Traders who want to invest in binary options are usually looking for reliable and professional broker houses where they could deposit their funds in a safe and protected manner. However, broker companies come in all shapes and sizes, and unfortunately – not all of them will provide the investors with a secure and legitimate trading environment. That is why it is important to perform a thorough research before investing the money, and our BCM reviews can be of great help if you are willing to learn a thing or two about this broker house.
Min. Deposit: $250
Trading Platform: Custom
US Clients: Not Available
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BCM – most important facts
BCM, which stands for Binary Capitals Market, is a broker company from Limassol, Cyprus, and this country is also the “home” for the majority of other most prominent binary brokers. BCM broker is owned by a corporation called G.S.E. Golden Sky Europe Limited, and due to conflicting laws and regulations – US citizens are not allowed to invest in binary trading. Binary Capitals Market started offering its services a couple of months ago, or to be more precise – the “grand opening” happened on October 16th, 2016, and this means that the company does not have such a long tradition in the business. A fresh and new approach is sometimes a good thing, but the world of financial investments demands security and spotless reputation, and this is an area where BCM significantly lacks when compared to other binary brokers.
BCM broker – credentials and licenses
However, BCM scam may not be present because Cyprus Securities and Exchange Commission has issued its permit to this trading company. Thus, BCM has a license number 293/16, and this can be a strong guarantee that this enterprise is involved in a legitimate business. But, there were cases where even a license from such a respectable governing body did not prevent a broker house from operating in a fraudulent and malicious manner, which means that clients should pay a lot of attention when investing with “new kids on the block.”
BCM opinions about the trading accounts
BCM binary broker is offering various types of trading accounts, but all of these categories are almost identical to what all other broker houses are offering, and to be honest – we were expecting something modern and advanced from such a young company. BCM does offer a demo account, which is always worth mentioning, predominantly because of our less experienced investors, who can use this mode to get acquainted with the basics of binary trading.
As BCM review spotted, other than the demo account, clients can open Silver, Gold, Platinum, and VIP account, and the size of the deposit will the determine the “quality” of the actual account. For instance, if you deposit $250, which is a minimum requirement, you can start a Silver account while Platinum account will require amounts higher than $25.000. Of course, highly “tempting” bonuses are connected with theses accounts, and they range from 25% to 100% However, most traders are experienced enough to know that these “generous gifts” are just juicy carrots that are only designed to lure you in and tie you to the demanding terms and conditions.
BCM – about the trading process
SpotOption provides the software platform for BCM binary broker, and this trading terminal offers only basic features, and there is nothing “revolutionary” about this piece of software. Around 70 different assets are available for trading, and they come from the four well-known groups of assets – commodities, currencies, indices, and stocks. Investors can choose between several trading methods, but another red flag when it comes to trading with BCM is the fact that they promise highly unlikely returns on investments. In other words, 90% returns are pretty hard to achieve, even if you are a top-notch investor with dozens of years of experience in the binary world.
BCM – how to deposit and withdraw the funds
Banking methods are a crucial segment of operations of a broker house, and they all want to offer a diverse and broad range of options for depositing and withdrawing money. The same can be said of BCM, but they are only focused on several credit cards, e-wallets, and traditional wire transfers. Also, due to the complicated verification process, clients will sometimes wait up to 5 business days for their funds, and this is certainly not user-friendly nor convenient. Additionally, it should be highlighted by the BCM review customers can only withdraw up to $100, and only three currencies are in use – dollars, rubles, and euros.
BCM opinion – the final word
Even though BCM broker is showing a certain potential, it is evident that this company lacks the experience to become a serious player on the global binary scene anytime soon. The license from CySEC is an important element, but it will take a lot more effort to make this company stand out from the rest, and while we wait for that to happen – our readers can make a fortune by investing in a more trustworthy and reliable broker house.Open an Account with 24option instead