BIC Markets

BIC Markets (branded as B.I.C. Markets) is a retail forex and CFD broker registered in Cambodia. The company was founded on 1 April 2020 and operates the website bicfx.com.

According to its public statements, it is the retail division of the B.I.C. Banking Group, though no independent verification of this relationship is available. The broker holds a Derivatives Trading License from the Securities and Exchange Regulator of Cambodia (SERC), which is its sole regulatory oversight.

From an informational standpoint, BIC Markets offers trading in Forex, Metals, Energy and Indices. It provides two main account types: a Zero Commission Account and a Pro Account, both accessible via the MetaTrader 4 platform. The broker's registered address is in Phnom Penh, Cambodia, and it maintains a presence on social media platforms including Facebook, Instagram and YouTube.

BIC Markets reports that it is regulated by the Securities and Exchange Regulator of Cambodia (SERC) under a Derivatives Trading License. The SERC is the governmental authority overseeing securities and exchange activities in Cambodia. While this provides a degree of oversight, it is important for traders to understand that Cambodian regulation is not considered equivalent to top-tier frameworks such as those of the FCA or CySEC. The broker's regulatory status is often cited by industry databases as a factor that may present higher risk.

Our review confirms the license is listed on the SERC's public register. However, the absence of a major-tier regulator means that client protection schemes, such as compensation funds, are not applicable. Traders should weigh this when considering the broker.

BIC Markets structures its offering around two retail account types. The Zero Commission Account has a minimum deposit of $100 and offers maximum leverage of 1:100, with spreads as the primary cost. This account is marketed towards scalpers and high-volume traders. The Pro Account requires a higher minimum deposit of $5,000 and provides leverage up to 1:400, along with institutional-grade spreads and a larger maximum trade size of 50 lots.

Both accounts support MetaTrader 4, WebTrader and mobile trading, and cover the same instrument list: forex, metals, energy and indices. Execution is described as market execution. The broker does not appear to offer Islamic or swap-free accounts as a standard feature, nor does it provide extensive information on negative balance protection.

The primary trading platform offered by BIC Markets is MetaTrader 4 (MT4), a widely used platform in the retail forex industry. The broker provides its own branded version, BIC FX MT4, which it claims integrates its liquidity pool for faster execution. Compatibility extends to desktop, web and mobile devices, including dedicated apps for iPhone, iPad and Android.

MT4 is known for its charting capabilities, technical indicators, and support for Expert Advisors (EAs). BIC Markets permits the use of EAs and scalping strategies, as stated on its Zero Commission Account page. No alternative platforms such as MT5 or cTrader are mentioned.

BIC Markets offers a variety of funding methods for account deposits. These include credit/debit cards, Neteller, Skrill, bank wire transfer, Thai Internet Banking, and Perfect Money. Most methods process deposits instantly, with wire transfers taking 1-3 business days. The broker does not charge deposit fees. Withdrawal methods are not detailed on the website, but typically mirror deposit options.

The base currency for accounts is USD, though some e-wallets accept THB. The minimum deposit for the Zero Commission account is $100, while the Pro account requires $5,000. There is no information provided about minimum withdrawal amounts or processing times for withdrawals.

BIC Markets appears to target both retail and institutional clients. The Zero Commission account is designed for traders looking for low-cost, high-volume trading, while the Pro account caters to more experienced traders with a larger capital base. The broker's presence in Cambodia and use of SERC regulation may appeal to traders in Southeast Asia and other regions where local regulation is acceptable.

However, the broker's risk score of 25/100 (Guarded) from FXCanary indicates that while not flagged as a scam, there are notable concerns. The lack of top-tier regulation, combined with a relatively short operating history, suggests that traders should proceed with caution and perform their own due diligence.