BBMTrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-11-26 18:33

Abstract：BBM Trade is a CFD forex brokerage with a wide range of trading products. BBMTrade is said to be owned and operated by BullBearMarkets Ltd. – a company registered on the Marshall Islands with a contact address in the UK. It provides the MT4 trading platform. BBM Trade does not state any regulation on its website and this should not come as surprise since Marshall Islands is not exactly known for its iron-clad regulatory framework. The brokerage is registered offshore – Marshall Islands being among the most favorite locations for scammers – and as such, no compliance to regulatory standards is needed. All this constitutes a major security concern for potential clients of the broker.

　　General Information & Regulation

　　BBM Trade is a CFD forex brokerage with a wide range of trading products. BBMTrade is said to be owned and operated by BullBearMarkets Ltd. – a company registered on the Marshall Islands with a contact address in the UK. It provides the MT4 trading platform. BBM Trade does not state any regulation on its website and this should not come as surprise since Marshall Islands is not exactly known for its iron-clad regulatory framework. The brokerage is registered offshore – Marshall Islands being among the most favorite locations for scammers – and as such, no compliance to regulatory standards is needed. All this constitutes a major security concern for potential clients of the broker.

　　Markets Instruments

　　BBMTrade offers a really good selection of trading instruments, including CFDs on stocks, indices and futures. With a demo account we counted some 49 forex pairs, crypto CFDs with coins including Bitcoin, Ripple, Ethereum, Litecoin, Dash and Bitcoin Cash, as well as CFDs on precious metals like gold, silver, platinum and palladium and commodities.

　　Minimum Deposit

　　Traders need at least 500 USD to open a trading account with BBMTrade and that is twice the average deposit most brokers ask for.

　　Leverage

　　Leverage of up to 1:500 as offered by BBMTrade is more than enough to accommodate even the most aggressive trading strategy. And while higher leverage might help you score good profit with a relatively small deposit, it also comes with a higher risk of depleting your funds with the slightest fluctuation of the market.

　　Spreads & Commissions

　　As tested with a demo account the benchmark EURUSD spread fluctuated between 2,4 pips and 2,6 pips, which is way above the levels, considered acceptable with a standard account. Keep in mind that starting spreads above 1,5 pips are uncompetitive even without a commission

　　Trading Platform Available

　　BBMTrade supports the MetaTrader4 platform and that is definitely a good news. With its intuitive interface and excellent charting tools, MT$ is a platform of choice for professional and beginner traders alike.

　　Deposit& Withdrawal

　　Apart from traditional payment methods like wire transfer and credit cards, you can make a deposit at BBMTrade with e-wallets such as Neteller and Skrill.