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Beinmarkets

WikiFX | 2024-10-11 15:20

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
Email	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.

Broker Dealer Forex trading Forex Chart

Related broker

No Regulation

bein markets

Company name：ROYAL ETP LLC

Score

1.43

Website：https://beinmarkets.com/

2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.43

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