Reported as a scam / unregulated
Why BoForex is on the register
BoForex claims that its operating entity BoForex Company LTD is a “fully licensed and regulated broker”. However, the only regulatory information it provides is a purported registration in Saint Vincent and the Grenadines. First, we were unable to locate any record of BoForex Company LTD in the official register of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. Second, even if such a registration existed, it would only confer International Business Company (IBC) status, which does not constitute a valid financial services or forex trading license. Therefore, BoForex’s claims about being fully licensed appear to be highly misleading, and possibly false. At worst, it may not even be legitimately registered as a company. BoForex appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.