Minimum Deposit: $25
Maximum Leverage: 1:500
My Score: 3.6
Hey guys! I will introduce to you Berndale Capital today. Berndale Capital is a Forex and CFD broker who based in Australia.
Berndale Capital was established in 2012, with the goal of an idea that by empowering clients with not only a great product, but also with corporate transparency and an extra-mile attitude toward customer service.
The broker is operated by Berndale Capital Securities Pty Ltd who located in Level 10, 379 Collins Street, Melbourne, Australia 3000.
In this Berndale Capital review, you will find answers to the following questions. Is Berndale Capital scam or legit? What are the account types, spreads, leverage and minimum deposit offered by the broker? Is Berndale Capital regulated?
Regulation of Berndale Capital
To ensure the client protection and confidence it is critical to choose the regulated broker. Berndale Capital is regulated by under the jurisdiction of the Australian Securities and Investment Commission (ASIC).
That regulation requires to follow strict rules that provide operational transparency, data protection and security of funds.
For example, clients’ funds must hold in segregated accounts separate from the company’s operational funds. According to the website of the broker, all funds held on behalf of the broker’s clients are located within a segregated trust account of the Commonwealth Bank of Australia.
In addition, ASIC requires a minimum capital requirement and forex brokers must hold at least $ 1 million as a proof of good financial health.
However, Australian forex broker regulation does not include any compensation scheme in case a licensed company becomes insolvent.
Account Types and Spreads
This Forex broker offers a wide range of trading accounts, including a demo account to help newbies get started in the competitive world of Forex trading.
There are four account types offered by Berndale Capital. These are STP account, STP Plus, ECN Pro, and Institution Plus.
Different account types are organized according to several trader types. There are basically 4 category types: novice traders, experienced traders, advanced traders and professional traders.
The STP account requires only $25 minimum deposit and spreads are from 1.5 pips on EUR/USD. The leverage is up to 1:500. There are no commissions and this account is tailored towards newbies.
The STP Plus account requires $200 minimum deposit. Spreads are starting from 0.0 pips, and there is a commission $3.50 per standard lot per side. The leverage is 1:500, this account is for experienced traders who are looking to improve their trading abilities.
The ECN Pro account is suitable for advanced traders. The minimum deposit for this account is $2,500 and spreads are 0.0 pips + $2.5 commission per standard lot per side. The leverage is 1:500 which is high.
The last one is the Institution Plus account. It is suitable for high volume traders. There is no information about the minimum deposit and spreads about this account type on the website of the broker.
Furthermore, there is a free Demo account for newbies. However, the broker doesn’t offer a swap-free account to traders who Islamic belief.
Berndale Capital provides the most popular trading platform MetaTrader 4. MT4 platform can be tailored to client expectations with a wide range of trading indicators, tools and charting options.
This platform has some great features. For example, it has a user-friendly interface, advanced functions, easy-to-use and more.
In addition, the presence of EAs (Expert Advisors) can absolutely boost your trading activity, and this is facilitated by the trading software.
The broker offers its clients a wide range of trading products. Clients can trade on FX trading, commodities, precious metals, and stocks all in a CFD format.
There is also Bitcoin trading instruments include BTC/USD. Commodities are somewhat limited, but they include WTI crude oil (West Texas Intermediate), gold, and silver.
There are also 62 currency pairs, 16 stock exchange indices, 4 governmental bonds.
To fund your trading account, you can use the options that are provided through the range of payment methods include Bank Transfers, Cards Payments, and e-wallets Neteller, Skrill, and FasaPay.
Berndale Capital is an ASIC regulated forex broker. It offers good trading conditions for trading in currency pairs, commodity and stock CFDs, and some precious metals through the world famous MT4 trading platform.
You can choose the best one for you among the account types. If you don’t want to open an account with this broker, you can check my top forex brokers list and a better one.