Established in 2013, BrightWin offers trading in Forex and pairs and Contract for Difference (CFDs) on commodities, indices, and equities through MetaTrader 4 and Sirix Web Trader. The broker operates on a Straight-through- Processing (STP) policy.
The company behind the brand, BrightWin Securities and Finance Ltd., is based in New Zealand, registered in the Financial Service Provider Register (FSPR) and as such regulated by the Financial Markets Authority (FMA).
Forex brokers regulated in New Zealand must adhere to a set of standards. Under the FMA client money rules, they are required to segregate all retail client funds from their operational ones. What is more, they have to follow anti-money laundering regulations.
Besides, FMA releases periodic updates and press releases about the state of financial markets and the warnings about potential scams, unregistered business, and deregistered brokers.
Minimum Initial Deposit
The minimum initial deposit required by BrightWin is $200. This is a reasonable amount to start trading with, however other brokers, like IG and CMC Markets (initially UK brokerages that also hold licenses with FMA), does not require any minimum deposit.
Commission & Spreads
This broker offers commission-free trading and variable spreads, averaged 1.0 pips for the EUR/USD pair, which is a competitive pricing. Most brokers offer spreads within the range of 1.0 – 1.5 pips for this pair.
In comparison, IG provides spreads averaged 0.8 pips on EUR/USD on its commission-free accounts. You may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level offered by BrightWin is 1:100, which is relatively low, as most brokers usually offer leverage ratios between 1:200 – 1:400. IG, for instance, provides leverage up to 1:200. If you prefer to use higher leverage levels, you may check out a list of forex brokers offering leverage levels equal to or exceeding 1:500.
Keep in mind, however, that the higher the leverage, the greater the risk of losses, which may even exceed initial investments.
As we have mentioned above, BrightWin offers the good old MetaTrader 4 (MT4), as well as the Sirix web-based platform.
MT4 is globally popular for its innovative, on the go trading capabilities, variety of built-in indicators, advanced charting, automated trade options (EAs) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform.
The Sirix platform is also equipped with built-in advanced indicators and charting options. Charts can be displayed in various timeframes and traders can add their own lines, measures and annotations. It also enables users to copy other traders’ actions, as it offers a social trading feed.
BrightWin Review Conclusion
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