How to Get Started with bemfunding.com

Getting started with bemfunding.com is a straightforward process, primarily involving account selection and payment of the initial challenge fee.

However, before proceeding, it’s crucial for any individual, especially those adhering to Islamic financial principles, to understand that this initial step immediately engages them in a transaction that is ethically problematic due to its resemblance to gambling and speculative nature.

While the process is simple from a technical standpoint, the underlying implications for financial permissibility should be carefully considered.

Step-by-Step Onboarding Process

The process for getting started with bemfunding.com typically follows these steps:

1. Visit the Website: Navigate to the bemfunding.com homepage.
2. Explore Options: Review the “Evaluation Process” and “Challenge Type” sections to understand the different account sizes and rules available (e.g., BEM Classic, Crypto Mastery).
   • Account Types: BEM Classic (Normal) and Crypto Mastery.
   • Account Sizes: Choices typically range from $5,000 up to $100,000 or more in simulated capital.
3. Choose Your Challenge: Select the desired account size and challenge type. The website clearly displays the associated “Registration Fee” for each option. For instance, a $5k account might have a $39 fee.
4. Proceed to Checkout: Click on the “Get Started” button, which typically redirects to a checkout page (e.g., checkout.bemfunding.com).
5. Complete Registration Details: Provide necessary personal information to create an account. This usually includes name, email, and potentially other identification details.
6. Make Payment: Pay the non-refundable registration fee using the accepted payment methods.
7. Access Trading Platform: Once payment is confirmed, you will receive credentials and instructions to access their simulated trading platform (e.g., “Trading Space”).
8. Begin Trading: Start trading within the simulated environment, aiming to meet the profit targets and adhere to the risk management rules of Phase 1 – The Challenge.

Prerequisites and Requirements

While the website doesn’t explicitly list technical prerequisites on its homepage, generally, to participate, you would need:

• Internet Connection: A stable and reliable internet connection.
• Trading Device: A computer or mobile device capable of running their trading platform or software.
• Trading Knowledge: Prior knowledge and experience in FX or cryptocurrency trading are essential, as the challenges are designed for skilled traders, not beginners. The website states it’s “Developed By Traders For Traders.”
• Risk Management Understanding: A strong grasp of risk management principles is critical to adhere to their strict drawdown rules.

The Ethical Hurdle at the Start

The initial act of paying the “Registration Fee” is where the primary ethical concern arises for Muslims. This fee is paid for a chance to win a larger “profit split” from simulated trades, with the risk of losing the initial fee if the challenge is not passed. This structure fundamentally resembles a contract of maysir (gambling), where a stake is placed on an uncertain outcome. In Islamic finance, transactions should involve a clear exchange of value, shared risk in real assets, and avoidance of speculative games where money is lost for no tangible return. Therefore, even the very first step of getting started with bemfunding.com places an individual in a situation that is generally considered impermissible.

Alternatives for Ethical Skill Development

Instead of participating in such challenges, individuals aiming for ethical financial growth should consider:

• Direct Investment in Real Skills: Invest the “registration fee” in high-quality online courses (e.g., Udemy Courses, Coursera Specializations) that teach real-world, marketable skills like software development, graphic design, or project management. These skills can lead to legitimate employment or entrepreneurial ventures.
• Halal Entrepreneurship: Use the capital to start a small, halal business, engage in ethical e-commerce (e.g., Shopify), or offer services where genuine value is exchanged.
• Education in Islamic Finance: Study Islamic finance principles to understand permissible investment and business models, guiding future financial decisions towards truly ethical avenues.

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