BCS Broker Reviews and Full Information

What is BCS Forex?

BCS Forex is a global financial trading platform, as well as an asset broker established in the year the year 2016

BCS Forex is an online broker that provides over 420 trading instruments, such as commodities, currencies indexes, stocks and commodities. With two reliable trading platforms in addition to high-quality spreads and leverage, Read this review to determine whether BCS Forex is the right choice for you.

BCS Forex Company Overview

BCS-Forex Ltd was established in the year 2004. It is currently registered as BCS Markets Ltd, in Saint Vincent and the Grenadines. The company that is its partner FG BCS Ltd has its headquarters located in Nicosia, Cyprus.

With more than fifteen years of experience, the broker has diversified the F.X. services it offers to include sophisticated trading platforms and extensive training for traders of all levels.

Trading Platforms

MetaTrader 4

MetaTrader 4 (MT4) is a downloadable platform suitable for beginners and experienced traders. The main features are:

• 30 built-in indicators plus custom options
• 9 time-frames and 24 graphic objects
• Economic news feed
• Automated trading
• One-click trading
• Historical data
• Stopping trailing

BCS Forex trading platform

MT4 is available for download via the Trading Platforms page on the broker's site.

MetaTrader 5

MetaTrader 5 (MT5) offers all the same features as MT4; however, it has additional technical options, including:

• 21 time-frames 38 technical indicators 44 graphic objects
• Advanced Market Depth (Level II pricing)
• Economic calendar and financial news
• Hedging & netting

MT5 can be downloaded via the broker's website.

Markets

BCS Forex offers multiple financial instruments:

• Currencies Exchange 35+ spot currency pairs including EUR/GBP and USD/GBP and AUD/USD.
• Indices You can trade eight of the most popular world indexes, including those of the FTSE 100 and US 500, in addition to two Russian indexes, MOEX and RTS
• Stocks Stocks Access more than 40 U.S. stocks, including Tesla, IBM, and Facebook, as well as over 30 Russian stocks
• Commodities -- Commodities that trade precious metals and natural gas and oil
• Cryptocurrency - Trade on Bitcoin USD

Spreads & Commission

Spreads differ based on account type. The Direct account spreads begin at 0.7 percent on major currency pairs, like EUR/USD. For Global accounts, such as the NDD Global and Global account, the spaces start at 0.2 points or 1 point, respectively. Be aware they are not fixed in the Pro account and begin at 1 pip for EUR/USD.

Spreads on significant indexes like that of US 500 starting at around 8 points and then average approximately 40 for FTSE and the DAX.

Other expenses include a swap or rollover fee that is charged for positions that are not repaid overnight, as an inactivity fee of $100 per month. charge to accounts that have been left inactive for at least six months.

Leverage

BCS Forex offers fairly high leverage limits when compared with competitors. The maximum leverage on the different types of accounts is 1:200. For certain assets, the leverage levels and minimum margins differ as follows:

• Currencies - 1:200 leverage. 0.5 percent margin
• U.S. shares (U.S. stocks) 1:10 leverage. 10 percent margin
• Stocks of the Russian Union -- 1:20 leverage. Margin of 5%
• Metals - 1:100 leverage. 1 % margin
• Indexes 1:17 leverage. A margin of 6%.
• Energy - 1:9 leverage. Margin of 12%
• Bonds 1:150 leverage. 2.2% margin
• Softs 1:2 leverage. 9percent margin

Mobile Apps

BCS Forex mobile app

BCS Forex offers both the MetaTrader 4 and MetaTrader 5 platforms as a mobile application available for download onto every iOS as well as Android device.

The mobile application offers the same features of the web-based platform, but with ease of trade at any time, anytime, anywhere.

Features of mobile phones include:

• Interactive charts that can be scaled and scrolling
• Minimal traffic consumption
• Push notification help
• Friendly interface for users

Payment Methods

Deposits

BCS Forex offers several free options for deposits, including bank transfers that are in EUR and USD cards that accept USD, EUR, and RUB and e-wallets (QIWI as well as Yandex Tuesday) exclusively in RUB and internal transfers to accounts that are in USD, EUR or RUB.

Bank transfers can take 2 to 3 working days, whereas the e-wallet, card or internal options for transfer are immediate. All options are free However, there are additional charges for credit cards.

Withdrawals

For withdrawals, you can use the same options mentioned previously mentioned, however commission rates apply. If you are making bank transfers made in EUR and USD, the commission rate is EUR40 and $35, respectively. Card transactions and e-wallets will be charged 2.5 percentage, while the rate for Qiwi Wallet and Yandex Money the cost is 3.5 percent. Internal transfers are completely free.

The processing times can vary. E-wallets and internal transfer transactions are immediate, while card transactions require between 1 and 3 days, while bank transfers can take between 2 and 3-day working time.

It is important to note that internal transfers between accounts are possible only within one platform for trading (MT4 or the MT5) and not between the two platforms.

Demo Account

BCS Forex offers a demo account for beginners to test and practice different trading strategies. Demo accounts is available when you sign up to create a personal account on the site. The users are free to pick between MT4 and MT5, however, they must specify certain requirements upon signing up including leverage and currency.

Deals & Promotions

Wealthy and active clients with a high net worth on BCS Forex can earn Tripcoins to be used to purchase travel privileges like flights and hotels. However, customers will need to have a amount of at least $20,000 in order to qualify for the 500-dollar welcome Tripcoins bonus.

Note 1 Tripcoin equals 1.5 cents.

Regulation

BCS-Forex Limited is a registered company within Saint Vincent and the Grenadines and has an office in Cyprus. However, the broker isn't licensed through any reputable regulators like CySEC or the FCA as well as CySEC. We'd advise cautiously when opening an account as there's a chance that you won't receive the same level of protection offered by other brokers.

Additional Features

BCS Forex offers several extra tools for traders, such as:

• A calendar for the economy
• An introduction to training for newcomers.
• Expert market forecasts and analysis

Account Types

BCS Forex offers four account kinds, all of which use either the MT4 or MT5 platform with an opening account deposit of $1. The leverage limits are the same for all four options , at 1:200. The minimum amount for a position of 0.01 lots.

The primary differences between the accounts are the instruments that are traded as well as the spreads available and the type of execution and other features, like demo accounts being available. Both the Pro Direct and the Pro-Direct accounts offer demo accounts and are the most suitable choice for those who are new to trading.

• PDF (non-dealing desk) - Uses MT4 & MT5. The only way to trade in FX.
• Global - Uses MT5. Trade-in CFDs, FX, and cryptocurrency
• Direct - Uses MT5. Trade-in CFDs, FX and crypto
• Pro - Uses MT4. Trade on FX & CFDs

Benefits

Customers of BCS Forex benefit from:

• Minimum deposit
• MetaTrader 4, as well as MetaTrader 5 platforms
• Good customer support
• Free banking service
• Four types of accounts

Drawbacks

Some disadvantages to using this brand are:

• U.K., Europe, and the USA not recognized
• $100 fee for inactivity after six months
• Special promotions for beginners

Trading Hours

The timing of trading varies based on the market and the type of account. They are detailed at the Contract Specifications page.

For F.X. hours, accounts such as the Pro, Global, and Direct accounts are 24/5 (0:00 Monday through 23:55 Friday (00:05 Monday to 23:55 Friday) as well for those with the NDD account, the trading times are from 24/5 (00:05 Monday through 23:55 Friday EET).

For silver, gold, and platinum, the market opens on Monday at 01:00 , and finish on the Friday, at 23.55.

Hours for markets such as stocks and other can be found on the broker's site.

Customer Support

It is the BCS Forex customer support service is open Monday to Friday between 9:00 am and 9:59 pm, GMT+3. There is no telephone number, however, they can be contacted via email at support@bcsmarkets.com or by using the call-back request form.

There's the option of an online chat feature accessible from the right side of the page. When I tested the service, replies were delivered within a few minutes.

BCS Forex Ltd is registered at Suite 305, Griffith Corporate Centre, P.O. Box 1510, Kingstown, Saint-Vincent and the Grenadines.

Trader Security

To ensure that data exchanges are secure and safe The MT4 as well as MT5 platforms meet industry-standard security standards, including 128 bits of Secure Sockets Layer (SSL) encryption.

BCS Forex Verdict

With many years of experience, primarily in Russia, BCS Forex has a wealth of experience. Russian market BCS Forex provides a an attractive offer for novices as well as experts. BCS Forex offers a variety of accounts, including two of the most well-known platforms, as well as a good collection of educational resources. The only issue we have is the uncertain regulatory status. To ensure a safe trading environment, we'd prefer to obtain a license with one of the well-known regulatory bodies.

Accepted Countries

BCS Forex accepts traders from Thailand, Canada, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and many other countries.

The traders cannot utilize BCS Forex from Afghanistan, Algeria, Angola, Australia, Colombia, Cote D'Ivoire, Cuba, Congo, Eritrea, United Kingdom, Iran, Iraq, Japan, Lebanon, Liberia, Libya, Myanmar, Nigeria, Korea, Pakistan, Sierra Leone, Somalia, Sudan, Syria, United States, Yemen, Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden.

Alternatives to BCS Forex

If you're looking for other alternatives for BCS Forex, we have compiled an overview of the top five brokers that are comparable BCS Forex. BCS Forex below. This list of brokers that are similar to BCS Forex is in order of similarity, and includes only brokers that accept traders from your area.

1. RoboForex RoboForex RoboForex is an online multi-asset broker with powerful trading aids.
2. LiteForex Investments - LiteForex Investments Limited is an authorized Forex & CFD broker offering the MT4 and MT5 trading platform.
3. T.P. Global F.X. - T.P. Global F.X. offers a extensive list of well-known financial instruments with spreads starting at 0.1 pip. With a strong focus on transparency and innovation, the company is a growing company.
4. FXChoice FXChoice FXChoice is an offshore retail broker providing the MT4 platform and MT5 platform downloads.
5. OctaFX OctaFX provides multi-asset trading using a variety of platforms and mobile options.

FAQ

What kind of accounts are available? BCS Forex offer?

BCS Forex offers four different types of accounts: Global, NDD Pro, Global and Direct. Minimum deposits and leverage limits are the same for all accounts. The difference lies in the instruments that are traded and the availability of demo accounts. It is the Pro and Direct accounts are the most popular options for novices.

How do I create my account at BCS Forex?

To start trading accounts first, you must first sign up for a Personal Account (P.A.) through the site. Once you have logged into your P.A. portal, you'll then be able to select the account you want to create.

What amount of capital do I require to invest in BCS Forex?

The initial deposit on each account is one dollar, which makes it available to traders who are new. The minimum size of trade of 0.01 lots.

What leverage options are available What leverage is available at BCS Forex?

Leverage for the accounts is ranging from 1:10 up to a maximum of 1200. Visit the website of the broker to find a breakdown of leverage rates for various accounts.

Does BCS Forex regulated?

BCS Forex is not regulated or licensed by any significant regulator. Instead they are registered with Saint Vincent and the Grenadines.