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bgc

Regulated
United Kingdom
,
Since 2018
Last Updated:
63/100
Overall Score

Trading Conditions

Min Deposit:
N/A
Max Leverage:
1
Account Types
BasicBasicSwap-Free+1 more

User Reviews

Total Reviews
This Month
Avg Rating

Funding Methods

4 methods

Bank Transfer

bank transfer
3 days
Fee:
Free
Fee:
Free

Credit/Debit Cards

credit card
Instant
Fee:
Free
Fee:
Free

E-wallets

e wallet
Instant
Fee:
Free
Fee:
Free

Local Payment Methods

other
hours
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 82%, 2: License 85%, 3: Software 0%, 4: Spread 0%, 5: Account Type 22%, 6: Symbol 0%
Regulation
82%Excellent
License
85%Excellent
Software
0%Poor
Spread
0%Poor
Account Type
22%Poor
Symbol
0%Poor

Company Information

Full Name:BGC Brokers L.P
Founded:2018
Headquarters:United Kingdom
Enterprise Offices:2offices

Customer Support

Phone:
+1 646 346 7000
Live Chat:
business_hours
Response Time:
Languages:
English
Scroll Down
Editorial review
Updated

Broker Summary

What Wikilix has recorded about bgc: its history, the licences it holds, its trading conditions and its fees.

Introduction & Overview

Choosing a broker is important for any trader, whether they are new or experienced, because we live in a rapidly changing financial trading industry. Bgc is a trading broker and financial services company that aims to offer a reliable marketplace where users can find and trade on the financial markets. While the financial services industry has many brokers with several different offerings and ways to trade, it is essential for those interested in trading with bgc to understand the type of services bgc offers to ensure they are partnering with a reputable provider.

Bgc was founded as a broker that specializes in financial services. There is very little public information about when bgc was founded, its original corporate structure, and no publicly available information on the evolution or historical data on bgc. Due to this, it is difficult to track its history and growth over time. However, bgc is a broker and offers traders access to the financial markets, so we can assume that bgc is committed to providing financial market access. There is very limited information regarding bgc's leadership, its corporate office, and its original founding principles.Important features & products offered

Though there are no detailed reports outlining the products or trading instruments offered by bgc, it's safe to assume that brokers generally offer various financial markets (forex, commodities, indices, and in some cases, cryptocurrencies). The primary reason traders might choose to open a trading account at bgc will be due to introducing brokers providing access to the market via a trading platform and account services.

Based on limited evidence, it appears that bgc's goal will be to attract traders looking for quick and easy access to the market. However, without precise information regarding the range of products and services offered, traders are advised to conduct their due diligence and reach out to bgc to verify that it is indeed a reputable broker.

Licensing and compliance with regulatory authorities.

One of the most important factors in determining the reputation of any broker is regulatory oversight. Unfortunately, because there is limited information overall concerning bgcs regulatory licensing, it is difficult for potential clients to know if bgc is in compliance with any regulatory authority and whether or not the firm meets all industry standards.

Traders should take extra caution when trading with bgc and reach out directly to bgc to obtain confirmation of the company's licensing prior to opening an account.

Licence#

License Jurisdiction

Status

N/A

N/A

N/A

Trading Conditions and Platform Technology

Evaluating a broker's competitiveness requires analyzing the broker's trading conditions (spread, leverage, and minimum deposit) and platform technology (trading platform).The ongoing rapid evolution and changing nature of online trading platforms make it increasingly important for traders in search of potential clients to conduct research into the features of these platforms. The following fundamental factors must also be taken into account when conducting research:

Trading Condition (Overview)

Spread: Not yet available

Leverage: Not yet available

Minimum Deposit: Not yet available

Trading Platforms: Not yet available

Fee Structure

Understanding how BGC's fee structure operates will assist traders in managing their trading costs as effectively as possible. As there is no publicly available deposit fee, withdrawal fee, or commission information for BGC, traders should contact BGC directly to find out the specifics of these fees. Reputable brokers will provide clear and transparent fee structures to their clients; however, absent this information from BGC, traders will need to do significant research before establishing accounts with BGC and should seek clarification from BGC directly on these fees.

Fee Description (Overview)

Deposit Fee: Not yet available

Withdrawal Fee: Not yet available

Commission: Not yet available

User Experience & Reputation in the Market

(Due to BGC's lack of significant user reviews and market analysis available to traders of the broker, it is difficult to accurately assess BGC's reputation. However, when selecting their broker, many traders prefer to work with brokers who are recognized for their consistent, accurate trade execution, responsive customer service and timely, clear communications.

It is recommended that anyone considering transferring funds to BGC look for personal reviews and testimonials from other clients, as well as conduct due diligence prior to transferring. Additionally, contacting the customer service department at BGC may also provide a reference indicative of BGC's professionalism and responsiveness.

Conclusion

To date, no comprehensive public information relating to BGC is available that will allow an accurate assessment of the broker or its services, regulatory status or trading conditions; therefore, all potential traders will need to be cautious and obtain clarification from BGC on the three items discussed above (licencing, fees and platform) prior to opening their accounts with BGC.

While BGC may provide its clients with outstanding customer service, regulations and transparency of operations are critical factors in supporting a trustworthy trading environment; therefore, traders should conduct comprehensive reviews prior to agreeing to work with a broker.

Regulation check

Regulatory Licenses

bgc is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked row is not a finding either way.

0 of 3 checked
Licences on record
3
Confirmed on register
0
Tier 1 or 2
3
Offshore
0

How far our check got

  • 3 not yet checked
  • FCATier 1United KingdomMarket Making(MM)No. 454814

    What the register says

    Licence number
    454814
    Type
    Market Making(MM)

    Client protection under this licence

    • Compensation schemeUp to £85000 (FSCS)
    • Client money kept separate
    • Negative balance protection
    • Complaints routeFinancial Ombudsman Service
    • Maximum leverage1:30

    These are the rules FCA sets for the firms it licenses. They are not a statement about how bgc applies them, or about which of its companies would hold your account.

    About Financial Conduct Authority

    Onshore regulatorGovernment bodyCompensation: Up to £85000 (FSCS)Public registerTransparency: high
    Typical cost of this licence
    £100000+ (including compliance setup)
    Open the full licence record
  • SECTier 1 (securities)United StatesFinancial ServiceNo. 1634997

    What the register says

    Licence number
    1634997
    Type
    Financial Service

    Client protection under this licence

    • Compensation schemeSIPC insures up to $500,000 per customer (including $250,000 cash)
    • Complaints routeSEC Tips/Complaints/Referral
    • Maximum leverage1:50

    These are the rules SEC sets for the firms it licenses. They are not a statement about how bgc applies them, or about which of its companies would hold your account.

    About Securities and Exchange Commission

    Onshore regulatorGovernment bodyCompensation: SIPC insures up to $500,000 per customer (including $250,000 cash)Public registerTransparency: medium
    Typical cost of this licence
    Varies; FINRA and SEC registration fees
    Open the full licence record
  • MASTier 1SingaporeFinancial Service

    What the register says

    Type
    Financial Service

    Client protection under this licence

    • No compensation schemeNo mandatory insurance (but strict fund segregation)
    • Complaints routeFIDReC
    • Maximum leverage1:20

    These are the rules MAS sets for the firms it licenses. They are not a statement about how bgc applies them, or about which of its companies would hold your account.

    About Monetary Authority of Singapore

    Onshore regulatorGovernment bodyCompensation: No mandatory insurance (but strict fund segregation)Public registerTransparency: high
    Typical cost of this licence
    SGD 500000+
    Open the full licence record
Trading accounts
Updated

Account Types

4 account types on record. Leverage up to 1:1.

4 account types
AccountMin DepositLeverageCommission
BasicStandardNot recorded1:1Not specified
BasicStandardNot recorded1:1Not specified
Swap-FreeNot recorded1:1Not specified
BasicStandardNot recorded1:1Not specified
Account names and conditions as published by bgc, recorded by Wikilix.
Deposits & withdrawals

Funding Methods

4 ways to fund an account. 2 credit instantly.

4 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Bank TransferBank Transfer
Processing times may vary depending on bank and transfer type; generally available worldwide.
Not recordedNot recordedUSD 20,000Not recordedNot recorded3 days
Credit/Debit CardsCredit Card
Some banks may charge processing fees; widely accepted though some regional restrictions may apply.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
E-walletsE-Wallet
Processing times vary depending on e-wallet service; popular in many regions but not universally accepted.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Local Payment MethodsOtherAvailability and processing times vary by region.Not recordedNot recordedNot recordedNot recordedNot recordedhour
Fees, limits and processing times as published by bgc, recorded by Wikilix.
Websites

Global Domains

One domain on record. All active and served over HTTPS.

1 domain
  • bgcpartners.comListed domainActiveHTTPS
Domains recorded by Wikilix. Only a domain listed here is known to belong to this broker.
Social channels

Social Presence

2 official channels on record.

2 channels
Channels as published by the broker, recorded by Wikilix.
Legal entities

Corporate Network

2 legal entities behind the bgc brand.

2 entities
  • BGC GROUP, INC.ActiveUnited StatesRegistration 5570842Established Apr 20, 2021
  • BGC BROKERS L.P.ActiveUnited KingdomRegistration LP011453Established Sep 13, 2018
Entities named in the broker's own documents and company registers, recorded by Wikilix.

Comments

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