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BBM Trade

BBM Trade was founded in 2018 and is one of the brokers who provide online forex trading services. As a trading platform, MetaTrader4, which is used by a large majority of Forex traders, is available. The official website of BBM trade, https://bbmtrade.com/, is provided in different languages including English, Arabic, Polish, French, Spanish, and Vietnamese.

Although this aspect is positive, the official website design of the company is very amateur. Also, the number of visitors to the official website is very low.

If you’re reading this article right now, you are probably doing research on BBM Trade. Is BBM Trade Scam or one of the reliable brokers? How can you understand this? What types of accounts are offered by BBM Trade and what are their spread, minimum deposit, and maximum leverage? In this BBM Trade review, you will find detailed answers to all these questions. If you have any other questions or if you have a problem with this broker, you can comment from the comments section below this article. I will try to answer your questions as soon as possible.

Let’s start reviewing if you’re ready.

It goes without saying that regulation in such a market as the forex and CFD trading is an essential part to ensure the safety and security of the funds. The high liquidity provided in such a vast market like the forex market makes it a good medium for scammers to shoot their shit and aim they hit big. And in the forex markets, the hits are always big.

The regulation not only makes sure that your money and funds are protected under a special set of rules and regulations that the brokers must follow, but also some regulatory organizations cover a compensation fund aiming to compensate traders in case of any financial loss or disputes.

Being registered is different from being regulated. Registration is done for any company that aims to be set within the government as a trading or a business carrier organization, being regulated is done via financial regulatory organizations that may or may not be connected to governments. And in the case of BBM trade, the broker is only registered but not regulated.

BBM Trade, also known as Bull Bear Markets. BullBearMarkets Ltd. is registered with registration number 86242 with an address of “Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands”.

There are major regulators in the market who are regulated by them say all that needs to be said about the level of trust you can put in the broker house with their licenses. These regulators include ASIC in Australia, CySec in Cyprus and FCA in the UK. Find a List of FCA Regulated Forex Brokers and Reviews here.

BBM is offering 2 different account types with different features on the platform and these account types are broken down as follows:

The Standard account

With a maximum leverage offered of 1:500, the standard account offers variable spreads in addition to zero commission applied on transactions done within this account. A minimum deposit of $1000 is offered and you can trade with the standard account on different trading platforms including MetaTrader 4, Mobile MetaTrader 4, and BBM WebTrader. The base currencies accepted on this account type are USD, EUR, GBP, PLN, and AED. Micro lots are allowed as the minimum traded size on this account.

The Pro account

with the same leverage offered of 1:500, The minimum deposit in the Pro account is $20000 which is an excessively high amount to start an account. 0/5 pips of the spread are applied and no commissions are taking place on transactions within the pro account. The same base currencies and the trading platforms that are offered for the Standard account are also offered for the Pro account.

The minimum deposit offered by the broker seems to be quite high and not all traders can have such a high initial deposit, especially those beginners in forex and CFDs trading. and so I recommend you to See a List of Forex Brokers with Low Minimum Deposits.

BBM Trade present different channels to make your deposits to your accounts and also to make any type of withdrawals for your profits and wins that you’ve accumulated from forex and CFDs trading.

These deposit methods include:

Debit and credit cards ( Visa, MasterCard and MegaTransfer) whereas no fees are applied and the base currencies used for debit and credit cards deposit are USD and EUR. Instant processing time with $5 as the minimum deposit to be done using them.

E-wallets ( help2pay, Paytrust and payment Asia ) whereas the fees are covered by the broker and the minimum deposit to be done using these channels of depositing is $5. The base currencies to be used are USD and EUR.

Bank transfers include the same accepted currencies of USD and EUR. No fees are added from BBM trade side of transactions via this method, while the minimum deposit to be done is $200. It takes 2-5 business days for the deposit transaction via bank transfer to take place.

Withdrawal methods, on the other hand, are done thru the same channels I viewed for depositing, yet the processing time changes and he’s how.

Debit and credit card withdrawals: the fees are covered by the broker with $5 as the minimum withdrawal amount and 24 hrs processing time.

E-wallet withdrawals: $5 as the minimum withdrawal amount and 24 hrs processing time.

Bank transfers withdrawals: $50 is the minimum amount to be withdrawn and 2-5 business days is the processing time for the transaction.

I think it’s safe to say that any broker without regulations, isn’t exactly the type of broker you’d like to trade with. Nothing will grant the safety of your funds nor the segregation of your account from the operational account of the company. Besides, Nothing will also grant compensation or protection against any financial crises.

A high minimum deposit and no regulations don’t sit right with me, which is the main sign of a scam broker. 2 account types are offered but the excessive amounts presented for the minimum deposits make it very hard to trust BBM trade.

BBM trade in my opinion is not the broker you’d want to trade with, from all my years of experience trading with all different sorts of brokers and trails in the market, the big red flag that the broker is a scam is the absence of regulation.

The lack of cryptocurrencies in the funding and withdrawal options has also contributed to rating the broker in such a poor place on my list, not to mention the very little information provided on their website.

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