Benchmark Finance Review – Who Is BenchmarkFx.Co.Uk Broker?

Benchmark Finance is a brokerage brand by BenchMark Group, established in 2003. The company started offering financial services and building its reputation as soon as it gained a FSC license from the Bulgarian financial entity. 

Over the course of almost 20 years, Benchmark Finance has offered online trading services on MetaTrader platforms with solid trading conditions. Traders have access to numerous world markets and are able to trade more than 30 000 assets. 

The firm has the authorization to provide investment services on the territory of Spain (Number 4100) by CNMV, on the territory of Germany (ID 137382) by BaFin, on the territory of France (Number 75973) by AMF and other members of the European Union. 

For a detailed report on this great broker for safe investments, read our Benchmark Finance review. 

Benchmark Finance Pros and Cons

Multiple advantages come from investing with Benchmark Finance:

• The deposit requirement is not set, so you can join with a live trading account after investing as little as $1. At that, all deposits and withdrawals are fee-free.
• Trading on MetaTrader 4 and MetaTrader 5 allows access to over 30 000 instruments.
• Costs and fees are very low and the spread on EUR/USD starts at 0.6 pips. 
• Responsive customer support with several ways of communication.
• Demo account with virtual accounts. 

Since nothing is perfect, Benchmark Finance has its own flaws. Still, they’re minor compared to the benefits of trading with this broker. Some which we have noticed are:

• Islamic swap-free account is not an option
• Customer support isn’t available 24/7
• The only funding methods are credit cards and bank transfers, without E-wallets
• Not all clients are accepted, so traders from some countries cannot join. The USA is an example.
• The educational resources are pre-recorded tutorials and articles without webinars and live discussions with experts.

Regulation and Security of Benchmark Finance

As we have already mentioned, Benchmark Finance holds licenses from several respective authorities: FSC, BaFin, AMF, CNMV, CONSOB, and KNF. Multiple regulations from EU financial entities confirm this broker to be trustworthy and reliable. 

Regulatory standards covering brokerage activity across the EEA are quite harsh. Besides the demand considering the starting capital, brokers have to provide the utmost security and safety of funds. 

Thanks to its association with top-tier banks, Benchmark Finance provides segregated bank accounts for the safekeeping of all investments. Firms cannot have access to this capital or misuse it. 

Another important safety measure is limiting the leverage. Clients can enjoy trading with a reduced risk of loss with leverage up to 1:30 for retail traders. However, professional traders who can handle risks can unlock access to leverage of up to 1:400. Negative balance protection ensures the clients can’t lose more than they have invested. 

One extremely important fact is MiFID compliance. This particular set of rules is designed to prevent money laundering tendencies. MiFID is forcing brokers to be fully transparent in terms of all their transactions. Apart from that, they have to integrate special customer protection protocols.

As explained, Benchmark Finance is heavily regulated and its brokerage activities in the entire EU zone are supervised by more than one license issuer. 

Benchmark Finance Account Types Available

Before getting access to tradable assets, investors have to open a live trading account. There’s no complicated division between account types at Benchmark Finance. The only two account types differ only in terms of leverage:

• Retail trading account (leverage up to 1:30)
• Professional trading account (leverage up to 1:400)

Every live trading account provides access to a range of markets and trading instruments. Apart from the easy registration process that doesn’t take more than 15 minutes, traders can invest as much as they wish. There is no minimum deposit requirement. 

In case you don’t have investment plans before joining, you can practice trading with virtual funds from a Demo account for a limited time. 

Trading Software Overview

Traders will inevitably be very pleased to discover that Benchmark Finance offers two most widely used and respected platforms today: MetaTrader 4 and MetaTrader 5. MetaQuotes platforms hold supremacy over all other trading terminals today for several reasons. Although MT5 came after its famous predecessor, it is an entirely new platform with new progressive features.  

If we were to compare the two software, there would be differences in terms of the number of options and new, original installments. While you can buy and sell Forex, stocks, commodities, and indices on both terminals, MT5 includes more stocks. Future technical account and netting account is only available from MT5.  Hedging accounts, Expert Advisors, and custom indicators are optional on both platforms. 

Benchmark Finance provides download links for MT4 and MT5 so you can install them on your desktop platform or mobile device. If you prefer not to install anything on your platform, you can always choose the web-based MT4/MT5 distribution.

Benchmark Finance Trading Instrument  

All you need to start trading at Benchmark Finance is a single live account that will give you access to choose from a range of 30 000 instruments. Spreads on EUR/USD start from 0.6 pips and the leverage can go up to 1:30 for retail traders. These are the groups of tradable assets: 

• Over 180 major and minor currency pairs (EURUSD, GBPUSD, USDJPY, USDCHF, AUDCAD)
• CFDs on stocks with $0.05 commission per share (Apple, Amazon, Facebook, Coca Cola, Google, Tesla, Citigroup, BMW)
• CFDs on indices with spreads from 0.7 pips (US30, SPX500, NAS100, GER30, UK100)
• CFDs on commodities (Gold, silver, platinum, palladium, copper, WTI oil, Brent oil, natural gas)
• Cryptocurrencies (Bitcoin, Ether, Ripple, Litecoin, Bitcoin cash)

Deposits and Withdrawals Process

Not imposing any deposit requirements is definitely an attractive feature that Benchmark Finance offers. Funding your account is available via two major channels:

• Bank wire transfers
• Credit/debit cards

Transactions are completely free and Benchmark Finance will not force additional fees or commissions for deposits and withdrawals. Credit/Debit Card issuing banks may, on the other hand, charge you in the process. 

Depending on the payment method you choose, funds you deposit may instantly appear on your account or take a short time to transfer. The withdrawal procedure doesn’t take more than 30 minutes to process. 

Education and Resources 

Benchmark Finance has designed several comprehensive ways of learning that you can access for free directly on the broker’s website:

• Video tutorials
• PDF tutorials
• Trading basics

Video tutorials consist of pre-recorded lessons uploaded to the YouTube platform. Mentorship of this type can be very helpful. It offers in-depth explanations on particular subjects such as Forex trading, fundamental analysis, technical analysis, CFD trading, and principles of price behavior.

PDF tutorials are written guides with step-by-step explanations and pictures showing how to do particular things and handle issues. That’s how you can download directly from the broker’s page PDF documents with MT4 and MT5 tutorials on how to open an account and install the platform. 

The trading basics section offers various articles depending on every trader’s expertise. You can start developing your trading skills from scratch or improve your existing experience and knowledge.  

Customer Service

We have to admit the live chat service you can access directly from the site wasn’t as responsive as we anticipated. It’s important to know you always have alternative ways of communicating with customer service. These include: 

• For general information dial +44 203 769 5788 or write to [email protected]
• Account opening, deposits, and withdrawals are available on +44 203 769 5788 or [email protected]

Careful not to run into an issue during weekends though. Customer service is only available from 20:00 Sunday to 22:00 Friday. 

Benchmark Finance Overall Summary

Benchmark Finance is a proud holder of several reputable licenses from BaFin, CONSOB, CNMV, AMF, and a few others. Widely popular services are offered in numerous countries, although not all areas have access to the website. 

Trading on Benchmark Finance is safe and secure. Funds are fully protected and you can rest assured that no one can misuse your capital. Investing is available via credit/debit cards and bank wire transfers but without the E-wallets option. 

Either way, accessing the markets worldwide is provided through top-notch platforms – MetaTrader 4 and MetaTrader 5. Over 30 000 tradable instruments are in the game.

If you’re looking to perfect your trading knowledge and skills, rely on rich educational materials and responsive customer service for additional support.

FAQs About Benchmark Finance Brokers