Bein Markets is a brand owned and operated by Leverate Financial Services Ltd. The company is registered as a Cyprus Investment Firm (CIF) and is licensed by the Cyprus Securities and Exchange Commission (CySEC). The team of BeIn Markets works endlessly to protect its reputation and adhere to transparency, the company claims. Customers can trade CFDs on forex, indices, energies, precious metals, and shares via the world’s most popular trading terminals – MetaTrader 4 (MT4) and Sirix. You can start trading by investing EUR250.
When you open an account in an online trading brokerage company, it is good to check which body it is regulated by. Bein Markets is another trading name of Leverate Financial Services Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 160/11. This license authorizes the company to provide brokerage services to all European Union (EU) member states. Leverate Financial Services Ltd complies with all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and MiFID II. The company is a member of the Investor Compensation Fund (ICF), which aims to provide protection and compensation for cash payments when a company member of the fund is unable to meet its obligations. Clients of Leverate Financial Services Ltd are protected by the Investor Compensation Fund (ICF) up to EUR20,000 per person.
There are four types of live trading accounts you can open with Bein Markets. They differ in the required deposit amount, the size of the commissions and spreads offered.
Standard Account – The minimum deposit amount is EUR250. Spreads for major currency pairs start at 0.9 pips and the commission on shares is 0.5% per deal.
Gold Account – The minimum deposit amount is EUR10,000. Spreads for major currency pairs start at 0.5 pips and the commission on shares is 0.4% per deal.
Platinum Account – You must invest at least EUR50,000 to open this type of account. Spreads for major currency pairs start at 0.5 pips and the commission on shares is 0.35% per deal.
Islamic Account – The minimum deposit amount is EUR250. Spreads for major currency pairs start at 0.5 pips and the commission on shares is 2% per deal.
Market Maker or STP Brokerage?
The Best Interest and Order Execution Policy document shows that Leverate Financial Services provides execution of orders on behalf of the clients as well as reception and transmission of orders. The company may execute orders dealing on its own account or as a matched principal. When dealing on its own account, the company is the counterparty to client orders, keeping the entire risk for itself. When it acts as a matched principal, the company puts itself between the buyer and the seller. Here it is the main execution venue, the principal, and the sole counterparty to its clients’ orders, but it transfers the risk hedging some or all its exposure in certain assets with its liquidity providers. When orders are transmitted for execution using the Straight Through Processing (STP) model, there is no major conflict of interest. When the company acts as principal and is the sole execution venue for the execution of its clients’ orders, it acts as a market maker, keeping the entire risk to itself and the conflict of interest exists. Any loss to customers is a gain for the company.
The same document informs about slippage. Slippage occurs when at the time that an order is presented for execution, the specific price shown on the client’s terminal may not be available. Then, the order will be executed close to or several pips away from the requested price. The company mentions that slippage is a normal phenomenon during the period of low liquidity or high volatility.
Leverate Financial Services explains that once the market reaches the stop loss price, the order is triggered and treated as a market order. This means that stop loss orders are also subject to slippage and will be filled at the next available market price; Therefore, stop loss orders are not guaranteed.
The Terms and Conditions file informs that all retail clients are covered by the Negative Balance Protection. This means that you may not lose more than the amount deposited in your account. If a position is closed at such a price causing your equality to fall below zero, the company shall waive its right to receive the balance from you.
The usual fees include spreads, commissions and swaps but there also are some additional fees. If the client did not trade or conducted any trade during three calendar months, then the account status will become “inactive”. The company will charge a fixed monthly payment of EUR50 as “Inactivity Fee”. The payment will be conducted at the end of each calendar month until the client’s trading account remains inactive. For inactive accounts with available balance less than EUR50, the company will charge you a lower amount for inactivity fee.
In case of a chargeback request, the company will impose a charge of EUR200 if the chargeback case is in favor of the company. In addition, if the company receives several chargeback requests from the same client, the company will impose a fee of EUR200 for each claim.
Deposits and Withdrawals
Deposits can be made by bank transfer, credit/debit cards, and alternative payment methods such as Neteller, Skrill and UnionPay. The minimum deposit/withdrawal amount depends on the account type and is EUR250 for the Standard account.
All deposits are instant, except for the bank transfers. Standard bank wire within the EU takes 3 working days. Bank wires to some countries may take up to 5 working days. If the deposit currency is other than the base currency in the trading account, it will be converted at prevailing interbank prices.
Withdrawals must be made by the same payment method with which the customer’s trading account is credited. They are processed within one business day and in the currency of the deposit. The minimum withdrawal amount is EUR5 and varies according to the payment method.
The deposits and withdrawals section on the website claims that the company does not charge any fees for client deposits and withdrawals.
One of the platforms offered by the company is Sirix. It is available as a web version and requires no download. The interface is simple and user friendly and offers many trading features for monitoring and analyzing price movements. A variety of effective risk management tools, interactive charts and advanced technical indicators are also available.
In addition, the popular terminal MetaTrader 4 (MT4) is also offered. MT4 has an advanced interface that helps traders to make deals as simply and efficiently as possible. It can be customized easily presenting the favorite instruments and preferred chart type. One-Click Execution mode and access to advanced technical indicators help traders in the decision-making process. The platform is ready for automated trading mode using available and custom expert advisors (EAs).
Currency Pairs – Nearly 50 major, minor, and exotic currency pairs are available for trading. The spread for the EUR/USD pair depends on the account type and starts from 0.5 pips.
Indices – Clients can trade 9 of the major indices globally. They include German DAX, British FTSE100, US NASDAQ100, etc.
Commodities – 8 commodities are available including Gold, Silver, Crude Oil and Brent Oil.
Shares – You can trade 180 European and over 100 US shares.
There is a dedicated copy trading section where you can become an investor or a follower who copies investor’s deals. You can connect your account to several strategies and turn them off at any time. You can choose the copy ratio of your trades and set limits to minimize the risks.
BeIn Markets is another brand of Leverate Financial Services Ltd, which has a CySEC regulation. It allows the company to provide financial services across European Union. It may act as both STP brokerage and market maker (being a counterparty). The company provides a wide selection of trading instruments via the popular trading terminals Sirix and MT4. There are 4 types of accounts that differ in the required deposit amount, the size of the commissions, and spreads offered. The minimum initial deposit is EUR250.