Beinmarkets
Abstract：Beinmarkets, a broker based in Kuwait, lacks proper regulation, raising concerns about the level of risk associated with engaging in financial activities with this broker. Be cautious and fully aware of the potential risks before considering any transactions or investments. Beinmarkets offers trading opportunities in major global indices, forex, shares, metals, oil, and cryptocurrencies. They provide two main types of trading accounts: ZERO COMMISSION and ECN accounts, each with sub-account options. The leverage offered is up to 1:500, and spreads and commissions vary depending on the account type. Beinmarkets supports various deposit and withdrawal methods, covering the associated fees. They offer the METATRADER MT4 MultiTerminal and multiple MT4 trading platforms for trading on different devices. The Multi-Account Manager (MAM) is available for traders with multiple accounts. Beinmarkets provides trading tools such as Trading Central, the MT4 Accelerator Pack, VPS Hosting, an Economi
| BeinmarketsReview Summary | |
| Founded | 2019 |
| Registered Country/Region | Kuwait |
| Regulation | No regulation |
| Market Instruments | Forex, Metals, Indices, Oil, Cryptocurrencies, Stocks |
| Demo Account | ✅ |
| Leverage | Not mentioned |
| Spread | From 0 pips |
| Trading Platform | MT4, MAM and MT5 |
| Min Deposit | $50 |
| Customer Support | Phone: (+965)222 88 314 |
| Email: einfo@beinmarkets.com | |
| Social Media: Facebook, Instagram, YouTube, Telegram | |
| Online Chat | |
| Kuwait City, Ali Al Salem Street, Pearl Tower l, sixth floor, office No.2 | |
Beinmarkets Information
Beinmarkets, a securities firm incorporated in Kuwait in 2019. It mainly provides trading instruments such as Forex, Metals, Indices, Oil, Cryptocurrencies and Stocks, and provides three trading platforms and four accounts for traders. It is currently unregulated and less secure.
Pros and Cons
| Pros | Cons |
| Starting from 0 commission | No regulation |
| Spread from 0 pips | |
| Three trading platforms are supported | |
| Many instruments can be traded |
Is Beinmarkets Legit?
It can be seen that the official website of Beinmarkets was registered in 2019, and it is now in an unregulated state, which has certain security risks.
What Can I Trade on Beinmarkets?
BENEFOREX can trade a wide range of indices such as the US Wall Street 30 and UK 100, major, minor and uncommon forex pairs, and stocks. In addition, there are metals such as gold and silver, and oil products such as WTI and Brent crude. Finally, it also offers cryptocurrency trading.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Oil | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| Bonds | ❌ |
| ETF | ❌ |
Account Types
There are four types of BENEFOREX accounts in two main categories.
The first category is ZERO COMMISSION, including Classic Account and Premium Account, with 0 commission and minimum spread starting from 1.2pips.
The other category is ECN, which also contains the Classic Account and the Premium Account, and provides the original spread, but the commission is at least $12.
The minimum deposit requirement for each account is $50 and the maximum is +$10,000.
| Account Types | Classic Account (ZERO COMMISSION) | Premium Account (ZERO COMMISSION) | Classic Account (ECN) | Premium Account (ECN) |
| Minimum Deposit | $50 | + $10,000 | $50 | + $10,000 |
| Spread | as low as 2 PIPs | as low as 1.2 PIPs | Raw | Raw |
| Commission | 0 | 0 | $20 | $12 |
| Account Currency | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP |
| Trading Platform | MT4/Webtrader/Multi Terminal | MT4/Webtrader/Multi Terminal | MT4 / Webtrader / Multi Terminal | MT4/Webtrader/Multi Terminal |
| Dedicated Account Executive | × | ✓ | × | ✓ |
| Trading Central Complete Suite of Tools | × | ✓ | × | ✓ |
| Live Market Updates | ✓ | ✓ | ✓ | ✓ |
| Access to Social Media Competitions | ✓ | ✓ | ✓ | ✓ |
| Trading on Steroids with MT4 Accelerator | × | ✓ | ✓ | ✓ |
Beinmarkets Fees
The ZERO COMMISSION account at Beinmarkets offers zero commission with a spread starting at 1pip.
ECN account 0 spread, commission from $8.
Trading Platform
BENEFOREX supports three trading platforms, MT4, MAM and MT5. You can choose to use it on the web, desktop or mobile as required.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web， Desktop, Mobile | Beginner |
| MAM | ✔ | Desktop | Beginner |
| MT5 | ✔ | Web， Desktop, Mobile | Skilled traders |
Deposit and Withdrawal
BENEFOREX provides the same types of money in and out: CREDIT/DEBIT CARDS, BANK WIRE, EWALLETS, CHEQUE, and CRYPTOCURRENCY. The types of currencies and fees they support vary. The minimum deposit required is $50.
| Options | Currencies | Fees |
| CREDIT / DEBIT CARDS(VISA / Mastercard) | AUD, CAD, CHF, EUR, GBP, HKD, LBP, NZD, SGD, USD | Covered by Beinmarkets |
| BANK WIRE | AED, AUD, CAD, CHF, DKK, EUR, GBP, HKD, HUF, JPY, LBP, MXN, NZD, PLN, SEK,SGD, THB, TRY, USD, ZAR | Covered by Beinmarkets |
| EWALLETS(NETELLER / Skrill / fasapay) | AUD, CAD, CHF, EUR, GBP,SGD, USD / CHF, EUR, GBP, USD / IDR, USD | Covered by Beinmarkets |
| CHEQUE | AUD, CAD, CHF, EUR, GBP, HKD, LBP, NZD, SGD, USD | Covered by Beinmarkets |
| CRYPTOCURRENCY | BTC | 1.8% |
Customer Service
Beinmarkets says it offers a 24/7 online service. In addition, it provides customer service by phone, email, social media and physical address.
| Contact Options | Details |
| Phone | (+965)222 88 314 |
| einfo@beinmarkets.com | |
| Social Media | Facebook, Instagram, YouTube, Telegram |
| Online Chat | ✅ |
| Website Language | English, Arabic |
| Physical Address | Kuwait City, Ali Al Salem Street, Pearl Tower l, sixth floor, office No.2 |
The Bottom Line
Speaking of the advantages of Beinmarkets, commissions and spreads start at 0, three trading platforms and many tradable instruments... None of this, however, is worth the impact of being unregulated. There are certain risks in this broker that traders need to pay attention to.
FAQs
How long does it take for the deposited funds to reach the account?
Online payments will take no more than a few hours, bank transfers may take up to 3 days locally, up to 7 days internationally, and personal checks will take approximately 5 days from the date of bank clearing.
Can I trade on a Beinmarkets demo account?
Yes, it provides you with a demo account.
Can I withdraw funds to someone else's account/credit card?
No. Funds can only be withdrawn to an account/credit card with the same name as the individual's Beinmarkets trading account.
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