BRAC EPL
Pros and Cons
Pros
- Established in 2009 with long operational history
- Multiple contact channels for customer support
- Commission fee set at maximum 1% on total trade value
- Provides various financial services including retail and NRB brokerage
- Supports bKash as a payment method for transactions
Cons
- No valid regulatory oversight
- Limited trading instruments (only equity)
- No demo accounts available
- Lack of transparency in fees
- Trading platform lacks advanced features
Basic Information
User Reviews
BRAC EPL Overview
BRAC EPL Stock Brokerage Limited, founded in 2009 and headquartered in Dhaka, Bangladesh, operates as an unregulated brokerage service provider. The broker does not hold any valid regulatory licenses, which may raise concerns regarding trader protection and overall trustworthiness. Despite its longstanding presence in the market, potential clients should be aware of the associated risks due to the lack of oversight from reputable financial authorities.
BRAC EPL specializes primarily in equity trading and offers a range of financial services, including retail brokerage and various payment solutions through platforms like bKash. While it provides a straightforward trading experience, the absence of popular trading instruments such as forex and cryptocurrencies may limit opportunities for diversification. Customer support is accessible through multiple channels, ensuring assistance is available, though the lack of demo accounts and transparency may deter some traders. Overall, BRAC EPL’s offerings cater to specific needs but warrant careful consideration due to its unregulated status.
Is BRAC EPL Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No Regulatory Authority | Bangladesh | No investor protection measures |
Is BRAC EPL Regulated and How Are Client Funds Protected?
BRAC EPL is not regulated by any recognized financial authority, which raises significant concerns regarding investor protection. The absence of regulatory oversight means that client funds may not be safeguarded against potential fraud or mismanagement. Moreover, without the backing of a regulatory body, clients have limited recourse in case of disputes or issues with fund access. As a result, trading with BRAC EPL carries inherent risks, and potential investors should consider these factors seriously before engaging with the broker.
Trading Products and Services
What trading instruments does BRAC EPL offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Not Available | – |
| Commodities | Not Available | – |
| Indices | Not Available | – |
| Stocks | Equity | Multiple |
| Cryptocurrencies | Not Available | – |
BRAC EPL offers a limited range of trading instruments primarily focused on equities. While it does not currently support Forex or other common asset categories, the platform provides access to various equity products. This limitation may appeal more to equity-focused traders or investors looking for stock trading opportunities. However, the absence of Forex and other diverse trading options may hinder portfolio diversification and strategic flexibility for users seeking a broader range of markets. Therefore, understanding the available products is crucial for traders at all experience levels to ensure their investment strategies align with the offerings of BRAC EPL.
Account Types and Trading Conditions
What Account Types and Fees Does BRAC EPL Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly platform | Ideal for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading experience and volume qualifications |
| Corporate Account | Corporate clients | Custom services, tailored solutions | Requires corporate documentation |
| Islamic Account | Muslim traders | Swap-free, compliant with Sharia law | Requires verification of religious affiliation |
| Demo Account | All traders | Practice trading with virtual funds | Great for testing strategies without risk |
Account Opening Process
To open an account with BRAC EPL, prospective clients must go through a systematic process that includes the submission of personal, employment, and financial information. This information is essential for identity verification, which includes providing a valid ID and proof of address. Once these documents are submitted, the account can be verified quickly. For those who start with a Retail Account, there may be opportunities to upgrade to a Professional Account later, depending on trading activity and experience.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| CFDs (Stocks) | 1.5 | $5 per lot | Includes major international stocks |
| CFDs (Indices) | 1.2 | $4 per lot | Popular indices available |
| CFDs (Commodities) | 2.0 | $6 per lot | Various commodities offered |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
In addition to the trading fees, clients should be aware of several other costs associated with their accounts. These include deposit and withdrawal fees, which may vary based on the payment method used. There is also an inactivity fee that applies if an account remains dormant for an extended period. Clients may incur platform usage fees if applicable, and overnight interest (swap rates) may affect positions held overnight. Lastly, currency conversion fees may apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does BRAC EPL Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | 2FA, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| Web Version | All browsers (Windows, macOS) | Encryption, symbol lookup, push notifications, economic calendar | API interfaces |
| Mobile App | iOS, Android | Biometrics, one-click trading, price alerts, market search | None |
BRAC EPL offers a range of trading platforms including MT4/MT5, which are suitable for advanced traders needing robust tools and features. The web version provides accessibility across devices, ensuring a seamless trading experience. The mobile app enhances convenience, allowing traders to operate anytime with secure login options and real-time alerts. Each platform emphasizes security and efficiency with features designed to support quick order execution and comprehensive market analysis.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bkash | Instant | No platform fee, 2% charge for transactions | Min 100 BDT, Max 50,000 BDT/day | BDT |
| Nagad | Instant | No platform fee, 1.5% charge for transactions | Min 200 BDT, Max 100,000 BDT/day | BDT |
| Bank Transfer | 1-3 business days | No platform fee, 0.5% bank charge | Min 500 BDT, Max 200,000 BDT/day | BDT, USD |
| Credit/Debit Cards | Instant | No platform fee, 2.5% charge | Min 1,000 BDT, Max 50,000 BDT/day | BDT, USD |
Minimum Deposit
The minimum deposit requirement at BRAC EPL is 100 BDT. This amount may vary depending on the payment method selected, with some methods allowing higher minimum deposits. Different account types may also have specific requirements.
How to Withdraw
- Log into your BRAC EPL account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and wait for the processing confirmation.
Customer Support
BRAC EPL Customer Support Overview
Support Channels
BRAC EPL provides multiple contact methods to ensure customer support is accessible. Clients can reach out via:
- Email: Customers can send inquiries to info@bracepl.com for assistance.
- Live Chat: A live chat option is available on their website for immediate help.
- Telephone: Support is reachable at +880 01730727919 for direct communication.
- Social Media: Connect with BRAC EPL on platforms like Facebook and LinkedIn for updates and support.
Service Availability
BRAC EPL’s customer service operates 24/5, providing support from Monday to Friday. They also offer multilingual support in Bengali and English, ensuring that a wide range of customers can receive help effectively.
Additional Resources
To enhance client knowledge and trading skills, BRAC EPL offers various educational resources such as video tutorials, market analysis, and webinars, which can be beneficial for new and experienced traders alike.
Frequently Asked Questions
BRAC EPL currently operates without any valid regulatory licenses. Clients should be aware of the potential risks associated with trading through an unregulated broker.
BRAC EPL charges a commission fee of up to 1% on the total trade value. However, the platform does not offer a demo account for practice trading.
As BRAC EPL is not regulated, clients should exercise caution regarding fund security. It is advisable to consider the risks involved before depositing funds.
BRAC EPL primarily offers a mobile trading experience through the bKash app. However, the lack of a demo account and transparency can impact the overall user experience.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.