BIC MARKETS Forex Broker

BIC MARKETS Review SummaryFounded2017Registered Country/RegionCambodiaRegulationSuspicious cloneMarket InstrumentsForex, Metals & Energy, IndicesDemo Account✅LeverageUp to 1:400Spread2.0 pipsTrading PlatformMetaTrader 4, WebTrader, Mobile apps for iPhone, Android and tabletsMin Deposit$100Customer SupportPhone：+855 023 966 669Email: info@bicfx.comSocial Meida: Facebook, Tiktok, Instagram, YoutubePhysical Address: Phum 13， Tonle Basak， Chamkar Mon， Phnom Penh 12301， CambodiaBIC MARKETS Information B.I.C. Markets, part of B.I.C. Markets Co., Ltd. registered in Cambodia, it is a retail Forex and CFD broker established in 2017, which offers clients the opportunity to trade forex, metals and commodities through MetaTrader 4. Although it claims to be under the supervision of SERC, it is currently under the supervision of a suspected clone.Pros and ConsProsCons6 deposit and withdrawal methodsSuspicious cloneSupport MT4No commissionIs BIC MARKETS Legit?Regulatory StatusSuspicious cloneRegulated byCambodiaLicensed InstitutionB.I.C. Markets CO.,ltdLicensed TypeCommon Financial Service LicenseLicensed NumberUnreleasedWhat Can I Trade on BIC MARKETS? B.I.C.Markets offers traders the opportunity to trade in the world's most liquid financial market. Gain exposure to the world's largest equity market with global index CFDS offered by B.I.C.Markets. You can also trade energy and metal products such as currency pairs against the US dollar or futures CFDS.Tradable InstrumentsSupportedForex✔Metals & Energy✔Indices✔Stocks❌Bonds❌ETF❌Account Types The broker offers two types of accounts, namely ZERO Commission Account and PRO Account. The ZERO Commission Account and PRO Account target different types of traders. The minimum deposit requirement of ZERO Commission Account is $100, the threshold is relatively low, and it has no commission requirement, which can reduce some costs for traders. While PRO Account is more suitable for experienced traders, with a minimum deposit requirement of $5,000, this high threshold is not suitable for novices, as it offers a higher leverage ratio of 1:400 and relatively higher risk.Account TypesZERO Commission AccountPRO AccountTrading PlatformMetaTrader 4, WebTrader and Mobile TradingMetaTrader 4, WebTrader and Mobile TradingTrading InstrumentsForex, Metals, Energy & IndicesForex, Metals, Energy & IndicesFifth DecimalYesYesLeverage1:1001:400ExecutionMarket ExecutionMarket ExecutionMinimum opening depositUSD$100USD$5,000Minimum trade size0.01 lot0.01 lotTrade size increment0.01 lot0.01 lotMaximum Total Trade Size50 Standard lots per position50 standard lots per positionMaximum Simultaneous Open Orders300300Margin Call/Stop out level80%/50%80%/50%Account CurrencyUSDUSDCommissionNoZero CommissionLimit and Stop LevelsStarting from 2 pointsStarting from 2 pointsBIC MARKETS Fees B.I.C. Markets says it provides traders with the tightest forex spreads available with zero commission. In the forex spread information provided by the broker, the minimum spread for EURUSD is 2.0 and the average spread is 2.1. The minimum spread of other forex pairs is also 2.0, and the average spread remains between 2.1 and 2.4. In addition, there are no commission requirements on either of the broker's accounts.Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable forBIC FX✔Tablet, MobileBeginnersMT4✔Web, MobileBeginnersMT5❌Deposit and Withdrawal B.I.C.Markets offers a total of six payment methods. In addition, it requires a minimum deposit of $100.Deposit OptionsAccepted CurrenciesProcessing TimeCredit and Debit CardsUSDINSTANTNetellerUSD, THBINSTANTSkrillUSD, THBINSTANTWire TransferUSD1-3 business daysThai Internet BankingUSD THB15-30 minPerfect MoneyUSD15-30 minCustomer Service This broker does not provide 24/7 customer service. Traders can access customer service through phone, email, social media, and physical address.Contact OptionsDetailsPhone+855 023 966 669Emailinfo@bicfx.comSocial MediaFacebook, Tiktok, Instagram, YoutubeWebsite LanguageEnglish, Chinese, Japanese, Korean, German, French, Russian, Portuguese, Italian, ThaiPhysical AddressPhum 13， Tonle Basak， Chamkar Mon， Phnom Penh 12301， CambodiaThe Bottom Line B.I.C. Markets offers a modest number of account types and tradable products, although it supports MT4 and does not charge a commission. However, the abnormal state of regulation is a problem that can cause a “headache” for traders.FAQs Which regulatory authority is B.I.C. Markets regulated? B.I.C. Markets claims to be regulated by SERC, but its license is suspected to be a clone, so it is not regulated properly. Is BIC MARKETS good for beginners? No, it's not for beginners. B.I.C. Markets is currently in a quasi-cloned regulatory state, which is very unsafe for beginners. Does B.I.C. Markets charge commission? No, B.I.C. Markets does not charge trading commissions.