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Berndale Capital Review - Is it scam or Safe?

Berndale Capital Review - Is it scam or safe?

RATING: 1 / 16 REVIEWS ForexBrokerz Berndale Capital
Berndale Capital is an offshore broker. Your money is not safe.


Trading Accounts


Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads 
Classic $500   0.01 1:400 from 1.5 pips on EUR/USD
ECN $2 000  0.01 1:400 from 0.0 pips on EUR/USD + commission $5 per standard lot per side
ECN Pro $10 000  0.01 1:400 from 0.0 pips on EUR/USD+ commission $3.5 per standard lot per side


The broker offers its clients a choice of three account types. All of them provide the investor with full access to the globally recognized MetaTrader4 trading platform and flexible leverage from 1:100 to 1:400. What is more, micro lots are available for trade on all account types.

The Classic account is commission-free, while the ECN ones involve a commission, but provide minimum spreads as low as zero.

Moreover, a free Demo account is also available, which is always appreciated by newbies. This broker, however, does not offer Sharia-compliant swap-free service to investors of Islamic belief.

The Company. Security of Funds

Berndale Capital is an Australian forex broker brand belonging to Berndale Capital Securities Pty Ltd. The company was formed in 2012 and was regulated by the Australian Securities and Investment Commission (ASIC). In November 2018, ASIC canceled the broker's license because it failed to comply with a number of regulatory requirements.

The broker provides Straight-Through-Processing trading model, offering 64 Currency pairs for trade, precious metals (Gold & Silver), Stock Indices and WTI Crude Oil.

Australia has become one of the main forex hubs in the world due to the favorable conditions for both brokers and traders: scalping and hedging are allowed, the FIFO rule is not applicable, and there is no leverage cap.

The Australian watchdog applies certain rules and requirements to license holders, such as clients’ money rule: Client funds must be kept in segregated trust accounts, and Berndale Capital states on its website that all money held on behalf of their clients is located within a segregated trust account of Commonwealth Bank of Australia. What is more, ASIC has set a minimum capital requirement and forex brokers must hold at least $ 1 million as a proof of good financial standing.

Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent.

Trading Conditions

Minimum Initial Deposit
Berndale Capital requires its clients to deposit at least $500 in order to open an account with them. This is not a very high initial deposit, yet it may prevent some small investors from becoming clients of this broker, since leading Australian broker CMC Markets has set no minimum deposit requirement and XM (holding, among others, also an ASIC license) demands just $5 from its clients as a start.

Average Spreads & Commissions
Spreads offered by Berndale Capital are variable spreads, starting from 1.5 pips for the EUR/USD pair on the commission-free account and such spreads are considered comparatively high. In comparison, XM also offer variable spreads from 1.0 pips on EUR/USD on its commission-free accounts.

The spreads on ECN accounts, on the other hand, are competitively tight, the minimum ones amounting to zero. In order to get remuneration for its services, the broker applies a commission of $10/$7 per lot round turn for the ECN/ECN Pro account respectively, which is a quite reasonable amount. In comparison, XM also provides spreads starting from 0 pips on its Zero account, quoting as typical a spread of 0.1 pips on EUR/USD, and applies a commission of $5 per standard lot.

For more information, you may check out and compare real-time spreads of 15 leading brokers here.

Maximum Leverage
This broker offers leverage up to 1:400 which is at the upper end of the industry’s standard and is considered a high rate. Nonetheless, most ASIC-regulated brokers offer similar or higher leverage levels: CMC Markets – 1:500 and XM – up to 1:888. Here is a list of FX brokers offering leverage equal to or exceeding 1:500.

Traders, however, should be mindful of high leverage, for trading on margin may both multiply their profits on a small deposit and lead to heavy losses exceeding their initial investments.

Trading Platforms

Like most FX brokers, Berndale Capital supports the world’s leading trading platform MetaTrader 4 (MT4), which is fully customizable for just about any trading situation, skill level and preference. With this broker it is available as desktop and mobile version. MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, one-click trading option, Expert Advisers (EAs) and extensive back-testing environment. 

EAs allow full automatization of trades and what is more, Berndale Capital has partnered with MyFXBook to provide its clients with an access to their unique platform Autotrade, specialized in copy trading.

In addition, this broker offers managed accounts, stating average returns of between 5-7% per month. This option, however, is not available to new investors.

Payment Methods

With Berndale Capital investors can choose between bank wire transactions, payments via credit cards (VISA and MasterCard) and e-wallets Skrill, Neteller and FasaPay.


Berndale Capital is an Australian broker, providing fast market execution and transparent pricing. It offers attractive conditions for trading in currency pairs, commodity and stock CFDs, and some precious metals through the famous MT4. Here are, in a nutshell, the Pros & Cons with regard to this broker:


Pros  Cons
Low Spreads  ASIC license cancelled
MT4 available No Choice of trading platforms


Latest news about Berndale Capital
Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Berndale Capital
















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Dishonest Broker

Berndals licence cancelled. No money refunded to clients. With ASIC's poor record at prosecuting criminals, these guys will probably walk with our money.
In Australia its a joke to be called ASIC regulated. Tried to get slater and Gordon involved. At this stage no luck. You must lodge complaint with AFCA, the new Fos office, report to police and complain to your local Federal member of parliament and get them to write to ASIC on your behalf. In an election year, may get some traction.

Christopher Morson 02/10/2019

Berndale Capital class action

How do we get a class action to get our money back

Ray 01/05/2019

Monies Lost

It appears that all money is lost. Have nothing to do with this broker, They are con artists

Chris Morson 12/31/2018

I cannot access my account

I suddenly I cannot access my account and i can't raise anyone 8n their cannot raise anyone in their office 0386099789 have they closed for the Christmas break?? Or have I been scamned,? BRIAN

Brian Walsh 12/21/2018

Trying to get my money back - they are ignoring my withdrawal applications

I tried everything - seems from today their website is down (404 Not Found The resource requested could not be found on this server!)

My trading accounts in MT4 were disabled this morning and then all links to trading servers went down
Has anybody tried to report Berndale to the Police? Their CBA account was a segregated trust account so under police (or court) order we could get our money back from CBA

Eugene Volski 12/21/2018

scammed by berndale capital

i have been trying to withdraw my funds from my trading account,for 7 weeks .They continue to use excuses like. there lines are down or accounts are busy with back log of withdrawals and just have to wait.When told i would contact ombudsmen they replied....Do that if you want but you will then have to wait 12 months before you recover your money.They refuse to respond to emails or phone calls

Michael Vincent 12/20/2018

Stavro D'Amore banned for dishonesty

Berndale Capital Licence Cancelled Stavro D'Amore banned for dishonesty.

Graham Rogers 12/01/2018



Berndale ignores withdrawal requests. You will lose any money you give to them.

Annonymous 11/15/2018

Scam persons alert Berndale Capital

SHOW TO THE WORLD! Get known main SCAMMERS from Berndale Capital who FRAUD people! SCAM ALERT! SHOW and SHARE! SHARE! SHARE! They are ignroing to pay clients money. They use for luxury life our money! They are not responding to the regulator but continue fraud people!
Stavro d Amore with his wife fitness coach Nataliee Adele
Chris Kaltzidis with his wife Maria Kaltzidis
Ana Milos
Lucjan Roczniak aka Lucjan Roz
Denny Bejan with wife Dyana Bejan
Frankie Azzopardi

Address: 27 Collins St, Melbourne VIC 3000, Australia
ACN: 113 616 032
ABN: 16 113 616 032

FBI 10/08/2018

Berndale Capital scam - fraud

Berndale Capital FRAUD people. They are NOT processing withdrawals. They HOLD clients money and spend for owner luxury life!

Forex 09/27/2018

Stavro D'Amore - long time crook

Stavro D'Amore is a big time crook and his broker Berndale has been systematically not paying out clients and scamming them for years:

scammed berndale client 09/26/2018

Don't invest with associate Berndale companies like

TLDR Money held with Berndale Capital. Trading through associated company FBTrading. You might not get your money back. 3.5 out of 5⭐ for performance of trading platform over 8 months (just over 13% return). 1 out of 5⭐ for return of funds. I only wanted the return of $6k and it's taken well over 2 months (not the 48 hours as detailed in the request form). At the time of writing still no return of funds. Full account below.

Full details:
Berndale Group Pty Ltd (ABN: 16 113 616 032) holds the licence and sub companies hold the funds / supply the trading software.

Initial request for closing account sent on 26 May 2018. 28 May reply asking to use an online link to close. This link said return of funds around 48 hours.

8 June I was asked by FBtrading (FB) why I'm closing account. General reply of concerns that a return of around $81 after the fund was drawn down around $1800k (without a downside limit) is too great a risk for the return. I felt pressure in trying to be kept as a client.

11 Jun sent email confirming discussion with FB rep as requested.

25 June I sent a follow up email.

On 27 June email sent asking for the following:-
A utility bill showing your current address.
A bank statement showing your current address

6 July I provided this.

Follow up phone call.

I was advised that Fbtrading is a separate business from Berndale capital. An email arrived around December which had Berndale logo in the signature which suggests overlap.

No follow up phone call. Will look to ASIC next.

Lance 07/30/2018

They will lose your money

I unfortunately invested with Berndale Capital which has been the worst investment l have ever made. As others have mentioned they promise the world with a managed fund then supine the account (lose) every cent.

If investing money stay well away from Berndale they are spin doctors. They never ever return phone calls no matter how many calls you make. How the investment industry allows Berndale to trade is beyond any reasonable understanding.

I will be contacting the Victorian branch of the ACCC, ASIC and fair trading, may not get anywhere but capture Berndale as running a very bad and untrustworthy trading platform.

Michael Dedman 01/16/2018

They lost my money

The company has lost $13,000 of my super fund,. They are always very slow to send me statements and often require 4 calls before I get a response . The acc manager is a fast talker and repeats himself 4 times in a call. BS co.

I sent a message 1 hour ago re Berndale. Can I report them to ASIC or dept of fair Trading? Is there any class action against them? I called them today and the CEO is not there until tomorrow savro in the boss there. My mobile is 0407467953

michaelreynolds 10/11/2017

Berndale: Beware dont invest any money

False Promises. No Communication. Lost 80% of the deposited money.
They don't return your calls.
I have requested to refund and they didn't.
I have complained them to Ombudsman and still they don't respond to them.
Seriously guys. stay away from them.
Facebook has fake reviews, every one claiming they are making money, but infact they are loosing money.

Paddy 10/06/2017

Berndale Capital: The worst, the very worst

Beware of "Anna" and especially especially especially "Denny Bejan".
Promise, promise, promise, lie, lie, lie.
Wanted me to deposit $50,000 for a SMSF Managed Trading account. Cajoled, called, lied, promised 30% pa
Relented and gave them $6k. Now down to $2k. Every time I call they promise to put in credit, change the system things will improve.
Don't be an idiot like me. Run for your life.

Newie Dude 08/11/2017

long time follower of stavro d amore

he is a criminal who says he will treat me like his father, poor barsted, hope he is dead so he dosent know what an arsehole his son is, and his henchmen, danieal kirby, chris kaltzidis,lucjon,amanda etc etc .he should never have accepted me as a client when i disclosed that i am an old aged pensioner (73) and the $30,000 he took off me was 1/3 of my total worth to live on for the rest of my life.
i now find their email adresses are cancelled, so i guess they are now gone !!!!!????????????cheers bryan

Bryan Hedges 07/19/2017

second chance

I have to say I have been pleasantly surprised by the latest interaction with Berndalecapital. I did have some misunderstanding about the handling of my account ,and was frustrated by the delays in getting account details.However I am satisfied that we can work through our problems and I see a different and professional side to the business.
I will write another review in the future and hope the change I see will continue into the future
Brian Baird

Brian Baird 02/15/2017


I have had the extreme misfortune of dealing with Berndale capital.I was lured to investing in a so called managed account with promises of a conservative return of 5% per month,but this return would be more like 10 % per month.I was given access to a client account which showed these kind of returns.In the first 3 months I had lost all my account,Berndale added some more funds and lost that as well.They had traded the account with extreme margin, in the hope of making up their own loss with commissions and fills at my disadvantage.
Despite many promises from CEO Stavro and staff not one of these has ever come to fruition.It has been a litany of lies for more than 8 months.I have every conversation logged,it makes for unbelievable study.The last promises today,earlier this week,last week.
My advice,steer well clear of this mob.

Brian Baird 11/25/2016
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