Bacera offers its clients a choice of several live account types: A standard commission-free one with fixed spreads, and Pro account which provides tighter spreads, and involves a commission. Both accounts offer leverage up to 1:400 on the popular MetaTrader 4 platform.
Micro lots are available for trade on both account types and, of course, the broker also provides free Demo accounts for one month. PAMM accounts, as well as swap-free services, however, are not available with this broker.
The Company. Security of Funds
Bacera is an Australian financial services company, which acts as a Market Maker. It offers trading in around 30 currency pairs, as well as CFDs on, commodities, shares indices and precious metals on the most popular platform – the MT4.
Bacera is the trading name of Bacera Co Pty Ltd., which holds an Australian Financial Services License and is regulated by the Australian Securities and Investment Commission (ASIC).
ASIC requires licensed financial services providers to meet certain capital requirements and to comply with internal standards including risk management, staff training, accounting and audits. Australian forex brokers must hold at least $ 1 million in order to prove their good financial standing. In addition, all client funds must be held in fully segregated client trust accounts. ASIC applies real-time surveillance programs for monitoring execution and requires post-trade reporting.
Unlike UK and Cyprus-based brokers, however, Australian ones are not covered by any compensation scheme.
Minimum Initial Deposit
Traders are required to deposit $300 AUD in order to open an account with Bacera, which is average. Yet, there are other brokers licensed by ASIC, which require less or none at all. For example, FXCM demands $50 from its clients to open an account.
Average Spreads & Commissions
According to the broker’s website, Bacera’s spreads on Standard start out at 1.7 pips, however when we tried out their demo account, we found that the spread for the EUR/USD is fixed at 1.8 pips. Such spread is quite competitive, as most fixed-spread brokers offer spreads of 2 pips for this pair. In general, fixed spreads are wider than variable ones, but they don’t widen during news releases.
In comparison, FXCM offers commission-free trading with spreads averaged 1.4 pips on EUR/USD on its Mini accounts with dealing desk execution, and even tighter on Standard accounts with NDD execution (0.4 pips with $4.00 commission).
For more information, you may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level for clients of Bacera is high, reaching 1:400. Yet, a number of brokerages offer similar ratios – here is a list of companies providing leverage equal to or exceeding 1:500.
You should keep in mind that high leverage involves higher risk of losses in excess of initial investments.
Bacera supports the standard forex trading platform MetaTrader 4 (MT4).
MT4 provides a full spectrum of trading tools and resources: a number of built-in technical indicators, advanced charting package, wide range of Expert Advisers (EAs) and extensive back-testing environment. By using EAs traders may sit back, while the software does all the work, as these robots allow full automatization of trades.
Methods of Payment
Bacera offers its clients the following deposit/withdrawal methods: bank wire transfer, credit/debit cards (Visa, MasterCard & American Express) and China UnionPay. Popular e-wallets such as FasaPay & Skrill are not available with this broker.
Withdrawals are initiated the day the request is received and may take up to 3-5 business to be credited to the client’s bank account.
Bacera is a MT4 broker, that is regulated by ASIC and has more than 8 years or experience in forex and CFD trading. It offers competitive fixed spreads, however, acts as a Market Maker and is therefore, a counterparty to its clients.
Bacera Review Conclusion
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