Mediocrity or scammer: everything about the broker Barcleyes. Read the reviews on our website.
A trader risks not only making a bad trade. On his way, an intermediary may meet whose goal is to cash in, including adjusting quotes. Should we include Barcleyes among them? Let’s figure it out.
Acquaintance with most brokers begins with the site. Barcleyes is pretty much okay with that. What can be seen at barcleyes.co.uk:
A lot of information. She’s helpful and persuasive.
Detailed description of accounts with a large number of bonuses in the form of support, interest on the deposit, access to investment ideas.
The site is of high quality. It is convenient to work with him. Finding the sections you want is easy.
But not everything is so good. A closer analysis of the Barclays broker’s website reveals several inconsistencies that raise doubts about its integrity. Let’s start with the creation date. Declared 2008. But the license says 2006. This indicates either that the document is fake, or misinformation of customers.
Barcleyes’ approach to promoting its website raises questions. It has been around since 2016, but there is only one direct link to it from other sources. Reviews, reviews and opinions about the broker are practically absent. Most of the mentions are associated with doubts about whether it is worth working with him.
Where does this name come from?
Barcleyes is very similar to Barclays. But there is a difference. Barclays is an almost unknown intermediary that has worked imperceptibly for over 10 years. And Barclays is a large financial company, a liquidity provider. A strange move. This is often done by counterfeiters to interest buyers.
A very secretive broker. Feedback can help you make the right decision.
Barcleyes does not tell you how much you will have to pay for deposits and withdrawals. And this is of great importance for many traders. But it promises instant replenishment. But how is it implemented in practice, if only a bank transfer takes 2 to 4 days?
The withdrawal of funds also raises questions. The commission is again silent. And the term of the transaction varies from 2 to 5 days. Why so long? After all, other brokers withdraw money instantly. Most likely, it’s a matter of verification, which takes a long time.
What’s wrong with additional services
Barclays says it splits its own and client’s capital, and also does not have access to the latter. But meanwhile it offers the service “Interest on deposit”. It works like this: a broker takes his clients’ money to use it to make a profit, some of which he gives them. And this is contrary to what he claims.
Number of trading instruments
You can trade 85 assets on barcleyes.co.uk:
50 currency pairs.
The last two tools raise questions. Usually, metals are traded for large sums, because on the market they are bought and sold by banks, as well as large companies. That is, Barcleyes clients can only earn on CFDs and metal pairs. But these are already other types of assets. It is not necessary to mention them separately.
Apparently, the broker creates the appearance of diversity. But the fact is that with 85 instruments (which is very few), it is difficult to diversify trading.
Incredibly profitable passive investments
Trust management from Barclays looks too complicated. The broker invites its clients to invest in traders who will trade their money on speculative markets. True, he tactfully keeps silent about the fact that they will have to spend money on spreads and commissions when opening deals (and they do not always end in income). It is much easier to choose a management company that will bring a fixed percentage of the deposit.