Bright Finance (Brightfinance.co) is a forex brokerage allegedly located in Germany. In the review below, we take an in-depth look at the features Bright Finance allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made by Bright Finance to determine whether it is safe enough to trade with or if it is just one gigantic scam.
Table of Contents
Bright Finance Trading Platform
The site doesn’t support either of the MT4 or MT5 trading platform, they only support a web-based terminal, and they don’t make it clear what kind of forex instrument they offer.
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We found the website to be confusing and lacking relevant information to carry out a proper review.
Bright Finance Account Types
The website does not give information about the account type. They just give the minimum deposit required to trade with them.
The required minimum deposit is an acceptable industry sum of $250.
Bright Finance Deposit and Withdrawal Methods
We were unable to determine what payment options this broker supports. Normally, a broker would support the following payment options: Visa and MasterCard, American express, We Money, Skrill and Neteller and Western Union.
There was no mention of any withdrawal fees in the site. However, we warn against dealing, dealing with unsubstantiated brokerage as we never know if they won’t charge unexpected fees once the clients have deposited their funds.
Another risk is that might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is Bright Finance licensed?
This broker lists its address as Adolf-Kolping-Straße 16, 80336 München, Germany and then it claims to be registered and the Marshall Islands.
Brokerages in Germany have to be licensed by the local BaFin. After checking and running the name of the website and that of its parent company we couldn’t find anything pointing to it having a European license.
We don’t regard its claims of being registered in the Marshall Islands due to the slack and weak laws concerning regulations. The government does not even require for someone to be physically there in order to register a company. Such a loophole has made the Marshall Islands to become a top-destination for would-be scammers.
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with brightfinance.co as they don’t give any information concerning if they are a regulated broker.
Brightfinance.co is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.