Web site URL: https://betaltrade.com/
Languages: English, Arabic
Deposit Strategies: Unknown
Minimal Deposit: Unknown
Free Demo Account: Sure
Variety of Property: N/A
Varieties of Property: Cryptocurrencies, Commodities, Foreign exchange
Buying and selling Accounts and Circumstances
Betal Commerce has given virtually no data on the sorts of buying and selling accounts it gives. All that the dealer mentions on its web site is that it gives a demo account and in addition an Islamic account.
There may be additionally little or no details about the buying and selling circumstances. We have no idea what the minimal deposit requirement is. Or what the spreads provided are and even what the leverage ratios are.
Betal Commerce – Benefits
There may be nothing advantageous to buying and selling with Betal Commerce.
Betal Commerce – Disadvantages
Right here is the listing of the explanation why it might be a really dangerous thought to place your cash with Betal Commerce:
Nameless and Unregulated Dealer
There is no such thing as a data on the dealer’s residence web page about its id. Nevertheless, in its Phrases and Circumstances web page, the dealer states that it’s owned by Betal Commerce FX. The dealer claims that it’s registered in Samoa and is licensed to function in Malta.
There may be additionally point out of the dealer finishing up back-end working in Delaware in america – operations which can be carried out by an organization by the identify of FXDirectDealer LLC.
The dealer has not given a bodily handle. The one contact data offered are 3 cellphone numbers – for Australia, US and Iraq. There may be additionally a generic e mail handle given on the dealer’s web site. Primarily, Betal Commerce is working anonymously.
A dealer being registered in Samoa doesn’t imply a lot, for the reason that nation is thought for its lax monetary laws. There are not any stringent legal guidelines in place to guard customers from unscrupulous brokerages – legal guidelines that you’d discover in additional well-established authorities such because the Monetary Conduct Authority (FCA) of the UK and even the Cyprus Securities and Trade Fee (CySEC).
Now, the dealer additionally claims to be licensed to function in Malta, which signifies that it must be licensed monetary companies by the Malta Monetary Companies Authority (MFSA). Nevertheless, if you happen to examine the web register of this regulator, there isn’t any firm by the identify of FXDirectDealer LLC and even Betal Commerce listed.
Because of this this dealer has lied about its claims of being licensed by the MFSA. We additionally want to say that Malta is part of the European Union (and the Eurozone), so the dealer can also have a license to function from some other monetary authority of some other member nation. However Betal Commerce isn’t registered with some other EU monetary authority.
And eventually, there isn’t any proof of FXDirectDealer LLC being registered with any monetary authority within the US.
All in all, every little thing we have now researched about this dealer’s regulatory standing tells us that that Betal Commerce is an unauthorized and nameless brokerage providing its monetary companies outdoors the bounds of the regulation.
Plus500 is a FTSE 250 listed brokerage offering on-line buying and selling companies in CFDs, throughout 2,000+ securities and a number of asset lessons.
The corporate was created as a mixed effort of economic professionals and specialists in web-commerce with the aim of perfecting the web expertise for retail merchants.
No Entry to Buying and selling Platform
On its web site, Betal Commerce claims to supply its purchasers the usage of the MetaTrader 4 software program for buying and selling. The dealer additionally claims that it has a demo account obtainable the place purchasers can take a look at the buying and selling circumstances and the platform itself.
Now, regardless of attempting quite a lot of instances, we had been unable to entry the buying and selling platform in any respect – in dwell and demo modes. Because of this we have no idea for certain whether or not this dealer really does supply the MetaTrader 4 platform in any respect, or whether or not it’s a tactic that it’s utilizing to lure untried prospects into investing their cash with Betal Commerce.
Had we really been capable of entry the MetaTrader 4 platform, it might have been an enormous plus level for this dealer. It’s because this software program is among the greatest buying and selling interfaces on this planet. It gives its customers a spread of services resembling automated buying and selling, customizable market indicators and charts and rather more.
No Buying and selling Circumstances or Account Sorts
One other large pink flag is that there isn’t any data on the sorts of buying and selling accounts Betal Commerce has on supply. The one snippet of data the dealer gives is that it has Islamic Accounts and a Demo Account (which we had been unable to entry).
We additionally have no idea what the buying and selling prices are – there are not any leverage ratios, spreads, lot sizes, roll-overs, and many others. talked about wherever on Betal Commerce’s web site. And since we couldn’t examine the platform, we couldn’t supply this data for ourselves.
No Data on Fee Strategies
As soon as once more, there’s a full lack of expertise on cost strategies. Betal Commerce solely states that it gives a spread of cost choices, however fails to say what they’re. So, until you open a dwell account with this dealer and start the deposit course of, you’ll not know how one can deposit cash with them.
No Data on Withdrawal Course of
Whereas there’s a separate web page on Betal Commerce’s web site about its withdrawal coverage, the insurance policies are imprecise and couched in generalities. There is no such thing as a particular data given on the withdrawal strategies obtainable, or how lengthy it takes to course of a withdrawal request. We have no idea what the charges are that this dealer expenses for withdrawals and even how a lot time it’s going to take to finish transactions.
Whereas most brokerages do impose a dormancy price, the quantity that Betal Commerce expenses is somewhat too excessive. So, you probably have not used your buying and selling account for a interval of a minimum of 3 months, then you may be charged a minimum of $100 per thirty days! This price will proceed till your account steadiness is zero, after which your account can be archived!
Betal Commerce reveals all of the indicators of being a rip-off brokerage. Due to this fact, we might suggest to all our readers that you simply keep away from buying and selling with this dealer.