Benchmark Finance has been around for 20 years. The Bulgarian broker can also operate in other EU member states thanks to its MiFID passport.
If you’re unsure whether you should invest in this trading brokerage, then this review is for you. The Benchmark Finance Review will show you a few key facts about this broker.
Benchmark Finance is the trading name of the Bulgarian Benchmark Group. The brokerage was established in 2003 and is registered with Bulgaria’s FSC. On the regulator’s website, you can see that Benchmark Finance is also authorized to provide services in other EU states.
We checked the registers of the listed countries’ regulators and everything seems legit. Some sources point out that Benchmark Finance was also once registered with the UK’s FCA (reg. number 621564). However, this isn’t the case at the time of this writing.
To sum up, the Benchmark Finance regulation portfolio is great, the broker has a MiFID passport from the European Securities and Markets Authority (ESMA).
The only issue is that Benchmark Finance isn’t authorized by the FCA to operate in the UK. Benchmark Finance is also not eligible to provide trading services in the US.
Benchmark Finance has a MiFID passport and authorization to operate in several European states. The broker provides FX, CFD, and crypto trading services. However, Benchmark Finance isn’t authorized to operate in the US.
ESMA requires its regulators to implement strict rules for brokers. Namely, all brokerage companies must have a minimum operating capital of 730,000 EUR.
Their clients must be equipped with negative balance protection, get a segregated bank account, leverage restriction (1:30) and a compensation scheme of up to 20,000 EUR in case the broker goes insolvent. ESMA also banned brokers from issuing bonuses to clients.
We did some research to find out where Benchmark Finance was present. Aside from the aforementioned European countries, the broker was also active in the following:
As we mentioned, Benchmark Finance is not authorized to provide services in the US or in any of the countries from this list. These domains are far from Benchmark Finance’s home soil and different regulations apply to them.
Benchmark Finance offers MetaTrader 4 and MetaTrader 5. These two ingenious platforms were designed by MetaQuotes and represent a staple in the trading industry.
MT platforms come with a wide range of cutting-edge features. Traders can utilize automated trading, read live market reports, customize their user-friendly interface, choose from multiple timeframes, etc.
For its time, MT4 was the benchmark for trading software, no pun intended. It can only be rivaled by its successor, MT5.
Benchmark Finance offers licensed MT platforms, available for PC, Android, and iOS. There’s also a web-based version of both platforms on the broker’s website.
Here’s what Benchmark Finance offers in terms of trading instruments:
Trading costs, i.e. spreads & commissions, vary from asset to assist. Thus, we have a spread starting from 0.6 pips for FX major pairs, no commissions charged.
Oil trading costs 0.05 $ per lot (10 barrels) while gas trading costs 0.03 $ per lot (100 BTUs). The commission for stock trading is 0.05 $ per share.
The indices’ spread starts from 0.7 pips with no commissions. Lastly, cryptocurrency trading is commission-free.
Benchmark Finance only offers one live account. The minimum deposit requirement is just 1 $. Leverage caps at 1:30 (ESMA limit) for retail clients and at 1:400 for professional clients.
On the registration page, you get to choose which platform you want. Note, crypto trading is only available on MT5.
There’s also a free demo account available. Benchmark Finance included the desktop and web versions of MT5 for the primary demo account. There’s also an older version with MT4.
Clients get 100,000 $ in virtual funds with which they can practice. They also have 24/5 customer service at their disposal.
Benchmark Finance’s affiliate program promises hefty commissions for those who bring in new clients. Namely, the broker offers a one-time commission of 600 $ for a newly referred member. There are two commission models:
Just keep in mind that referral programs are often Ponzi schemes in disguise. Benchmark Finance is regulated but still, be careful.
Benchmark Finance included three funding options:
The Benchmark Finance withdrawal options are the same but without cards. Also, the broker doesn’t charge any deposit or withdrawal fees.
Payment information is pretty transparent but the disadvantage here is that Benchmark Finance didn’t include e-wallets such as Skrill or Neteller.
All in all, Benchmark Finance seems attractive. The most important fact is that the broker is regulated.
However, if Benchmark Finance violates any terms and conditions or if you’re experiencing withdrawal issues, please let us know.
If you want to get a refund but cannot for whatever reason, we can help you there. Global Fraud Protection’s experts specialize in bank chargebacks, recalls and crypto-tracing software such as CipherTrace.
If you’re having issues with this broker, contact us for help. Set up a free consultation with us. The easiest and fastest way to do it is via Online Chat.
Benchmark Finance is a regulated broker so you shouldn’t have problems if you invest in it. If any issues arise, please let us know.
Yes. Benchmark Finance included a free demo account for both MT platforms.
Yes. Both MT platforms are available for the Android and iOS operating systems.
Yes. Benchmark Finance segregates your funds in top banks such as UniCredit Bulbank or Raiffeisen Bank.
Benchmark Finance is a regulated broker so you shouldn’t have problems if you invest in it. If any issues arise, please let us know.
Yes. Benchmark Finance included a free demo account for both MT platforms.
Yes. Both MT platforms are available for the Android and iOS operating systems.
Yes. Benchmark Finance segregates your funds in top banks such as UniCredit Bulbank or Raiffeisen Bank.
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