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BPI foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.bpi.com.ph, about the company's legal and temporary regulatory information, the company's address .

BPI Forex Broker

Basic Information

Registered Region

Philippines

Operating Period

Company Name

Bank of the Philippine Islands

Abbreviation

BPI

Company employee

Customer Service Email Address

Consumeraffairs@bsp.gov.ph

Contact Number

‎(+632) 889-10000

Company Website

https://www.bpi.com.ph

https://twitter.com/talktobpi

Keywords

5-10 years

Suspicious Regulatory License

Global Business

High potential risk

Company profile

BPIReview SummaryFounded1851Registered Country/RegionPhilippinesRegulationNo regulationServicesLoans, investments, insurancePlatform/APPBPI appMinimum DepositPhp 1Customer SupportLive chat, contact formTel: (+632) 889-10000Email: investorrelations@bpi.com.phFacebook, X, Instagram, Linkedin, YouTubeAddress: Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati City 1226BPI Information BPI is an unregulated service provider of financial services, which was founded in Philippines in 1851. It offers services for loans, investments and insurance.Pros and ConsPros Cons Long operation timeLack of regulationVarious financial services offeredMultiple acocunt typesLow minimum deposit requirementLive chat supportIs BPI Legit? BPI has no valid regulations currently. Please be aware of the risk!ServicesServices SupportedLoans✔Investments✔Insurance✔Account Type Savings AccountAccount TypeMinimum DepositSaver-PlusPhp 3,000#SaveUpPhp 1Maxi-SaverPhp 2,000,000Regular SavingsPhp 3,000Pamana SavingsPhp 25,000US Dollar Savings$500#MySaveUpPhp 1Pamana PadalaPhp 500Padala MoneygerPhp 0 Checking AccountAccount TypeMinimum DepositRegular CheckingPhp 10,000Maxi OnePhp 25,000BizLink CheckingPhp 10,000 Time Deposit AccountAccount TypeMinimum DepositAuto Renew Time DepositPhp 50,000Plan Ahead Time DepositPhp 50,000US Dollar Time Deposit$1,000BPI Fees Card Membership FeesCard TypePrincipal Card1st Supplementary Card2nd to 6th Supplementary CardBPI Signature CardPhp 5,500/yearFree for LifePhp 2,750/yearBPI Amore Platinum Cashback CardPhp 5,000/yearPhp 2,500/yearBPI Platinum Rewards CardPhp 4,000/yearPhp 2,000/yearBPI Gold Rewards CardPhp 2,250/yearPhp 1,125/yearBPI Amore Cashback CardPhp 2,050/yearPhp 1,025/yearBPI Rewards CardPhp 1,550/yearPhp 775/yearPetron BPI CardBPI Edge CardPhp 110/monthPhp 55/monthBPI Family Credit CardPhp 1,350/yearPhp 675/yearBPI Corporate CardPhp 1,700/yearNot applicableBPI eCredit Card0 Interest Rates and ChargesTypes of Fees & ChargesDetailsFeeFinance Charge or Nominal Interest Rate1 (Effective Interest Rate per month 2)A Cardholder has the option to pay the Total Amount Due, the Minimum Amount Due, or any amount in between. Finance Charges are incurred when Cardholder pays any amount less than, or does not pay on Payment Due Date, the Total Amount Due, applicable on regular purchases, billed monthly installment amortizations, fees, and interest charges, exclusive of those incurred during the current cycle.3% (2.73%)Cash Advance Finance Charge or Nominal Interest Rate1 (Effective Interest Rate per month 2)Incurred when the Cardholder avails a Cash Advance transaction, applicable on the cash advance transaction amount and cash advance fees, accrued from transaction posting date until full payment date.3% (3.16%) Installment-Related FeesTypes of Fees & ChargesDetailsFeeSpecial Installment Plan (S.I.P.) Add-on RateIncurred upon approval of a S.I.P. Loan, applied to the total loan principal amount monthly for the loan's duration. The specific rate applied is dependent on the loan type, offer, and term availed.Up to 1%Special Installment Plan (SIP) Loan Service FeeIncurred per approved S.I.P. Loan availmentPhp 500 for each Balance Transfer, Credit to Cash, and Balance Conversion availment above Php 50,000. Php 300 for all Balance Transfer, Credit to Cash, Balance Conversion up to Php 50,000 and all other S.I.P. Loans variants, per availmentSpecial Installment Plan (S.I.P) Pre-termination FeeBilled upon processing of a S.I.P. pre-termination request.Php 550 pre-termination fee plus 2% of the loan principal amount if Installment is pre-terminated before the first billing.If pre-termination is done after the first billing, a processing fee of Php 550 plus applicable interest of the next monthly payment using the diminishing balance method will be charged. Transaction FeesTypes of Fees & ChargesDetailsFeeCash Advance FeeIncurred per Cash Advance transactionPhp 200 flat fee per transactionForeign Transaction Service FeeIncurred by transactions denominated in foreign currencies or originating from foreign merchants and/or acquirers0.85% plus the Mastercard / Visa assessment fee of 1% shall apply to the converted amount of foreign-denominated transactions, using the foreign exchange rate of Mastercard / Visa at the time the transaction is posted. The Mastercard / Visa assessment fee of 1% shall also apply to:A. foreign currency transactions converted then billed in Philippine Peso at point-of-sale or;B. transactions charged in Philippine Peso by a foreign acquirer at point-of-sale. This fee applies whether the transaction is made in/outside the Philippines or online.Gaming Transaction FeeIncurred by any gambling-related transactionPhp 500 or 3% of the gaming transaction, whichever is higher, shall be charged for every gaming transaction in casinos and/or online betting Service FeesTypes of Fees & ChargesDetailsFeeCard Replacement FeeIncurred per replacement requested for lost, stolen or damaged cardsPhp 400Check Protect FeeIncurred per check funded by the BPI Credit Card limit, for Cardholders enrolled in BPI Deposit's Check Protect servicePhp 1,200 or 2% of the funded check amount by the BPI Credit Card, whichever is higherStatement of Account FeeIncurred per requested printed copy of the BPI Credit Card Statement of AccountPhp 200 per statement of accountAccount Maintenance Fee 1If the account is inactive/closed/cancelled with an overpayment, a monthly fee shall be billed, until the balance is zeroed out.Php 200/month or the overpayment amount if less than Php 200, will be debited from:A) Closed credit card accounts with overpayment for more than 1 month from the date of termination / cancellationB) Credit card accounts with overpayment with no activity for the past 12 monthsClosed Account Maintenance Fee 2If the account is inactive/closed/cancelled with an overpayment, a monthly fee shall be billed, until the balance is zeroed out.Php 50/month will be charged to terminated/ cancelled card accounts with credit balances for more than 1 month from the date of closingExpress Start Cancellation Fee 3Incurred if the first-issued BPI Credit Card enrolled under the Express Start program is cancelled before the first anniversary date, except if cancellation is due to non-delivery of such BPI Credit Card(s).Php 1,500 Penalty FeesTypes of Fees & ChargesDetailsFeeLate Payment FeeIncurred if no payment is applied or payment applied to the BPI Credit Card is less than the Minimum Amount Due by the Payment Due DatePhp 850 or equivalent to the value of the unpaid minimum amount due, whichever is lower, will be charged per occurrence per card.Returned Check FeeIncurred for every dishonored check issued by the Cardholder in payment of his / her accountPhp 100 for every dishonored check and additional 6% of the check amount In case of default, the cardholder shall pay the following in addition to penalty and charges:Types of Fees & ChargesDetailsFeeAttorney's FeeIncurred if the Cardholder's account is referred to a lawyer or to a collection agency25% of the amount dueLiquidated DamagesIncurred if the payment of the Cardholder's account is enforced through court action25% of the unpaid amount, plus litigation expenses and judicial costsPlatform/APPTrading PlatformSupported Available Devices BPI app✔Mobile, PC, webDeposit and Withdrawal BPI accepts payments via credit/debit cards and bank wire. Neteller and skrill is said to be coming soon.

BPI broker review

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BPI Forex Broker - Complete Information Guide

1. Broker Overview

　　BPI Financial, established in 1994, is a prominent player in the forex and CFD trading industry. The company is headquartered in Hong Kong, specifically located at Units 3401-03, 34/F, China Merchants Tower, Shun Tak Centre, No. 168-200 Connaught Road Central, Sheung Wan, Hong Kong. BPI Financial operates as a private entity, offering a range of trading services to clients worldwide, primarily focusing on retail and institutional clients.

　　Over the years, BPI Financial has built a strong reputation in the financial markets. One of its significant milestones was obtaining regulation from the Securities and Futures Commission (SFC) in Hong Kong. The firm provides access to various financial instruments, including forex, contracts for difference (CFDs), commodities, and indices. BPI Financial's business model encompasses both retail forex trading and institutional services, catering to a diverse clientele.

　　The evolution of BPI Financial reflects its commitment to adapting to market demands and technological advancements, ensuring that it remains competitive in an ever-evolving industry. The firms focus on providing quality trading services has positioned it as a reliable broker among its peers.

2. Regulatory and Compliance Information

　　BPI Financial is regulated by the Securities and Futures Commission (SFC) in Hong Kong. The SFC ensures that the broker adheres to stringent compliance measures, promoting transparency and protecting investor interests. The regulatory number associated with BPI Financial is not publicly disclosed, but the firm operates under the regulations set forth by the SFC.

　　The broker‘s licenses are valid as long as it complies with the SFC's regulations. BPI Financial has established legal entities in different regions, primarily focusing on the Hong Kong market. The firm implements a client funds segregation policy, ensuring that client assets are kept separate from the company’s operational funds, thereby enhancing security.

　　BPI Financial participates in investor compensation schemes, providing an additional layer of protection for clients. The broker adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, ensuring that it conducts thorough background checks on its clients to prevent illicit activities.

3. Trading Products and Services

　　BPI Financial offers a diverse range of trading products, including a significant number of forex currency pairs. The broker provides access to major, minor, and exotic currency pairs, catering to various trading strategies. Additionally, BPI Financial offers a variety of CFD products, including indices, commodities, stocks, and cryptocurrencies, allowing traders to diversify their portfolios.

　　The broker frequently updates its product offerings, introducing new instruments based on market demand and emerging trends. Retail trading services are a core focus for BPI Financial, and it also extends its services to institutional clients, providing tailored solutions to meet their specific needs.

　　While the firm does not explicitly mention white-label solutions or asset management services, it primarily focuses on delivering a robust trading platform for retail and institutional clients.

4. Trading Platform and Technology

　　BPI Financial does not support MetaTrader 4 or 5, which may be a limitation for traders familiar with these platforms. Instead, the broker utilizes its own proprietary trading platform, designed to cater to a wide range of trading needs. The platform is accessible via a web-based interface, ensuring that clients can trade from any device with internet access.

　　For mobile trading, BPI Financial offers applications compatible with both iOS and Android, allowing traders to manage their accounts and execute trades on the go. The broker operates on an ECN execution model, providing clients with direct market access and competitive spreads.

　　BPI Financials technical infrastructure includes robust server locations to ensure low latency and high execution speeds. The broker also supports API integration, allowing algorithmic trading and automated strategies for advanced traders.

5. Account Types and Trading Conditions

　　BPI Financial offers various account types tailored to different trading preferences. The standard account typically requires a minimum deposit, with competitive spreads and commission structures designed to accommodate both novice and experienced traders. Advanced account types, such as VIP or professional accounts, may be available for high-volume traders, offering enhanced features and lower trading costs.

　　The broker also provides Islamic accounts to cater to clients who require Sharia-compliant trading options. A demo account is available, allowing potential clients to practice trading strategies without financial risk. The leverage offered by BPI Financial varies across different products, typically ranging from 1:100 to 1:500, depending on the asset class.

　　Minimum trade sizes are generally set at standard lot sizes, and overnight fees are applied based on the positions held, reflecting the broker's commitment to transparency in its trading conditions.

6. Fund Management

　　BPI Financial supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirements vary by account type, with details specified on the brokers website. Deposit processing times can range from instant to a few business days, depending on the method used.

　　While BPI Financial does not explicitly state deposit fees, it is advisable for clients to review the terms associated with their chosen funding method. Withdrawal options include bank transfers and electronic payment methods, with specific limits and processing times outlined in the brokers policies.

　　Withdrawal processing times generally align with industry standards, ensuring that clients receive their funds promptly. The fee structure for withdrawals may vary based on the method selected, and clients are encouraged to familiarize themselves with these details to avoid unexpected charges.

7. Customer Support and Educational Resources

　　BPI Financial offers multiple support channels for clients, including telephone, email, online chat, and social media platforms. The customer support team is available during business hours, catering to clients across different time zones.

　　The broker provides support in multiple languages, ensuring effective communication with its diverse client base. Educational resources include webinars, tutorials, and e-books, designed to enhance traders' knowledge and skills.

　　Market analysis services are also available, offering daily insights, news updates, and research reports to assist clients in making informed trading decisions. BPI Financial provides various trading tools, including calculators, economic calendars, and signal services, to support clients in their trading journeys.

8. Regional Coverage and Restrictions

　　BPI Financial primarily serves clients in Hong Kong and other regions where it is licensed to operate. The broker has established regional offices to facilitate local client engagement and support.

　　However, BPI Financial does not accept clients from certain jurisdictions, including regions with strict regulatory restrictions or where it does not hold the necessary licenses. Specific countries or regions with limitations are not publicly disclosed, and it is recommended that potential clients verify their eligibility through the brokers website or customer support.

　　In summary, BPI Financial stands out as a reputable forex broker, providing a range of services and products tailored to meet the needs of both retail and institutional traders. With its strong regulatory framework, diverse trading offerings, and commitment to client support, BPI Financial continues to be a significant player in the global trading landscape.

　　Overall, the BPI broker aims to deliver a comprehensive trading experience, ensuring that clients have access to the necessary tools and resources to succeed in their trading endeavors.

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