Bacera Review

Bacera (BCR) is an online CFD broker with trading licenses in Australia and the British Virgin Islands. The broker offers over 80 trading instruments to clients. These trading instruments cut across five asset classes (Forex, commodities, indices, metals, and shares. The broker is registered in Australia as Bacera Co Pty Ltd (BCR) and has offices in Australia.

Although the Australian website caters particularly to Australian clients, BCR has another website that caters to the needs of international traders from different jurisdictions worldwide. All traders can use the Bacera MetaTrader 4 trading platform to set up, execute and manage their trades.

This review will discuss the main features and other important information about BCR traders.

Supported Countries

Bacera's Australia website caters to only clients from Australia. As such, clients from outside of Australia may not use the platform. International traders seeking BCR trading services have to go through the international website. This website supports traders from multiple jurisdictions around the world.

However, BCR does not provide financial services to residents of the following countries: Central African Republic, Democratic Republic of Congo, Guinea-Bissau, Iraq, Lebanon, Mali, Somalia, South Sudan, Sudan, Yemen, North Korea, Iran, Libya, The Former Federal Republic of Yugoslavia, Myanmar, Russia/Ukraine, Syria, and Zimbabwe.

In addition, residents of Australia, Canada, and the United States are not allowed to use access to clients' services from the international website. These restrictions are in place to help the broker stay compliant with local regulations.

Customer Service Rating

Bacera does not have a page on Trustpilot. However, on their Facebook page, the parent company, BCR Co. Pty Ltd, has a 4.9 rating based on 40 reviews. However, this rating system may be unreliable, so we recommend clients study the broker before using their services.

From our research, the broker offers a conducive trading environment, particularly for traders from Australia. (Australia's traders may also notice that their allowed leverage is smaller than the international leverage due to AISC regulations).

Bacera Trading Platforms

Bacera does not have any preparatory trading platforms. Clients accessing BCR trading services must use the MetaTrader 4 trading platform. The MT4 trading platform is available as a mobile app for Android and iPhone users, a web trader accessible via a website browser, and a computer application on Windows and Macintosh devices.

Type of Trading Accounts on Bacera

Bacera has three regular trading accounts, one trading account accessible only by non-Australian traders and a Pro account for advanced, professional traders. BCR also provides demo traders for beginners and swap-free trading accounts for traders who want to comply with their religious faith. Let's examine these trading accounts briefly.

• Standard: This account has a minimum deposit requirement of $300. it also has the highest spreads starting from 1.7 pips. It offers commission-free trading with up to 1:400 leverage. The supported currency is USD, and the maximum lot per transaction is 10 lots. It is also available for swap-free traders. The Standard account is not available for Australian residents.
• Advantage: This account is available to all clients. It shares similarities with the Standard account. The only differences are that its spreads start from 1.2 pips, and it supports both Australian dollars and United States dollars as account currencies. The Advantage account is available to Australian traders but is limited to 1:30 leverage.
• Alpha: The Alpha account requires a $500 minimum deposit to attract 5 AND/6 USD commission per round turn. Traders can enjoy spreads as low as 0.0 pips, up to 1:400 leverage, and a maximum of 20 lots per transaction. However, like the Advantage account, Australian traders using the Alpha account are limited to 1:30 leverage.
• Pro: The BCR Pro account is only available on the Australian version of the BCR website. It offers 1:400 leverage, negative balance protection, and margin close-out. This account is available to clients with net assets worth at least A$ 2.5 million or who have a gross income for the last 2 financial years of A$ 250,0003. Clients can also become eligible for the Pro account by either demonstrating their product knowledge, making at least 75 margin trades with a firm over 12 months., or making at least 50 margin trades of A$25,000 notional size for CFD shares or A$50,000 for Margin FX, CFDs over Indices, Commodities, Currencies and Metals with a firm over 12 months. Traders who have worked in the financial sector for at least one year in a professional position or possess relevant formal qualifications may also qualify for the Pro account.
• Swap-free accounts: The Standard, Advantage, and Alpha accounts have swap-free versions. The trading conditions are similar to the underlying account. For instance, a swap-free version of the Advantage account has similar conditions as the Advantage account. The difference is that all Swap-free accounts have a $300 minimum deposit requirement and support the United States and Australian dollars as account currencies regardless of the underlying account type.
• Demo trading: The Demo trading account is available for novice and advanced traders who want to test new strategies. It offers USD and AUD for Australian residents and USD, AUD, GBP, and EUR for residents of other supported countries.

Trading Denominations on Bacera

Bacera only supports two denominations: Australian Dollars and United States Dollars. Clients using the Standard account are limited to using United States Dollars as their account currency. Clients can access Australian Dollars or United States Dollars using the Advantage, Alpha, or Pro account. The Swap-free account also supports AUD and USD as account currency, even if you use the standard account's swap-free version.

Company Structure

BCR is an Australian-regulated investment firm in Australia that offers Contracts for Difference (CFDs) on 5 asset classes: Forex, Metals, Commodities, Indices, and Shares. The company is registered as Bacera Co Pty Ltd (BCR) in Australia with AFSL No. 328794.

The trader offers several benefits and bonuses for clients based on their trading activities and non-trading achievements. It is currently listed as one of the best 100 forex brokers. 

Bacera Licenses and Regulatory Compliance

BCR (Bacera Co Pty Ltd) has trading licenses in two regions. 

• BCR (Bacera Co Pty Ltd) is licensed and regulated by ASIC (AFSL No. 328794)
• BCR is authorized and regulated by the British Virgin Islands Financial Services Commission (certificate no. SIBA/L/19/1122)

Bacera Customer Protection 

BCR stores all client deposits in a fully segregated client money account in a top-tier Australian bank (Commonwealth Bank of Australia). This account is established and operated per Australian Client Money Rules. 

Trading Information

BCR offers several trading features and advantages, making them ideal for numerous traders worldwide. These benefits include a wide range of trading instruments, educational resources, and appetizing leverage.

Tradable Instruments

Tradable instruments on the Bacera trading platform include

• 30+ Forex CFDs
• 10+ Stock CFDs
• 3 Commodity CFDs 
• 10 Indices CFDs
• 3 Metal CFDs

Bacera Leverage

BCR offers up to 1:400 leverage to trading clients. However, the amount of leverage depends on some factors. The primary factor is your country of residence; the other is your account type. 

Residents from Australia are limited to the Advantage and Alpha accounts and may only access up to 1:30 leverage. Those looking to trade with higher leverage (up to 1:400) must sign up for the BCR Pro account. International traders have access to up to 1:400 regardless of their account type.

Deposits and Withdrawals on Bacera

Bacera offer free deposits and withdrawals on all withdrawal and deposit methods.

Deposits

Withdrawals

Bacera Trading Education and Training

Bacera offers a variety of =educational resources. These resources are:

• Education: The Education section on the BCR website provides insight into derivative trading, trading information, marketing analysis, and how to access the MT4 trading platform. These resources are helpful to those starting Forex or using the BCR platform for the first time.
• Glossary: The broker offers a glossary on all essential terminologies used in trading. This resource will help beginner traders understand market terms and how they apply them to their trades.
• Market Live: The Market Live age provides financial news that may help traders, partially those who use the news trading strategy. However, traders should note that the information on the page does not count as financial advice.
• BCR Market Insight: BCR offers weekly marketing forecasts, daily recommendations, weekly outlooks, and monthly wrap-up to traders. These resources are partially helpful to beginner traders who do not have the skills or resources to analyze the entire market independently.

FAQs

Is BCR Scam?

- Bacera is not a scam. It is registered in Australia as Bacera Co Pty Ltd and holds trading licenses in Australia and the British Virgin Islands.

How do I open a Bacera Forex trading account?

- Visit Bacera Website and select "Open account" at the top of the page. 

Is Bacera (BCR) only available to Australian residents?

- No. BCR services are open to both Australians and non-Australians. The site for Australian traders is https://au.thebcr.com/en, while the site for international clients is https://cfds.thebcr.com/en

Are US residents allowed to trade with BCR?

- No. Becara cannot directly offer its services to US residents because the company is not licensed by US regulatory authorities. However, US citizens can use the broker if they are in a non-restricted area. 

Conclusion

Bacera (BCR) is an online Forex and CFD broker with convenient features for beginner, casual, and professional traders. The range of accounts accommodates all types of traders, including traders seeking to comply with Islamic laws. They also offer competitive spreads, commission fee accounts, and up to 1:400 leverage on selected accounts.

With the MT 4 trading platform support, clients can enjoy further functionalities such as Expert Advisors trading, charting tools, indicators, and many other features. The minimum deposit requirement is high ($300 - $500) compared to other bookers, but the features are worth trying. The broker also offers free deposits, withdrawals, and support for multiple payment platforms.

We recommend BCR, particularly for Australian traders, since they can access more features and client money protection. The only drawback is the limited leverage of 1:30. 

For more top brokers, make sure to check out our XM review and HotForex review.