BIC Markets Review

BIC Markets is a Cambodian forex and derivatives broker, operating with a market maker model to offer its clients the trading of forex pairs, metals, commodities and indices. The brand is owned and operated by BIC Markets Co Ltd and started operations in 2017.

I. Background and Company Overview of BIC Markets

BIC Markets aims to provide brokerage services without a lot of red tape and in a manner that its clients can easily identify with. For instance, the company hosts a talk show that deals with several aspects of the forex market. The company's non-dealing desk model ensures there are no conflicts of interest between the company and its clients. The company also has a dedicated fibre optic network which ensures ultra-fast fulfilment of trade orders.

Some of the features that continue to attract traders to BIC Markets are:

• Clients' funds segregation is available via a Segregated Clients Trust Account with BIC Cambodia Bank PLC.
• Negative balance protection for all traders. This has been a feature of BIC Markets since 2018.
• Deposits of between $1000 and $200,000 qualify for a 10% deposit bonus and also a $50 cashback (withdrawable) for every 10 standard FX lots traded.

II. Trading Platforms and Tools

The MT4 platform is the mainstay of trading on BIC Markets. The versions available are the desktop, mobile and web-based apps. The MT4 offered by BIC Markets gives traders the best that retail forex trading has to offer. There are opportunities to use expert advisors and custom indicators, and use a VPS to take advantage of the fast speeds offered by the BIC Markets MT4.

Here is what traders can expect in terms of tools and resources to boost their trading experience:

• There is a comprehensive economic calendar that also includes macroeconomic data from emerging market economies on the BIC Markets website. This is an invaluable resource for news traders.
• BIC Markets has an introductory lesson on forex and CFD trading for news traders on its platform.
• Forex signals provided to funded live account holders on the MT4 platform.

III. Account Types and Spreads

BIC Markets offers three account types.

• Zero Commission account
• Pro account
• PAMM account

The Zero Commission account comes with a $100 minimum deposit requirement. As the name implies, trades do not attract any commissions. You can have as many as 50 standard lots in open positions, and as many as 300 simultaneous open orders. The leverage on this account is 1:100. The average spread is 2.0 pips.

The Pro account also comes with a zero-commission status. However, the minimum opening deposit is $5,000, with a minimum trade size of 0.01 lots. You can have as many as 50 standard lots in as many as 300 simultaneous open positions. The maximum leverage on this account is 1:400. This account comes with an average spread of 2.1 pips on the EUR/USD, the most liquid FX pair.

The PAMM/MAM accounts are for traders who prefer passive participation in the market. You can subscribe to PAMM account systems according to the specification of the trading pool you want to invest with. Therefore, there are no minimum or maximum deposit requirements, as these are dictated by the rules of investment for each individual PAMM pool.

IV. Contract Specifications

Here are the contract specifications on BIC Markets.

• Margin call and stop-out levels for these accounts are set to 80% and 50%, respectively.
• Price quotations are according to the 5-decimal pricing system.
• Limit and stop levels start from 2 points.
• The minimum trade size is 0.01 lots, with trade increment size of 0.01 lots.
• The base account currency for all accounts is US Dollars.

V. Security and Regulation

BIC Markets is owned and operated by Cambodian-based company BIC Markets Co Ltd. The company is registered and regulated by the Securities and Exchange Commission of Cambodia.

Residents of the United States of America are not permitted to operate accounts with BIC Markets due to local regulatory restrictions. The same goes for countries such as France, Belgium, and other countries where regulators have restrictions on CFD trading. Citizens of countries on international financial blacklists are also prohibited from trading with BIC Markets.

VI. Customer Support and Education

The customer support desk of BIC Markets is available from Monday to Friday for 9 hours a day to take your phone calls. Apart from the phone number, you can also reach BIC Markets in other ways. The contact channels are shown below:

• Phone: +855 023 966 669
• Email: info@bicmarkets.com.kh
• Live chat
• Online contact form
• Facebook: facebook.com/bicmarkets.com.kh
• Instagram: instagram.com/bicmarketscambodia/
• TikTok: tiktok.com/@bicmarkets_cambodia

Conclusion

The standout product on BIC Markets is the speed of its data transmission, which allows orders to be transmitted rapidly without dealing desk intervention. Open an account with BIC Markets today and trade actively on the Zero Commission and Pro accounts, or passively using the PAMM/MAM account facilities.