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BIMFX24 Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-10 10:27

Abstract：BIMFX24 is a forex and CFD broker that offers a diverse range of trading instruments, including currency pairs, commodities, indices, and shares. The broker provides multiple account types to accommodate traders with varying experience levels and preferences. BIMFX24 offers spreads and commissions, allowing traders to manage their trading costs effectively.

BIMFX24Review Summary
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	No regulation
Market Instruments	Forex, Indices, Commodities and Share CFDs
Demo Account	Not mentioned
Leverage	Up to 1:400
Spread	Fix from 2
Trading Platform	BIMFX24 trading platform
Min Deposit	$500
Customer Support	Phone: +4 47448885131
	Email: support@bimfx24.com
	Physical Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, ST. VINCENT AND THE GRENADINESTrust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MARSHALLS ISLAND, MH 96960

BIMFX24 Information

　　BIMFX24 is a broker registered in Saint Vincent and the Grenadines and affiliated with BIM LLC. It mainly provides traders with trading opportunities for Forex, Indices, Commodities and Share CFDs, and there are 5 kinds of accounts to choose from. But the brokerage is unregulated and carries certain risks,

Pros and Cons

Pros	Cons
5 types of accounts	No regulation
	MT4/5 is not supported
	The deposit threshold is up to $500

Is BIMFX24 Legit?

　　BIMFX24 is an unregulated broker and its website is not accessible.

　　In addition, as early as 2021, the FCA had already issued a warning to the company, saying that it was operating illegally in the UK and providing financial services without authorisation.

What Can I Trade on BIMFX24?

　　BIMFX24 says it offers Forex, Indices, Commodities and Share CFDs to traders.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Shares	✔
Bonds	❌
ETF	❌

Account Types

　　BIMFX24 offers 5 types of trading accounts - Micro account, Standard Account, Silver account, Gold account and VIP account.

　　The entry threshold is high, and the minimum is $500.

　　Spreads have different requirements depending on the account and are subdivided into fixed point spreads and floating spreads. The minimum point difference can be up to 0.3 floating.

　　The specific maximum leverage is 1:400, and the risk is also large.

Account Types	MICRO	STANDARD	SILVER	GOLD	VIP
Deposit amount	$500-999	$1000-2499	$2500-9999	$10000-24999	$25000->
Trading Platform	FXTT Desktop, Webtrader and Mobile Trading	FXTT Desktop, Webtrader and Mobile Trading	FXTT, Webtrader and Mobile Trading	FXTT, Webtrader and Mobile Trading	FXTT, Webtrader and Mobile Trading
Spreads	Fix from 2	Fix from 2	Fix from 1/ Variable from 0.5	Fix from 0.7/ Variable from 0.5	Fix from 0.4/ Variable from 0.3
Spreads Type	fixed	fixed	fixed & Floating	fixed & Floating	fixed & Floating
Trader Rebate	ask for more info	ask for more info	ask for more info	ask for more info	ask for more info
Trading Instruments	Forex, Indices, Commodities and Share CFDs	Forex, Indices, Commodities and Share CFDs	Forex, Indices, Commodities and Share CFDs	Forex, Indices, Commodities and Share CFDs	Forex, Indices, Commodities and Share CFDs
Fifth Decimal	Yes	Yes	Yes	Yes	Yes
Max Leverage	1:400	1:400	1:400	Upon Request	Upon Request

BIMFX24 Fees

　　The BIMFX24 spreads are fixed and floating. The fixed point difference for each account ranges from 0.4 to 2. The floating spread ranges from 0.3 to 0.5.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
BIMFX24 trading platform	✔	Web	Beginner
MT4	❌
MT5	❌

Deposit and Withdrawal

　　BIMFX24's deposit and withdrawal methods appear to include payment via bank wire transfer and credit card. The minimum deposit requirement is $500.

Customer Service

　　BIMFX24 does not offer a 24/7 online service. The channels through which traders can get help from clients are telephone, email and physical address.

Contact Options	Details
Phone	+4 47448885131
Email	support@bimfx24.com
Physical Address	Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, ST. VINCENT AND THE GRENADINESTrust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MARSHALLS ISLAND, MH 96960

The Bottom Line

　　BimFX24 positions itself as an international Forex and CFD broker, offering traders a wide range of trading opportunities. However, it does not support the use of MT4/5, and is not regulated by financial regulators with strict standards, which is not reliable enough and too risky.