Company OverviewFounded
in 2005, Begin Capital Markets (BCM) is an online trading platform based in Cyprus. BCM provides trading services for a wide range of financial products to clients worldwide, including Forex, Commodities, Indices, Stocks, and Cryptocurrencies. The platform offers trading features through MetaTrader 5 and supports demo accounts for traders to practice.
As of 2023, BCM has ceased operations and no longer provides any services. This decision may be related to the licensing issue of its regulator, the Cyprus Securities and Exchange Commission (CYSEC).
Regulatory Information
BCM was originally regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 274/15. However, CYSEC's license has been revoked, indicating that BCM has failed to comply with the regulator's requirements. This incident has severely impacted BCM's compliance and reputation in the market.
In addition, BCM originally operated under the licensed name Straight Through Processing (STP), a model designed to provide traders with fast and transparent trade execution. However, the revocation of the license makes this advantage untenable.
Trading
ProductsBCM offers a wide range of trading products covering a wide range of financial markets:
- Forex: Major currency pairs (e.g. EUR/USD, GBP/USD) and minor and exotic currency pairs.
- Commodities: Gold, silver, crude oil, natural gas, etc.
- Indices: S&P 500, NASDAQ, FTSE 100, etc.
- Stocks: Shares of publicly traded companies from multiple industries around the world.
- Cryptocurrencies: Offers trading on major cryptocurrencies such as Bitcoin, Ethereum, etc.
This diverse range of trading products provides traders with a wealth of investment options.
The trading software
BCM uses MetaTrader 5 (MT5) as its core trading platform. MT5 offers advanced analytical tools, multi-timeframe charts and a variety of order types. Its features include:
- Depth of Market: Displays pending orders for real-time bid/ask orders.
- scriptId Strategy Tester: Supports the writing and testing of automated trading strategies.
- Community Chat: Exchange market views with other traders.
Although MT5 is a powerful tool, the termination of BCM's operations renders these features unusable.
Deposit and withdrawal methodsBCM
offers a variety of deposit and withdrawal methods, including:
- bank wire transfer ,
- credit/debit card (e.g. Visa, MasterCard),
- e-wallet (e.g. Skrill, However
, the minimum deposit amount for traders is $100, and deposit and withdrawal fees may vary depending on the trading method. For example, a 1.5% processing fee will be charged for credit card withdrawals.
Customer Support
BCM provides the following customer support contact details:
- Phone: +357 25 030 565Email
- : INFO@BEGINC_APPLICATION_INTERFACE_TALMARKETS.COM
However, traders need to be aware of the following:
- BCM does not offer 24/7 support.
- Traders do not have direct access to BCM's physical offices.
Core Business &
ServicesBCM's core business is focused on providing a variety of trading products and flexible account structures. Its main services include:
- Account types: Mini account (minimum deposit of $100), Standard account, and VIP account.
- Leverage: Leverage up to 1:500 is available, allowing traders to trade on a larger scale with limited funds.
- Spreads: Competitive spread levels starting from 1.0 pips.
Technical
InfrastructureBCM's technical infrastructure is based on MetaTrader 5, a platform known for its high trading speed and stable performance. However, the termination of BCM's operations made it impossible for its technical infrastructure to continue to serve traders.
Compliance & Risk Control SystemAlthough
BCM was originally regulated by CYSEC, the revocation of the license indicates that there are problems with its compliance. In addition, BCM's risk management system does not disclose the details, which makes it difficult to guarantee the safety of traders' funds.
Market Positioning & Competitive
AdvantageBCM's main competitive advantage lies in its diversified trading products and low minimum deposit requirements. However, its disadvantages include:
- limited deposit and withdrawal options ,
- lack of round-the-clock customer support
- , undisclosed financial status
, customer support and
empowermentBCM provides a way for traders A demo account that allows users to practice trading in a risk-free environment. In addition, traders on the Standard and VIP accounts may receive additional support services, such as direct communication with analysts.
However, BCM's customer support services are limited and lack of a physical office can be inconvenient for some traders.
Social Responsibility and ESG
As of 2023, BCM has not disclosed its social responsibility or ESG (Environmental, Social, Governance) policies. This shows a lack of transparency in terms of sustainability.
The Strategic Cooperation Ecosystem
BCM does not disclose information about its strategic cooperation or external partners. This makes it difficult to assess the trader's ecosystem dependencies.
Financial
HealthBCM's financial status is not disclosed, which makes it difficult to guarantee the safety of traders' funds. The lack of financial transparency can have a negative impact on traders' trust.
Future Roadmap
The future roadmap is unknown as BCM has ceased operations. Traders should avoid further cooperation with BCM to reduce potential risks.
ConclusionBegin Capital Markets (BCM) used to be an online trading platform that offered a variety of trading products and flexible account structures. Its MetaTrader 5-based trading features and low minimum deposit requirements provide convenience to traders. However, the revocation of the license and the termination of operations made it impossible for BCM to continue to provide services to traders.
When choosing a broker, traders should prioritize compliance, financial transparency, and reliable services to reduce risk.
