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Belfrics Prime Spreads, leverage, minimum deposit Revealed

WikiFX | 2023-09-04 15:57

Abstract：Belfrics Prime, a platform registered in Malaysia, lacks valid financial regulatory authority oversight, with its claimed MalaysiaLFSA regulation being suspicious. It offers a range of market instruments, including Forex, Crypto CFDs, Commodities, Equities, Indices, Metals, ETFs, and Energies. The platform provides a single account type, offers leverage up to 100:1 for Forex and CFDs, and up to 50:1 for cryptocurrencies. Belfrics Prime offers spreads starting from 0.1 pips and imposes a minimum monthly fee as low as $100. The minimum deposit is $100, with varying withdrawal fees based on the method used. They utilize the MetaTrader 5 trading platform and offer a 'Start Your Own Brokerage' service. However, specific details about their educational tools are not available, and customer support is accessible via email and phone.

Aspect	Information
Registered Country/Area	Malaysia
Founded Year	Within 1 year
Company Name	Belfrics Prime
Regulation	Regulated by LFSA
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
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)

　　Overview of Belfrics Prime

　　Belfrics Prime is a regulated financial platform based in Malaysia t. 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.

　　Pros and Cons

Pros	Cons
Offers a wide range of market instruments.	Deposit and withdrawal fees vary based on payment method.
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.
Provides MetaTrader 5 trading platform.
Multiple contact channels for customer support.

　　Is Belfrics Prime Legit?

　　Belfrics Prime is regulated by LFSA in Malaysia.

　　Market Instruments

Instrument	Quantity
Forex	50+
Crypto CFDs	50+
Commodities	10+
Equities	2000+
Indices	35+
Metals	10+
ETFs	15+
Energies	5+

　　Account Types

　　Belfrics Prime offers a single account type, which is straightforward and streamlined.

　　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.

　　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 transferare 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.

　　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.

　　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.