Brickhill Capital Review
Brickhill Capital Review
Brickhill Capital is a forex broker, which also offers spot metal trading. There are multiple account types specified at the website, but differences in the trading conditions are not mentioned.
The Company. Security of Funds
Company Country Regulation
Brickhill Capital (NZ) Limited New Zealand FMA
Brickhill Capital is registered in New Zealand, but more importantly it is overseen by the Financial Markets Authority (FMA). This gives the company a lot of credibility, especially when compared to some other brokers.
Financial regulation is probably the most important thing you should look for in a forex broker. The reason for this is quite simple – if you trade with an unregulated company, you have no guarantee, you will ever be able to see your hard earned money again. Scammers have been around since before the internet age, but nowadays they are thriving.
While New Zealand used to be a hot destination for disreputable forex brokers (the way off-shore zones are), this is not the case any more. The local regulators implemented serious changes in 2013, pushing away the shady business entities and enforcing a lot of rules on the companies, which chose to stay. Nowadays, the minimum capital requirement is $1 million. This rule alone prevents a lot of scammers from even applying, as they don’t poses such sums.
Minimum Initial Deposit
The minimum deposit requirement at Brickhill Capital is $200. This may not sound like a lot to you, but there are brokers, who have set even lower entry barriers, in order to attract new clients. One can open a cent-account at FXTM, after depositing only $5.
While a lower deposit barrier can allow basically anybody to experience the emotional swings of real trading, it shouldn’t be considered among the top things to look for in a broker, presuming you have enough capital to trade in the first place.
Average spreads & Commissions
The spreads at Brickhill Capital are hard to determine. On one hand the company’s website claims the average EUR/USD spread is 1.8 pips. Their demo platform tends to disagree, providing a 2.4 – 2.6 spread for the pair, in the early US session, one of the most liquid times of the day. Additionally the different account types don’t have variable spread specifications, which is the main reason for having them. For a comparison of the spreads provided by some of the industry-leading forex brokers be sure to visit our dedicated page.
When it comes to leverage, Brickhill Capital is rather conservative, providing only 1:100. While this used to be the industry standard several years ago (and is a fully sufficient ratio) a lot of brokers have started offering levels such as 1:500.
We must note, a higher leverage ratio should not be considered as “better” trading conditions. It only allows you to to take bigger risks, which is not recommendable, especially for beginners.
Brickhill Capital offers the ever so popular MetaTrader4(MT4) platform. It has earned its reputation as a reliable solution, providing lightning-fast access to the currency markets (depending on your broker, of course). On top of that the charting package is superb.
MT4’s most defining feature is the coding environment, which allows for the development of custom technical indicators and automated trading systems. The latter are better known as Expert Advisors (or EAs) and we have reviewed some of the more popular ones here.
The platform provided by Brickhill Capital has a different default layout than most.
When it comes to the payment options at Brichill Capital, only a few are available. They include Bank Transfer, Credit/Debit Card (via SafeCharge) and China UnionPay. E-wallets, such as Skrill, PayPal or Neteller are not supported.
Brickhill Capital is a forex broker operating out of New Zealand. They are overseen by the local FMA. While this gives them a lot of credibility, the presentation of their trading conditions isn’t great. There is absolutely no clarity on the spreads one would get after opening an account with the company.
Brickhill Capital Review Conclusion
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