Bossa FX review (2022) Review
Forex broker was established in 1995 in Poland. They are supervised by the Polish Financial Supervision Authority, and their clients’ funds are covered by the National Depository for the Securities compensation system. They have 24/5 customer service and numerous awards, one of which is the Best Polish Broker award from 2018. They offer a demo account and the minimum deposit is high. You may invest in currency pairs, stock indices, energy resources, metals, agricultural commodities and shares from the Polish stock exchange.
What can be traded
Investors trading in BOSSA has 85 CFD financial instruments at their disposal and you can trade currency pairs on the FOREX market. The CFD formula ensures no commission on transactions and guarantees the price of immediate orders execution. They offer:
- FOREX currency pairs (EURUSD, GBPUSD, USDCHF, USDJPY, EURCZK, USDCZK and many others);
- Precious metals (gold, silver, platinum, palladium);
- Stock indices (DJIA, S&P 500, DAX, EURO STOXX50, SMI);
- Commodities and crops (oil, copper, natural gas, wheat, soybeans, rice);
- Bonds (T-note, Bund);
- Currency indices (BOSSAEUR, BOSSAUSD and BOSSAPLN).
- CFD shares from the main Polish stock index WIG30
You can choose from two accounts. VIP and Standard. The Standard account is for anyone. From beginners to more experienced traders.
They are supervised by the Polish Financial Supervision Authority, and their clients’ funds are covered by the National Depository for the Securities compensation system. Bossa services have been appreciated and awarded many times by investors and the financial community.
Bossa demo account
One of the best educational tools is a demo account. It’s a pretend live broker account, with preloaded money and a real platform. You can gain skills, learn the content of a platform or just test your skills. Some demos are free and without expiration. The BossaFX broker offers an unlimited and free demo account. The registration is super easy to find. On the main page, you have the offer immediately.
You can find a clear table of what is free and what they charge for on their website. For example, to open or close an account they do not charge anything. Transfers of funds within BOSSA are also provided free of charge. The fees apply to statements of account history or transfers of funds to the client’s foreign bank account.
To register you need to fill in a short form. They need your name, surname, email address and telephone number. That was filled in a sec, then I clicked the download button, to download a demo account. I received a message in Polish, although I had the language switched to English.
Trading takes place on the BossaFX platform (MetaTrader 4). The platform contains advanced charts, a large number of technical indicators, tools, functions. The broker provides the MetaTrader 4 MultiTerminal platform, which allows you to manage multiple accounts simultaneously. Meta Trader BossaFX is a fast and reliable platform for both beginners and experienced investors. Available in the Desktop version as well as for mobile devices and tablets.
I only found a Czech or Polish website, which I had translated. No option, to go to an English website. The design of the website is simple, clean and organised. The colors they chose are green and white, it reminded me of some insurance websites or dentist websites. But it worked well. You can view a fee chart or download a pdf chart with all fees, which I found good. The main page had a menu in the top pane offering:
- News and analysis
- About us
In the Education bookmark, you can improve your theory thanks to the comprehensive BossaFX tutorial. The broker organizes seminars and webinars, which they archive so that clients can view them at any time. You will also find some educational articles on the broker’s website. In addition, new traders can get an e-book on forex trading as a gift. What is strange, at the bottom of the education page you have education topics, which I`d look for at the top of the page.
Bossa is active on Facebook, Twitter, YouTube and Linked In. The Facebook account is what I checked out first. It’s up to date, and they post news every day. In Polish. So not good for non-speakers. Twitter is updated with posts a couple of times a day, so more activity there. But still, in Polish, there is no option to change the language. YouTube is full of videos, by the look of it, it’s full of educational and news videos.
Advantages and disadvantages
By the end of this review, I still haven`t received an email or the next steps to actually register and try Bossa out. Everything is only in Polish or Czech. The website is clean and functional, although a few things are a bit strange. Like topics listed at the end of the page, there is no live chat, the only contact is via phone, FAQ or an online form. On the other hand, it’s one of the most important providers of investment services in Poland, it has received many awards and they are transparent about fees. Bossa has been classified as the best Polish broker by the Polish edition of Forbes magazine.
- The only language is Czech or Polish
- No live chat
- Registration invalid
- Regulation is weak
- Very good education support
- Good financial tools
- Many awards
Pros / Cons