BIGMO Forex Broker

BIGMO Review Summary Founded Within 1 Year Registered Country/Region Mauritius Regulation Non-regulated Market Instruments 150+ Account Types GOLD, DIAMOND, PLATINUM Maximum Leverage 1:400 Spread From 1.8 pips (Gold Account) Trading Platforms MT5 Minimum Deposit $1,000 Customer Support 24/5 Multilingual - Live Chat, via Email: support@bigmofx.com What Is BIGMO？ BIGMO is a relatively new broker, having been founded within the past year, and is registered in Mauritius, currently not regulated. The broker offers trading in a range of instruments, claiming over 150 market instruments within its portfolio. This includes Forex, CFDs, and commodities. The broker offers three different account types: GOLD, DIAMOND, and PLATINUM, likely catering to different levels of traders. They advertise low spreads, high leverage up to 1:400. Trading is facilitated through the MT5 platform. It provides 24/5 customer support, easily reachable via email at support@bigmofx.com. Pros & Cons Pros Cons Clear Interface Non-regulated Market Analysis Available on the Official Website Some Subpages on the Official Website Unavailable Various Market Instruments Available New Company Pros: Clear Interface: BIGMO offers a user-friendly platform that provides a clear interface for all trading activities. This can simplify trading procedures even for beginners. Market Analysis: The availability of market analysis on BIGMO's official website can help traders make informed decisions. These analyses can provide traders with an understanding of the market trends and potential trading opportunities. Variety of Market Instruments: BIGMO offers a plethora of market instruments for trading. With over 150 market instruments available on the platform, traders have ample opportunities for diversification. Cons: Non-regulated: BIGMO is currently non-regulated. This lack of oversight raises a red flag as there are potential risks involved when dealing with non-regulated brokers. Incomplete Website: Some subpages on BIGMO's official website are not accessible. This can limit traders' access to helpful information and thus, affect their trading activities. New Company: As BIGMO was founded within the past year, its relative newness in the market may make some traders wary due to the lack of an established track record. Is BIGMO safe or scam？ BIGMO, being a recently established entity registered in Mauritius, currently does not hold any regulation from known financial regulatory authorities. This is a significant point to consider when evaluating its security level. Whilst regulation is not the only parameter for measuring a broker's trustworthiness, it does provide a clear accountability structure and recourse in the instance of unfair practices. Whilst BIGMO does offer potentially attractive features, such as a wide range of market instruments and a user-friendly interface, the lack of regulatory oversight and mixed user reviews are of concern. Traders considering BIGMO as their broker should thus conduct thorough due diligence, factoring in these considerations before proceeding with any trading activities. Account Types Account Type Minimum Deposit GOLD $1,000 DIAMOND $15,000 PLATINUM $50,000 Leverage Account Type Leverage GOLD 1:100 DIAMOND 1:200 PLATINUM 1:400 The Gold account offers a leverage of 1:100, the Diamond account provides a leverage of 1:200, and the Platinum account provides the highest leverage of 1:400. Leverage trading involves significant risks and should be approached with caution. While it can amplify your profits if your trades are successful, it can also amplify losses if the market doesn't move in your favor. Spread & Commission Account Type Spread Commission GOLD From 1.8 pips No DIAMOND From 1.4 pips No PLATINUM Raw Yes The table outlines the different account types offered by a broker along with their associated spread and commission fees. The Gold account offers spreads starting from 1.8 pips and doesn't charge any commission. The Diamond account improves on this with spreads from 1.4 pips, also with no commission. The Platinum account, however, offers spreads at a raw rate, which generally means interbank rates or near-zero spreads, but does charge a commission. Trading Platforms MT5 For: WebTrader: The browser-based version can be accessed directly from any internet browser. This version doesn't require any software installation and allows you to trade from any device with internet access. Windows: BIGMO also offers desktop applications for Windows. This version generally has a larger feature set than WebTrader, including the ability to use custom indicators and automated trading systems. Android: The Android app provides significant mobility to traders. Users can trade, analyze the markets, and use other Trader Terminal functions on the go from their Android phones or tablets. iOS: Similar to the Android app, the iOS app allows users to trade from their iPhones or iPads. It caters to all trading functions and gives traders real-time access to the financial markets while on the move. Deposit & Withdrawal Options Max. Deposit Amount Min. Deposit Amount Fees Deposit Time Bank Unlimited $500 0% 2-5 Business Day The maximum deposit amount of BIGMO is unlimited, while the minimum deposit amount that can be made is $500. The time it takes for a deposit to be processed is between 2 to 5 business days. Both deposit and withdrawal transactions do not incur any fees. When it comes to withdrawing funds from a Forex account, BigMo has set specific rules and guidelines. Withdrawal requests are processed from Monday to Friday between 10:00 and 19:00 Server time (GMT+4). Withdrawals are not processed on weekends and holidays. Any requests sent after 19:00 (GMT+4) within a day, will be processed on the following working day. Only account holders can request withdrawal, transferring funds to third-party accounts is strictly prohibited. It's also worth noting that BigMo holds the right to confirm the identity of the payee. One can withdraw part of the funds without having to close open positions, however, the withdrawn amount cannot exceed the free margin. Finally, BigMo does not bear responsibility for losses caused by insufficient funds in a Forex account. Clients are expected to monitor and manage margin requirements for open positions to minimize risk. Conclusion BIGMO is a new, non-regulated broker based in Mauritius, offering a wide selection of over 150 trading instruments through its Gold, Diamond, and Platinum accounts. Leveraging the MT5 platform, it offers high leverage up to 1:400 and 24/5 customer support. Despite its user-friendly interface and comprehensive offerings, its unregulated nature and mixed customer reviews warrant caution and careful research for prospective traders. Frequently Asked Questions (FAQs) Q: Is BIGMO a regulated entity？ A: BIGMO is currently not regulated by any financial authority. Q: Which trading platform does BIGMO use？ A: BIGMO uses MetaTrader 5 which is accessible via web, windows desktop, and on mobile for both Android and iOS devices. Q: What kind of market instruments does BIGMO support？ A: BIGMO claims to support trading in over 150 market instruments, including a variety of major, minor, and exotic Forex pairs. Q: How accessible is the customer service at BIGMO？ A: BIGMO provides 24/5 support, reachable via email at support@bigmofx.com. Plus, Relationship Managers are assigned to DIAMOND and PLATINUM account holders. Q: Is there any country or area that BIGMO doesn't provide service with？ A: Yes, BIG MO Capital does not provide services for residents or citizens of the United States, Cuba, Iraq, Myanmar, North Korea, and Sudan. Please always check local laws and regulations before using such services. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.