Score

1.48 /10
Danger

Bright Finance

Marshall Islands

2-5 years

Suspicious Regulatory License

High potential risk

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Score

Regulatory Index0.00

Business Index6.80

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

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

Single Core

1G

40G

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Regulatory disclosure

Broker Information

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Company Name

CAPITAL LETTER GMBH

Company Abbreviation

Bright Finance

Platform registered country and region

Marshall Islands

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-09-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Bright Finance · Company summary

General Information & Regulation

Bright Finance is a Forex brokerage registered in the Marshall Islands registered under the name Capital Letter LTD. Furthermore, there is a second company which figures as an owner, registered in Germany under the name Capital Letter GmbH. Nonetheless, its safe to assume that BrightFinance, irrespective of its legitimacy, does not fall under any regulatory oversight whatsoever.

Market Instruments

BrightFinance advertise that it offers forex pairs, stocks and crypto coins to its traders.

Minimum Deposit

The minimum initial deposit offered by BrightFinance is $250. Although this amount is reasonable for most regular traders, given the fact that BrightFinance is not subject to any regulation, trader are not advised to register real trading accounts here.

Leverage

Trading leverage information is not provided. Since leverage can amplify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

BrightFinance says it spread on the EUR/USD pair is around 1 pips, which seems attractive. However, since BrightFinance is unregulated, it is unsafe to invest with this broker no matter what its trading conditions is.

Trading Platform Available

Bright Finance is offering some curious web based trading platform with charts taken directly from Trading View – an independent, charting web service with historical and real- time market data.

Deposit & Withdrawal

We were unable to uncover that the available payment metods are for potential clients of the brokerage. Usually in Forex trading traders may deposit or withdraw via the standard Visa and MasterCard, as well as bank wire and popular and preferred by traders e-wallets such as WebMoney, Skrill or Neteller.

User Reviews

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User comment

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Comments

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Lsy、
more than one year
Stay away from this broker by all means!! Do not fall into their low commissions or low spreads!! All of a sudden my trades started to incur slippage of about 1 pip when I open positions and 1 pip when I close positions and it occurs for every trade even when volatility is low. The most frustrating thing is, that my friend who also has an account with them doesn't have any slippage at all. So my only conclusion is that they mark some accounts so that those start incurring slippage.
Stay away from this broker by all means!! Do not fall into their low commissions or low spreads!! All of a sudden my trades started to incur slippage of about 1 pip when I open positions and 1 pip when I close positions and it occurs for every trade even when volatility is low. The most frustrating thing is, that my friend who also has an account with them doesn't have any slippage at all. So my only conclusion is that they mark some accounts so that those start incurring slippage.
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2023-02-17 17:42
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Yuri Chen
more than one year
Bright Finance provides no support at all when you want to withdraw money. I tried to make a withdrawal just to see how it works. The request was accepted but never processed further to the Pending or Approved stage.
Bright Finance provides no support at all when you want to withdraw money. I tried to make a withdrawal just to see how it works. The request was accepted but never processed further to the Pending or Approved stage.
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2022-12-14 14:25
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