Benchmark Finance Review: All About BenchMarkFx.co.uk

Benchmark is a broker that is a part of the Benchmark Group, a Bulgarian company that has been in the trading business since 2003. With Benchmark, you get the possibility to invest in Forex, stocks, shares, and cryptocurrencies. Since they are based in Bulgaria, they hold an official license for the Bulgarian regulator FSC. And to find out more about this well-regulated broker, read our Benchmark review, as we will give you all the needed information about them.

How Are You Protected at Benchmark Finance?

As we have mentioned, Benchmark is a part of the Bulgarian company Benchmark Group, which has been in business since 2003. They hold an official license from the financial regulatory of Bulgaria named FSC. 

Besides owning an FSC regulation, they also have licenses from CNMV, BaFIN, CONSOB, AMF, and KNF. Of course, we had to do our diligence and check if those statements are actually true.

Everything seems good and legit and also by the books. Some sources also pointed out that Benchmark Finance was also once registered with the UK’s FCA (reg. number 621564). However, this isn’t the case at the time of writing this review.

To sum it all up, the Benchmark Finance regulation portfolio is great, the broker has a passport under MiFiD from the European Securities and Markets Authority (ESMA), which allows them to offer services in the European Union. Additionally, if you would like to work with other good and regulated brokers, we suggest you try out the Trade Republic.

Benchmark Finance Deposits and Withdrawals 

On the Benchmark broker’s website, they have stated the following as their deposit methods: 

• Visa or Master credit or debit card
• Wire transfers 
• Funds transfer between accounts
  

As for the withdrawals, you can only do them by wire transfers and funds transfers between the accounts. It’s not available for the debit/credit cards. Additionally, the broker doesn’t charge any fees for the withdrawals and as they have stated, withdrawals are executed in less than 30 minutes after the request. Payment information is pretty transparent but the only disadvantage here is that Benchmark Finance didn’t include e-wallets such as Skrill or Neteller.

Trading Platforms Overview

Benchmark Finance offers both of the most amazing trading platforms,  MetaTrader4 and MetaTrader5. These two ingenious platforms were designed by MetaQuotes and represent a staple in the trading industry.

Both the MetaTrader4 and MetaTrader5 platforms come with a wide range of cutting-edge features and traders can utilize automated trading, read live market reports, customize their user-friendly interface, and choose from multiple timeframes.

MetaTrader4 and MetaTrader5 are both available for PC, Android, and iOS. That means that you can use these platforms on your desktop or you can even download the app and use it on your phone. All in all, great choice of platform.

Account Types Available at Benchmark Finance

When it comes to the trading account types available, Benchmark only offers one Real account but there is a variation if you want to use it with the MetaTarder4 or MetaTrader5 platform. And in the case of the leverage, it caps at 1:30 (ESMA limit) for retail clients and at 1:400 for professional clients.

Generally speaking, this is all by the rules set by ESMA, but we do have to say that we are a bit disappointed with the choice of account types. We also want to point out that the broker does offer a Demo account and users can test out both the MT4 and MT5 trading platforms before depositing the funds.

Benchmark Finance Trading Instrument

Here’s what Benchmark Finance offers in terms of trading instruments:

• Forex pairs – EUR/USD, AUD/CAD, JPY/CHF
• Indices – S&P 500, NASDAQ100, GER30
• Metals – gold, silver, copper…
• Oil & Gas – Brent oil, WTI oil, natural gas
• Stocks – Coca-Cola, BMW, Google
• Crypto – BTC, ETH, LTC, BCH, XPR

Trading costs such as spreads and commissions, vary from asset to assist. Thus, we have a spread starting from 0.6 pips for forex major pairs and there are no commissions charged. As for the oil and indices, oil trading costs $0.05 per lot and the indices’ spread starts from 0.7 pips with no commissions. Cryptocurrencies are also commission free. 

Educational Resources 

We assure you that educational material is an important part of any regulated broker’s website. You can also view it as a sign of how valuable you are as a client and how eager the broker is to help you learn about trading. Brokers like Blueberry Markets really devote a lot of time to making this material.

As for Benchmark Finance, they do a decent job of providing you with all you may need no matter if you are a beginner or experienced trader. On their website, under the Education tab you can find:

• Video tutorials
• PDF tutorials
• Trading basics

But that’s not all, the broker also has different analyses you can study in order to understand the current market better. This includes market sentiments, economic calendars, financial radar, and different calculators.

All in all, good variety for anyone interested in the financial markets. 

Customer Service

Benchmark broker is known to provide the best customer service to its clients. The company has a team of experts and technical support staff to assist clients 24 hours a day, 5 days a week. These agents will be willing to help you no matter the issue you may be experiencing. Don’t hesitate to call or e-mail them in case you have trouble understanding or dealing with something.  

Additionally, even on non-business days, there is a 24/7 live chat feature to help its customers.  

There is also a help center to further aid potential clients to learn more about the online trading services provided by Benchmark. You’ll find information about the most common questions, applications, client portal, deposit or withdrawal, MetaTrader 4 and MetaTrader 5, etc. Overall a great customer support system and very helpful even for beginners as they can easily find everything they need or easily reach any representative from the company.

Benchmark Finance Overall Summary

Benchmark Finance is a Bulgarian-based broker that has been in business for over 20 years. They are predominantly operating on European territory and hold many licenses and a passport under MiFID for providing trading services in the European Union.

Among their many licenses, we would highlight a few by Tier 1 regulators including CNMV, BaFIN, CONSOB, and AMF. The markets they trade on include CFDs, forex, cryptocurrencies, stocks, indices, and more.

In terms of trading platforms, they provide access to the two best ones- MT4 and MT5. On top of that, they also provide a demo account for any new potential clients, before they decide whether or not to sign up for a live trading account. 

As for the minimum deposit, this information is not stated on the broker’s website which is a bit strange, and the leverage can go as high as 1:400 for professionals which is also odd. 

Nonetheless, the broker did put a lot of time and effort into making many educational materials you can see on their website in both text and video format. In conclusion, the range of trading assets, a platform with advanced tools, and decent customer support will ensure you have an enjoyable experience and good trading conditions.  

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