‘Bogofinance’ is the brand name of Bogofinance S.A.L., a Lebanese financial institution regulated by the Central Bank of Lebanon under license No. 46.
The Lebanese company offers currency pairs, precious metals, indices and oil for trading.
There are four types of accounts, depending on the minimum deposit required. The first one is a Micro account. It requires USD100 to open and the minimum spread for the EUR/USD pair is 1.4 pips. The second one is a Classic account. You must deposit at least USD2,000 to open it and you will get spreads from 1.2 pips for majors. The third account is called Executive and requires a minimum amount of USD10,000 to open and you will get 1 pip for the EUR/USD spread. The last one is a Premium account. You must enter at least USD50,000 and in return the minimum spread you get will be 0.8 pips.
The company offers the well-known MetaTrader platform version 5. However, if you want to use some expert advisors (EAs), it is noted that you must request this additionally. When we tried to open an account, we were redirected to the webpage of FxJET that is owned by Bogofinance Capital Markets LTD and regulated by the Cyprus Securities Exchange Commission (CySEC) under license number 321/17. So, the legal documents are there and the company FxJET must comply with the strict requirements of the CySEC.
You can read our review for this brokerage company here