BenchMark

BenchMark is an investment intermediary registered in Bulgaria, with its official office at 1407 Sofia, 32 Cherni vrah Blvd., ent. A. The company was founded on April 15, 2019, and operates under the BenchMark Group. The broker presents itself as a provider of forex and CFD trading services, targeting both retail and professional traders. Its website is available in multiple languages, with a focus on international clients.

Despite its claims of long-standing presence, official records indicate a relatively recent establishment. The broker is not regulated by any known financial authority, which is a significant consideration for potential clients. The registered address matches the contact details provided on the website, and the company maintains a presence on social media platforms such as Facebook, Instagram, and YouTube.

BenchMark offers the popular MetaTrader 5 and MetaTrader 4 trading platforms. These platforms are widely recognized for their advanced charting tools, automated trading capabilities (Expert Advisors), and user-friendly interfaces. The broker supports a variety of asset classes, including currency pairs, stocks, commodities, indices, cryptocurrencies, and ETFs. Trading is available as contracts for difference (CFDs), allowing clients to speculate on price movements without owning the underlying asset.

The website lists over 100 CFD stocks from major global exchanges, as well as precious metals (gold, silver, platinum, palladium), oil and natural gas, and popular indices. Cryptocurrency CFDs are also offered, covering major digital assets. The broker emphasizes tight spreads and low margin requirements across these instruments.

BenchMark categorizes clients into two types: Retail and Professional. Retail clients receive a maximum leverage of 1:30 and a stop-out level of 50%, aligning with standard European regulatory norms (though the broker is not EU-regulated). Professional clients can access significantly higher leverage of up to 1:400, with a lower stop-out level of 30% and priority support. To qualify as a professional, clients must meet at least two of three criteria related to trading volume, portfolio size, or professional experience.

The broker's website includes a comparison of retail and professional conditions, noting that professional clients are assumed to have greater experience and risk tolerance. The leverage differences are substantial, with professional clients requiring only €500 margin for a €100,000 EURUSD position versus €3,330 for retail clients. This structure may appeal to experienced traders seeking amplified exposure.

BenchMark accepts deposits via bank wire transfer and bank cards (likely debit/credit cards). The broker states that there are no fees for deposits or withdrawals, and wire transfers are processed within one hour during business hours (07:00-14:45 GMT, weekdays). The minimum deposit is not explicitly stated on the website, but the account opening page suggests no minimum. For wire transfers exceeding €15,000, clients must submit a declaration in compliance with anti-money laundering rules.

The broker does not accept third-party payments; all deposits must come from the account holder's own name. Withdrawal methods likely mirror deposit options. Account currency choices include EUR, USD, and BGN (Bulgarian lev). The broker provides bank details for United Bulgarian Bank for EUR transfers.

Customer support is available via telephone and email, with separate contacts for general inquiries, account opening, and deposits/withdrawals. Office hours are from 06:30 Monday to 15:30 Friday (GMT), while general support operates from 22:00 Sunday to 22:00 Friday. The broker offers a range of analytical tools, including market sentiment (opinion of BenchMark customers on price direction), an economic calendar, trading calculators, and a financial radar for comparing instrument movements.

These tools are intended to assist traders in making informed decisions. The broker also provides educational sections on its website, though detailed content is not extensively covered in the available pages.

BenchMark is not regulated by any major financial authority, such as the Bulgarian Financial Supervision Commission (FSC) or any European regulator. The company is registered as a Bulgarian entity, but registration does not imply regulatory oversight for forex brokerage activities. The lack of regulation means that clients are not protected by investor compensation schemes or dispute resolution services common in regulated jurisdictions.

FXCanary's Scam Risk Score for BenchMark is 75/100 (Severe), reflecting the absence of regulation and potential risks. Traders should exercise extreme caution and thoroughly assess the broker's credibility before depositing funds. The broker's high leverage offerings (up to 1:400) and unregulated status present significant risk of loss.