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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.

3.9
/ 5

BCS Forex review

By azeshan
Updated on Aug 29, 2024
|
10 mins read

Overview

BCS Forex is a reputable online trading broker established in Russia in 2004. Despite being a Russian company, BCS Forex has global recognition with its presence in over...
See full overview for BCS Forex
Countries
Our Verdict
3.9
/ 5
Commissions & Fees
3.5
/ 5
Deposit & Withdrawal
3.9
/ 5
Customer Support
4.4
/ 5
Account Opening
3.7
/ 5
Regulation & Safety
4.2
/ 5

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

  • 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.

  • Charges Personal Income Tax: This review gathered that BSC Forex is a tax agent; hence, clients must pay personal income tax on every withdrawal.

  • 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

Type of accounts
Execution Model
ECN
STP
Deposit currency
AUD
EUR
GBP
USD
NZD
Regulatory complience
CySEC
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Russian
Autotrading
MQL.5 Signals MT4 EA MT5 EA
Contact details
[email protected] +7 499 677 10 70

Customer reviews

Read real reviews from traders all over the world:

M
Marshall Flowers
30 January 2023
Advantages: Minimum deposit there and commissions are low
Disadvantages: Lack of payment methods
This broker provides good trading conditions for both advanced and novice traders, and since minimum deposit and fees there are low, it's a great option. But I have to mention that there's lack of payment methods, and it was a problem for me. In general, it may not be a difficulty for some traders, and in that case, trading with this broker will be an amazing experience, so I highly recommend choosing this platform, there's just always room for improvement.
E
Errol Curtis
9 September 2022
Advantages: There are trading conditions for professional traders and large investors. The ability to invest in PAMM accounts and copy transactions through the broker's proprietary platform.
Disadvantages: No PAMM accounts
I will tell you my story about how I work with this broker. I have never encountered the market, I just read information about forex on the Internet, then I got to a broker. The manager called me, I won't give you my name. But the girl was very persistent and I consider this a plus, not a minus. Because if it wasn't for her, I probably wouldn't have worked with them. Because I believed all the nonsense that is written here. But, my manager convinced me otherwise. You know I believed it! And I want to thank her. I started working with $500 for the sake of checking what and how. I was given an expert, a competent man, always tells me what and how in the market. And it's nice that the deposit is growing every day. And the best part is that they WITHDRAW MONEY!The broker is really reliable.I really don't know who writes about the broker deceiving people, but I personally saw the opposite.
See all 13 customers reviews

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. 
DIRECT.MT5 - BCS Forex
Availability of a VIP account
Phone trading
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 5 MetaTrader 5 Mobile
Deposit currency
USD
EUR
RUB
Trading instruments
Forex
1:200
1:50
1:100
1:66
Cryptocurrencies
Stop Out
20 %
Minimum position size
0.01 units
Maximum position size
100 units
Execution type
instant
Spread type
Floating
Decimal places
5
Margin Call
100 %
Locked Margin Level
25 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
PRO.MT4 - BCS Forex
Swap-free account
Availability of a VIP account
Phone trading
Hedging
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
RUB
Trading instruments
Forex
1:200
1:50
1:100
1:66
Stop Out
20 %
Minimum position size
0.01 units
Maximum position size
100 units
Execution type
instant
Spread type
Floating
Decimal places
4
Margin Call
100 %
Locked Margin Level
25 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
NDD.MT4 - BCS Forex
Availability of a VIP account
Phone trading
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
RUB
Trading instruments
Forex
1:200
1:100
Stop Out
50 %
Minimum position size
0.01 units
Maximum position size
100 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100 %
Locked Margin Level
25 %
Commission
0.003%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
NDD.MT5 - BCS Forex
Availability of a VIP account
Phone trading
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 5 MetaTrader 5 Mobile
Deposit currency
USD
EUR
RUB
Trading instruments
Forex
1:200
1:100
Stop Out
50 %
Minimum position size
0.01 units
Maximum position size
100 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100 %
Locked Margin Level
25 %
Commission
0.003%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on BCS Forex trading platforms include:

  • CFDs
  • Metals

 

Currencies
30

Frequently asked questions

Find the right answer to your question below.

Is BCS Forex a scam?

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.

What is the minimum deposit required to open an account with BCS Forex?

The minimum deposit to open an account with BCS Forex is $1.

What are the deposit and withdrawal options available on BCS Forex?

BCS Forex offers various deposit and withdrawal options such as bank transfers, credit/debit cards, internal transfers, and e-wallets.

Is BSC available in the U.S.?

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.

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