BCM Begin Capital Markets Review: Are They Reliable?

BCM Begin Capital Markets is a company registered in Cyprus, 2 Filiou Zannetou, Ground Floor, Office 1, 3021 Limassol. They hold a Tier 1 license through a regulatory body named CySEC, license number 274/15. The company has been in business since 2015. Our BCM Begin Capital Markets Review has scrutinized all this information, and it all checks out clean.

Although all this information may seem reassuring and transparent enough, other parts of the website do not instill much confidence. There is no information about which account types this broker is offering, or how a client may find these accounts. The broker does not mention withdrawals or withdrawal conditions at all.

There is one more problem – BCM Begin Markets Capital has been charged with not complying with their license regulation by CySEC. They have settled the dispute after paying a fine in excess of 170,000€, after which they have been allowed to keep their license and continue providing trading services to their clients.

Before we go any further, we suggest reading our brokerage reviews on IC Markets and Blackwell Global.

BCM Begin Capital Markets Regulation

The broker is based in Cyprus and has a valid license for providing broker services that have been issued by CySEC. CySEC is one of the more strict regulatory bodies since Cyprus is a member state of the EU.

The European Union in general has very stringent trading conditions. There are multiple safety nets and security standards in place for any company that wishes to trade in any EU nation. The CySEC adheres to all the legal requirements that are outlined in the MiFID international agreement.

Here is what CySEC requires from brokers that trade in Cyprus:

• Starting balance of over 730,000€
• Investment insurance of 20,000€
• The maximum allowed leverage is 1:30
• This broker must provide segregated bank accounts
• The broker must provide negative balance protection
• No Bonuses
• MiFID-compliant transaction transparency

We must mention, however, that there was a legal dispute between CySEC and BCM Begin Capital Markets. CySEC has fined the company an excess of 170,000€ for infringing on the licensing conditions in 2021. The case was resolved, and BCM Begin Capital Markets were allowed to keep its license.

Account Types Offered

The lack of transparency with the broker makes it somewhat difficult to review their trading accounts. Unlike other regulated brokers, BCM Begin Capital Markets website lacks the option for the users to create and start using their accounts immediately. We can expect prolonged account creation and verification times thanks to this issue.

In the Terms and Conditions part of the website, a legal document that is very comprehensive, we found that an account is activated only after a client has already deposited some money. There is no information on what this amount may be, unfortunately. 

This tells us that the broker does not readily offer a demo account. Since there is no information about swap-free accounts, we can also assume that BCM Begin Capital Markets have not made special allowances for Islamic traders.

Trading Instruments Available

This broker does not advertise any trading instruments on its website. We had to default back to the Terms and Conditions to find out which instruments are available, and under which trading conditions.

Although this document is quite comprehensive, it doesn’t contain much information on which exact instruments are offered. Unfortunately, this means that it is very difficult for novices to wrap their head around the whole ordeal.

Here is a list of what we could find out about trading instruments:

• Forex CFDs include EURUSD, USDCAD, and GBPUSD, with a minimum spread of 2.5Pips
• Shares, Physical
• Shares CFDs are also available, with leverage of 1:5
• Cryptocurrency CFDs have a max leverage of 1:2 and include ETHUSD, XRPUSD
• ETF CFDs are available to trade and include UVXY and BTCE, with leverage of 1:5
• Indices CFDs are available for trade, with leverage of 1:20
• Commodities CFDs have a leverage of 1:10 and include Gold and Coffee

Trading Platforms Overview

We have encountered the same transparency problem with the trading platforms of BCM Begin Capital Markets. After doing some digging, we have managed to learn that this broker offers MT5 as their main trading platform.

This is very good news, as MT5 is one of the best if not the best trading programs in the industry. It has become somewhat of a trading standard thanks to the many features it offers. 

This software supports interactive charts, one-click trading, economic calendar, and much more, as well as the fastest market execution speed of any trading platform to date. For the new adopters, MT5 is also compatible with AI-assisted automated trading, as well as expert advisors and stop signals.

Funding Methods Available

Truth be told, we have hit a snag trying to find out which funding methods are accepted by this broker. The opacity of the company does not help at all in this regard. Usually, if the broker does not advertise funding methods on their website, you can clearly see which financial channels are available in the trading platform after you have created an account.

With the broker, even this is not possible, as we could not register an account with the broker, or download the MT5 trading application. We are aware that the same company that operates BCM Begin Capital Markets also operates 2 other broker websites: Capital Panda and Profit Level. We can expect similar funding methods between these 3 broker companies, but unfortunately, we have no conclusive information at this time.

Research and Education Offered

Unlike the other parts of the website, the Research and Education part of the BCM Begin Capital Markets website is very well-made, user-friendly, and very comprehensive. This leads us to believe that BCM Begin Capital Markets is oriented towards the study of online trading as a whole, and is not intended to primarily provide broker services to their clients.

When it comes to Education, this broker offers high-quality tutorial videos, as well as online articles that are divided into 3 main groups: Prior to Trading, Just Beginning, and Advanced. The courses tackle everything from basic terminology used, all the way to analyses and Social Trading. The Video section of the website contains excellent materials as well.

Customer Service

The broker does not have a dedicated part of the website for their customer support service. The broker does not even disclose during which working hours a client may reach the customer support agents.

You may easily enough find the company phone numbers, email, and mail addresses, as well as a contact form. There was no information on what response times you may expect. Unlike most of the regulated brokers today, the broker does not have a live chat support option.

BCM Begin Capital Markets Overall Summary

The broker is a tier 1 licensed broker that has a headquarters in Cyprus. This broker has been in the focal point of legal turmoil because they failed to adhere to the licensing conditions. The company was ordered to pay a fine of 170,000€ in order to keep its license.

When we take this into account, you may see why much of the website has become non-functional. There is no information on account types or funding methods. Information about trading instruments is difficult to access, as well as info on trading platforms. The education materials are very good, but the customer support is virtually nonexistent. The broker does not offer a demo or Shariah account.

FAQs About BCM Begin Capital Markets Broker