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.
When you’re choosing your forex partner, you have to pick just the right one. When you’re investing money in a dynamic environment of the foreign exchange industry, you have to be 100% sure that your partner is completely reliable and that you will be provided with best trading services in the business. Anything worse than excellent would be a waste of time and money. That’s why we decided to introduce you to this global trading trendsetter. Berndale Capital is a forex brokerage company from Melbourne, Australia. The very instant the company entered the game, they set some new standards. Their team of financial and technical experts has developed what might become the next big story of forex trading. We have a comprehensive Berndale Capital review for you here, so read it and find out why this company is held in such high esteem.
Berndale Capital Review | Funding
If you want to invest some money, your first step (login) should be as simple as possible. As you well know, the very first thing you need to do is to open an account. In order to do so, you’ll have to register. Once you’re done with registration, you’ll choose the type of account you’d like to use. The process of registration is simple and fast. After you enter your personal information, such as name and date of birth, you can choose your account. By setting the investment bar that low Berndale makes trading affordable to anyone.
You can make your Berndale Capital deposit in various ways: available methods include credit cards (Visa, MasterCard, American Express), Skrill, FasaPay, Neteller and PayPal, but you can also use the old-fashioned way – bank wire. We tested every single one of these methods and we are happy to say that they work perfectly. Your funds will also be deposited very quickly, in a range from one hour (credit cards) to 48 hours (bank transfer). Depending on the way you deposit, there may also be a fee involved (1.95% for credit cards). Minimum Berndale Capital deposit is set to 25$, which is very acceptable in comparison to other forex brokers.
When it comes to Berndale Capital withdrawals, in order to provide you with the safest service possible, you’re required to fill out the withdrawal request form. Also, keep in mind that the withdrawal will be executed via the same method you used to deposit your money and no withdrawal fees will ever be charged by the broker (your bank may do so, though). There is no minimum withdrawal requirement.
The last thing we have to mention in this part of Berndale Capital review is safety. Actually, we won’t spend too many words on this subject. If you’re interested in a more detailed analysis of the broker’s security system, you can always check out our Is Berndale Capital a Scam? analysis. We have to mention, however, that the company is regulated by the Australian Securities and Investment Commission (ASIC) and we all know how important is to have a regulated broker on our side.
Once you complete your first deposit, you can start trading. Before you do, though, you will have to choose the account you’d like to use in trading. To check out the account options, just keep reading our Berndale Capital review!
Berndale Capital Review | Account Types
Every good broker should have a tendency to offer a diverse assortment of accounts. There are various kinds of traders: some are beginners, some professionals; some like to trade only every once in a while, others think of trading forex as a side job. Anyhow, we are glad that we can conclude that Berndale Capital has something for everyone.
Berndale has four account types which accept four different currencies: Australian dollars (AUD), American dollars (USD), British pounds (BPB) or euros (EUR). The leverage you can get with them goes up to 500:1, which is pretty commendable. We’ll start with the most basic account type called the STP (Straight Through Processing). With some brokers with this kind of account you get only an opportunity to trade, but with Berndale you get an opportunity to trade on a high level. For example, there are no commissions and you get your personal relationship manager. The second account is called STP Plus and requires only $50 as a deposit and comes with unmatched ECN (Electronic Communication Network) pricing. If you’re a big fan of ECN trading, though, you should consider becoming a holder of ECN Pro account ($2500), and if you want a brand new type of account management that includes customized commission structure, personal trade coach and private account liaison, you should contact the broker and apply for Institutional Grade Pricing service.
Next, we have to take a look at the trading platform this company uses, so stay with our Berndale Capital review to learn even more.
Some brokerage companies like to improvise with trading platforms, but there are also ones that like to play it safe and go classic. Berndale is among the latter and uses the trading platform that is now a standard in the industry and the most popular platform in the world of forex. We’re talking, of course, about MetaTrader 4 (MT4). Although released by MetaQuotes Software back in 2003, it’s still the best platform you can find on the market.
Berndale Capital MT4 platform is compatible with various operating systems – Windows, macOs, Linux, Android and iOS – and really is the most reliable platform we’ve ever tested. It may sound strange, but it’s actually considered better than the later model, MT5. It has no bugs, so you can always be sure that your trade will be processed in a right way. Furthermore, it has many interesting features that’ll definitely ease your first trading steps.
For example, MT4’s alerts and news will keep you informed on any issue that has to do with the forex market and trading in general. You’ll be fully aware of every possible impact on prices on the market, such as political shifts and business climate of certain countries. In addition, you can also use signals or rent a virtual server to operate your trading robot. All in all, there are numerous options you can explore here. But this is still not everything this broker has to offer. Although Berndale’s most important interest is providing services in trading forex, their trading platform also allows you to trade other instruments. In addition to selling and buying currency pairs, you can also trade CFDs, commodities and bonds, but what is particularly important to emphasize is that you can trade Bitcoin here, as well.
But even that is not all and more features are coming in the next paragraph of our Berndale Capital review.
Berndale Capital Review | App and Demo
Everyone knows that the forex market is extremely dynamic. And when we say extremely, we really do mean it. It’s the most liquid market in the world and there are thousands and thousands trades happening every second. Also, since the world has become a global village, pretty much anything can affect prices on the market. That’s why, if you want to be a really successful trader, you shouldn’t trade only when you’re sitting in front of your computer. You should trade more actively so that you don’t miss a thing.
With this company, dynamic trading is a must. Berndale Capital offers one of the best mobile apps in the industry, all completely free of any charges. That’s right; you don’t have to pay to trade whenever you want. With the Berndale app you’ll always have the right tools at your disposal, such as indicators and charts on your mobile device. We definitely think this is an opportunity you shouldn’t miss.
And since we’re talking about features you shouldn’t miss, it’d be foolish not to mention Berndale Capital demo account which allows you to practice in an extremely realistic environment. Without any investments you can experience real trading, develop your own trading strategy and get familiar with the trading platform in general. We think this is great both for beginners and experienced traders, and we advise you to open a demo account before opening a real one. With that, we have to switch to examining some other additional features. Stick around, Berndale Capital review has a lot more to offer!
Berndale Capital Review | Other Features
In forex trading (and online trading in general) speed is crucial. We can’t emphasize enough how important execution speed actually is. Let’s put it this way: if you trade on a platform that will process your every trade immediately, in less than a second, you’ll have much better chances to win. And you definitely can’t find a faster broker than this one.
Berndale Capital uses Fyrelink VPS, which is something that takes the speed of execution to a completely new level, guaranteeing you the fastest trades in the entire forex market. VPS stands for ‘Virtual Private Server’ and it significantly reduces dependence on the client’s hardware. By doing so, it minimizes the execution time of your trades, and the best thing is that almost anyone can install it.
Another cool service our Berndale Capital review has to mention in our analysis is Myfxbook, provider of an open forum where traders share ideas, strategies and trading experiences in general. On the forum you can choose between many different trading systems and access data for every system, so it can be quite helpful. Keep in mind, though, that the broker doesn’t offer this service for free: Myfxbook managers charge a small mark-up, which we actually consider quite a good deal for the service you’re getting.
If you’re a beginner in the foreign exchange industry, this paragraph might be extra valuable. At this point of Berndale Capital review, we need to discuss the ways you can learn all you need to know about forex. Another distinction between good and bad brokers can be found in the field of education, the good ones will always try to educate their clients, while the bad ones simply won’t care. And Berndale really does care about its traders.
First of all, Berndale Capital organizes webinars on a weekly basis. Every week the company’s head analyst hosts a webinar that’s completely interactive and modern. In other words, a professional will teach you how to deal with forex. Sounds good, right? Since it’s a real lecture, you can always ask if something isn’t clear or if you would like to learn more. Apart from that, every once in a while the broker will organize free forex workshops at their headquarters. There you can learn about many different forex-related things, like lot sizing or fundamental analysis.
On top of learning the most important things about trading, with Berndale you can always be completely informed on trading opportunities. Although there are signals on the trading platform, you can also check out Berndale Blog. There you can find the most important news releases and other interesting market-related information. The better you’re informed, the bigger chances you have!
Berndale Capital Review | Conclusion
There’s not much left to say at the end of this Berndale Capital review. It’s very simple to become a holder of their account and you’ll be done with both registration and deposit in a matter of minutes. As for the accounts, the company has some interesting options, but the most important one is that you can start trading with only $25!
When it comes to the trading platform, the broker provides you with the fastest trading platform there is. With their MT4 platform you will soon become a pro, especially if you take the advantage of their demo account. For extremely dynamic trading, you can download an application which is also completely free! You can choose if you want to trade forex, bonds, CFD’s or commodities, plus you have some other interesting options to choose from, such as Myfxbook.
All in all, we think Berndale is more than a capable broker. They really provide an excellent service and definitely set the bar quite high. Open an account with Berndale if you want a serious and professional company at your side, you can’t go wrong.