BIC MARKETS-Some Important Points about This Broker

BIC MARKETS Information

B.I.C. Markets, part of B.I.C. Markets Co., Ltd. registered in Cambodia, it is a retail Forex and CFD broker established in 2017, which offers clients the opportunity to trade forex, metals and commodities through MetaTrader 4. Although it claims to be under the supervision of SERC, it is currently under the supervision of a suspected clone.

Pros and Cons

Is BIC MARKETS Legit?

What Can I Trade on BIC MARKETS?

B.I.C.Markets offers traders the opportunity to trade in the world's most liquid financial market. Gain exposure to the world's largest equity market with global index CFDS offered by B.I.C.Markets. You can also trade energy and metal products such as currency pairs against the US dollar or futures CFDS.

Account Types

The broker offers two types of accounts, namely ZERO Commission Account and PRO Account.

The ZERO Commission Account and PRO Account target different types of traders. The minimum deposit requirement of ZERO Commission Account is $100, the threshold is relatively low, and it has no commission requirement, which can reduce some costs for traders.

While PRO Account is more suitable for experienced traders, with a minimum deposit requirement of $5,000, this high threshold is not suitable for novices, as it offers a higher leverage ratio of 1:400 and relatively higher risk.

BIC MARKETS Fees

B.I.C. Markets says it provides traders with the tightest forex spreads available with zero commission. In the forex spread information provided by the broker, the minimum spread for EURUSD is 2.0 and the average spread is 2.1.

The minimum spread of other forex pairs is also 2.0, and the average spread remains between 2.1 and 2.4.

In addition, there are no commission requirements on either of the broker's accounts.

Trading Platform

Deposit and Withdrawal

B.I.C.Markets offers a total of six payment methods. In addition, it requires a minimum deposit of $100.

Customer Service

This broker does not provide 24/7 customer service. Traders can access customer service through phone, email, social media, and physical address.

The Bottom Line

B.I.C. Markets offers a modest number of account types and tradable products, although it supports MT4 and does not charge a commission. However, the abnormal state of regulation is a problem that can cause a “headache” for traders.

FAQs

Which regulatory authority is B.I.C. Markets regulated?

B.I.C. Markets claims to be regulated by SERC, but its license is suspected to be a clone, so it is not regulated properly.

Is BIC MARKETS good for beginners?

No, it's not for beginners. B.I.C. Markets is currently in a quasi-cloned regulatory state, which is very unsafe for beginners.

Does B.I.C. Markets charge commission?

No, B.I.C. Markets does not charge trading commissions.