Bfinance has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After since I retired last year with Bfinance I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Detailed reporting|Economic calendar
Cons: Minor UI glitches occasionally|No integrated tax optimization
Several red flags with Bfinance: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
After for about ten months with Bfinance, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Comprehensive tools|Wide product range|Smooth onboarding
Cons: Cannot customize dashboard fully
Bfinance changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: API access|Quick verification
Cons: Minimum deposit could be lower|Limited ETF selection
KYC with Bfinance is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Intuitive for beginners|Multi-device support
Cons: Wait times can be long during peak hours|Wish they had more educational resources