Bcm Begin Capital Markets Review – Is It A Legit Broker?
Indeed, this broker is registered in Cyprus and operates with a valid license. Their official owner is BCM Begin Capital Markets CY Ltd with a license since 2015. Yet, does that make them trusted, we will see this in our Bcm Begin Capital Markets review.
Read carefully to realize that even regulated brokers can hide something.
|Broker status:||Regulated Broker|
|Owned by:||BCM Begin Capital Markets CY Ltd|
|Cryptocurrencies:||Yes – BCH, BNB, LTC|
|Types of Assets:||Forex, Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Does Bcm Begin Capital Markets Operate as a Regulated Broker?
This broker operates worldwide with CySEC license number 274/15. CySEC is known as a Tier 2 regulator with quite big requirements for brokerages. However, it can’t be compared with Tier 1 regulations such as FCA, ASIC and BaFin. Moreover, Bcm Begin Capital Markets trading company doesn’t have any of those licenses.
To point out, this broker was issued a huge fine in 2022 for regulation violations. They made a settlement for a 170.000 EUR fine. For example, if you get only $1 million you are in a huge profit. So, such a settlement is not a big deal.
Another strange fact is that this broker doesn’t have reviews anywhere. What other traders think about them might even be suppressed.
Bcm Begin Capital Markets Trading Software
As for trading software, this broker offers the most prestigious option. Which is Meta Trader 5. It provides everything that you need for a successful trading career. From advanced charting to automated trading.
Nobody would lack anything with MT5. Especially since it’s available as an app on all devices. Except for transparency, since this broke obviously had issues with its regulator. If it happens once, it doesn’t mean it won’t happen again. Therefore, think twice before investing your hard-earned money anywhere.
Bcm Begin Capital Markets’s Trading Assets and Instruments
Traders have an opportunity to trade with a range of instruments here. Whether you are looking for more volatile options or safe ones, you got it. Bcm Begin Capital Markets broker offers the following:
- Currency pairs (Forex) USD/AUD, EUR/HKD, AUD/NZD
- Commodities natural gas, brent oil WTI, gold
- Indices DAX 30, CAC 40, FTSE 100
- Shares Walt Disney, Bank of America, Bayer
- Cryptocurrencies BTC, BCH, BNB
But considering their previous rules violations, we wouldn’t be completely sure about investing here.
Bcm Begin Capital Markets Countries Of Service
Surprisingly, Bcm Begin Capital Markets broker only prevents Slovenian traders to join. Whereas anyone else is accepted. Even though they have a wide range of possibilities, they mainly target specific countries. Such as:
- Czech Republic
Many of these countries have very weak protection systems for their citizens. That’s why they are a good targeting group.
Types of Accounts Available With Bcm Begin Capital Markets
What’s another strange thing for a regulated broker is such anonymity about trading accounts. This broker doesn’t reveal any offerings on their website. The only thing that this broker advertises is trading academy. Surprisingly, we didn’t even see a registration button.
This might be a security measure not to get involved with an undercover. Traders get involved in trading companies like this through social media adverts. Obviously, that’s the only way. With this in mind, you know that this broker wisely chooses their clients. Not to mention that information about the minimum deposit is not available.
Can a Trader Use a Demo Account?
Another key point is a demo account. This broker doesn’t give an insight into their platform or trading conditions. Reasons for this could vary.
But quite often we could see this as a tactic not to reveal all of the flaws. This situation never happens with Tier 1 regulated brokers.
The Importance of Negative Balance Protection For Traders
This trading company provides traders with very important safety feature. Negative balance protection is designed to keep you away from debt.
That is required by regulators and very often a good decision. Yet, brokers that violate regulations are not favorable among traders. Because nothing stops them from repeating their actions.
Terms of Service for Bcm Begin Capital Markets
As for regulated brokers, such a mysterious presentation is not something attractive. The broker doesn’t reveal any funding policies. Another key point missing is the funding method.
The reason might be a surprising factor. Once you already decided to deposit funds here, it’s easier to pitch you for a less favorable method. For instance, cryptocurrency transfer.
Leverage, Spreads and Fees
The only thing we know about trading conditions is leverage. It needs to comply with ESMA rules. Therefore, the maximum allowed is 1:30. However, nothing more than that is available. Spreads are undisclosed, the same as trading fees and commissions. Not to mention rollovers and inactivity fees that can cost you a fortune sometimes.
The only way to find out what this broker really offers is through registration. But with such an anonymous approach, we wouldn’t recommend trusting your investments here.
What Should I Do If I Have Bcm Begin Capital Markets Problem?
Many broker problems are solvable with a regulator. As you can see CySEC approached the issue professionally and fined this broker. Yet, that doesn’t stop them from doing what they were doing.
Let us know first what is your experience with this broker. For whatever topic we have a fund recovery team to advise you on any steps. Especially if it’s regarding the funds Our experts can start a chargeback process already today.
Don’t wait until it’s too late. Get in touch now!
What Is Bcm Begin Capital Markets?
It’s a Cyprus-based CFD and Forex company operating since 2015 mostly in the Meditarenian area.
Is Bcm Begin Capital Markets a Regulated Broker?
Yes. They have a CySEC license, but they were fined for regulation violations in 2022.
Is Bcm Begin Capital Markets Available in the United States or the UK?
The broker doesn’t offer any services to clients from UK or US.
Does Bcm Begin Capital Markets Offer a Demo Account?
No. This is not a common situation with regulated brokers. Which makes it more suspicious.