Berndale Capital Review 2024
Website: berndalecapital.com
Min. Deposit: US$ 25
Leverage: 1:500
Trading Platforms: MT4
Regulation: ASIC
Headquarters: Australia
Founded: 2012
Regulatory Licenses:
- Berndale Group Pty Ltd - authorized by ASIC (Australia) registration no. AFSL 290108 suspended
In a Snapshot
March 25, 2024
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Our Review Method ▲ At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
Berndale Capital, rooted in Australia, emerges as a prominent Forex broker, extending its services across Europe and Asia. It aims to democratize the trading experience, making it accessible to all by integrating low trading costs, cutting-edge technology, and unparalleled support. Berndale Capital caters to a diverse range of trading strategies, offering a rich portfolio that includes 62 currency pairs, 16 stock exchange indices, 4 governmental bonds, precious metals, and Bitcoin. The brokerage ensures a seamless trading experience through its use of ECN fastest servers LD4 and NY4, which are connected to liquidity providers to offer competitive pricing from 0.0 pips. This technological advantage eliminates requotes and rejections, facilitating smooth trading operations even under substantial trading volumes.
To empower its clients, Berndale provides comprehensive market education through trade coaches, regular webinars, one-on-one support, and an array of analytical data. Additionally, clients benefit from personalized attention from a dedicated relationship manager, who addresses individual trading needs.
Selecting a regulated broker is crucial for ensuring client protection and confidence in the trading environment. Berndale Capital operates under the Berndale Group Pry Ltd, which is duly authorized by the Australian regulatory body, ASIC. This regulation mandates strict adherence to operational transparency, data protection, and the security of client funds, thereby affirming Berndale’s commitment to its clients' welfare. Furthermore, Berndale has instituted a Negative Balance Protection policy, safeguarding clients from losing more than their account balances, thus providing an additional layer of financial security.
Berndale has selected the robust and well-regarded MetaTrader4 as its core platform, known for its extensive features and capability to support traders of all levels. The broker has enhanced the platform's performance through a high-speed global network that connects multiple servers via fibre optics, ensuring ultra-low latency. MetaTrader4 caters to various trading styles, allowing all strategies including the use of Expert Advisors (EAs) within the MT4 Marketplace, algorithmic trading, and hedging. Its flexible charting options and wide range of trading indicators empower traders to make well-informed decisions, elevating their trading to a more professional level.
To accommodate the modern lifestyle that demands mobility, Berndale has developed a mobile version of MetaTrader4. This version seamlessly integrates with the desktop platform, providing real-time updates and data, ensuring that trading opportunities are never missed. It is compatible with all devices, whether iOS or Android.
For those interested in social trading, Berndale offers access to the leading myFXbook platform. This platform serves as an open forum for traders worldwide to share ideas and strategies, benefiting both novice and professional traders. The only cost involved is a minimal markup on all orders, making it an affordable option in the marketplace.
Additionally, Berndale provides a Virtual Private Server (VPS) solution powered by Fyrelink. This enables uninterrupted trading through algorithms and EAs, eliminating any concerns about downtime. Clients have the flexibility to install almost any software package on their PC, ensuring a secure and customized trading experience.
To commence trading, clients must complete a four-step online account application form and can select their preferred base currency from options including the Australian Dollar, USD, Euro, and British Pound. Berndale has crafted four distinct account types, offering leverage up to 1:500, access to premium signals, and personal relationship management.
The STP (Straight Through Processing) account offers a straightforward start, requiring only a $25 initial deposit. This account type provides simplicity in costs with a spread starting from 0.9 pip.
The STP Plus account features unparalleled ECN pricing from 0.0 pips and a commission of $3.5 per $100k traded, with a balance requirement of $200.
The ECN Pro account introduces a pure ECN model with an initial balance requirement of $2,500. It offers spreads starting from 0.0 pips and a lower commission of $2.5, along with onetoone education and priority support.
The Institution Plus account is designed for those seeking institutionalgrade pricing, offering customizable spreads from 0.0 pips and a tailored commission structure. This account type provides private account settings, high volume order execution, priority support, and coaching.
Berndale encourages new clients to open a Demo account to familiarize themselves with the trading environment and conditions offered by the broker, risk-free.
Deposit and Withdrawal Methods ▲
Funding a trading account should be an effortless task, facilitated by a variety of payment methods including Bank Transfers, Credit Card Payments, and e-wallets such as Neteller, Skrill, and FasaPay. Client funds are always held in top-tier AA financial institutions, ensuring a high level of safety and security. Regarding fees, Bank Transfers are free of charge, whereas Credit Card payments may incur a 1.5% handling fee. Withdrawals are executed without any internal fees; however, external banks or financial institutions might impose charges on transactions.
In summary, the review of Bernadale Capital concludes that it is a trustworthy and regulated company providing high-quality services with cutting-edge technology solutions. Its connectivity offers direct access to market liquidity providers, in addition to the highly acclaimed MT4 platform being part of its offering. The diversity in account types ensures that traders of all levels and preferences can find an option that suits them. Furthermore, the company offers comprehensive education and support services tailored to each client, making it an attractive option for beginner traders (a helpful guide can be found by following the link to forex brokers for beginners) with offers like standard accounts that require as little as $25 to start trading. Seasoned traders, on the other hand, can benefit from the competitive pricing and technology, with support services designed to enhance their trading potential.
Updates since November, 2018 ▲
Recent updates indicate that Berndale Group Pty Ltd's license has been suspended by the ASIC authority, leading to a complete halt in its operations. ASIC has also imposed a ban on Stavro D’Amore, a former director of Berndale, from engaging in further financial business activities.
