BCM Begin Capital Markets – Cypriot Broker Under The Radar
BCM or Begin Capital Markets broker is one of those where EU traders trust their money. The official owner is BCM Begin Capital Markets CY Ltd with headquarters in Cyprus. Since 2015 they provide FX and CFD trading services worldwide.
Transparency and safety is the main priority of this broker. In general, that’s why traders trust them so much. But to find all pros and cons of this broker, read this BCM Begin Capital Markets review.
|Execution Type||Instant order execution|
|US Clients Accepted?||Not accepted|
|Islamic Account||Not available|
|Managed Accounts||Not available|
|Customer Support||Phone, E-mail, Online form|
Is Bcm Begin Capital Markets Legit? Regulation and Security
You never know if the broker is legit or not before you check their regulation. We have seen many brokers claiming to be regulated. Thus, the research says the complete opposite. On the positive side, BCM Begin Capital Markets trading company is fully regulated by the CySEC. Also, the Cypriot regulator is trusted among traders worldwide.
What makes this broker stand out is their fund’s protection measures. With negative balance protection and segregated clients’ funds, they become highly trusted. This leads to traders using their services comfortably. Especially knowing that they can’t get into debt. But even more importantly, that brokers can’t use their funds freely.
On top of all, this broker complies with MiFID and ESMA regulations. Even though this broker had to pay quite a huge fine for rules violations, they didn’t lose their reputation. Mistakes can happen to anyone. Even the best ones. But that’s a great example how a regulator can play a crucial role in clients protection.
Account Types at Bcm Begin Capital Markets
Unfortunately, BCM Begin Capital Markets broker doesn’t offer a demo account. Therefore, traders don’t have any option to test their services. However, with their regulations, there is nothing to be worried about. However, live trading accounts with this broker are not transparent as well. This might look like a shady offer, but it’s not.
Usually trading account types are designed to attract traders to deposit more money. Especially with non-regulated brokers that’s a cheesy tactic to extract more money. With BCM Begin Capital Markets every trader gets the same trading conditions. Of course, traders can use the money they deposited into their trading account.
Even though other sources claim that this broker has a demo, you must require access to it. With the MT5 trading platform that should be an available option. Generally speaking, the broker is not quite transparent in terms of deposits. Not even a minimum deposit requirement is available. On the one hand, that’s positive because you don’t have a minimum.
Therefore, you can trade micro. But on the other hand, if that’s not the case you are exposed to potential pressure. As a matter of fact, you should never allow yourself to decide under pressure. Take your time to do due diligence before investing any money.
Trading Platforms Overview
Trading platform plays a key role in choosing a broker. BCM Begin Capital Markets trading platform is a highly trusted Meta Trader 5. This is a leading software in the industry. Mainly because of all sorts of features it provides for traders. Whether you are a beginner or an experienced trader, it’s a perfect match. Additionally, it allows even non-experienced traders to be successful with its options.
As with many other regulated brokers, third-party software is a standard choice. With social trading, copy trading and algorithmic signals this became an industry number one. Also, the software is available on any device. Which makes it even more suitable for many traders. Especially ones that are not day traders.
As we can see from BCM Begin Capital Markets reviews, traders didn’t have issues with the platform. This is a good sign considering many suspicious brokers online these days. After all, that’s why we constantly recommend traders opt for a regulated broker.
On their trading platform, traders can choose various instruments. As with many brokers, this one offers
- Currency pairs (Forex) GBP/AUD, HKD/SGD, EUR/SEK
- Commodities natural gas, crude oil, silver
- Indices S&P 500, AU 200, Nikkei 225
- Shares Bank of America, Goldman Sachs, Netflix
- Cryptocurrencies BTC, ADA, LTC, XRM
- ETFs Russell 2000, QQQ
Bcm Begin Capital Markets Fees and Cost
BCM Begin Capital Markets broker doesn’t have a transparent trading cost. For traders, it’s important to know how much the broker takes for trading fees. But even more importantly for spreads and withdrawals. Because that’s the way how regulated brokers are making money.
Unfortunately, BCM Begin Capital Markets doesn’t reveal their commissions or spreads. But if you request a demo account you can quite easily determine if it’s suitable for you. Also, you can check other brokers like Libertex and Axiory to check what are their costs of trading.
Many trading instruments have high volatility. Especially Cryptocurrencies. That’s why it’s important to know what are spreads on such assets. Additionally, if you are not a day trader it can cost you heavily for leaving trades overnight. Generally speaking, all fees play a key role in choosing what and when to trade.
Deposits and Withdrawals
Legal documentation reveals that all BCM Begin Capital Markets withdrawal procedures are the same as with their other entities. Such companies are Capital Panda and Profit Level. All are registered with the same owner. But with all of them, the company claims not to have any withdrawal fees. This is positive, considering so many shady brokers making up non-existent fees.
Unfortunately, traders can only request a withdrawal to the bank account via wire transfers. On one side, that’s positive. But on the other, it can take a long time to process it. Especially if you have a low-tier bank account. Important to realize is that some brokers require additional documentation upon withdrawal request.
This is quite important due to AML laws that many brokers comply with. So, providing brokers with personal info is nothing new. The key point is not to accept withdrawals through unconventional ways. For example, cryptos. This way you are avoiding all regulations and you lose any kind of protection.
Also, with some companies traders experience non-existent fees or unexpected clauses. This mainly happens with non-regulated brokers that are misleading traders. Especially with bonuses. On the positive side, BCM Begin Capital Markets withdrawals are not limited to such unexpected rules.
BCM Begin Capital Markets company offers video educational material. This allows traders of all experiences to expand their knowledge. Whether you are a beginner, a pro or never traded before. Traders can learn all about fees, risks and trading terminology. But also trading strategies to implement into their trading career. However, not all companies bring the same conditions. Not even the same trading software.
Therefore, every company is unique for itself. After all, that’s why demo accounts are designed. To learn more about the broker and check their conditions. Above all, this company promotes demo accounts through its educational packages. However, we were unable to register. Not even for a live account. Therefore, upon filling out the registration form and contact with their agents you can request one.
Important to realize is that the broker who provides education must have a license. Where BCM Begin Capital Markets has one.
If you have any questions about your account or any problems, you can reach out to their support. However, on the company website, there are no transparent working hours. Although, there are only 3 ways to get in touch with their customer service.
You can contact them via:
- Phone number (Cyprus)
- Online contact form
With online chats available on every corner, these options look like old-school. Thus, they are quite effective anyway. But most of the time, you can request a broker to give you a call free of charge. Which is the cheapest and most suitable option.
In the era where support doesn’t reply to your messages, customer service became very important. That’s what makes a huge difference in choosing a broker. But even more importantly, staying with one. In general, that’s how traders check the legitimacy of any broker. Whether they are regulated or not. Because we have seen through reviews that some brokers don’t respond to their customers.
Bcm Begin Capital Markets Overall Summary
- Broker has CySEC regulation.
- There are numerous positive reviews available.
- BCM Begin Capital Markets broker has trusted MT5 software.
- Non-transparent trading conditions and minimum deposit requirement.
- The broker doesn’t have an account-type offer.
- Demo account availability is questionable.
- Leverage is according to regulations and ESMA rules.
- Non-transparent trading and withdrawal fees.
- A wide instrument range is available.
FAQs About Bcm Begin Capital Markets Broker
Is Bcm Begin Capital Markets a Regulated Broker?
Yes. The broker has trusted CySEC regulations since 2015 when they first registered.
How Do I Contact Bcm Begin Capital Markets Support?
BCM Begin Capital Markets support is reachable via phone, e-mail, and website contact form.
When Was Bcm Begin Capital Markets Founded?
BCM Capital Markets, one of the entities under BCM Capital Markets CY Ltd ownership started in 2015.
What Trading Accounts Are Available at Bcm Begin Capital Markets?
This trading company, surprisingly, doesn’t have a standardized offer for account types.
What Are Bcm Begin Capital Markets Fees?
Unfortunately, the company doesn’t reveal any trading or non-trading fees on its website.