly open, close or check a trade at a break or on the bus stop while you’re waiting?

    The choice is ultimately up to each trader. BeCFD offered South African users all three options, which is common with most brokers.

    As for the available assets, each BeCFD platform had a variety of tradeable instruments available from all major markets such as forex, cryptocurrencies, commodities, stocks and indices. South African investors could trade with a leverage of 200:1 and a spread of 3 pips.

    Customer Support

    South African traders could reach the BeCFD customer support team by phone or email. There was no South African number provided, only a UK and German one – so only South African traders who can afford long distance calls would be able to contact BeCFD by phone.

    South African traders will not be able to contact BeCFD now because the company has closed and no longer accepts calls or emails.

    Company Info & Payment Methods

    BeCFD was owned by an offshore company in the Marshall Islands.

    Warning: South African traders should not trust unlicensed, offshore brokers because these companies are not checked by any regulatory agency and could get away with stealing your money.

    BeCFD no longer accepts any payment methods, because the company has closed. 

    Conclusion: BeCFD is a Scam

    BeCFD closed because it was discovered to a scam. South African traders should be very careful when it comes to unlicensed, offshore companies with vague websites. Most of these cases are fraudulent companies that are not to be trusted.

    Trade directly with IQ Option instead, an award-winning, regulated broker with a minimum deposit of only $10!

BeCFD articles