Beinmarkets

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

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.

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.

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.

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.

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.

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.