BeeMarkets Review: Legit Broker or Just Another Scam?

Today we present a story about a Forex/CFD broker that tries to convince traders that it operates under the supervision of several regulators. At the same time, clients are promised zero spreads, commissions that are several times lower than those of competitors, and solid leverage of up to 1:1000. Do you need any more arguments to start trading here? However, we are not so easily convinced — we have seen even more impressive numbers used by scammers. That is exactly why this BeeMarkets review was created, where we will talk about the company, its offers, and determine whether this platform is yet another scam project.

Does BeeMarkets Show Any Risk Factors?

We are sure that the offer to trade with a company that is present in several countries and authorized by local regulators in each of them would attract many traders, even experienced ones. The broker claims that this is exactly the case and provides a list of companies under whose management it allegedly operates:

• Bee (COMOROS) Ltd, registered on the autonomous island of Anjouan, Comoros Union, and operating under a license from the local financial regulator AOFA (Anjouan Offshore Finance Authority) No. L15864/BC. It is this entity that manages the website beemarkets.com.
• Beemarkets (the full company name is not provided), with Australian registration and AFSL license No. 505077. The broker calls it a related entity and states that the companies operate independently, while the products and services presented on the website are neither promoted by the Australian company nor offered to clients from that country. In fact, this suggests that the information is presented merely to add credibility, since the company has nothing to do with the operation of the platform discussed in our beemarkets.com review. We will not even verify the information about it.
• BEE SOUTH AFRICA (PTY) LTD, a brokerage company registered in South Africa under No. 2025/325303/07. The firm is affiliated with Bee (COMOROS) Ltd but operates independently. At the same time, the FSP (Authorized Financial Service Provider) number is not indicated, which may mean that the company does not have a South African license. Since it also operates independently, its details are not relevant to us.
• BEEMARKETS INTRODUCTION TO FINANCIAL SERVICES LLC, a company from the UAE, also affiliated with Bee (COMOROS) Ltd and operating independently. It likewise has no direct relation to the broker we are discussing.

Thus, the creators of the project have arranged a real demonstration meant to impress traders, at least beginners. Indeed, several companies with official licenses would be a major advantage for any broker. However, this does not appear to apply to BeeMarkets. Although the broker claims to be licensed in several countries, the very information it provides shows that only one legal entity actually works with the platform — and that even that one holds a license that is not recognized by anyone. However, let’s go through everything step by step.

So, from the information above it becomes clear that all the companies operate independently, which means that only Bee (COMOROS) Ltd has a direct connection to our broker and its website. We are told that it holds a license from AOFA (Anjouan Offshore Finance Authority).

However, a check in the register of this offshore regulator showed that this is not the case. It was impossible to find any information about a valid broker license by the license number, the company’s registration number, or its name. However, an online search produced an interesting result.

It turns out that Bee (COMOROS) Ltd did indeed have a license with the specified number, issued on October 29, 2024. Its validity (AOFA issues licenses for one year) expired on October 29, 2025. But that’s not all. We did a thorough search and found another website claiming to be an official AOFA registry. According to its information, Bee (COMOROS) Ltd is completely legitimate, and its license expires only on October 29, 2026, meaning the renewal has indeed taken place.

So, which information should we consider reliable? The first or the second? For reference, while we were searching for the Anjouan portal, we saw several other domains that differed by one or two letters in the URL, and all of them claim to be the only genuine ones. Assessing the legitimacy of a broker under the umbrella of such an extraordinary regulator is extremely difficult.

Furthermore, we have every reason to say that the AOFA license is not recognized by anyone. First of all, the official financial regulator of the Union of Comoros is the Central Bank of the Comoros. It is this institution that is responsible for regulating financial services. However, this state is essentially a confederation of independent (autonomous) islands, one of which is Anjouan.

Some members of this confederation believe they have the right to create their own authorities, including financial regulators. The most well-known among them are the regulators of Mwali (MISA) and Anjouan (Anjouan Offshore Finance Authority). These organizations have actively started issuing licenses to brokers who would never be able to obtain authorization from reputable regulators.

The Central Bank of the Comoros considers such activities illegal and warns everyone that these regulators are fake. It does not recognize the licenses issued by them, so having a valid license doesn’t really matter. Moreover, it has solid grounds for this position — the requirements imposed by these self-appointed organizations on brokerage and dealer companies are extremely lenient, while restrictions on their activities are practically nonexistent.

The broker’s reputation online is also far from clear-cut. For example, on Trustpilot, users have left only six comments about this broker’s services, with two of them (33%) being positive and the remaining four (67%) sharply negative. A different picture can be seen on the well-known portal MyFxBook. Here, nine authors have left reviews, all giving the platform very high ratings (an average of 4.9 out of 5). However, once you read their texts (which are not written freely but require answers to several standard questions), it becomes clear that none of the authors actually understands the subject, and their “creations” appear to be commissioned content prepared on behalf of the project’s administration.

Another surprise came from WikiFX. On this portal, BeeMarkets received a score of 6.6 out of 10, which is relatively high. At the same time, it is stated that the broker’s activities are regulated by ASIC, whose reputation likely played a role in the rating. However, we have already seen the broker’s own statement that its offers are not valid for the Australian company or its clients. Therefore, this assessment can hardly be considered objective. Nevertheless, the portal still provides a warning for potential clients of the platform, which is related to software issues.

Let’s Break Down the Lifespan

As for the history of the project, the picture is also far from clear. We have already seen that the company from Anjouan obtained its AOFA license only in October 2024. At the same time, its domain beemarkets.com was registered much earlier — in 2017.

However, the original owner stopped using it, and until 2024 the domain name was being sold by the registrar HugeDomains. Judging by snapshots from the Web Archive service, a fully functional broker website appeared no earlier than May 2024. The information in its footer shows that at that time it was managed by an Australian company that changed both its owners and its name in 2023 to BEEMARKETS PTY LTD. This company does indeed have an AFSL license, which allows it to trade financial market assets and derivatives. However, it seems that the rather strict requirements of the Australian regulator ASIC did not suit the creators of the project, and a company registered and licensed in Anjouan, Comoros Union, was brought into the picture instead.

What Does the Beemarkets.com Website Reveal?

The design of the broker’s official website can hardly be called outstanding. The expected black-yellow-white color scheme, rather ordinary images, and an almost complete lack of explanatory text fragments all leave an unpleasant impression. In short, the developers tried to make the website look solid and created quite a number of pages, but it seems that something important was overlooked.

That “something” is the quality of the content and its informational value, which turned out to be worse than the visual design. Judge for yourself:

• On the pages of the Market section you can find key information — tables with asset prices, spreads, commissions, and leverage. However, some of these pages are quite surprising. For example, the page dedicated to the Forex market lists Major Currency Pairs and Other Major Currency Pairs, as well as Cross Currency Pairs and Other Cross Currency Pairs. This is certainly a new word in trading on this market — although it mainly demonstrates the shocking lack of competence of the broker’s staff.
• The Resources section contains many useful tools and materials. However, for instance, the stock market economic calendar reflects only events from exchanges in the United States, Vietnam, and Taiwan. This is a rather strange selection, considering that the markets of Europe and China, which are far more interesting for traders than those of Vietnam or Taiwan, are completely ignored. The animated clips in the Video section are an interesting idea. Unfortunately, after watching several of them we came to the conclusion that the creators clearly overestimated their ability to explain serious trading topics in just 3–5 minutes.
• The documents that regulate the broker’s interactions with traders are also far from complete. Users can review the Terms & Conditions, Privacy Policy, and Risk Disclosure, and there is even some information about anti-money-laundering measures and order execution. However, this is far from the full set of documents that has become an industry standard. For example, the list does not include a KYC policy, procedures for dispute resolution, or a conflict of interest policy. Moreover, the Privacy Policy text is focused on European legislation and compliance with GDPR, while it does not reflect the legal requirements of other jurisdictions.

The registration process also does not comply with the regulations adopted by the most reputable regulators. BeeMarkets collects only minimal personal data from potential clients and, immediately after the information is submitted and the email address is confirmed, grants full access to the personal account. The use of its functions is practically unrestricted: there is only a deposit limit before verification is completed (a rather high one — $10,000) and a restriction that allows financial operations only through cryptocurrencies.

All of this looks much more like the activity of a scam platform than that of a licensed brokerage firm. Considering the information presented above regarding registration and regulation, we are inclined to believe that the project was created solely to collect and appropriate traders’ money.

Is the Broker Offering Fair or Risky Terms for Traders?

BeeMarkets’ approach to publishing its trading conditions was a pleasant surprise. As we mentioned earlier, on the pages of the Market section, the broker provides tables listing leverage levels, spreads, and trading commissions for almost all available assets. Additional information is presented in the Spread and Commission sections within the Trade menu, as well as in the descriptions of the trading accounts.

As we can see, the company offers traders four account types, each available in versions for the FastBull 4 and CloudTrader 4 platforms. There is practically no difference in conditions between them, so in reality we are dealing with only four types of accounts.

Other parameters are also specified in the descriptions, such as a StopOut level of 50%, a minimum distance for pending orders of 0.1 points, and a maximum number of open positions of 200. In fact, the trading conditions are described in quite a detailed manner, which is generally not typical for scam brokers.

However, the approach to forming these conditions makes us reconsider this initial impression. For most traders, only one account type is actually available — Standard. To switch to the Expert tariff, at least six months of verified trading experience is required, while the conditions for Pro and Corporate accounts are not specified anywhere at all. At the same time, the broker does not conduct any client questionnaires or testing.

The company clearly knows how to attract users, promising significantly lower trading costs compared to other similar projects. However, we should say right away — we stopped believing in such generosity long ago. Therefore, we would like to draw our readers’ attention to a couple of important facts:

• BeeMarkets does not disclose swap rates. Meanwhile, they may account for a significant part of trading costs, especially if a trader uses strategies other than intraday trading.
• Client risks are extremely high. This is especially true for the Standard account, where leverage of up to 1:1000 is offered. With such leverage, the probability of losing the entire deposit within the first few trades is almost 100%.

Thus, cheap trading is nothing more than an attractive bait. The broker may claim that for a 1-lot trade (100,000 units of the base asset) it will receive only $3.2 in fees. However, in reality it is counting on much greater profits — namely the trader’s entire deposit.

We previously noted that the decision to obtain a license in Anjouan was most likely caused by the strict limitations imposed on trading conditions by the Australian regulator. Now we see clear confirmation of this: a company operating under ASIC supervision can offer retail traders leverage of up to 1:30, but not 1:200, and certainly not 1:1000. With such limits, the project’s owners would hardly make much money.

Technical Support Analysis of BeeMarkets

The contact information provided by the broker is also unimpressive. In fact, on the official website one can find only the registration addresses of companies that have no direct relation to this platform (in the website footer) and a support email address on the Contacts page.

There is no office address, no support phone numbers, and no online chat. In short, traders should not expect prompt and qualified assistance. It seems that BeeMarkets believes it has answered all possible questions in the FAQ, while client problems are not particularly important. For example, the company might reply to an email request within an hour — while during major news events a trader’s funds may already be draining from their account. After all, that money ultimately becomes the company’s profit.

However, we can understand the project’s owners from their perspective: apparently, they see little reason to make an effort. After all, during the entire period of operation (more than a year), the company has received only six reviews, four of which are negative. And if you look at their social media profiles, the situation becomes even clearer. For example, their Twitter channel appeared a year ago and has managed to gather an impressive total of 20 followers during that time. Quite an overwhelming level of interest in the broker, isn’t it?