BBB Markets Review
BBB Markets Review
BBB Markets stands for Balanced, Bold, Boundless Markets. While the supposedly offers multiple account types, there is no clear difference in the trading conditions, based on your initial deposit.
The Company. Security of Funds
Company Country Regulation
OB Capital Limited Marshall Islands N/A
BBB Markets is a trading brand of OB Capital Limited, a company registered on the Marshal Islands. You may be familiar with this entity, as together with the Bulgaria-based MT Full Services EOOD, they also run Jacob Morgan Investment House.
None of these are under any regulatory oversight, and BBB Markets has even been warned against by ASIC.
You are probably already familiar with the importance of financial regulation, but we will reiterate, for those who aren’t. To put it simply, if you trade with an unregulated company, you may not be able to withdraw either your profits or initial investment. There are a lot of companies claiming to be brokers, but actually being simply scams, willing to take people’s hard earned money.
In order to prevent such elements from dominating the online (and offline) space, governments have created dedicated regulatory agencies. The aforementioned Australian Securities and Investments Commission (ASIC) is just one of them. Other than issuing warnings against companies, the Commission oversees the legitimate brokerages Down Under. They have implemented a minimum capital requirement of AUD 1 million in order to ensure the stability in rough times. On top of that all ASIC-regulated companies must store client funds in segregated accounts. These are special bank accounts, which can’t be emptied by the broker. These two measures prevent scammers from registering with ASIC.
Minimum Initial Deposit
BBB Markets demands the relatively high level of $250 as an initial investment. With the technological advancement of recent times, brokers can accept even smaller clients. As an example you can create an account at IG by depositing as low as you want. The pioneering broker and spread betting provider has removed the entry barrier, allowing everybody to experience real account trading.
Average spreads & Commissions
BBB Markets offers no information on the costs of trading with the company. While this is unusual for the forex industry as a whole, the other brand owned by this company also doesn’t give much information about the actual core of their service.
While testing the platform provided by the company, we saw a 4.1 pips spread on EUR/USD, which is a very high level, when compared to the rest of the industry. If you want a detailed review of the conditions offered by some of the industry-leading brokerages, do explore the potential of our spread-comparison platform.
At this point, you may not be surprised to hear that BBB Markets does not disclose the leverage ratio, which it offers. Again, this is a minor issue, in comparison to the regulatory status of the company.
If you are looking for a broker offering high leverage, you can’t go wrong with XM, who provide the amazing 1:888 ratio. That being said, we must warn you of the risks involved with high-leverage trading. While any form of investing can lead to losses, “over-gearing” is much more likely to result in losses.
BBB Markets offers two iterations of a (relatively popular) web-based platform. One of them provides forex and CFD trading, while the other is a binary options platform. There has been a recent trend in companies trying to diversify their services in this way. Most often binary brokers are adding spot trading to their offering. That being said, lets take a look at the platform provided by BBB Markets:
After testing for a some time we are left with mixed feelings. While the platform is somewhat customizable and this isn’t the full potential of the charting package, we would rate this as very inferior to the top tier solutions, like MetaTrader4 (MT4).
Methods of Payment
BBB Markets accepts, what are considered as traditional payment methods nowadays, Credit/Debit Card and Wire Transfer. That being said, some traders do prefer using on-line solutions, such as Skrill for their trading needs.
BBB Markets is an unregulated broker, which was mentioned in one of ASIC’s warnings. Despite that, we reviewed their services and (this probably isn’t going to surprise you) were not impressed. The website does not specify the trading conditions and after registering an account we realized why they were not disclosed.
BBB Markets Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about BBB Markets Review.