BankDirect FX has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +32 280.888.91, Australia: 1800 983 145
Addresses: Rue des Colonies 11 1000 Brussels Belgium This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.bdfx.com.
I wanted to transfer my portfolio from another broker to BankDirect FX. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Helpful community forum|Competitive fees|No hidden fees
Cons: No dark mode on mobile
I had a dispute with BankDirect FX and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Copy trading available|Responsive team|Real-time alerts|Good analytical tools
Cons: Limited ETF selection
What really bothers me about BankDirect FX is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them after reading several online reviews and I fell for the polished exterior. Never again.
Pros: Social trading features|Fast support response|Automated trading options
Cons: Help articles are sometimes vague
The onboarding at BankDirect FX was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Stable platform|Reliable uptime
Cons: No crypto staking|Research section could be deeper
BankDirect FX had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Clear documentation|Smooth onboarding|Excellent charting|Automated trading options
Cons: Spreads widen during volatile periods