BMFN – what we know and have as facts about it; The website www.bmfnvt.com is managed by BMFN Limited, which is registered and regulated by the VFSC under license number 40202. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
In the Client Agreement document, we found that BMFN is authorized to execute all orders with itself as counterparty or with such other counterparties as BMFN deems appropriate. Therefore, the company acts as a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about terribly slow executing of client orders, unjustified blocking of profitable accounts and cancellation of profit when attempting to withdraw it.
So far, we have not received any complaints from customers of BMFN. If you have any criticism to share with us or feel annoyed by BMFN, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and BMFN if you wish.