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BIC Markets

Cambodia|2-5 years|
Common Financial Service License|Suspicious Scope of Business|Suspicious Overrun|Medium potential risk|

https://www.bicmarkets.com.kh/

Website

Rating Index

Contact

+855 023-966 669
info@bicmarkets.com.kh
https://www.bicmarkets.com.kh/
អាគារលេខ 462, ផ្លូវមុនីវង្ស, សង្កាត់ទន្លេបាសាក់, ខណ្ឌចំការមន, រាជធានីភ្នំពេញ, ប្រទេសកម្ពុជា

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+855 023-966 669

Broker Information

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Company Name

BIC Markets

Company Abbreviation

BIC Markets

Platform registered country and region

Cambodia

Company website
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Warning: Low score, please stay away!
Previous Detection : 2024-06-25
  • This broker exceeds the business scope regulated by Cambodia SERC(license number: 011)SECC Common Financial License Non-Forex License. Please be aware of the risk!

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BIC Markets · Company Summary

BIC Markets Basic Information
Company Name BIC Markets
Founded 2018
Headquarters Cambodia
Regulations SERC(Exceeded)
Tradable Assets Forex, Metals, Energy, Indices
Account Types No commission account
Minimum Deposit $100
Maximum Leverage 1:100
Spreads Starting from 2 points
Commission None
Deposit Methods Bank wire, Credit/Debit card, Skrill, Neteller
Trading Platforms MetaTrader 4 (MT4)
Customer Support Phone: +855-023 966 669Email: info@bicmarkets.com.khFacebook: B.I.C Markets CambodiaOnline chat
Education Resources Market analysis, Seminars, Webinars, Trading contests
Bonus Offerings None

Overview of BIC Markets

BIC Markets, established in 2018 and headquartered in Cambodia, is a dynamic financial brokerage offering an array of trading opportunities in Forex, metals, energy, and indices. Known for its “no commission account” model, it aims to cater to a diverse client base with varying levels of trading experience. Despite its innovative approach and commitment to accessibility, with features like a minimum deposit of $100 and maximum leverage of 1:100, BIC Markets navigates challenges related to regulatory compliance. The firm operates under the oversight of the Cambodia Securities Exchange Commission (SERC), yet it has extended its business scope beyond what is permitted by its license, presenting a noteworthy risk factor for potential traders.

Overview of BIC Markets

Is BIC Markets Legit?

BIC Markets is regulated by the Cambodia Securities Exchange Commission (SERC) under the Common Financial License Non-Forex License with license number 011. Traders can have confidence in the oversight provided by the regulatory authority in Cambodia, ensuring adherence to established financial standards and investor protection measures.

Is BIC Markets Legit?

Pros and Cons

BIC Markets presents an attractive option for traders with its commission-free trading, variety of deposit options, and accessible minimum deposits. The provision of MetaTrader 4, along with a wide range of educational materials, supports both new and experienced traders in their investment journeys. Additionally, the broad array of customer support channels ensures that users have access to assistance when needed. However, the significant concern arises from the brokerage exceeding its regulated business scope as outlined by its SERC license, highlighting a critical risk factor. Furthermore, the absence of bonus offerings might detract from its appeal to certain traders looking for additional trading incentives. While BIC Markets offers several advantages, potential clients should carefully consider the implications of its regulatory exceedance before engaging in trading activities.

Pros Cons
  • No commission on trades
  • Exceeds regulated business scope
  • Supports a variety of deposit methods
  • Lack of bonus offerings
  • Accessible minimum deposit and flexible leverage
  • Offers MetaTrader 4 and comprehensive educational resources
  • Broad customer support options

Trading Instruments

BIC Markets provides a wide range of trading instruments, including Forex, metals, energy, and indices.

Here is a comparison table of trading instruments offered by different brokers:

Broker Forex Metals Crypto CFD Indexes Stocks ETFs
BIC Markets Yes Yes No No Yes No No
AMarkets Yes Yes No Yes Yes Yes No
Tickmill Yes Yes Yes Yes Yes Yes No
EXNESS Group Yes Yes Yes Yes Yes Yes No

Account Types

BIC Markets offers account types with no commission fees. Clients can open accounts with as little as $100 and enjoy trading without any markups. Additionally, accounts come with the option to trade with leverage up to 1:100 and access various trading instruments including Forex, metals, energy, and indices. The platform supports MetaTrader 4, WebTrader, and mobile trading, providing flexibility and convenience to traders.

Account Types

How to Open an Account

To open an account with BIC Markets, follow these steps.

  1. Visit the BIC Markets website. Look for the “Open Account” button on the homepage and click on it.

How to Open an Account
  1. Sign up on websites registration page.

How to Open an Account
  1. Receive your personal account login from an automated email

  2. Log in

  3. Proceed to deposit funds to your account

  4. Download the platform and start trading

Leverage

BIC Markets offers a maximum leverage of 1:100 for trading, allowing traders to amplify their potential profits or losses by up to 100 times their initial investment.

Here is a comparison table of maximum leverage offered by different brokers:

Broker BIC Markets Libertex IC Markets RoboForex
Maximum Leverage 1:100 1:30 1:500 1:2000

Spreads and Commissions

BIC Markets does not charge commissions on trades. Instead, it offers spreads starting from 2 points, which may vary depending on market conditions and the type of trading instrument being traded.

Deposit & Withdraw Methods

BIC Markets offers various deposit and withdrawal methods, including bank wire transfer, credit/debit cards, and online payment processors such as Skrill and Neteller.

Deposit & Withdraw Methods

Trading Platforms

BIC Markets offers the MetaTrader 4 (MT4) trading platform, providing traders with a user-friendly and feature-rich interface for executing trades.

Trading Platforms

Customer Support

BIC Markets offers customer support through various channels:

Phone: +855-023 966 669

Email: info@bicmarkets.com.kh

Facebook: B.I.C Markets Cambodia

Online chat support is also available for immediate assistance.

Educational Resources

BIC Markets provides a range of educational content, including expert market analysis, seminars, webinars, and trading contests, to inform and enhance the skills of traders in the financial markets.

Educational Resources

Conclusion

In conclusion, BIC Markets emerges as a brokerage with compelling features designed to attract a broad spectrum of traders through its no-commission accounts, diverse trading instruments, and a strong educational and support framework. Its commitment to accessibility, demonstrated by a low minimum deposit requirement and the use of the MetaTrader 4 platform, aligns with the needs of both novice and experienced traders. However, the critical concern regarding its regulatory compliance, specifically the exceedance of its licensed business scope, casts a shadow over its otherwise attractive offerings. This discrepancy underlines the importance of diligence and caution among potential clients, emphasizing the need for traders to weigh the benefits of BIC Markets' services against the potential risks associated with its regulatory status.

FAQs

Q: What trading platforms does BIC Markets offer?

A: BIC Markets offers the MetaTrader 4 (MT4) trading platform.

Q: How can I deposit funds into my BIC Markets account?

A: You can deposit funds via bank wire, credit/debit cards, Skrill, and Neteller.

Q: What is the minimum deposit required to open an account with BIC Markets?

A: The minimum deposit required to open an account is $100.

Q: Does BIC Markets offer educational resources for traders?

A: Yes, BIC Markets provides a range of educational resources including market analysis, seminars, webinars, and trading contests.

Q: Is BIC Markets regulated?

Yes, BIC Markets is regulated by the Cambodia Securities Exchange Commission (SERC). However, it's important to note that while it holds a regulatory status, there have been concerns regarding BIC Markets extending its services beyond the scope allowed by its license.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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FX1496037776
more than one year
A solid, trustworthy platform. Their MetaTrader 4 is super secure and provides loads of market intel. Loved their 30-day trial account, especially since I was just starting out.
2024-05-15 14:05
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Yuri2
more than one year
After they receive your money, they actually hold onto it for five days before allowing you to invest. I shouldn't have transferred my money to this brokerage firm, just like in the movies!
2024-03-15 10:17
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