Overall, Benchmark Finance offers trading in over 30 000 financial securities on the international financial markets. This includes over 19 000 stocks on 36 world stock exchanges, over 200 futures contracts, over 180 currency pairs, 9000 CFDs. With 0.1 minimum spread eur/usd & 1:400 leverage.
BenchMark Finance at a glance
| Broker's Name | Benchmark Finance |
| 🏛️ Headquartered | Bulgaria |
| 📅 Year Founded | 2003 |
| ⚖️ Regulating Authorities | FSC, CNMV, BaFin, CONSOB and AMF |
| ⏳ BaFin | Number 5279 |
| ⏳ CONSOB | Number 75973 |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | Yes |
| 📎Sign up Bonus | No |
| 👍 Demo Account | Yes |
| 📌 Account types | One account for live trading |
| 📎 Commission | 0% deposit and withdrawal fees |
| 📎 Spreads | 0.1 minimum spread eur/usd |
| 📎 Leverage | 1:400 leverage |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:30 for retail and 1:400 for professional |
| 💰 Minimum Deposit | $ 0 |
| 💳 Deposit Options | Debit Cards, Credit cards, Bank Wire Transfer, Funds Transfer |
| 💳 Withdrawal Options | Debit Cards, Credit Cards, Bank Wire Transfer, Funds Transfer |
| 💻 Platform Types | MetaTrader 4, MetaTrader 5 |
| 📱 OS Compatibility | Web browsers, Windows, Linux iOS, Android |
| 📈 Tradable assets offered | Forex, Stocks, Metals, Oil, Indices, Cryptocurrencies, Futures and CFDs |
| 👨💼 Languages supported on Website | English, Russian, Turkish, Spanish, French, German, Chinese, Polish, Bulgarian |
| 👥 Customer Support Languages | Multilingual |
| 📆 Customer Service Hours | 24/5 |
Min Deposit
USD 0
Regulators
FSC, CNMV, BaFin, CONSOB, AMF
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
180
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BenchMark Finance Review – 18 key points quick overview:
BenchMark Finance at a glance- Benchmark Finance Overview
- BenchMark Finance, Safe or scam
- BenchMark Finance Leverage
- BenchMark Finance Accounts
- BenchMark Finance Market instruments
- BenchMark Finance Fees
- BenchMark Finance Deposit and withdrawal
- BenchMark Finance Trading platforms
- How to open a BenchMark Finance account
- BenchMark Finance Pros and Cons
- BenchMark Finance Customer support
- BenchMark Finance Education
- BenchMark Finance Research
- BenchMark Finance Awards
- BenchMark Finance Conclusion
- BenchMark Finance Disclaimer
- Frequently Asked Questions
Benchmark Finance Overview
According to research in South Africa, Benchmark Finance is a Bulgarian-based STP and NDD broker that has been in operation since 2003.
The investment intermediary is licensed by Financial Supervision Commission and under the Markets in Financial Instruments Directive, also known as MiFID.
Although the broker’s headquarters are in Bulgaria, it has several other offices all over Europe. The broker is regulated and authorized by various regulatory entities depending on the jurisdiction that which it operates.
Client funds are kept with top-tier banks, separate from Benchmark Finance’s own funds, and the broker makes use of SSL to encrypt data before they are sent to the servers.
Benchmark Finance offers trading in over 30 000 financial securities on the international financial markets. This includes over 19 000 stocks on 36 world stock exchanges, over 200 futures contracts, over 180 currency pairs, 9000 CFDs, and many more.
Trading is offered through the popular and renowned MetaTrader 4 and MetaTrader 5 platforms on various devices that include desktop, web, windows, Android, and iOS.
Benchmark Finance only uses the latest innovative technology in addition to operating a No Dealing Desk, or NDD, which ensures that there are no requotes. The NDD model, also provides maximum transparency as well as accountability where trade executions are concerned.
Quotes are given directly from top liquidity providers, including 10 of the leading banks in the world. Benchmark Finance also uses the server infrastructure of the Equinox Data Centre in New York, which ensures optical networks which span across the globe.
Customers from the United States are not accepted as clients at Benchmark Finance.
BenchMark Finance, Safe or scam
When traders evaluate brokers, regulation is one of the most crucial components that must be considered. Regulated brokers are required to comply with stringent rules and regulations set by regulatory entities and through this, client fund security can be ensured.
Benchmark Finance is a broker that is authorized and regulated by various regulatory bodies as it has operation offices all over Europe.
In Bulgaria, the regulating body is The Financial Supervision Commission (FSC), in Spain the National Securities Numbering Agency (CNMV), in Germany it is the Germany Federal Financial Supervisory Authority (BaFin), in Italy the Italian Companies and Exchange Commission (CONSOB), in the United Kingdom the Financial Conduct Authority (FCA) and in France the France Financial Markets Regulator (AMF).
Benchmark Finance keeps client funds in segregated accounts with top-tier banks such as UniCredit, Bulbank, Raiffeisen Bank, Allianz Bank, and Caixa Bank.
The broker also makes use of a 128-bit Secured Socket Layer (SSL) to secure the website as well as platform. This means that all data is encrypted before it is transmitted to various servers.
In addition to all the above-mentioned securities, Benchmark Finance is also licensed under the Markets in Financial Instruments Directive (MiFID). It is also a registered member of the Investor Compensation Fund (ICF). Eligible clients are thus offered with a form of insurance on their deposits.
Should the broker go bankrupt or become liquidated, the ICF pays eligible clients with compensations of up to € 20 000 through the United Bulgarian Bank AD.
BenchMark Finance Leverage
Leverage is a tool that is offered by numerous brokers to traders. With leverage, traders can open larger positions, allowing traders more exposures to the market in which they are trading despite their initial deposit.
However, as beneficial as leverage may be, it can also be detrimental when used incorrectly or abused. Leverage increases a trader’s chance of gains and thus, it also increases the risk of losses.
Traders are at risk of incurring losses that may exceed their initial deposit, leading to a negative balance on their trading account if the trader does not have the benefit of negative balance protection.
Leverage is expressed as a ratio, for instance, 1:1, 1:50, 1:100, 1:500, and even up to 1:3000. Leverage and margin go together, with margin being the amount required from the trader at the start of the trade. This amount serves as collateral for any credit risks which may arise.
When traders apply leverage, the margin requirement is reduced, and the trader can open larger positions.
Since Benchmark Finance offers a choice between a Retail Account and a Professional Account the leverage that can be expected on different financial instruments are as follows:
Retail Account
- Forex majors – 1:30.
- Major indices – 1:20.
- Gold – 1:20.
- Oil and gas – 1:10.
- Stocks – 1:5.
- Cryptocurrencies – 1:2
Professional Account
- Forex majors – 1:400.
- Major indices – 1:200.
- Gold – 1:200.
- Oil and gas – 1:100
- Stocks – 1:10
- Cryptocurrencies – 1:10.
Min Deposit
USD 0
Regulators
FSC, CNMV, BaFin, CONSOB, AMF
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
180
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BenchMark Finance Accounts
| 💠Feature | 📈 Retail Account Option | 📈 Professional Account Option |
| 💵 Minimum Deposit | $ 0 USD | $ 0 USD |
| 📌 Trading Instruments | forex, CFDs and precious metals | forex, CFDs and precious metals |
| 💰 Spreads | from 0.1 pips | from 0.1 pips |
| 📊 Leverage | 1:400 leverage | 1:400 leverage |
| 📌 Platforms | Available on MT4, MT5 | Available on MT4, MT5 |
A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments. Brokers may offer traders either with a variety of accounts, with each catering for varying levels of skill, knowledge, and experience, or a single account that can be used.
Benchmark Finance offers traders only the option of opening a Retail account or a Professional account and both accounts can run either through the MetaTrader 4 or MetaTrader 5 platform.
On the Retail Account, the following features can be expected:
- Suitable for beginners or more advanced traders.
- No minimum deposit requirement.
- Spreads start from 0.1 pips EUR/USD.
- A maximum leverage ratio of 1:30.
- Commission-free trading on forex, metals, oil, indices, and cryptocurrencies.
- Stop-out level of 30%.
- Access to all tradable financial instruments.
- Access to automatic execution.
- Hedging without margin.
- No restrictions on stop/limit.
- Access to Expert Advisors.
- Access to real-time quotes.
The Professional Account has similar features as the Retail Account with a few differences. Here traders have access to higher leverage of up to 1:400, a stop-out level of 20% and access to awards as well as loyalty bonuses when they are available.
Professional traders are assumed to have gained adequate experience as well as knowledge in managing and mitigating their risks. With Benchmark Finance traders who want to be considered for a professional account, must meet certain criteria. They must qualify for two of the following three criteria:
- Traders must have worked in a position for over a year which requires knowledge of Benchmark Finance’s transactions and services.
- Traders must own a portfolio consisting of both financial instruments and cash worth more than € 500 000 which includes savings, bank deposits, securities, and other portfolios.
- Traders must have made an average of ten trades of significant volume in the past four quarters. This includes volumes that have been traded with other investment intermediaries in the country and/or internationally.
Demo Account
With Benchmark Finance the demo account has access to all the financial instruments on offer. Virtual funds up to $ 100 000 is available and they can trade in real-time market conditions.
Customer support is available 24/5 and traders can also make us of various free educations tools and resources.
Trading is done on the MetaTrader 5 platform and once you are registered, traders can make use of either the Web portal, desktop version, or the mobile app.
Islamic Account Option
An Islamic Account caters specifically for Muslim traders who strictly follow Sharia law. This law prevents its Muslim followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are usually charged when traders hold positions open for longer after the trading day has concluded. Clients who hold an Islamic Account is exempt from such fees, or interest, should they hold positions open for longer.
Unfortunately, traders do not have the option of opening an Islamic Account with Benchmark Finance as it does not offer this.
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BenchMark Finance Market instruments
With Benchmark Finance traders are offered a choice of over 30 000 financial instruments. Some of the conditions of trading with these instruments are as follows:
- Over 180 forex pairs – offers commission-free trading with spreads starting from 0.1 pips EUR/USD.
- Over 19 000 stocks – offers commissions from $ 0.05 per share with a margin requirement of 10%.
- Metals – spread start from $ 0.25 in gold trading and a margin requirement from 0.5%.
- Oil – spreads start from $ 0.04 in oil trading and $ 0.01 in gas trading and a margin requirement of 1%.
- Indices – spreads start from 0.5 pips with a margin requirement from 0.5%.
- Cryptocurrencies – spreads start from $ 0.005 with margin requirements from 10% on the professional account and 50% on the retail account.
- Over 200 future contracts.
- Around 9 000 CFDs.
Min Deposit
USD 0
Regulators
FSC, CNMV, BaFin, CONSOB, AMF
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
180
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BenchMark Finance Fees
Another crucial factor that traders must consider when evaluating a broker is the fees that they will incur. These fees relate to both trading and non-trading activities and actions.
Trading Fees
Benchmark Finance’s floating spreads start from 0.1 pips and are determined on the financial instrument, the type of account, and the market conditions experienced.
The broker does not charge any commissions on most financial instruments except stocks, where traders are subjected to commissions of $ 0.05 per share.
Non-trading fees
Where non-trading fees are considered, traders must consider fees relating to account inactivity, deposit and withdrawal fees, account management and maintenance fees, currency conversion fees, and others.
With Benchmark Finance traders do not pay any deposit fees or withdrawal fees on any of the payment methods on offer with the broker.
It is not clear on Benchmark Finance’s website whether there are any additional broker fees such as currency conversion fees, inactivity fees or account maintenance and management fees charged.
Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
BenchMark Finance Deposit and withdrawal
When evaluating brokers, the effortlessness with which deposits and withdrawals can be made is another imperative factor to consider.
As funds are kept in segregated accounts they must be available for withdrawal at any given time when a request is made by the trader and subsequent owner of the trading account.
With Benchmark Finance traders only have the option of using the following payment methods when making a deposit or withdrawing funds, namely Debit Cards, Credit Cards, Bank Wire Transfer, and Fund Transfer.
With several other brokers, a variety of payment methods is usually offered such as Skrill, Bitcoin, Neteller, and many others. With Benchmark Finance only a few reliable payment methods are available through which large amounts of funds can be securely transferred.
There are no fees charged when traders make use of any of these payment methods and all deposits and withdrawals are claimed by the broker to be processed within 30 minutes.
BenchMark Finance Trading platforms
The trading platform is the software that traders make use of to execute their trades and each broker reserves the right to offer their own preferred trading platform. Some brokers offer a variety of third-party platforms, while others offer their own proprietary platforms if they have one.
Benchmark Finance offers traders the option to choose between the two most preferred and globally known platforms, MetaTrader 4 or MetaTrader 5.
The following options are offered when traders utilize the MetaTrader 4 platform in conjunction with a Benchmark Finance account:
- Tight spreads.
- NDD execution on trades.
- Charts are easy to use and dynamic.
- A lightweight workspace.
- Custom scripts, indicators, and expert advisor compatibility.
On utilizing the MetaTrader 5 platform in conjunction with a Benchmark Finance account, traders can expect the following:
- NDD trade execution.
- Tight and competitive spreads start from 0.1 pips on the EUR/USD currency pair.
- A vast variety of technical indicators.
- Easy navigation and charts which support multi-functionality.
- Custom scripts along with indicators and compatibility.
- Expert advisors.
- The use of hedging and netting in trading.
Both these platforms are well known among traders and are reliable and trustworthy. MetaTrader 5 is the more robust and revised version of the immensely popular MetaTrader 4, and both platforms are widely used across the financial industry.
Another advantage is that both platforms can be used across all devices, with seamless integration of the trading account. Traders can use the trading platforms on their web browsers, or they can download the software on their desktops or mobile devices. Both are compatible with Android and iOS devices.
How to open a BenchMark Finance account
1. Step 1 – Register an account
Select the “create an account” option on the website.
To open an account with Benchmark Finance, traders can click on ‘Live Account’ at the top of the homepage. This will redirect to a new page where traders have to choose between opening the account on the MetaTrader 4 or MetaTrader 5 platform. You are offered some information on the features that can be expected.
2. Step 2 – Complete information
It also contains a digital application where traders need to fill in the account currency they want to use, their full name, email, and telephone number. They also must choose a password.
Next prospected clients need to accept the Agreement for trading in financial instruments, the terms, and conditions for trading, and the broker’s privacy policy.
Traders will receive a verification email at the address that they provided. Once traders click on ‘Verify your email’, they will be redirected back to the broker’s website.
The entire process to register for a live account take about 10 minutes.
BenchMark Finance vs AvaTrade vs XTB – A Comparison
| 🔎 Broker | 🥇 BenchMark Finance | 🥉 AvaTrade | 🥉 XTB |
| 📌 Headquarters | Bulgaria | Dublin, Ireland | Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK |
| 📌Minimum Deposit | $0 / R 0.00 ZAR | $ 100 / R 1600 ZAR | $ 10 / R 160 ZAR |
| 📌 Available Languages | English, Russian, Turkish, Spanish, French, German, Chinese, Polish, Bulgarian | English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. |
| 💻 Demo account | yes | yes | yes |
| 💵 Excluded Countries | US | BE, BR, NZ, US, KE, IN, GH | US, IN, PK, BD, IQ, IR, IL, AF, AU, CA |
| 📌 Regulated by | FSC, CNMV, BaFin, CONSOB and AMF | AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006. | XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002. |
| 📌 Forex | yes | yes | yes |
| ✔️ Web Platform | Yes | yes | Yes |
| 💰Android App | Yes | yes | Yes |
BenchMark Finance Pros and Cons
| ✔️ Pros | ❌ Cons |
| Demo account offered | Limited account currencies accepted |
| Offers commission-free trading on most financial instruments | Limited payment methods |
| Offers tight spreads | No Islamic Account offered |
| Over 30 000 financial instruments to trade with | No US clients accepted |
| Trading done on MetaTrader 4 and MetaTrader 5 | Restricted leverage for retail clients |
| Well-regulated though various regulatory entities in the European jurisdiction | No referral bonus offered |
| Offers competitive and attractive trading conditions | No welcome bonus, deposit bonus, and no other broker bonuses offered with first time sign up |
| Can access all free educational resources on offer | Demo account expires after 30-days |
| Demo account sign-up fully digital | Only offer MetaTrader 5 for demo account offered |
| Have access to all tradable financial instruments | |
| Offers adequate virtual funds and have an option to add more | |
| Sign-up completed in minutes |
BenchMark Finance Customer support
Benchmark Finance can be contacted either by making use of the Live Chat function, telephone or via email. The contact details are provided on the broker’s website.
BenchMark Finance Education
Educational tools, resources, and materials provided by brokers are extremely helpful, especially for beginner traders who do not yet know how to navigate trading or the markets.
With Benchmark Finance various educational materials, tools, and resources are provided to assist especially beginner traders.
Benchmark Finance offers 12 Trading Video Tutorial which introduces traders to various trading terms, techniques, analysis, indicators, strategies, and trading psychology. The average length of these videos is more than 2 hours.
Traders are also offered various PDF eBooks which can be downloaded and serve the purpose of teaching traders how to navigate and use MetaTrader 4 and MetaTrader 5 platforms.
There is a section on Trading Basics that contains a series of articles that are grouped together for different trading levels namely beginners, intermediate, and advanced.
BenchMark Finance Research
Besides the educational tools on offer with Benchmark Finance, the broker also offers a number or research tools which is aimed at more advanced traders. Research tools help traders in their activities in addition to helping them hone their skills in making informed trading decisions.
Benchmark Finance offers traders the following trading and research tools, namely MetaTrader VPS, Market sentiment, Economic Calendar, various calculators such as exchange, swap, margins, risks, and stop-out, and Financial radar.
In addition, MetaTrader 4 and MetaTrader 5 both offer traders a wide variety of trading tools, materials, and resources that can be used to the advantage of the trader.
BenchMark Finance Awards
Benchmark Finance is a well-known and established broker in the European Market which is regulated and authorized by many reputable entities.
On the broker’s website, it states that it has won several awards in categories such as ‘Investment intermediary’. It also made contributions to the development of the non-banking financial sector as well as contributions to the development of the capital market for which it has received awards.
BenchMark Finance Conclusion
Overall, Benchmark Finance offers trading in over 30 000 financial securities on the international financial markets. This includes over 19 000 stocks on 36 world stock exchanges, over 200 futures contracts, over 180 currency pairs, 9000 CFDs. With 0.1 minimum spread Eur/USD & 1:400 leverage.
With Benchmark Finance traders can rest assured that they are dealing with a well-known, multi-regulated, and reputable broker. It offers traders with some of the best trading solutions and services in the industry.
Benchmark Finance is well-regulated through several highly reputable regulatory entities and offers eligible traders with insurance on deposits. Liquidity is obtained from top-tier liquidity providers and traders are offered the best possible pricing and execution speeds.
Although Benchmark Finance only offers a Retail and Professional account, the trading conditions and features of both accounts are unique and dynamic. The broker caters for the needs of both the beginner and the more advanced trader.
The trading conditions are competitive, and the trading and non-trading fees are both favorable and transparent. The broker website is informative and offers information without much searching.
The broker also offers many education and research to traders despite their level of trading experience. Offering to trade on the popular MetaTrader 4 and MetaTrader 5 is an added but essential bonus.
Min Deposit
USD 0
Regulators
FSC, CNMV, BaFin, CONSOB, AMF
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
180
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BenchMark Finance Disclaimer
Benchmark Finance warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors, according to research done in South Africa.
Potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose, before deciding to trade with Benchmark Finance.
The broker also warns that margin trading involves the potential for profit as well as the risk of loss. Movements in the price of foreign exchange and commodities are very unpredictable, hence Benchmark Finance cannot guarantee a maximum loss that a trader may suffer.
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Frequently Asked Questions
Trading environment
How many instruments can I trade with Benchmark Finance?
You can trade any of the following:
- Forex
- Stocks
- Metals
- Oil
- Indices
- Cryptocurrencies
- Futures
- CFDs
Which platforms are supported by Benchmark Finance?
MetaTrader 4 and MetaTrader 5.
Does Benchmark Finance offer leverage?
Yes. Retail clients have access to leverage up to 1:30 while professional clients have leverage up to 1:400.
What spreads can I expect with Benchmark Finance?
- Spreads from 0.1 pips EUR/USD on Forex.
- Spreads from $ 0.25 in gold trading.
- Spreads from $ 0.04 in oil trading and $ 0.01 in gas trading
- Spreads from 0.5 pips on Indices.
- An average spreads from 0.005 USD on Cryptocurrencies.
Does Benchmark Finance charge commission?
Yes. There are commissions charged on shares from $ 0.05 per share.
Is Benchmark Finance regulated?
Yes. Benchmark Finance is strictly regulated by FCA, CNMV, AMF, and BaFin.
Is Benchmark Finance a recommended forex trading broker for experts and beginners?
Yes. Benchmark Finance offers an ideal environment for both beginners and experts.
What is the overall rating out of 10 for Benchmark Finance?
8/10.
Accounts
What is the difference between a demo and a live trading account?
A demo account is an account funded with virtual money that allows for risk-free trading while a live trading account requires actual capital.
With a demo account, traders can safely explore the broker’s offer, practice trading, or test out the trading strategies that they wish to use in a live trading environment.
Does Benchmark Finance offer a demo account?
Yes.
How long is the demo account valid?
Demo accounts are often valid for 30 days.
Which live trading accounts does Benchmark Finance offer?
Benchmark Finance only offers a single Retail Account and Professional Account.
What are the available deposit currencies for a live trading account?
USD and EUR.
Deposits and withdrawals
What is the minimum deposit for Benchmark Finance?
$ 0.
How do you make a deposit and withdrawal with Benchmark Finance?
You can use any of the following:
- Debit Cards
- Credit Cards
- Bank Wire Transfer
- Funds Transfer
Does Benchmark Finance charge withdrawal fees?
No. Benchmark Finance does not charge any withdrawal fees but there may be fees waived by the trader’s bank.
How long does it take to make a withdrawal?
Benchmark Finance indicates that all withdrawals, despite the payment method, takes up to 30 minutes to process.
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