BrokersView has reviewed that BESTONFX is an unregulated forex broker BESTONFX attempts to position itself as the "best Forex broker in Thailand", "most secure Forex broker in Thailand", and "a legitimate forex broker in the UK". It uses hyperbolic language to market itself, aiming to portray an image of legitimacy, reliability, and convenience. However, our findings indicate a different reality. This broker only provides an MSB registration with the Financial Crimes Enforcement Network (FINCEN) as proof of its legitimacy and security. However, it is crucial to note that the FinCEN serves as the financial intelligence unit of the United States, responsible for receiving, analyzing, and disseminating disclosures of financial information in order to combat money laundering and terrorism financing. This agency doesn't license or oversee the forex market. Furthermore, the MSB registration is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency. Therefore, in the context of online trading, an MSB registration does not carry the same weight as a license from a financial regulator in affirming this company's legitimacy. The MSB registration certificate lists its location as Hong Kong. However, we found no corresponding entries in the register of the Hong Kong Securities and Futures Commission (HKSFC). As for its claim of being a legitimate forex broker in the UK, our search in the database of the Financial Conduct Authority (FCA) yielded no matching results. Despite its claim of being the "best Thai forex broker", there is no company named "Beston" in the list of financial service providers of the Bank of Thailand. In essence, BESTONFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. BESTONFX appears to be a scam.

Should I trade on BESTONFX? Is BESTONFX reliable? No, BESTONFX is considered unreliable. It is an unlicensed forex broker.BESTONFX, self-proclaimed as the top and most secure Forex broker in Thailand and a legitimate UK broker, but the broker only offers an MSB registration with the U.S. Financial Crimes Enforcement Network (FinCEN) as evidence of its legitimacy. However, FinCEN, a financial intelligence unit, doesn't license or regulate the forex market, and an MSB registration doesn't equate to a financial regulator's license.Despite its Hong Kong location on the MSB certificate, there's no matching entry in the Hong Kong Securities and Futures Commission (HKSFC) register. Similarly, our search in the UK's Financial Conduct Authority (FCA) database and the Bank of Thailand's (BOT) list of financial service providers yielded no results for BESTONFX.Without regulatory oversight, BESTONFX's claims are not trustworthy. Individuals trading with this unregulated broker are exposed to fraud and identity theft. To have a safer trading experience, it is advised to steer clear of such unregulated brokers as BESTONFX and instead choose fully regulated ones with robust reputations. View Source

I feel I was scammed by BESTONFX. What should I do? Dear Investor, We understand how distressing and frustrating this situation can be. BESTONFX has been flagged by us as a scam due to the lack of necessary licenses or supervision. We urge you to report it to your local authorities. Meanwhile, we encourage you to file a complaint on our platform. Our dedicated team will thoroughly review your case and work diligently to help you find a possible solution. Lastly, we'd like to raise the alarm about recovery room scams, where unsolicited messages claim they can recover your money for a fee. In fact, these fraudsters intend to defraud you further by capitalizing on your urgency. View Source