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Bears Markets
Rating:
Binary Option Programs Award
Min. Deposit
2 BTC
Min. Investment
-
Regulated Broker
No

Bears Markets Broker Review

  1. IQ broker ORGZA promo screen

    Bears Markets is an unregulated crypto broker which offers South African investors a selection of tradeable assets, surprisingly excluding forex currency pairs. It is essential to note here that Belgium’s financial regulator, the Financial Services and Market’s Authority, has issued a warning against Bears Markets. The financial watchdog claims that Bears Markets is “suspicious” and advises traders to stay away.

    Bears Markets Account Types

    Now, the minimum deposit to open an account with Bears Markets is up to 2 BTC. The crypto broker has as its main focus cryptocurrency assets, which it appears to accept as deposits as well. There is no mention whether South African traders can make a deposit in RAND or in a different currency. Now, the actual price of a Bitcoin deposit may vary based on the fluctuating value of Bitcoin itself.

    Unfortunately, Bears Markets does not provide South African users with a demo account to practice and test out their platform risk-free. Instead, it solely offers five different account types with minimum deposits ranging from 2 BTC to over 45 BTC.

    You can take a look at each account’s features below.

    Mini Account

    • Minimum deposit: up to 2 BTC
    • Maximum leverage: 1:200
    • Margin loan 25%
    • Daily news
    • Weekly market review
    • Account manager
    • Weekly live stream
    • Trading webinar

    Silver Account

    • Minimum deposit: up to 10 BTC
    • Maximum leverage: 1:200
    • Margin loan: 35%
    • Personal account manager
    • Daily market review
    • Daily market signals
    • Work with broker
    • In-depth research
    • Analyst sessions
    • Portfolio construction

    Gold Account

    • Minimum deposit: up to 20 BTC
    • Maximum leverage: 1:200
    • Margin loan: 50%
    • Personal broker
    • Daily market review
    • Daily market signals
    • Work with broker
    • In-depth research
    • Daily one-on-one with analyst
    • Weekly live webinar trading sessions
    • Portfolio construction

    Diamond Account

    • Minimum deposit: up to 45 BTC
    • Maximum leverage: 1:300
    • Margin loan: 75%
    • Personal broker
    • Daily market review
    • Daily market signals
    • Work with broker
    • In-depth research
    • Daily one-on-one with top analyst
    • Weekly live webinar trading sessions
    • Managed portfolio
    • Customized education
    • Invites to VIP events

    VIP Account

    • Minimum deposit: over 45 BTC
    • Maximum leverage: 1:400
    • Margin loan: 100%
    • Personal broker
    • Daily market review
    • Daily market signals
    • Unlimited access to brokers
    • Personal chief broker
    • In-depth research
    • Daily one-on-one with top analyst
    • Weekly live webinar trading sessions
    • Managed portfolio
    • Customized education
    • Invites to VIP events
    • Wealth manager
    • Higher payouts
    • Tight spreads

     

    Bears Markets Trading Platform & Assets

    South African investors will be given the following underlying assets to trade:

    • Crypto – Bitcoin, Ethereum, Litecoin, Dash, Ripple ZCash etc.
    • Commodities
    • Stocks
    • Indices

    To our surprise, no forex currency pairs like EUR/USD are offered. Bears Markets seems to strongly focus on cryptocurrency assets.

    Web Platform

    Now, when it comes the broker’s trading platform, there was limited information on the website. They offers a simple web trader, which can be accessed directly from your web browser. Web-based platforms are often preferred due to the fact that there is no need to download or install any software onto your device. There is no mention of a mobile app or mobile trader though.

    We were once again disappointed when taking a look at the trading platform, though. Its simplicity lacks charting tools and advanced features which can be found on the MetaTrader 4 (MT4) platform or the IQ Option trading platform. The fact that Bears Markets does not give the option to South African traders of a second, more advanced platform is unfortunate.

    In general the entire Bears Markets website provides more generic information on Bitcoin than the actual broker and its services. This type of lack of transparency is common with certain unregulated brokers and is considered an immediate red flag.

    Bears Markets Customer Support

    If South African traders have any questions or issues, they can contact the Bears Markets customer support team via email or by requesting a callback. There is no live chat available or a specific South African number. There is an FAQ section on the website, but it is extremely limited.

    Callback: +44 20 36 70 17 63
    Email: [email protected]

    Bears Markets Deposit & Withdrawal Methods

    The minimum deposit to begin trading with Bears Markets is up to 2 BTC, so we can only assume that this broker accepts Bitcoin deposits. However, we could not find any other information regarding deposit or withdrawal methods accepted.

    Bears Markets Pros & Cons

    As you have probably picked up by now, our Bears Markets review has found many more disadvantages than it did advantages. We have summarized them all below for you to see.

    Pros

    • Good selection of crypto assets
    • High leverage

    Cons

    • Not regulated or licensed
    • Official warning issued against them by the FSMA
    • Website lacks basic information (no transparency)
    • No demo account
    • MT4 platform or any type of more advanced platform not available
    • No forex

     

     

    Is Bears Markets a Scam?

    We do not have any evidence to call Bears Markets a scam, but we would not recommend them to South African traders. Some of the disadvantages we discovered through the course of this review were serious, such as no regulation and an official warning issued against them by Belgium’s financial regulator. The fact that their website lacks basic transparency is also a sign that this is not a professional company.

    Instead, we recommend trading directly with the best, regulated broker for South African traders – IQ Option.

    Don’t take our word for it? Check out some of the IQ Option features below.

    • Regulated and licensed
    • Free $10,000 demo account
    • $10 minimum deposit
    • Award-winning trading app

    Read our full IQ Option review here.

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