Abstract：Has your trading experience with Beirman Capital, a Saint Lucia-based brokerage, been far from good? Did the broker allegedly scam you in the name of bonuses on deposits? Did it fail to honor your withdrawal requests? Did you also have to face deposit credit failures? These complaints may show a pattern if you consider several Beirman Capital reviews. This article examines user reviews and answers whether the broker is regulated.
Has your trading experience with Beirman Capital, a Saint Lucia-based brokerage, been far from good? Did the broker allegedly scam you in the name of bonuses on deposits? Did it fail to honor your withdrawal requests? Did you also have to face deposit credit failures? These complaints may show a pattern if you consider several Beirman Capital reviews. This article examines user reviews and answers whether the broker is regulated.
ContentsBeirman Capital Market Presence & Account Types Explained
Beirman Capital is a multi-asset brokerage firm with its clients' assets across forex, commodities, stock CFDs, indices, ETF CFDs, and NDFs.
The brokerage firm allows investors to trade major, minor and exotic currency pairs. These include EUR/USD, EUR/JPY, EUR/GBP, USD/JPY, USD/CHF, etc.
Commodity traders can invest in gold, silver, crude oil and several other products on the broker's platform.
Stock traders can buy and sell the shares of the world's top companies, including Apple, Tesla, Facebook, Google, McDonald's, etc.
Investors can choose from as many as 80 indices. These include all major indices - S&P 500, DJI, FTSE 100, Small Cap 2000, Nasdaq Composite, etc.
With ETF CFDs, you can invest in a large number of securities at once. All major ETFs, including SPDR S&P 500, BlackRock, Invesco, SPY, VEA and MSCI, are available on the Beirman Capital platform.
You can also trade a large number of currencies using Non-Deliverable Forward (NDF) contracts.
The broker offers three accounts to trade all these instruments: Raw ECN, Standard and Islamic. The minimum deposit advertised by the broker is $100. Meanwhile, it offers a maximum leverage of 1:500 across 276 instruments available on the platform.
Top User Allegations Against Beirman Capital
Withdrawal Requests Rejected, No Support Ticket Generation Possible
A user from the United States accused Beirman Capital of either rejecting his multiple fund withdrawal requests or leaving them in pending status. The trader's multiple attempts to reach the support team reportedly failed due to the alleged failure in ticket generation. However, the user reportedly collected all the evidence and presented it to a legal firm, which helped him recover his funds. This Beirman Capital review shares insights into a poor user experience.
Withdrawals Denied as Profits Emerge on the Beirman Capital Login
A Canadian trader reported that the broker allegedly made a lot of excuses when the former witnessed profits on his deposited capital. As a result, the withdrawal request, according to the trader, remained pending for months. Have a look at this complaint below.
Reported Foul Play in Bonus
An Indian user reportedly labelled the broker as a fraud while sharing the Beirman Capital review on WikiFX, a leading forex broker regulation inquiry tool. According to the trader, the broker promises to give clients a 30% bonus. Afterward, clients allegedly fail to receive either their principal or profits. Take a look at this review.
Funds Worth Up to $12K Allegedly Withheld by Beirman Capital
A US-based trader claimed that the broker withheld his funds worth up to $12K. According to the user, the broker cancelled all his profits by blaming him for abusive trading. However, the broker allegedly failed to provide any evidence supporting its claim, the trader added. To know more, check this Beirman Capital review.
Investigating an Alleged Deposit Credit Failure
A user from the United States claimed that the deposits made by him failed to show on the Beirman Capital login dashboard. The support team, according to the client, did not respond to the issue. Have a look at this review.
Traders Report Persistent Deposit Pressure
Users from Canada and the United Arab Emirates claimed that the broker pressures clients to deposit more. The Canadian user accused the broker of lying to clients with false promises and finding a way to rob them of their hard-earned funds. Similar sentiments were reportedly expressed by the UAE-based user. Take a look.
Login & Account Deactivation Complaints
While a user from Australia complained of non-approval of login to his trading account, the Albanian user reported account deactivation by the broker without any prior notice. Even the Beirman Capital customer support team allegedly fails to resolve their issues. Have a look at these two complaints below.
Beirman Capital Regulation Status Details
Are you asking: Is Beirman Capital regulated? The WikiFX team, in its report, mentioned that the broker does not have a forex license. However, it does have a currency exchange license from the Financial Crimes Enforcement Network. The license number reported is 31000278731692. However, a FinCEN MSB registration should not be treated as equivalent to authorisation from a securities or derivatives regulator to offer leveraged forex or CFD products. The user trust score thus fell to a low of 1.91 out of 10.
Conclusion
Despite a host of brokerage products, the broker reportedly fails to impress users who have recently complained about deposit and withdrawal failures while criticizing the lack of assistance by the Beirman Capital customer support team. With the licensing structure remaining far from being credible, the potential risks for traders cannot be ruled out.
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