BGC Forex Broker
Basic Information
United Kingdom
5-10 years Regulated in United Kingdom Regulated in South Korea Institution Forex License Financial Service High potential riskCompany profile
Rating Index
BGC Forex Broker - Complete Information Guide
1. Broker Overview
BGC Partners, Inc., commonly referred to as BGC, was established in 2004 and has since built a reputation as a leading global brokerage firm. The company is headquartered at 499 Park Avenue, New York, NY, USA, with additional offices in London, UK, and various other locations worldwide. BGC operates as a publicly traded company, providing services primarily to institutional clients, including banks, hedge funds, and other financial institutions.
BGC has developed a strong presence in the financial markets, particularly in the forex and contracts for difference (CFD) sectors, offering a comprehensive suite of trading services. Over the years, BGC has achieved several milestones, including the launch of innovative trading platforms and the expansion of its global footprint through strategic acquisitions.
The company operates under the umbrella of Cantor Fitzgerald, a well-known financial services firm, which further enhances its credibility and operational capabilities. BGC's business model focuses on providing both retail forex trading and institutional brokerage services, catering to a diverse clientele seeking to navigate the complexities of the financial markets.
2. Regulatory and Compliance Information
BGC operates under the oversight of several regulatory bodies, ensuring compliance with industry standards and safeguarding client interests. The primary regulatory authorities include:
- Financial Conduct Authority (FCA) in the UK
- Securities and Exchange Commission (SEC) in the USA
- Financial Industry Regulatory Authority (FINRA) in the USA
BGC holds the following regulatory licenses:
- FCA License Number: 454814
- SEC Registration Number: 1634997
- FINRA Member since July 1987
These licenses are valid for conducting various financial activities, including forex trading and brokerage services. BGC adheres to a strict policy of client fund segregation, ensuring that client assets are kept separate from the company's operational funds. Furthermore, BGC participates in investor compensation schemes, providing an additional layer of security for clients.
The company implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures to prevent illicit activities and ensure a transparent trading environment. This includes thorough verification of client identities and monitoring of transactions for suspicious activities.
3. Trading Products and Services
BGC offers a wide range of trading products and services, catering to both retail and institutional clients. The forex broker provides access to numerous currency pairs, including major, minor, and exotic pairs. The following are some key offerings:
- Forex Trading: BGC facilitates trading in over 50 currency pairs, including major currencies such as EUR/USD, GBP/USD, and USD/JPY.
- Contracts for Difference (CFDs): Clients can trade CFDs on various asset classes, including indices, commodities, stocks, and cryptocurrencies.
- Unique Products: BGC also offers tailored trading solutions for institutional clients, including white-label solutions and asset management services.
The broker frequently updates its product offerings to meet evolving market demands and to introduce new trading instruments. Retail clients can benefit from competitive spreads and various account types designed to suit different trading styles and preferences.
4. Trading Platform and Technology
BGC provides its clients with access to advanced trading platforms designed to enhance the trading experience. While the company does not support MetaTrader 4 or MetaTrader 5, it offers proprietary trading solutions that cater to both retail and institutional clients.
Key Features of BGC's Trading Platform:
- Web-Based Trading Platform: BGC's web platform allows clients to trade directly from their browsers without the need for downloads.
- Mobile Application: The broker offers mobile trading applications compatible with both iOS and Android devices, enabling clients to trade on-the-go.
- Execution Models: BGC employs various execution models, including ECN and STP, ensuring fast and efficient trade execution.
The broker's technological infrastructure is robust, with servers located in strategic global financial hubs to ensure low latency and high reliability. API access is also available for clients interested in automated trading solutions.
5. Account Types and Trading Conditions
BGC offers a range of account types tailored to meet the diverse needs of its clients. The following are some key account features:
- Standard Account: Minimum deposit requirements vary, with competitive spreads typically ranging from 1 to 3 pips. Commission structures are transparent, with clients benefiting from low trading costs.
- Premium Accounts: BGC provides premium account options for high-volume traders, offering enhanced features and lower trading costs.
- Specialized Accounts: Options such as Islamic accounts for clients seeking Sharia-compliant trading solutions are available.
Clients can also access a demo account to practice trading strategies without risking real capital. The leverage offered by BGC varies by asset class, with forex trading allowing up to 40:1 leverage.
6. Fund Management
BGC supports multiple funding methods to facilitate client transactions. The following payment options are available:
- Deposit Methods: Clients can deposit funds via bank transfers, credit cards, and various electronic wallets.
- Minimum Deposit Requirements: The minimum deposit varies by account type, with standard accounts typically requiring a lower initial investment.
- Processing Times: Deposits are generally processed within 1-3 business days, depending on the method used.
- Withdrawal Methods: Clients can withdraw funds through similar methods, with processing times varying based on the payment method.
- Withdrawal Fees: BGC maintains a transparent fee structure, with specific withdrawal fees outlined on the broker's website.
7. Customer Support and Educational Resources
BGC is committed to providing exceptional customer support to its clients. The following support channels are available:
- Contact Methods: Clients can reach customer support via phone, email, and live chat. The broker also maintains a presence on social media platforms.
- Service Hours: Customer support is available during business hours, covering multiple time zones to assist clients globally.
- Multilingual Support: BGC offers support in several languages, ensuring effective communication with its diverse clientele.
In addition to customer support, BGC provides a wealth of educational resources, including webinars, tutorials, and e-books. The broker also offers market analysis services, delivering daily insights, news, and research reports to help clients make informed trading decisions.
8. Regional Coverage and Restrictions
BGC operates in various global markets, providing services to clients in multiple regions. The following outlines the broker's regional coverage:
- Primary Markets: BGC primarily serves clients in North America, Europe, and Asia, leveraging its international presence to cater to a diverse clientele.
- Regional Offices: The broker has established offices in key financial centers, including New York and London, to facilitate global operations.
- Restricted Regions: BGC does not accept clients from certain jurisdictions, including countries with strict financial regulations or where the broker is not licensed to operate.
In conclusion, BGC stands out as a reputable forex broker, offering a comprehensive suite of trading services and robust regulatory compliance. With a focus on innovation and customer support, BGC continues to evolve in the dynamic financial landscape, providing clients with the tools and resources necessary to succeed in their trading endeavors.
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Latest Reviews
Huang423
Taiwan
Yang Hongxin told everyone about a forex software with fast, stable and reliable withdrawals. 112.12/18 After joining the platform, he frequently upgraded the network and changed lines. It took 2 weeks to withdraw USDT2000, but I was told that the withdrawal website needs to be confirmed (confirmation requires 24-hour feedback). At the end of the year, many people choose to withdraw via wire transfer. When I asked them to give me a wire transfer form, they only said that it had been submitted. I asked Yang Xinhong if there is only one customer service staff? Questions about deposited value were quickly answered. Questions about withdrawal were pending review. It has been read for an hour and cannot be read back. Yang Xinhong asked me to contact the customer service staff. What happens after recharging is different from what Yang Xinhong said. Everyone, please don’t be deceived.
Exposure
2024-01-02
Anson7920
Taiwan
I saw the reminder from netizens too late. Let me share my painful experience on 2023/11/28. I started practicing BGC customer service deposits. I made normal profits at the beginning. Later, I had a direct liquidation of 5,000 USDT and lost money instantly. I still had almost 2,000 USDT on hand. When I wanted to withdraw money, I started to delay the customer service for various reasons. In the end, the customer service ignored me and the operation group was deleted. Yang Xinhong disappeared from the world and lost almost NT$170,000. I remind you not to be deceived again. The following are the same keywords shared by netizens: Yang Xinhong/Forex/BGC/USDT/Stock Profits were originally seen on Facebook or in the community - teacher Yang Xinhong led the line group. At the beginning, the teacher shared so-called high-quality stocks and provided accurate stock entry times and follow-up The profit trading time will be informed, and indeed the accuracy of each transaction is very high. Later, Teacher Yang Xinhong invited to join the paid group (paying virtual USDT, no New Taiwan Dollar) based on his trust in stock raising and high profits in the growth period. Due to the poor stock market, members can use forex to compensate for the fact that during the period, many members were idle. Through the forex operation platform provided by the teacher, profit orders were posted continuously. The transactions ranged from one hand/second hand/three hands/four hands. (Each lot is 5,000 USDT, each USDT is equivalent to 1 US dollar). Each operation will control the profit at 5% to 15%, and repeatedly emphasizes not to chase the profit every time and the funds are not all in., so as to take off the guard. Because it is not a huge profit in an instant. After all, the profit from short or long positions in the stock market will also exceed 5%. After downloading the software provided, the version of the scam in 2023 is, you will be asked to join the customer service account of the software and how to purchase virtual currency in the future. Regarding how to deposit funds into the forex platform BGC, if you check online that BGC is real and has been officially certified, the forex platform they operate for you is fake. I encountered a lot of situations when I started to withdraw money, and at the same time I asked for help. Teacher Xiang also asked me to actively contact customer service. The problems I encountered when withdrawing money are as follows: 1. The customer service said that the wallet information for my withdrawal was abnormal and I could not withdraw money. 2. It said that the channel for applying for a withdrawal was crowded and I needed to wait. 3. It said that the blockchain Crowded, waiting continuously, the status of the withdrawal application has been reviewed, and the follow-up is pending remittance 4. The customer service began to disappear, at least 10 hours or more 5. The customer service provides that after re-depositing, the speed of withdrawal can be accelerated, and it can be opened Fast track for large withdrawals 6. The customer service apologized and was willing to provide a one-time fee for delayed withdrawals 7. The follow-up continued to hit the wall, indicating that the withdrawal was still waiting for the remittance. At the same time, the trading website of the forex platform It was closed. At the same time, customer service said that the website was under maintenance. There were members who were asked to enter the group. It was later revealed that the forex trading website is still operating and trading, and internal members (stakeholders) continue to share operations and profit rates. Once someone enters the group, follow If everyone warns them, they will leave the group and throw their money into the sea. Alas, if you don’t have a greedy mentality, it will be easy to suffer misfortune.
Exposure
2023-12-23
Rollin
Taiwan
Situation description 1. Joined the stock investment LINE group where Li Chengzong is the moderator for about a year, and started soliciting foreign exchange transactions. After relying on the moderator privately, the moderator provided a LINE online customer service account, and the online customer service guided the registration and account opening, and provided a deposit wallet. Address and transaction URL that can be logged in after registration. 2. The transaction URL is displayed as a BGC webpage, which often requires maintenance and suspends transactions. 3. The general trading time is mostly led by the moderator Li Chengzong from Monday to Thursday every week, choosing to trade in the afternoon or evening, choose the foreign exchange transaction of the euro against the US dollar, trade with the virtual currency USDT, the first-hand margin is 5000 USDT, and the transaction fee is 200 USDT. 4. The profit of each order is about 5~15%, and the trading method is to earn the price difference. 5. When I applied for a withdrawal on January 21st of this month, the system showed that it would take 1-2 days for the account to be credited. The result was not even reviewed. After contacting customer service for a reply, they will submit a review and wait for a reply. As a result, there was no message at all after that. Please contact us again. The moderator did the same and later determined it to be a fraud and immediately reported it to the police.
Exposure
2024-01-26