When you’re trading forex, CFDs and other instruments that are tradable online, you can never have too much protection. An overwhelming number of companies is legit, but scam brokers have been known to appear, so a certain degree of caution is necessary. It’s always a good idea to check the broker you want to invest with. This is why we always do scam tests before recommending a broker.
In this article, we’ll talk about Berndale Capital. According to the research of the market, this is one of the most popular brokers in the industry. That’s why we decided to see if they’re indeed that legit. Read our honest analysis and see is Berndale a scam or a reliable broker.
Is Berndale Capital a Scam? | Regulation and Compliance
When you’re dealing with money – that is, if you’re a company that deals with finances – you have to be regulated by some national or international regulatory agency that’ll guarantee everything you do is legal. As we stated in our Berndale Capital Review 2017, this broker is under regulation of the Australian Securities and Investments Commission (ASIC). ASIC is a corporate, markets and financial services regulator that takes care of the country’s economic reputation, so you can be sure they’re doing their job properly.
Another proof this company is legit is the fact that Berndale is compliant with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. This means they are legally obligated to conduct their business in a transparent way, so you can be completely sure there won’t be any legal problems from their side. In the next part of this Is Berndale Capital a Scam? article, however, you can check out if you’re protected from malicious third-party influences, as well.
As already mentioned, apart from the money, your private information is another thing brokers must protect. This is because you need to share that data with the broker if you want to trade: in order to even create an account you have to provide your address, telephone number, email address and (in some case) number of your credit card. That’s why you want to be completely sure that the broker really takes care of this information.
Berndale has to collect it for business purposes, but you can be completely positive that nothing will be shared with a third party. The broker is committed to the privacy obligations under the National Privacy Principles (Privacy Act 1998), so we can conclude that you have absolutely nothing to worry about. They use a 256-bit RapidSSL system for this, which is one of the most advanced encryption systems out there at the moment.
Is Berndale Capital a Scam? | Conclusion
Is Berndale Capital a Scam? Here are the most important facts. First of all, Berndale is a regulated brokerage company. They’re regulated by ASIC and they operate in accordance with the Anti-Money Laundering Act. They comply with the Privacy Act as well, so they keep both your money and your information safe. All in all, we are completely sure this company is perfectly legit and we can sincerely recommend opening an account with Berndale Capital. If you’re looking for a trustworthy trading partner, this is certainly it.