Our in-depth Bacera review will give you all the facts that you need to know before signing up with this broker. It is always best to know a thing or two about the company before depositing your hard-earned funds, and that is why our examination of their features will help you get to know Bacera a little bit better.
Bacera – About the Company
Bacera is a trading name of Bacera CO Pty Ltd, and the headquarters of this enterprise are located in Sydney, Australia. With almost eight years of experience, one could expect that all traces of a potential Bacera scam are gone, but this broker does not instill a lot of confidence. Even though it is regulated by ASIC, Bacera is not a broker that we would recommend and we are going to discuss all the reasons below.
The Safety and Security of Bacera
Since the broker is regulated by Australian Securities and Investment Commission also known as ASIC, it adheres to its rules and guidelines. ASIC is the super reliable regulator and the broker offers segregated accounts and investor compensation funds. ASIC ensures superior investor safety and since the broker maintained its license for these years, Bacera is a legit broker company.
Additionally, the broker is authorized and regulated by British Virgin Island Financial Services Commission (FSC). This further solidifies the broker’s image and reputation as it is overseen by two independent regulators.
The only thing remaining is if the broker’s services are this good.
Bacera Fees and Spreads
The website is messy and it takes some effort to find information about conditions and services. Spreads start from 1.2 pips, which is slightly above the industry average. The commission of 6 USD round turn is slightly below the industry average of 7 USD. Bacera seems competitive in the spreads and fees department, but we recommend extensive testing before trying anything real with them.
Bacera has a 20 USD commission for stock trading and only spreads for indices. The same policies are applied to metals and other commodities as commissions are zero, but spreads are charged. All spreads and fees are competitive and the broker is legit, making it possible to use their platform for trading.
Bacera Accounts, Deposits, and Withdrawals
Bacera offers two account types to appeal to all kinds of trading styles. Advantage and Alpha accounts will give you 30:1 leverage, and access to 29 currency pairs, 17 CFDs, and so on. This leverage is understandable as the Australian ASIC prohibits brokers from giving their traders higher leverage. Professional clients and traders from BVI jurisdiction can enjoy the leverage of up to 1:400. The spreads are within the average and start from 1.2 pips for major pairs on the Advantage account which also happens to be a commission-free account. The alpha account seems the alternative to ECN accounts as it offers spreads from 0 pips and 6 USD commission, we assume this is a round turn, but not entirely sure. A demo account is also present, but it has a limit of 30 days.
Funding Options
Of course, the quality of banking options also played a part in creating our Bacera opinions, but it seems that this broker just offers a standard set of features when it comes to depositing and withdrawing funds. In other words, clients can use credit cards, e-wallets, or bank wire transfers to fund their accounts and collect their potential profits.
Trading platform
The software solution used by Bacera Broker was Pro Trader, but the broker made the right choice of introducing an MT4 to their clients. Traders can interact with the portal on various devices, such as Mac, Windows, Android, and iOS.
Bonus features
Our Bacera opinion would not be complete without a brief insight into the bonuses and trading incentives provided by the broker in question. However, this company fails to provide clients with lucrative rewards, and all of their promotions and “generous gifts” are tied to highly demanding terms and conditions. lack of bonuses will make it difficult for this young broker to acquire a client base and get needed feedback to further improve their services.
Bacera Customer support
Bacera recently added the live chat option to their website, which is a huge improvement. Despite this positive change, the website is still unorganized and messy. It takes effort and extensive searching to find relevant information about the broker’s services. Their team members can be reached via phone, fax, or e-mail, and there is also an address for their Sydney-based offices. The support services are satisfying and we are glad to see the improvements in this needed aspect. We hope the broker does the same with the website and makes it look more professional and less like a children’s playground.
Education offered by Bacera
Bacera’s educational page is more like an advertisement for the company rather than an educational resource. There are more than enough reasons listed why the broker is excellent, but the actual materials to gain knowledge are lacking. There are super short explanations of what are CFDs and why you should trade them with Bacera. We are not sure why the broker decided to call this section education and not an advertisement for the company.
Should you consider Bacera? Review Conclusion
As you could see from our Bacera FX broker review, this trading provider still needs to put an effort into the quality of their website. The broker is legit and reliable and offers competitive services, but little improvements are still needed on the website’s quality. The main reasons we can not fully recommend this broker include messy, unorganized websites, scarce educational resources, and better alternatives when it comes to Forex brokers.
Is Bacera a regulated broker?
What are the fees and spreads offered by Bacera?
What account types and deposit options are available with Bacera?
What is the quality of customer support and educational resources at Bacera?
