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Babel FX

Marshall Islands|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.babilfx.com

Website

Rating Index

Contact

info@babilfx.com
https://www.babilfx.com
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH969660, Marshall Islands

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-15
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Babel FX · WikiFX Survey

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Babel FX · Company Summary

Aspect Information
Registered Country/Area Marshall Islands
Founded Year 2-5 years
Company Name Babil Financial Investment Ltd
Regulation Unregulated
Minimum Deposit $250
Maximum Leverage Up to 100 times
Spreads Starting from 0.1 pips on major currency pairs
Trading Platforms MetaTrader 5
Tradable Assets Foreign currency pairs, Gold, Silver, Energy contracts, Stock indices, Agricultural commodities
Account Types Demo Account, eal Account
Demo Account Available for practicing
Islamic Account Not mentioned
Customer Support Email (info@babilfx.com), Phone (00902124443699), Physical address in Istanbul, Turkey
Payment Methods Not specified
Educational Tools Not mentioned

Overview of Babel FX

Babel FX, operated by Babil Financial Investment Ltd in the Marshall Islands, offers trading services in various financial instruments, including foreign currency pairs, gold, silver, energy contracts, stock indices, and agricultural commodities. They provide two account types: a demo account for practicing trading without real funds and a real trading account that offers access to global markets with consistent technical support. The platform, MetaTrader 5, supports technical and fundamental analysis, algorithmic trading, and mobile accessibility for trading on smartphones. Babel FX allows traders to leverage their positions up to a maximum of 100 times, and they offer spreads starting from 0.1 pips on major currency pairs. The minimum deposit required to open an account is $250, and deposit and withdrawal methods are available, although specific details are not provided. While Babel FX provides customer support through email and phone, information regarding support availability hours is not included. It's important to note that Babel FX operates without recognized regulatory oversight, so potential clients should exercise caution when considering its services.

basic-info

Pros and Cons

Babel FX presents several advantages, including a diverse range of trading products and the availability of both demo and real trading accounts, along with the utilization of the MetaTrader 5 platform for advanced trading. Additionally, the broker offers low spreads on major currency pairs and multiple customer support channels. However, it operates without recognized regulatory oversight, allowing for high leverage that can amplify losses, and lacks comprehensive information on commissions, support availability, and withdrawal procedures. Furthermore, Babel FX offers a limited selection of account types.

Pros Cons
Offers a variety of trading products. Operates without recognized regulatory oversight.
Provides both demo and real trading accounts. High leverage can amplify losses.
Utilizes the MetaTrader 5 platform. Lack of information on commissions.
Low spreads, starting from 0.1 pips on major currency pairs. Limited information on support availability.
Requires a minimum deposit of $250. Lack of detailed withdrawal procedures.
Offers multiple customer support channels. Limited types of account

Is Babel FX Legit?

Babel FX operates without any recognized regulatory oversight at present. Potential clients should exercise caution and consider the inherent risks associated with trading through an unregulated broker.

regulation

Market Instruments

Babel FX offers a range of trading products, including:

FOREIGN CURRENCY: Trade over 60 foreign currency pairs against the US dollar or other currencies, including the Russian ruble, Turkish lira, and Scandinavian currencies.

GOLD: Whether you are a beginner or a professional gold trader, Babel Financial Investment provides the opportunity to trade gold with leverage of up to 100 times.

SILVER: Trade silver through the MetaTrader 5 platform with a contract size of 5000 troy ounces and a 1% cut-out margin.

ENERGY CONTRACTS: Trade and track energy contracts from the MetaTrader 5 platform, including Texas crude, Brent crude, and natural gas futures contracts.

STOCK INDICES: Access global stock indices such as Nasdaq, Dow Jones, Standard & Poor's, the British FTSE index, and the German DAX index.

AGRICULTURAL COMMODITIES: Trade agricultural commodity contracts, including coca, sugar, and coffee, which have a long history in financial markets.

products

Pros and Cons

Pros Cons
Offers a wide range of foreign currency pairs. Lack of information on specific contract details.
Provides leverage for trading gold and silver. Limited information on margin requirements.
Access to global stock indices and energy contracts. Limited information on contract size and cut-out margin.
Offers trading in historical agricultural commodities. Lack of information on specific commodity contract terms.

Account Types

DEMO ACCOUNT:

Babel FX offers a demo account for traders interested in practicing without risking real funds. This account allows users to explore trading agricultural commodities, such as coffee, sugar, cotton, and cocoa, through futures contracts on the MetaTrader 5 platform. These commodities have historical significance and have been traded for centuries, making them a unique addition to the forex market.

REAL ACCOUNT:

Babel FX provides a real trading account for clients seeking access to global markets. This account enables trading in various currencies, metals, and futures contracts, operating 24/5 with consistent technical support. Users can enjoy convenient deposit and withdrawal options. Additionally, Babel FX's advanced trading platform offers a range of technical analysis indicators, including mobile accessibility for trading on smartphones.

Pros and Cons

Pros Cons
Demo account available for risk-free practice, including trading agricultural commodities with historical significance. Limited variety of account types.
Real trading account grants access to global markets, 24/5 operation, and convenient deposit/withdrawal options.

How to Open an Account

To open an account with Babel FX, follow these steps:

  1. Visit the Babel FX website.

  2. Click on “Open an Account”

    open-account
  3. Fill out the real account form with your personal details, including name, nationality, residence, contact information, and financial information.

    open-account
  4. Choose your account type, leverage size, and investment amount.

  5. Specify your trading style and level of experience.

  6. Upload any required documents for proof of identity and residence.

  7. Review your information for accuracy.

  8. Click “SEND” or the equivalent button to submit your application.

  9. Follow any additional instructions provided by Babel FX for account verification.

  10. Once your account is approved, you can start trading.

Leverage

Babel FX provides traders with the option of leveraging their positions up to a maximum of 100 times, allowing them to potentially amplify their gains or losses depending on market movements.

Spreads & Commissions

Babel FX offers spreads starting from 0.1 pips on major currency pairs and does not charge any commissions on trades. For example, the spread on EUR/USD is 0.1 pips, which means that you would need to pay 10 cents per standard lot (100,000 units) traded. This is one of the lowest spreads in the industry.

Minimum Deposit

Babel FX requires a minimum deposit of $250 to open an account.

Deposit & Withdraw

Babel FX offers various deposit methods, including direct bank transfers, with specific details available upon contact with the broker. For withdrawals, clients can either log in to the website to request a withdrawal or reach out to their support team for assistance. Detailed withdrawal procedures and amounts are not provided in the given information.

Pros and Cons

Pros Cons
Offers various deposit methods. Lack of detailed withdrawal procedures.
Allows clients to request withdrawals online or through customer support. Detailed withdrawal procedures and amounts are not provided.
Specific details available for deposit methods.

Trading Platforms

Babel FX offers the MetaTrader 5 trading platform, a versatile tool for trading various assets, including forex, stocks, futures, and CFDs. This platform provides advanced price analysis techniques, supports algorithmic trading applications, and offers copy trading. MetaTrader 5 features a trading system with support for different execution methods, multiple trading orders, and a wide range of technical indicators for in-depth analysis. Additionally, traders can access fundamental analysis tools, economic indicators, and live news broadcasts. The platform also supports algorithmic trading through Expert Advisors and offers virtual hosting for uninterrupted trading.

trading-platform

Pros and Cons

Pros Cons
Popular MT5 available No alternative platforms available
Advanced price analysis techniques available. Limited information on support availability.
Supports algorithmic trading and copy trading. Lack of detailed information on commissions.

Customer Support

Babel FX offers customer support through various channels, including email at info@babilfx.com and a contact phone number: 00902124443699. Additionally, they provide a physical address in Istanbul, Turkey, for in-person inquiries. Clients can reach out for assistance via email or phone for any queries or concerns. Specific details about the support's availability hours are not provided in the given information.

customer-support

Conclusion

In conclusion, Babel FX, operated by Babil Financial Investment Ltd in the Marshall Islands, presents potential clients with a mix of advantages and disadvantages. On the positive side, Babel FX offers a variety of trading products, including foreign currencies, gold, silver, energy contracts, stock indices, and agricultural commodities. They provide both demo and real trading accounts, as well as leverage of up to 100 times. The MetaTrader 5 trading platform offers advanced analysis tools and supports algorithmic trading. However, it's essential to note that Babel FX operates without recognized regulatory oversight, which raises concerns about client protection. Additionally, specific details about deposit and withdrawal methods are not provided, and customer support availability hours remain undisclosed, making it important for potential clients to exercise caution and consider the risks associated with trading through an unregulated broker.

FAQs

Q: What is Babel FX?

A: Babel FX is a company named Babil Financial Investment Ltd, located in the Marshall Islands, operating in the financial market for 2-5 years.

Q: Is Babel FX a legitimate broker?

A: Babel FX operates without recognized regulatory oversight. Traders should exercise caution due to the risks associated with trading through an unregulated broker.

Q: What trading instruments does Babel FX offer?

A: Babel FX offers foreign currency pairs, gold, silver, energy contracts, stock indices, and agricultural commodities for trading.

Q: What are the account types offered by Babel FX?

A: Babel FX provides a demo account for practice and a real account for global market access, offering various trading options.

Q: How do I open an account with Babel FX?

A: To open an account, visit the Babel FX website, complete the real account form, choose account settings, upload required documents, and follow approval instructions.

Q: What is the leverage offered by Babel FX?

A: Babel FX offers leverage of up to 100 times, allowing traders to amplify gains or losses.

Q: What are the spreads and commissions at Babel FX?

A: Babel FX offers spreads starting from 0.1 pips on major currency pairs and does not charge commissions on trades.

Q: What is the minimum deposit required by Babel FX?

A: Babel FX requires a minimum deposit of $250 to open an account.

Q: How can I deposit and withdraw funds with Babel FX?

A: Babel FX offers various deposit methods, and withdrawal details can be obtained by contacting their support team.

Q: What trading platform does Babel FX use?

A: Babel FX uses the MetaTrader 5 platform, which supports various assets, advanced analysis tools, algorithmic trading, and more.

Q: How can I contact Babel FX's customer support?

A: You can reach Babel FX's customer support via email at info@babilfx.com, a contact phone number, or by visiting their physical address in Istanbul, Turkey. Specific support hours are not provided.

Broker Information

Company Name

Babil Financial Investment Ltd

Abbreviation

Babel FX

Regulatory Status

No Regulation

Platform registered country and region

Marshall Islands

Company website
Phone of the company

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Company address
  • Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH969660, Marshall Islands

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Customer Service Email Address
  • info@babilfx.com

Company Summary

User Reviews

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David95223
more than one year
Imagine this, you've got your trade all planned out, the market conditions are just perfect, you're ready to make a move, and then, BAM, the Babel FX trading platform decides it's time for a midday siesta. Countless times, the platform would freeze, lag, or crash altogether, leaving me hanging in the middle of crucial trades. It's as if telling me, "Hey, you wanted a suspense thriller? Here it is!" Now, if you've reached the point where, by some miracle, you've managed to make a profit, might as well get ready for the second act of this comedy of errors— withdrawal problems. Not only was the process convoluted, it felt like waiting for the next Olympics to be announced. In one particular instance, I requested a withdrawal of my profits, and two weeks went by without any kind of response from them. By the time they did get back to me, the excuse was some vague nonsense about "technical difficulties." Funnily enough, depositing money was never subject to these technical disruptions!
2023-10-23 12:15
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BDSW
more than one year
Starting from as low spreads– a feature that indeed distinguishes Babel FX from the competition. Additionally, I must applaud the no-commission stance of Babel FX. The absence of commissions is a welcome rarity in the forex trading environment. However, not all experiences have been rosy. I have to acknowledge an area that needs improvement that is the withdrawal speed. There have been instances where the withdrawal process has proven to be a bit slower than I would prefer or than other brokers I have worked with.
2023-10-13 14:49
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