Overview Of Bigmarkets
Founded In 2023, Saint Lucia-based Bigmarkets Is A Trading Platform That Offers A Diverse Range Of Market Instruments Including Indices, Forex, Commodities And Stocks. The Platform Offers Four Different Types Of Accounts To Suit Different Experience Levels And Preferences. Traders Can Choose From Basic Accounts To VIP Accounts. The Minimum Deposit Amount Ranges From $250 To $250,000, And The Maximum Leverage Ratio Is 1:500. Bigmarkets Uses The Widely Recognized MetaTrader 4 (MT4) Trading Platform, Which Offers Flexibility And Functionality, And Is Equipped With A Demo Account With Risk-free Exercises.
Customer Support Is Available Via Phone And Email, Providing User Assistance. The Platform Supports Multiple Deposit And Withdrawal Methods, With An Emphasis On A Comprehensive Educational Approach. It Provides Resources Such As An Economic Calendar, CFD Trading Tips, A CFD Glossary, And Technical And Fundamental Analysis Tools. It Ensures That Traders At All Levels Have Access To The Necessary Tools For Informed Decision-making And Strategy Formulation.
Pros And Cons
Pros:
Broad Range Of Instruments: Bigmarkets Offers A Diverse Range Of Financial Instruments To Trade, Including Indices, Forex, Commodities, And Stocks. This Diversity Meets The Diverse Needs And Preferences Of Traders, Allowing Them To Build A Comprehensive Portfolio Or Focus On Specific Markets.
Multiple Account Options: Bigmarkets Offers Four Different Account Types: Base Account, Gold Account, Platinum Account, And VIP Account. Each Tier Has Different Minimum Deposit Requirements, Spreads, And Features, Providing Traders With The Flexibility To Choose To Match Their Budget, Level Of Experience, And Trading Style.
Demo Account Available: Bigmarkets Offers Free Demo Accounts That Allow Traders To Familiarize Themselves With The Platform, Test Trading Strategies, And Gain Experience Without Risking Real Capital. This Is Especially Valuable For Beginners Or Those New To Specific Tools.
Popular And User-Friendly MT4 Platform: Bigmarkets Has Adopted The Popular And User-friendly MetaTrader 4 (MT4) Platform. MT4 Is Known For Its Intuitive Interface, Powerful Charting Tools And A Wealth Of Customization Options For Both Novice And Experienced Traders.
High Leverage Available: Bigmarkets Offers Leverage Of Up To 1:500 Which Can Significantly Amplify Profits. However, High Leverage Must Be Treated With Caution And Proper Risk Management As It Can Also Amplify Losses Proportionally.
Cons:
Non-regulated Brokers: Bigmarkets Is Not Currently Regulated By Any Major Financial Regulator. This Lack Of Oversight Increases The Risk For Traders As There Is No Guarantee Of Financial Stability, No Guarantee Of Compliance With Arm's Length Transaction Rules And No Established Channels For Dispute Resolution.
Limited Platform Selection: While MT4 Is A Popular And Powerful Platform, Bigmarkets Does Not Currently Offer Any Other Alternatives. This May Be A Limitation For Traders Who Prefer A Different Feature Or Interface.
High Leverage Can Amplify Losses: Although High Leverage Can Amplify Profits, It Can Also Significantly Amplify Losses If The Market Moves Against Your Position. This Can Lead To Account Depletion Quickly, Especially For Inexperienced Traders Who Overestimate Their Risk Tolerance.
Uncertainty Of Information: Due To A Lack Of Regulation, There May Be Problems With The Accuracy And Reliability Of Information Provided By Bigmarkets, Including Educational Resources And Financial Data.
Market Tools
Bigmarkets Offers A Diverse Range Of Financial Products Designed To Meet The Trading Needs Of Its Clients.
Indices: Bigmarkets Offers The Opportunity To Trade Contracts For Difference (CFDs) On Global Indices. This Includes Some Of The Most Successful And Influential Indices In The World. Traders Can Participate In The Dynamic Stock Market And Increase Their Chances Of Achieving Their Financial Goals By Participating In Index Trading.
Forex: The Platform Allows Users To Explore Various Trading Possibilities On The Forex Market. Traders Can Invest In Contracts For Difference (FDCs) On Various Currency Pairs, Including Major Currency Pairs, Minor Currency Pairs, And Exotic Currency Pairs. This Flexibility Enables Users To Take Advantage Of Diverse Market Conditions And Make Informed Trading Decisions.
Commodities: Bigmarkets Offers A Comprehensive CFD Trading Environment For Commodities. Traders Have Access To A Wide Range Of Commodities, Including Metals Such As Gold And Silver, And Agricultural Products. This Allows For A Variety Of Trading Strategies, And Users Can Participate In A Volatile Market Of Different Commodities.
Stocks: For Investors Looking To Strengthen Their Portfolios, Bigmarkets Offers The Option To Trade Stocks Through Contracts For Difference (CFDs). This Includes Stocks Of Well-known Companies Such As Amazon, Apple, And Facebook. Traders Can Benefit From The Performance Of These Established Companies Without Owning Actual Shares, Adding Weight And Diversity To Their Portfolios.
To Summarize, Bigmarkets Caters To A Wide Range Of Trader Needs By Offering CFDs On Global Indices, Various Forex Currency Pairs, A Comprehensive Range Of Commodities, And The Ability To Trade Major Company Stocks. This Diversity Allows Users To Participate In Different Markets And Instruments Based On Their Investment Preferences And Strategies.
Account Types
Bigmarkets Offers Two Different Account Types To Cater To Different Trading Styles And Needs: Basic Account, Gold Account, Platinum Account, And VIP Account.
- Basic Account
Basic Account Is The Most Basic Account Type With A Minimum Deposit Requirement Of $250. It Provides Traders With An Accessible Entry Point And Offers Spreads As Low As 3.0 For Popular Currency Pairs Such As EUR/USD, 3.4 For GBP/USD, 3.3 For USD/JPY, And 0.12 For Crude Oil. This Account Type Is Suitable For Those Who Are Just Starting Out On Their Trading Journey And Prefer An Easy And Direct Approach.
- Gold Account:
Gold Account Is An Upgraded Version Of The Basic Account With A Minimum Deposit Of $25,000. It Is Suitable For Traders Looking For Tighter Spreads, Offering A Minimum Of 2.7 Spreads For EUR/USD, A Minimum Of 3.1 Spreads For GBP/USD, A Minimum Of 3.0 Spreads For USD/JPY, And A Minimum Of $0.11 For Crude Oil. Designed For More Experienced Traders, The Gold Account Is Designed To Offer Better Trading Conditions While Maintaining A Reasonable Deposit Level.
- Platinum Account:
For Traders With A Higher Risk Appetite And A Minimum Deposit Of $100,000, The Platinum Account Offers An Advanced Trading Experience. It Has Lower Spreads Than The Gold Account, For Example 2.1 Pips For EUR/USD, 2.5 Pips For GBP/USD, 2.4 Pips For USD/JPY, And $0.10 For Crude Oil. The Platinum Account Is Tailored For Experienced Traders Who Require The Best Trading Conditions And Are Willing To Take On Higher Initial Deposits.
- VIP Account:
The VIP Account Is The Pinnacle Of Exclusive Privileges And Requires A Minimum Deposit Of $250,000. Aimed At High Net Worth Individual And Institutional Traders, This Account Has The Tightest Spreads Of All Account Types. With Spreads As Low As 1.6 Pips For EUR/USD, 2.0 Pips For GBP/USD, 1.9 Pips For USD/JPY And $0.08 For Crude Oil, This Account Type Is For Those Who Prioritize Quality Trading Conditions And Personalized Service.
All Account Types Share The Common Feature Of A Leverage Ratio Of Up To 1:500. In Addition To Spreads And Leverage, The Distinction Between Account Types Also Includes Access To Specific Markets, Instruments, And Customer Support Features. Notably, VIP Account Holders Enjoy The Privileges Of A Dedicated Account Manager, Demonstrating A Commitment To Personalized Service For Elite Clients.
Spreads And Commissions
Bigmarkets Implements A Tiered Pricing Structure Designed To Cater To Different Trading Preferences, Providing A Tailored Experience For Traders Of Different Account Types. Spreads For Basic Accounts Start At 3.0 Pips For EUR/USD And Gradually Expand To Other Currency Pairs. Tighter Spreads Are Introduced For Gold Accounts, Starting At 2.7 Pips For EUR/USD. Rising In The Hierarchy, Platinum Accounts Boast Tighter Spreads, With EUR/USD Spreads Starting At 2.1 Pips. For The Most Unique Traders, VIP Accounts Offer The Tightest Spreads, With EUR/USD Spreads Starting Impressively At 1.6 Pips.
In Terms Of Commissions, Basic And Gold Accounts Do Not Incur Any Additional Fees, While Platinum And VIPaccounts Pay A $7 Commission Per Round Per Standard Lot, Including Opening And Closing Positions. This Tiered Approach Allows Traders To Choose The Type Of Account That Aligns With Their Specific Trading Preferences And Strategies, Providing A Meticulous Yet Flexible Pricing Model.
Leverage
Bigmarkets Uses A Balanced Approach To Trading, Offering A Maximum Leverage Ratio Of 1:500 For All Account Types. This Leverage Ratio Means The Ability To Control A Trading Position That Is 500 Times Larger Than The Actual Account Balance. This System Allows Traders To Amplify The Potential Returns On Their Investment, For Example, A $100 Deposit Can Control A Large $50,000 Trading Position.
Although High Leverage Provides The Opportunity To Increase Market Exposure And Potential Profits, Traders Must Approach It With Caution And Recognize The Associated Risks. Bigmarkets' 1:500 Maximum Leverage Reflects A Commitment To Providing Flexibility And Opportunity To Clients, While Emphasizing The Importance Of Responsible And Informed Trading Practices.
Trading Platform
Bigmarkets Primarily Offers The Popular MetaTrader 4 (MT4) Platform For Accessing And Managing Your Trades. When Using MT4 With Bigmarkets, You Have Two Options:
MT4 WebTrader: This Option Allows You To Access The Platform Directly Through A Web Browser Without Downloading Any Software. This Is Very Convenient For Traders Who Value Flexibility And Want To Access Their Accounts Via Any Device With A Web Browser. However, Some Advanced Features And Customization Options May Be Limited Compared To The Desktop Version.
MetaTrader 4 Desktop App: You Can Download And Install The MT4 Software Directly To Your PC For A More Powerful And Feature-rich Trading Experience. This Version Offers More Technical Indicators, Analytical Tools, And Customization Options For Both More Experienced Traders And Those Who Prefer A Dedicated Trading Platform.
Although Bigmarkets Is Currently Focused On MT4, It Provides Traders With Two Convenient Access Points To This Mature Platform. Whether You Prefer Flexible Web-based Trading Or The Powerful Performance Of A Dedicated Desktop Application, MT4 Offers A Comprehensive And User-friendly Solution For Managing Your Transactions On Bigmarkets.
Deposits And Withdrawals
Bigmarkets Recognizes The Importance Of Flexibility And Convenience In Financial Transactions, Offering Multiple Payment Methods For Account Fund Access And Profit Withdrawal. For Deposits, Traders Can Use Credit/debit Cards Such As Visa, Mastercard And Maestro To Process Instantly And Without Processing Fees. Meanwhile, Local And International Bank Transfers Are Also Accepted, But Processing Times Vary By Bank And Location And May Incur Processing Fees. E-wallets Such As Skrill And Neteller Offer Instant And Free Deposit Options. Online Payment Providers Such As Sofort And Giropay Offer Instant Processing, But May Incur Small Processing Fees Depending On The Provider.
When It Comes To Withdrawals, Credit/debit Card Transactions Are Typically Processed Within 24-48 Hours And May Incur Small Fees. Processing Times And Possible Fees For Local And International Bank Transfers Depend On The Bank And Location. Withdrawals Through Skrill And Neteller's E-wallets Are Processed Within 24 Hours And Incur No Fees. Withdrawal Availability Is Limited With Online Payment Providers And Processing Times And Associated Fees May Vary. Bigmarkets' Promise To Offer Multiple Payment Options Acknowledges The Diverse Preferences Of Traders, Ensuring A Seamless And Tailored Financial Experience.
CUSTOMER SUPPORT
Bigmarkets Ensures A Robust And Easily Accessible Customer Support System That Fully Demonstrates Their Commitment To Assisting Traders In A Timely And Effective Manner. Clients Can Reach The Support Team By Phone At + 1-758-4579551, Providing A Direct And Immediate Line Of Communication. Additionally, The Option To Contact Customer Support Via Email Info@Bigmarkets.com Provides A Convenient And Documented Way To Ask For Help.
This Multi-faceted Approach Demonstrates Bigmarkets Commitment To Addressing The Diverse Needs Of Its Clients, Ensuring That Traders Have Easy Access To Help, Guidance And Information When Needed. Whether It's To Resolve Inquiries, Clarify Trading Conditions, Or Resolve Technical Issues, The Availability Of Phone And Email Support Underscores Bigmarkets' Commitment To Providing A Comprehensive And Responsive Client Server Experience.
