Bric Trade is a trading app designed to assist new traders in gaining essential skills and understanding of the stock market. The app offers an online tutorial based on real-life examples, providing users with a comprehensive overview of how the stock market operates and how to capitalize on market movements effectively. This tutorial is particularly beneficial for new traders who may lack prior experience in trading. The Assets of Bric Trade are Cryptocurrency, Stocks and Forex. Bric Trade has rating of 4.3/5 in play store with more than 30.8K reviews and the number of downloads exceeds 1 million. The registered address of this platform is gf-58-59, world trade centre, barakhamba lane, Abhipra Capital Limited. This platform has website https://www.brictrade.com/ and the founder of Bric Trade is not disclosed.
In addition to the tutorial, Bric Trade also provides a blog that covers various topics related to trading. These blog posts aim to enhance users’ knowledge and skills, ultimately helping them become more proficient traders. By offering both educational resources and practical insights, Bric Trade aims to empower traders and contribute to their success in the market. Individuals should be aware that RBI has added Bric Trade to the Alert List of unlicensed forex trading platforms. Along with that, Bric Trade is not registered by SEBI.
Features of Bric Trade
| International Recognition | Leader in the online trading industry, trusted by over 1,000,000 clients worldwide. |
| Free DEMO Account | Access to a free and replenishable $10,000 virtual funds DEMO account for practice and learning purposes. |
| Low Investment, High Profit | Start with a $20 minimum input amount and potentially earn up to 90% profit on a single trade. |
| No Delay in Transactions | Deposit and withdraw funds using various payment methods with quick processing and no delays. |
| Free Training and Educational Resources | Access to handy tips and educational video tutorials directly on the platform for improved trading knowledge and skills. |
| 24/7 Support | Immediate multilingual support from professional client service representatives, ensuring prompt assistance at all times. |
| Deposit & Withdrawal | Utilize multiple payment methods without commissions or delays for deposits and withdrawals. |
Pros of Bric Trade
- Allows users to practice and learn with $10,000 virtual funds.
- Offers a $20 minimum input amount and up to 90% profit for a single trade.
- Many users appreciate the app’s easy navigation and withdrawal process.
- Provides multiple payment methods for deposits and withdrawals.
- Offers prompt and multilingual customer support, available 24/7.
- Claimed to be trusted and beloved by over 1,000,000 clients.
Cons of Bric Trade
- While some users praise the app’s features, others report negative experiences such as delays in fund transfers and difficulties in trading.
- Investing in trading platforms like Bric Trade carries substantial risks, as mentioned in the app’s risk disclosure.
- Some users allege that the app’s trading graphs and outcomes are manipulated, leading to losses.
- Several users complain about delays or failures in withdrawing their funds from the app.
- A few users express concerns about the app’s security and reliability, particularly regarding fund deposits and withdrawals.
Potential Risks
- Loss of Funds:
Several users reported losses and difficulties in withdrawing funds, indicating potential issues with the app’s trading mechanisms or withdrawal process.
- Manipulated Graphs:
Some users mentioned concerns about manipulated graphs that led to losses, raising questions about the app’s fairness and transparency in trading.
- Delay in Withdrawals:
Numerous complaints about delays in fund withdrawals suggest possible inefficiencies or technical issues with the app’s withdrawal system.
- Customer Service:
Several users expressed dissatisfaction with the app’s customer support, citing unresponsive or unsatisfactory resolutions to their queries and issues.
- Depositing Issues:
Some users encountered problems with depositing money, including issues with OTP verification and payment processing, highlighting potential technical glitches or payment system issues.
- Scam Allegations:
Multiple reviews labeled the app as a scam or fraudulent, indicating significant trust and credibility issues among users.
- Inconsistent Performance:
Users reported inconsistencies in the app’s performance, such as discrepancies between demo and real accounts and unexpected behavior during trades.
Conclusion
Bric Trade is an educational trading app offering tutorials and blogs to help new traders learn about the stock market. It provides a free demo account, low investment options, and 24/7 customer support. However, it carries risks, including mixed reviews, potential manipulation concerns, withdrawal issues, and security concerns. RBI’s Alert List adds to the caution. In conclusion, while Bric Trade offers valuable learning resources, users should be aware of the substantial risks involved in trading on the platform, including possible losses, manipulated graphs, and withdrawal delays.
