Boney Market
Pros and Cons
Pros
- Diverse range of trading instruments including Forex, commodities, indices, and cryptocurrencies
- High leverage options available up to 1:400
- Access to popular trading platform MT4
- Demo account for beginners to practice without risk
- Multiple payment methods for deposits and withdrawals
Cons
- Not regulated by any recognized financial authorities
- High leverage of up to 1:400 poses significant risk
- Limited account types with only demo and real accounts
- Potential additional costs from deposit and withdrawal fees
- Lack of educational resources for traders
Basic Information
User Reviews
Boney Market Overview
Established within the last 2-5 years, Boney Market is an online forex broker registered in Bulgaria, operating under the full name Boney Trading Consultancy Ltd. The broker offers trading services in various financial markets, including Forex, commodities, index CFDs, and cryptocurrencies. However, it is important to note that Boney Market is not regulated by any recognized financial authorities, which raises concerns regarding its credibility and safety for traders looking for a reliable brokerage.
Is Boney Market Safe? Regulation Analysis
Regulatory Information
Boney Market is not regulated by any recognized financial authority. This lack of regulation raises significant risks for traders, as there is no oversight to ensure the safety and security of client funds. Operating without regulation can lead to a higher potential for fraud and a lack of investor protection, making trading with Boney Market a risky endeavor.
Is Boney Market Regulated and How Are Client Funds Protected?
Trading Products and Services
What Trading Instruments Does Boney Market Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Boney Market provides a diverse range of trading instruments, catering to the varied needs of traders in the financial markets. With offerings that include Forex, commodities, indices, stocks, and cryptocurrencies, the broker enables both novice and seasoned traders to explore multiple avenues for investment. This diverse selection supports various trading strategies, allowing individuals to adapt their approach based on market conditions and personal investment goals. Whether you are a beginner looking to learn or a professional seeking advanced trading opportunities, Boney Market’s product variety enhances the potential for portfolio diversification and flexible trading strategies.
Account Types and Trading Conditions
What Account Types and Fees Does Boney Market Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Demo Account | Beginners | Allows practice with virtual funds | Equipped with $10,000 in virtual currency |
| Real Account | Experienced Traders | High leverage up to 1:400, low spreads | Requires identity verification and funding |
Account Opening Process
Opening an account with Boney Market is straightforward. First, prospective traders need to click on the “Open A Live account” link and fill out the application form, providing personal, employment, and financial details. Following this, identity verification will be required, including the submission of a photo ID and proof of address. Once verified, the account is successfully registered, allowing traders to fund their accounts and start trading. There is also flexibility to upgrade to a professional account in the future if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | Varies | $0 | Tight spreads available |
| CFDs (Indices) | Varies | $0 | Competitive pricing on major indices |
| Cryptos (BTC/USD) | Varies | $0 | Dependent on market conditions |
Other Fees
Traders should be aware of potential additional costs, including deposit and withdrawal fees, inactivity fees, and any platform usage fees that may apply. Overnight interest charges (swap rates) can also accrue for positions held overnight, and currency conversion fees may be applicable when transacting in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Boney Market Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA, multiple order types, price alerts, technical indicators | Demo account, API interface |
| Web Version | Windows, macOS | Encryption, symbol lookup, push notifications | None |
| Mobile App | iOS, Android | Biometric login, one-click trading, real-time alerts | Demo account |
Boney Market offers a selection of trading platforms catering to various trader preferences. The MT4 platform is particularly suited for those seeking a comprehensive trading experience with advanced tools and features. The web version provides convenient access without the need for downloads, while the mobile app enhances trading flexibility with secure login options and instant notifications. Each platform is designed to support efficient trading with quick order execution and a variety of features that facilitate market analysis and decision-making.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3-5 days | No platform fee | Min 50, Max 20k/day | EUR, USD |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | EUR, USD |
| Cryptocurrency | Instant | No platform fee | Min 50, Max 15k/day | BTC, ETH |
| E-Wallet | Instant | 1.5% charge | Min 50, Max 10k/day | EUR, USD |
Minimum Deposit
Boney Market requires a minimum deposit of $50 to open a trading account. This requirement is consistent across all payment methods and account types, ensuring that traders of varying experience levels can easily get started.
How to Withdraw
To withdraw funds from your Boney Market account, follow these steps:
- Log into your Boney Market account.
- Navigate to the ‘Withdrawal’ section of your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, keeping in mind the limits set by the broker.
- Confirm your withdrawal request and check for any verification steps required.
- Submit your request and wait for processing, which will take varying amounts of time depending on the method chosen.
Customer Support
Boney Market Customer Support Overview
Support Channels
Boney Market offers various support channels to assist customers effectively. Traders can reach out through:
- Email: Direct communication is possible via info@boneymarket.com.
- Telephone: Customers can call +380 68 465 2784 for immediate assistance.
- Live Chat: Available on the Boney Market website for real-time support.
- Social Media: Follow Boney Market on platforms like Facebook, Twitter, and YouTube for updates and support.
Service Availability
Customer support at Boney Market is available Monday to Friday, from 09:00 to 18:00. While the support is primarily in English, the availability of multilingual support is not specified. Traders can expect prompt assistance during the designated hours.
Frequently Asked Questions
No, Boney Market is not regulated by any recognized financial authority. This lack of regulation raises significant risks for traders, as there is no oversight to ensure the safety and security of client funds.
Boney Market offers a diverse range of trading instruments, including Forex, commodities (like gold and oil), indices (such as S&P 500 and NASDAQ), stocks from the US and UK, and cryptocurrencies (including BTC and ETH).
Boney Market provides two types of accounts: a demo account for beginners, which allows practice with virtual funds, and a real account for experienced traders, which offers high leverage up to 1:400 and low spreads.
Boney Market offers various customer support channels, including email at info@boneymarket.com, telephone support at +380 68 465 2784, live chat on their website, and updates on social media platforms like Facebook, Twitter, and YouTube.
Best Bulgaria Forex Brokers & Reviews (2026)
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.
