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Do you want to know which is the better broker between BCR and FinMarket ?
In the table below, you can compare the features of BCR , FinMarket side by side to determine the best fit for your needs.
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XAUUSD:27.33
EURUSD: -6.82 ~ 2.29
XAUUSD: -37.66 ~ 18.83
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of bcr, finmarket lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
BCR | Basic Information |
Founded | 2008 |
Registered Country | British Virgin Islands |
Regulation | ASIC, FSC (Offshore) |
Tradable Assets | Forex, CFDs on metals, commodities, indices |
Account Types | Standard, Advantage, Alpha, and Affiliate |
Demo Account | ✔ |
Islamic Account | Not specified |
Maximum Leverage | 400:1 |
Spreads | From 3.0 pips |
Trading Platforms | MT4, MT5, WebTrader, MAM |
Minimum Deposit | $300 |
Payment Methods | Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, USDT |
Customer Support | 24/5 online chat, contact form, phone: +44 3300010590, email: info@thebcr.com, social media |
BCR is a forex broker that was established in 2008 under the company name BACERA CO PTY LTD. The broker is regulated by ASIC (Australian Securities and Investments Commission) and offshore regulated by FSC (Financial Services Commission).
Pros | Cons |
• Regulated by ASIC | • Offshore Regulation |
• Demo Account | • Limited Account Types |
• Commission-free | • Wide Spreads |
• Advanced MT4 Trading Platform | • No 24/7 Support |
• Various Market Research Tools |
• Regulation: BCR is regulated by ASIC (Australian Securities and Investments Commission), which provides a level of security and trustworthiness for traders.
• Demo Account: BCR provides a demo account, allowing traders to practice and test their trading strategies in a risk-free environment.
• Commission-free: BCR offers commission-free trading for all account types.
• Advanced Trading Platforms: BCR provides access to advanced MT4 trading platform, offering comprehensive charting tools, indicators, and automated trading capabilities.
• Market Research Tools: BCR offers various market research tools, including economic calendars and market live.
• Offshore Regulation: BCR claims to be regulated by FSC, but it is offshore.
• Limited Account Types: BCR only offers two account types, which could restrict options for traders with specific needs or preferences.
• Wide Spreads: BCR offers spreads from 3.0 pips, while the industry average spread is just 1.5 pips.
• No 24/7 Support: The availability of customer support might be limited outside of regular business hours, which could be inconvenient for traders in different time zones or those requiring immediate assistance.
BCR operates within a well-regulated framework, authorized and regulated by respected financial authorities, including the Australian Securities and Investments Commission (ASIC, No. 328794) and offshore regulated by the Financial Services Commission (FSC, No. SIBA/L/19/1122) in the Virgin Islands.
This regulatory oversight ensures that BCR complies with stringent financial regulations, industry standards, and best practices. The ASIC and FSC play a crucial role in monitoring and supervising Doo Prime's operations, ensuring that the broker maintains transparency, ethical practices.
Additionally, BCR's practice of keeping segregated client funds means that client money is kept separate from the company's own funds. This can offer an additional layer of security for traders, since in the event of a company bankruptcy, these funds would not be treated as recoverable assets by general creditors of the company. This practice is common among regulated brokers as it provides more protection for traders' investments.
Forex, CFDs on metals, commodities, indices... BCR allows clients to access 300+ trading markets. Therefore, both beginners and experienced traders can find what they want to trade on BCR.
Tradable Assets | Supported |
Forex | ✅ |
Commodities | ✅ |
Metals | ✅ |
Indices | ✅ |
Cryptocurrencies | ❌ |
Futures | ❌ |
Options | ❌ |
This includes prominent global forex currency pairs, allowing for trading in the foreign exchange market.
They also offer CFDs on metals, which may include precious metals like gold and silver, as well as industrial metals.
In addition, traders can access CFDs on commodities, from energy sources like oil and gas to agricultural products.
This is extended to indices, tracking performance of groups of shares in a particular market or sector.
However, cryptocurrencies are currently unavailable.
Apart from demo accopunts, BCR offers four live account types: Standard, Advantage, Alpha, and Affiliate. All account types provide leverage up to 400:1, a 50% stop-out level, micro-lot trading (0.01), and access to single stock CFDs, except for the Alpha account. The minimum deposit requirements range from $300 for the Standard and Advantage accounts to $3,000 for the Affiliate account. Spreads start from 1.2 pips for the Advantage account, with the Alpha account offering zero spreads. Additionally, the Advantage account charges a $3 commission per lot per side. The lot size per transaction is capped at 20 for all account types.
Here are four specific steps to open an account with BCR:
Step 1: Visit the BCR official website: Go to the BCR website using a web browser on your computer or mobile device. Navigate to the account opening section: Look for the “Join Now” button on the website on the homepage.
Step 2: Fill out the account application form: Click on the account opening button/link, and you will be directed to an online form. Provide the requested information, including your full name, contact details (such as phone number and email address), and password.
Step 3: Submit identification documents: As part of the account verification process, BCR may require you to provide identification documents. These documents may include a copy of your passport or national ID card, proof of address (such as a utility bill or bank statement), and any other documents requested by the broker.
Step 4: Review and agree to the terms and conditions: Before finalizing your account creation, carefully read through the terms and conditions provided by BCR. Make sure you understand and agree to all the terms before proceeding. If you have any questions or concerns, you can contact their customer support for clarification.
BCR provides traders with maximum levearge up to 400:1.
Leverage, in simple terms, is a tool that enables traders to control a larger position in the market with a smaller amount of capital. It can be a valuable tool for experienced traders who understand its risks and benefits. By using leverage, traders can potentially generate higher returns on their investments.
However, leverage is a double-edged sword. While it can enhance profits, it can also magnify losses. Traders should exercise caution and implement effective risk management strategies when utilizing leverage. It is crucial to have a thorough understanding of the market and the associated risks before engaging in leveraged trading.
Specifically, the commissions and spreads need to pay will differ for the various trading accounts traders have.
The Standard account offers a zero-commission trading environment, allowing traders to execute trades without incurring any additional charges. Spreads for the Standard account start from 8.0 pips.
For those seeking even tighter spreads, the Advantage account is available. With spreads starting from 3.0 pips and no commissions, this account offers enhanced trading conditions for traders looking to optimize their trading strategies and minimize their trading costs.
Spreads and commissions vary on the trading symbol, more details can be found in the screenshot below.
BCR provides traders with popular MT4 (MetaTrader4) and MT5 (MetaTrader5) platforms as well as a user-friendly Webtrader and MAM platform. Some other popular and user-friendly trading platforms like cTrader and TradingView are not supported.
Platforms | Supported |
MetaTrader 4 (MT4) | ✅ |
MetaTrader 5 (MT5) | ✅ |
WebTrader | ✅ |
MAM | ✅ |
cTrader | ❌ |
TradingView | ❌ |
BCR provides its customers with over 10 payment options. The options available for depositing and withdrawing funds include Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, and USDT.
In terms of withdrawal request processing, BCR operates a specific schedule. The cut-off time for processing on the same day is 10:00 AM. Requests submitted before this time will be processed on the same day, whereas requests submitted afterwards will not be processed until the following business day.
Additionally, BCR does not charge any fees for deposits or withdrawals. However, transactions between international banks might incur fees such as intermediary fees.
BCR also provides some trading tools and educational resources to help traders to gain a superb trading environment.
Their economic calendar is a must-have tool for traders, allowing them to stay informed about important economic events that have the potential to impact the markets. Identifying these events can help with planning trading strategies.
Their glossary is an excellent educational resource, especially for beginner traders. It provides definitions for numerous terms used in trading, helping traders become familiar with industry jargon.
Additionally, BCR offers a 'Market Live' feature, which provides real-time updates about market conditions and trends.
These tools, combined with their educational resources, assist traders in making informed decisions and understanding the complexity of the markets, which ultimately contributes towards a more efficient trading experience.
Language(s): English, Chinese, Vietnamese, Japanese, etc.
Service Time: 24/5
Live chat, contact form
Email: info@thebcr.com
Phone: +44 3300010590
Social Media: Facebook, Twitter, Instagram, LinkedIn
Address: BCR Co Pty Ltd, Trident Chambers, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands.
Is BCR Legit?
Yes. BCR operates legally and it is regulated by ASIC and offshore regulated by FSC.
What assets can I trade with BCR?
Forex and CFDs on metals, commodities, and indices.
Does BCR offer demo accounts?
Yes.
Does BCR offer industry leading MT4 & MT5?
Yes. It supports both MT4 and MT5.
Is BCR a good broker for beginners ?
Yes, given its stringent Australian regulation and its provision of demo accounts for novices to engage in risk-free trading, BCR could be an excellent option for beginners.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Aspect | Information |
Registered Country/Area | Cyprus |
Founded Year | 2015 |
Company Name | FinMarket |
Regulation | Unregulated (Suspicious Clone) |
Minimum Deposit | $250 (Mini Account) |
Maximum Leverage | Up to 1:500 |
Spreads | High spreads on Mini accounts |
Trading Platforms | MetaTrader 4 (MT4), WebTrader, In-House Mobile Platform |
Tradable Assets | Forex currency pairs, major indices, commodities, individual stocks, cryptocurrencies |
Account Types | Mini Account, Standard Account, VIP Account, Premium Account |
Demo Account | Available |
Islamic Account | Available |
Customer Support | Limited availability and slow response times |
Payment Methods | Credit transfer, wire transfer, Ecommpay |
Educational Tools | Information not provided |
FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. Despite claiming to be regulated by CySEC, the lack of proper regulation raises concerns about the safety of traders' funds and the transparency of their operations. Unfortunately, the website is currently down, which adds further doubts about the broker's legitimacy. The high spreads and commissions, along with the relatively high minimum initial deposit of $1000, make it an unattractive option for traders, especially beginners. Moreover, the limited account manager availability and the absence of an FAQ section demonstrate a lack of commitment to customer support. Overall, due to the unregulated status and the website's unavailability, FinMarket should be approached with extreme caution.
Suspicious Clone.
A “Suspicious Clone” in the context of financial services refers to an entity that mimics or imitates the appearance and branding of a legitimate and regulated company, often with the intent to deceive and defraud unsuspecting individuals. These clones use similar names, websites, and other identifying features to create the illusion of being a reputable and regulated entity, while in reality, they are operating without proper authorization and oversight.
In the case of FinMarket being labeled as a “Suspicious Clone,” it suggests that the broker claims to be regulated by CySEC but lacks the necessary authorization and compliance. Such suspicious clones can pose significant risks to investors and traders, as they may engage in fraudulent activities, mismanage funds, and potentially disappear without a trace. Traders should exercise extreme caution when dealing with suspicious clones and always conduct thorough research and due diligence before entrusting their funds to any financial service provider.
FinMarket offers a diverse array of market instruments, catering to traders' interests and allowing them to diversify their portfolios across different asset classes. The following table summarizes the market instruments along with some examples:
Market Instrument | Number of Assets | Examples |
Forex Currency Pairs | 30+ | EUR/USD, EUR/GBP, AUD/JPY, etc. |
Major Indices | Various | FTSE, S&P 500, NASDAQ, etc. |
Commodities | Various | Silver, Crude Oil, Gold, Coffee, etc. |
Individual Stocks | 160+ | Amazon, Netflix, Apple, etc. |
Cryptocurrencies | Various | Bitcoin, Ethereum, etc. |
Forex Currency Pairs:
FinMarket provides access to more than 30 forex currency pairs, including major pairs like EUR/USD, EUR/GBP, and AUD/JPY. These major pairs offer high liquidity and are widely traded in the global forex market.
Major Indices:
Traders can participate in the performance of major stock market indices, such as FTSE, S&P 500, and NASDAQ. These indices represent the overall performance of specific stock markets and sectors.
Commodities:
FinMarket offers various commodities for trading, including precious metals like Silver and Gold, energy resources like Crude Oil, and agricultural products like Coffee. Commodity trading allows traders to diversify their investment strategies.
Individual Stocks:
With over 160 individual stocks available as CFDs, traders can speculate on the price movements of well-known market holders like Amazon, Netflix, and Apple. This allows investors to gain exposure to individual companies without owning the underlying shares.
Cryptocurrencies:
For those interested in the cryptocurrency market, FinMarket offers access to various digital assets like Bitcoin, Ethereum, and more. Cryptocurrency trading allows traders to capitalize on the price movements of these digital currencies.
Despite offering a diverse array of market instruments, FinMarket's lack of proper regulation raises concerns about the safety and legitimacy of its offerings. Traders should exercise extreme caution when considering this broker due to the absence of regulatory oversight, which may expose investors to potential risks and fraudulent activities. Additionally, the website being down further adds to the suspicion surrounding the broker. While the range of assets offered, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, might seem attractive, the overall lack of regulation casts doubt on the broker's credibility and reliability. It is essential for traders to conduct thorough research and choose regulated brokers to safeguard their investments and trading experience.
FinMarket offers a range of trading accounts, but be warned, their account types may not be as attractive as they seem. Let's take a closer look at each account with a critical eye:
Mini Account:
Minimum Deposit: $250
Features: This account type may seem affordable, but don't be fooled. The demo account for practicing strategies is nothing special, and the 40% margin is quite restrictive. With only 24 Forex currency pairs and 10 commodities and indices for trading, you won't have a wide range of options. The leverage up to 1:500 might sound impressive, but it could lead to significant losses for inexperienced traders.
Standard Account:
Minimum Deposit: $1,000
Features: The demo account is available, but the 26 Forex currency pairs and 10 commodities and indices offered for trading are nothing extraordinary. The daily market news and SMS alerts may sound appealing, but they hardly compensate for the lack of variety in trading options. The dedicated account manager might not be as dedicated as you expect, and the Islamic account option is just a small gesture to attract a specific group of traders.
VIP Account:
Minimum Deposit: $10,000
Features: The high minimum deposit might make you think you're getting premium treatment, but don't be fooled. The additional features offered, such as 28 Forex currency pairs and a full range of commodities and indices, may not justify the steep price. Direct access to a trading manager might not be as beneficial as they claim, and the 30% margin is quite restrictive for experienced traders.
Premium Account:
Minimum Deposit: $100,000
Features: The hefty minimum deposit requirement might make you believe you're entering an exclusive club, but the reality might disappoint you. The in-depth analyst tips they promise are just a way to add some fluff to the account. The 25% margin is not as competitive as you'd expect, and the so-called deep liquidity might not be as deep as you hope.
Account Type | Minimum Deposit | Features |
Mini Account | $250 | - Demo account for practicing strategies<br> - 40% margin<br> - Trading options include 24 Forex currency pairs and 10 commodities and indices<br> - Leverage up to 1:500 |
Standard Account | $1,000 | - Demo account available<br> - Trading options include 26 Forex currency pairs and 10 commodities and indices<br> - Daily market news and SMS alerts<br> - Dedicated account manager<br> - Islamic account option |
VIP Account | $10,000 | - 28 Forex currency pairs and a full range of commodities and indices for trading<br> - Direct access to a trading manager<br> - 30% margin |
Premium Account | $100,000 | - In-depth analyst tips<br> - 25% margin<br> - Claims of deep liquidity |
In summary, FinMarket's account types might appear enticing at first glance, but upon closer inspection, they fail to deliver on their promises. The high minimum deposits, limited trading options, and questionable additional features make these accounts less appealing than they initially seem.
FinMarket boasts about offering “up to 1:500” leverage on their trading accounts. However, before you get too excited, let's take a closer look at the reality behind this high leverage claim.
While a leverage of 1:500 might seem like an attractive prospect, it comes with significant risks and drawbacks. High leverage can amplify both your potential profits and your potential losses. This means that even a small adverse price movement could wipe out a significant portion of your trading capital.
Inexperienced traders often get lured in by the promise of high leverage, thinking they can make huge profits with a small initial deposit. However, they fail to realize that it also exposes them to substantial risks.
Moreover, it's worth noting that regulatory authorities, like CySEC, which oversees FinMarket, have been tightening their rules regarding leverage. High leverage has been associated with increased client losses and is considered risky for retail traders. Many regulatory bodies now impose leverage caps to protect traders from excessive risk-taking.
So, while FinMarket might advertise high leverage as a way to attract traders, it's crucial to approach it with caution. Trading with such high leverage can be a recipe for disaster, especially for inexperienced traders who might not fully comprehend the risks involved.
In conclusion, the maximum trading leverage offered by FinMarket might sound appealing, but it's essential to remember that high leverage comes with substantial risks. It's crucial for traders to exercise caution and employ proper risk management strategies to protect their capital when trading with such high leverage.
Spreads and commissions at FinMarket vary depending on the type of trading account. However, upon closer examination, it becomes evident that the broker's offerings are less competitive than they claim to be.
Spreads:
FinMarket advertises “tight spreads” on their website, but in reality, the spreads they offer are quite high, especially on their Mini accounts. For the benchmark EUR/USD currency pair, the average spread exceeds 3.7 pips on Mini accounts. Such high spreads can significantly impact a trader's potential profits, making it challenging to trade cost-effectively.
Commissions:
In addition to spreads, FinMarket charges commissions on trades, further increasing the overall cost of trading. The commission rates vary depending on the type of account. For Mini accounts, the commission fee is $15.00 per trade.
Comparison to Competitors:
Compared to other reputable brokers in the market, FinMarket's trading costs are less favorable. Many competitors offer much lower spreads, often within the range of 1.0 to 1.5 pips for the EUR/USD pair, without charging additional commission fees.
Impact on Traders:
The high spreads and commission fees at FinMarket can hinder a trader's ability to profit consistently, particularly for those with smaller trading accounts. These unfavorable trading conditions may lead to significant losses and can discourage traders from achieving their financial goals.
In conclusion, despite claiming to provide tight spreads and varying commissions, FinMarket's trading conditions fall short compared to many other brokers in the industry. Traders seeking cost-effective and competitive trading experiences may find better options with brokers offering lower spreads and commission fees.
Deposit and withdrawal processes at FinMarket seem to be relatively straightforward, offering various methods for funding accounts and accessing funds. However, there are some considerations to keep in mind.
Deposit Options:
FinMarket provides several options for depositing funds into trading accounts. Traders can choose to deposit through credit transfer, wire transfer, or the electronic payment method Ecommpay. These options offer flexibility, allowing clients to select the most suitable method based on their preferences and location.
Minimum Deposit Requirements:
The broker does not impose any specific minimum deposit requirements. However, it's important to note that individual payment channels may have their own minimum deposit limits. Traders should verify the minimum deposit amount with their chosen payment method before initiating the transaction.
Withdrawal Process:
FinMarket generally processes withdrawals through the same method used for depositing funds. This is a standard practice among many brokers and helps ensure the security of transactions. Traders should be aware that withdrawal requests may take some time to process, depending on the payment method and the broker's internal procedures.
Fund Security:
FinMarket emphasizes the security of customer funds. The broker operates under the regulation of the Cyprus Securities Exchange Commission (CySEC), which requires adherence to strict guidelines for the protection of client funds. Furthermore, the use of SSL encryption ensures the safe transmission of personal and financial information during transactions.
Additional Considerations:
While the deposit and withdrawal processes themselves appear to be straightforward, traders should also consider the overall cost associated with funding their accounts and accessing their funds. This includes any fees charged by payment providers and potential currency conversion charges, especially for international clients.
In conclusion, FinMarket offers various deposit options and follows standard practices for processing withdrawals. However, traders should be aware of any minimum deposit requirements imposed by payment channels and carefully consider any associated costs to make informed decisions about funding their trading accounts and accessing their funds.
FinMarket provides its clients with multiple trading platforms, ensuring a diverse range of options to suit individual preferences and trading styles. The broker offers the following trading platforms:
MetaTrader 4 (MT4) Platform:
MetaTrader 4 is one of the most popular and widely used trading platforms in the industry. It offers a user-friendly interface and a comprehensive set of tools and features, making it suitable for both beginner and experienced traders. Traders can access advanced charting capabilities, a wide array of technical indicators, and various timeframes for market analysis. MT4 also supports automated trading through Expert Advisors (EAs), allowing traders to execute trades automatically based on predefined strategies. The platform is available for desktop (Windows, Linux, and MacOS), as well as mobile devices (iOS and Android), providing convenience and flexibility for traders who prefer to trade on the go.
In-House Web Trading Platform (WebTrader):
FinMarket has developed its own web-based trading platform known as WebTrader. This platform is accessible through any web browser without the need for downloading or installing additional software. WebTrader offers a user-friendly interface with one-click trading functionality, real-time market charts to monitor market trends, and social trading features. The platform caters to traders who prefer a hassle-free trading experience and wish to access their accounts from any internet-connected device.
In-House Mobile Trading Platform:
For traders who are constantly on the move, FinMarket offers a mobile trading platform compatible with both Android and iOS devices. This mobile app provides full access to trading accounts, enabling traders to execute trades, monitor positions, and access real-time market data from the palm of their hands. The mobile trading platform ensures that traders can stay updated and respond to market movements promptly, regardless of their location.
In summary, FinMarket provides a diverse selection of trading platforms to cater to the needs of different traders. The MetaTrader 4 platform offers advanced tools and analysis for experienced traders, while the in-house WebTrader platform appeals to those seeking simplicity and convenience. Additionally, the mobile trading platform ensures traders can stay connected to the markets at all times, making it a comprehensive offering for a range of trading preferences.
FinMarket's customer support has been a source of frustration for many traders, as it often fails to meet their expectations. The broker claims to provide reliable assistance, but in reality, reaching their customer support team can be a tedious and time-consuming process.
Phone Support: While FinMarket offers a phone support option, getting through to a support representative can be a daunting task. Traders often find themselves waiting on hold for extended periods, only to be met with unhelpful responses or transferred to different departments without any resolution.
Email Support: Traders who opt for email support are often left disappointed with the slow response times. It can take several days to receive a reply, and even then, the answers provided are often generic and fail to address the specific concerns raised by traders.
Live Chat: The live chat feature on FinMarket's website is advertised as a quick way to get assistance, but in reality, it is far from efficient. Traders report experiencing long wait times before connecting with a support agent, and when they do, the responses are often vague and unhelpful.
Web Contact Form: Submitting inquiries through the web contact form is no better, as traders rarely receive timely or satisfactory responses. It seems like the broker pays little attention to these contact forms, leaving traders feeling ignored and frustrated.
Overall, FinMarket's customer support is lackluster and inadequate. Traders have expressed their dissatisfaction with the slow response times, unhelpful answers, and overall lack of professionalism displayed by the support team. As a result, many traders feel let down by the broker's supposed commitment to providing reliable assistance.
FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. While it offers a diverse range of market instruments, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, the lack of proper regulation raises concerns about the safety of traders' funds and the legitimacy of its operations. The high spreads, varying commissions, and relatively high minimum initial deposit of $1000 make it unattractive, especially for beginners. The website's unavailability adds further doubts about the broker's credibility. The customer support is inadequate, with slow response times and unhelpful assistance.
Pros:
Offers a diverse array of market instruments.
Provides multiple trading platforms, including MetaTrader 4 (MT4).
Supports mobile trading for on-the-go access.
Cons:
Unregulated status raises concerns about fund safety and transparency.
High spreads and commissions impact profitability.
High minimum deposit requirements.
Inadequate customer support with slow response times and unhelpful answers.
Website unavailability adds to doubts about legitimacy.
Overall, due to the lack of regulation, high costs, and unsatisfactory customer support, FinMarket is not recommended for traders. It is essential to consider alternative, regulated brokers with better trading conditions and customer service for a more secure and reliable trading experience.
Q1: Is FinMarket a regulated broker?
A1: No, FinMarket is an unregulated broker, which raises concerns about the safety of traders' funds and the transparency of their operations.
Q2: What is the minimum initial deposit required to open an account with FinMarket?
A2: The minimum initial deposit for a Mini account is $250, while the VIP account requires a minimum deposit of $10,000.
Q3: Does FinMarket offer a demo account for practice?
A3: Yes, FinMarket provides a demo account for traders to practice their strategies before trading with real money.
Q4: What trading platforms does FinMarket offer?
A4: FinMarket offers MetaTrader 4 (MT4), a web-based platform (WebTrader), and a mobile trading platform for Android and iOS devices.
Q5: Is customer support readily available at FinMarket?
A5: FinMarket's customer support has been reported as inadequate, with slow response times and unhelpful assistance, making it a source of frustration for traders.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive bcr and finmarket are, we first considered common fees for standard accounts. On bcr, the average spread for the EUR/USD currency pair is 1.7+ pips, while on finmarket the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
bcr is regulated by ASIC,FSC. finmarket is regulated by CYSEC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
bcr provides trading platform including Affiliate,Alpha,Advantage,Standard and trading variety including --. finmarket provides trading platform including Silver Member,Gold Member,Platium Member,Diamond Member,Elite Member and trading variety including Forex Commodities Indices World Shares CryptoCurrencies.