Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.
BCS Forex review
Overview
Our 5-step process of verification and evaluation – How do we obtain information?
General inspection – 30%
Trading experience – 30%
Technical audit – 20%
Collective experience from collaborations with the broker – 10%
Interviews with real traders – 10%
See the entire process here.
Pros
Two commission-free accounts: Charging trading commissions on transactions is how many brokers make their profit. However, BSC Forex offers its customers two commission-free accounts; pro and direct.
Offers a range of tradable instruments: BSC has multiple trading instruments on its platform. Traders can access forex pairs, commodities, cryptocurrencies, CFDs, and stocks.
Popular Trading Platforms: BCS Forex provides clients access to the popular MetaTrader 4 and MetaTrader 5 platforms. These platforms are available on the web and the broker’s proprietary mobile app.
Conducive Trading Platform: The BCS Forex platform has an intuitive design interface, advanced charting tools, and automated trading options.
Exquisite Educational Resources: BCS Forex offers a range of educational resources, including basic training courses made up of videos and tutorials, an event calendar, and market analysis, to help clients improve their trading knowledge and skills. These resources are free for clients and cover various essential trading topics.
Cons
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Charges Inactivity Fees: Unlike many brokers who wait about 12 – 16 months before charging inactivity fees, BCS Forex charges its customers a $100 monthly inactivity fee after six months of an account’s dormancy.
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Charges Personal Income Tax: This review gathered that BSC Forex is a tax agent; hence, clients must pay personal income tax on every withdrawal.
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Limited Customer support: The customer support channels on BCS Forex are only available 24/5 between 9 a.m. and 9 p.m. GMT +3. This implies that trading hitches can only be resolved on weekdays and within the specified 12 hours.
General details
Customer reviews
score
Read real reviews from traders all over the world:
Accounts
Type of Trading Accounts
BCS Forex offers its customers 3 real trading accounts; NDD, Pro, Direct, and the Demo Account. These accounts share some similar features, but at the same time, each has its unique features. Its clients’ preferences and trading goals will determine the type of account they’d use. The collective and unique details of each BSC trading account are discussed below.
- NDD Account: The Non-Dealing Desk account (NDD) is the only account that can use the MetaTrader4 and MetaTrader5 trading platforms. It is recommended for professional traders who can manage both platforms effectively. The NDD account has an initial minimum deposit of $1, a minimum lot of 0.01, and its leverage ranges between 1:1-1:200. This account allows traders to choose USD or EUR as their base denomination. The spreads on the account start from 0.2 pips, and a commission of 0.003% is charged per trade. There are 39 trading instruments on this account, which are restricted to only forex currencies.
- Pro Account: Contrary to what the name might insinuate, this account is designed for beginners and experienced investors. Like the NDD account, the pro account uses USD and EUR as base denominations. The account also requires an initial minimum deposit of $1, a minimum lot of 0.01, and its leverage ranges between 1:1 and 1:200. However, the BSC Pro account is commission-free with a fixed spread of 1 pip. The account only uses the MetaTrader4 trading platform, and traders can access 115 tradable instruments of Forex pairs and CFDs.
- Direct Account: Similar to the accounts previously discussed, the Direct Account requires an initial deposit of a minimum of $1. It has a minimum lot of 0.01, leverage of up to 1:200, and uses USD and EUR as its base denominations. The account, which can only use the MetaTrader5 trading platform, has a variable spread of 0.7 pips and offers multiple tradable instruments, including cryptos, forex, and CFDs. The account is commission-free, and traders are allowed direct access to liquidity.
- Demo Account: This is a limited account designed for beginners who want to familiarize themselves with the trading environment or experienced traders who want to test new trading strategies without risking their capital. It offers virtual funds to practice BCS trading and access all the trading platform’s features.
Tradable instruments
Tradable instruments on BCS Forex trading platforms include:
- CFDs
- Metals
Frequently asked questions
Find the right answer to your question below.
No, BCS Forex is not a scam. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 048/04. The broker is also a subsidiary of BCS Financial Group, one of Russia’s finest financial companies. You can rest assured that your funds are secure on this platform.
The minimum deposit to open an account with BCS Forex is $1.
BCS Forex offers various deposit and withdrawal options such as bank transfers, credit/debit cards, internal transfers, and e-wallets.
No, BSC Forex is currently unavailable in the U.S. due to regulatory restrictions.
BCS Forex compared with alternative brokers
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
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3.9/ 5
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3.9/ 5
- N/A
- N/A
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3.5/ 5
- N/A
- N/A
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4.2/ 5
- CYSEC
- No
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See review
-
4.9/ 5
-
5/ 5
- $10
- 1:2000
-
4.8/ 5
- 1%
- $0
-
4.9/ 5
- No
-
See review
-
4.5/ 5
-
4.6/ 5
- $5
- 1:888
-
4.3/ 5
- $0
- $0
-
4.7/ 5
- ASIC, FSC, CYSEC
-
See review
-
4.9/ 5
-
4.9/ 5
- $10
- 1:2000
-
4.8/ 5
- $0
- $0
-
4.6/ 5
- FCA, CYSEC
- No
-
See review
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4.1/ 5
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4.2/ 5
- 0$
- 1:400 (1:30 for EU)
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3.9/ 5
- 0$
- 0$
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3.9/ 5
- FCA
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See review