Beraringfx Review 2024: Is Beraringfx legit？

What is Beraringfx?

Beraringfx (BRI) is a forex broker registered in the UK in 2017. The broker primarily provides trading services in a variety of financial derivatives, including forex contracts for difference (CFDs). Additionally, the broker offers online trading technology support and customer services to assist clients in various financial transactions. The trading software used by the broker is MetaTrader 5, a platform widely utilized in financial markets supporting the trading of forex, stocks, futures, and other financial products.

Beraringfx's business scope covers multiple regions including Asia, Europe, and Oceania. The company's global business expansion reflects its influence and growth objectives in the financial services sector.

What is the background of Beraringfx?

Beraring International Co., Ltd is a privately-owned limited company registered in the UK in 2017, with the company number 10932961. The registered address is at Chase Business Centre, 39-41 Chase Side, London, England, N14 5BP, United Kingdom. It is understood that the company's official domain name was registered on March 20, 2020, and has been around for approximately four years. According to its registration with the UK government, Beraring International Co., Ltd is mainly engaged in security and commodity contract brokerage activities. However, more detailed information about its specific business content, operational status, and market performance are not elaborated in public materials.

Is Beraringfx a regulated broker?

Beraring International Co., Ltd was established in 2017 with headquarters in the UK. Beraringfx is regulated by the Australian Securities and Investments Commission (ASIC) and holds the regulatory license number 001304187. The company's regulatory body is BERARING INTERNATIONAL PTY LTD, which indicates the company is supervised by regulatory agencies in terms of client transactions and fund safety. Investors should consider the regulatory status when choosing a broker to ensure the security and reliability of trading.

Deposit and Withdrawal Methods:

Beraringfx offers a variety of deposit and withdrawal options including support for local currencies, popular payment systems, electronic wallets, and cryptocurrency wallets. Most of the broker's accounts have a minimum deposit of $10, and deposit processing usually takes place within 24 hours. The minimum withdrawal amount varies depending on the method used: a minimum of $10 when using Bitcoin, USD Coin (USDC TRC20), and Tether (USDT TRC20); and a minimum of $100 when using bank cards, USD Coin (USDC ERC20), and Tether (USDT ERC20). Withdrawal processing times are also typically within 24 hours.

What is the minimum deposit for Beraringfx?

The minimum deposit amount for Beraringfx is as follows: the minimum amount for deposits using bank cards is $1000, while the minimum deposit amount for other payment methods is $10. Therefore, investors need to be aware of the different minimum deposit restrictions when choosing different payment methods.

Trading Software:

The trading software offered by Beraringfx is MT5 (MetaTrader 5). This is a feature-rich trading platform, supporting the trade of multiple financial instruments, including forex, metals, cryptocurrencies, stocks, indices, and energy, among others. The MT5 platform is known for its high customization and advanced trading tools and is suitable for traders of various levels. It offers a variety of features including real-time quotes, technical analysis tools, automated trading options, and more, designed to provide users with a comprehensive and efficient trading experience.

Features of MT5 software:

1. Supports over 200 trading instruments and 6 asset classes.
2. Offers 5 different account types, with spreads as low as 0.0 and starting commissions at 0.
3. Includes 8 order types, 21 time frames, and 3 chart types.
4. Features instant execution and market execution, a hedging system, 38 built-in indicators, 22 analytical tools.
5. Provides a built-in economic calendar, level 2 quotes, trailing stop, technical analysis, custom indicators, Expert Advisors (EAs), and scripts.
6. Compatible with Windows, macOS, and Linux operating systems, with web and mobile versions available.

How to register an MT5 account:

1. Run the trading terminal on a PC.
2. Select "File," then choose "Login to Trade Account."
3. Enter account number, trading password, and registration server information.
4. After successful login, a confirmation sound prompt will be heard.

How to Open a Beraringfx Account?

If traders want to open an account with Beraringfx, they need to first visit the official website. There is usually a clear registration or open account option on the official website. Clicking on the open account button, users need to fill in personal information according to the website's instructions and select the account type that suits them. In addition, identity verification documents are generally required to complete the registration process. After completing these steps, the account enters the review stage. Once the review is approved, users can start trading with the account.

Who are the partners of Beraringfx?

Beraringfx claims to have established partnerships with several well-known financial institutions. These partners include CFH Clearing, Sucden Financial, UBS (Union Bank of Switzerland), Deutsche Bank, ANZ Bank (Australia and New Zealand Bank), BNP PARIBAS (French Paris Bank), and IS Prime among others. Beraringfx's services include online trading of CFD contracts for markets, international futures, commodities, precious metals, and other types of financial derivatives. However, these partnerships have not been verified by the respective institutions, so it is recommended to conduct detailed research and verification before considering cooperation with the company.

Pros and Cons of Beraringfx:

Pros:

1. Wide range of products: As a forex broker, Beraringfx offers CFD contracts for various financial derivatives including forex, as well as online trading services for international futures, commodities, and precious metals.
2. Advanced trading platform: The company provides MetaTrader 5 (MT5) as its trading software, a powerful and popular trading platform.
3. Global business coverage: Business scope includes Asia, Europe, and Oceania, with a broad market coverage.
4. Regulated status: Beraringfx's subsidiary BERARING INTERNATIONAL PTY LTD holds the ASIC (Australian Securities Investment Commission) regulatory license.
5. Flexible deposit and withdrawal methods: Supports various payment systems in local currencies, electronic wallets, and cryptocurrency wallets, with quick deposit and withdrawal processing.

Cons:

1. Verification of information: Despite claims of partnerships with well-known financial institutions such as UBS, Deutsche Bank, ANZ Bank, these relationships have not been verified by these institutions.
2. Limited customer support: Although 24/7 customer support is provided, specific service quality and efficiency are not described in more detail or evaluated.
3. Minimum deposit difference: A relatively high minimum deposit of $1000 for bank cards.
4. Partner verification issue: The claimed list of partners includes several well-known institutions, but further verification or confirmation is lacking.

Customer Support:

Beraringfx provides a range of customer support services, including 24/7 support. The company's contact address is in the Wealth Commercial Centre on Kwong Wa Street in Mong Kok, Kowloon, Hong Kong, specifically OFFICE 5,13/F WEALTH COMMERCIAL CENTRE 48 KWONG WA STREET MONG KOK KOWLOON HONG KONG. Customers can contact the broker via email at info@beraringfx.com or by phone at +852 39040997. Beraringfx is committed to providing convenient and fast services for its clients, but the specific service quality and customer satisfaction need to be further understood.

Conclusion:

Beraringfx (BRI) is a forex broker registered in the UK, offering CFD trading in a variety of financial derivatives including forex, and supports online trading technology and customer service. The trading software is MetaTrader 5, with business regions covering Asia, Europe, and Oceania. Beraring International Co., Ltd holds an ASIC (AR) regulatory license and provides immediate withdrawals and 24/7 customer support services. Deposit and withdrawal methods include various local currencies and electronic wallets, with the minimum deposit for most accounts being $10.