Bein Markets displays a lot of red flags. From false regulatory claims to lousy website presentation, nothing convinces us that we’re dealing with a credible broker.
Our in-depth Bein Markets review will show you everything. Ensure you read carefully and keep your money safe.
Bein Markets is a brand of Royal Etp LLC, incorporated in Saint Vincent and the Grenadines. However, the company claims to have its headquarters in Kuwait.
The official authority issuing Forex trading licenses in Kuwait is the Central Bank. And yet, Bein Markets’ regulation is nowhere to be found. Furthermore, SVG doesn’t license Forex brokers, so it’s a convenient location for business incorporation.
And, of course, the firm doesn’t comply with ESMA regarding leverage limit, allowing 1:500. It’s final proof CySEC or ASIC cannot authorize it since both limit leverage to 1:30.
Bein Markets is a brokerage claiming several regulations, including CySEC, ASIC, and VFSC. None of these can be confirmed.
We checked where the broker operates so that we can warn you to be cautious. It seems that the firm places the majority of ads in:
It doesn’t surprise us much since they claim to be legitimate Australian brokerage firms.
Bein Markets’ trading platform of choice is MT4. It’s incredible trading software, supported by various major companies.
You can customize it on any device according to your trading needs. What’s more, you can use advanced features, such as social trading and Expert Advisors. It’s suitable for in-depth market research and can help you find the best moment to enter and exit the trade. This is especially important with strategies like scalping and hedging.
MetaTrader 4 can be used through a web browser, in a form of a WebTrader. It’s a good option if you prefer to avoid app installation.
In addition to desktop, MT4 has dedicated mobile apps. You can use the app on Android or iOS and have the same features you have on the big screen. However, this is a more convenient solution.
After everything being said, we doubt you’re interested in trading with Bein Markets. However, here’s a list of trading instruments:
The Zero Commission account types show that the spread varies from 0.9 to 1.9 pips, depending on the account type.
On the other hand, ECN accounts have commissions varying from $9 to $17. Additional fees and swaps are not listed for any of the accounts.
Let’s review both Bein Markets account type groups and see which one suits you better:
Zero Commission:
ECN:
As you can tell, the minimum deposit remains the same. We already explained the difference in the spread and commissions, and there are no other visible differences.
Bein Markets Demo account is available through an MT4 terminal. You can test trading strategies and see if this broker is good for you.
However, you can also test MT4 directly on the MetaQuotes website without providing your details to an unregulated broker. If you do so, you can expect a dozen sales calls and people to convince you that you can make millions overnight.
We found a list of several payment options available for Bein Markets withdrawal:
These could easily be logos placed on the website without any particular purpose. However, we were unable to verify it. This is where regulated brokers come ahead. They must be transparent about trading terms and withdrawals.
If you lost your money to a Bein Markets scam, don’t be afraid to report it. Our chargeback experts will do whatever it takes to help you get your money back.
Share your story with Global Fraud Protection, and relax. You’re not alone!
Bein Markets is an unregulated trading brokerage. If you lose your money to this brand, let us know, and we may be able to assist you.
Yes, Bein Markets offers a mobile app for Android and iOS devices.
Since the broker is unregulated and has no compensation fund, your money is unsafe.
Bein Markets is an unregulated trading brokerage. If you lose your money to this brand, let us know, and we may be able to assist you.
Yes, Bein Markets offers a mobile app for Android and iOS devices.
Since the broker is unregulated and has no compensation fund, your money is unsafe.
The post Bein Markets Review 2023 – Can Bein Markets’ Regulatory Certifications be Trusted? appeared first on Global Fraud Protection.
