BCS Forex Review and Tutorial

BCS Forex is an online agent offering more than 420 tradeable instruments, including monetary standards, products, stocks, and records. With a decision of two confided in exchanging stages, just as cutthroat spreads and influence, read this survey to see whether BCS Forex is appropriate for you.

BCS Forex Company Overview

BCS-Forex Ltd was established in 2004 and is enlisted under BCS Markets Ltd in Saint Vincent and the Grenadines. Its accomplice organization FG BCS Ltd is situated in Nicosia, Cyprus. 

With more than 15 years of involvement, the specialist has extended its FX administrations to incorporate progressed exchanging stages and exhaustive preparation to suit all dealers’ degrees.

Trading Platforms

MetaTrader 4

MetaTrader 4 (MT4) is a downloadable stage reasonable for the two fledglings and experienced dealers. Highlights include: 

• 30 underlying pointers in addition to custom choices 
• 9 time spans and 24 graphical items 
• Monetary news channel 
• Robotized exchanging 
• A single tick exchanging 
• Chronicled information 
• Following stop 

MT4 can be downloaded from the Trading Platforms page on the specialist’s site.

MetaTrader 5

MetaTrader 5 (MT5) offers similar overall highlights as MT4 yet with added specialized highlights including: 

• 21 time periods, 38 specialized markers, 44 graphical articles 
• Progressed Market Depth (Level II valuing) 
• Monetary news and financial schedule 
• Supporting and mesh 

MT5 can likewise be downloaded from the dealer’s site.

Markets

BCS Forex offers different monetary instruments: 

• Monetary standards – Trade 35+ spot money sets, including EUR/GBP, USD/GBP, and AUD/USD 
• Lists – Trade eight of the world’s driving lists, including the FTSE 100 and US 500, just as two Russian lists MOEX and RTS 

• Stocks – Access more than 40 US stocks, including Tesla, IBM, and Facebook, in addition to more than 30 Russian stocks 
• Products – Trade valuable metals in addition to oil and gaseous petrol 
• Digital money – Trade on Bitcoin USD

Spreads & Commission

Spreads differ contingent upon the record type. With the Direct record, spreads start from 0.7 pips on significant money sets, like the EUR/USD. With the NDD and Global records, spreads start from 0.2 focuses and 1 point individually. Note that spreads are fixed on the Pro record and start at 1 pip for the EUR/USD. 

Spreads on critical files, for example, the US 500 beginning at around 8 focuses and normal around 40 for the FTSE and DAX. 

Different expenses incorporate a rollover or trade charge charged on positions held for the time being, just as a $100 month to month idleness charge charged to accounts left lethargic for a half year.

Leverage

BCS Forex offers genuinely high influence limits contrasted with contenders. The most significant influence across all record types is 1:200. For explicit resources, the necessary power and least required edge levels shift as follows:

• Currencies – 1:200 leverage. 0.5% margin
• US stocks – 1:10 leverage. 10% margin
• RU stocks – 1:20 leverage. 5% margin
• Metals – 1:100 leverage. 1% margin
• Indexes – 1:17 leverage. 6% margin
• Energy – 1:9 leverage. 12% margin
• Bonds – 1:50 leverage. 2% margin
• Softs – 1:12 leverage. 9% margin

Mobile Apps

BCS Forex offers both the MetaTrader 4 and MetaTrader 5 stages in a portable application, downloaded to any iOS or Android gadget. 

The versatile application generally offers similar highlights as the web stage, however, with the comfort of exchanging every minute of every day anyplace in a hurry. 

• Versatile highlights include: 
• Intuitive outlines with scaling and looking over 
• Least traffic utilization 
• Pop-up message support 
• Easy to use interface

Payment Methods

Deposits

BCS Forex offers a few free store alternatives, incorporating bank moves in EUR and USD, cards in USD, EUR, and RUB, e-wallets (QIWI and Yandex Monday) just in RUB, and inside move between accounts in USD, EUR or RUB. 

Bank moves take 2 to 3 working days, while e-wallet, card, and inside move choices are moment. All techniques are free. However, there might be outside expenses for Visas.

Withdrawals

Withdrawals can be made utilizing similar alternatives as above, yet commission rates will apply. For bank moves in EUR and USD, the commission is €40 and $35 individually. Card installments and e-wallets are charged at 2.5%, while for Qiwi Wallet and Yandex Money, the rate is 3.5%. Inward exchanges are free. 

Preparing times additionally differ. E-wallets and interior exchanges are moments, card installments take 1 to 3 days, and bank moves take 2 to 3 working days. 

Note that inner exchanges between accounts are just conceivable inside one exchanging stage (MT4 or MT5), not between both.

Demo Account

BCS Forex offers a demo account where amateurs can test and learn different exchanging techniques. A demo record can be opened once you pursue a Personal Account on the site. However, clients are allowed to pick between MT4 or MT5 but should determine a few boundaries upon join, like influence and money.

Deals & Promotions

Dynamic and well-off customers on BCS Forex can procure Tripcoins to spend on movement advantages like flights and inns. In any case, clients would have to hold an all-out surplus of basically $20,000 to profit with a 500 invite Tripcoins reward

Note 1 Tripcoin = 1.5 cents.

Regulation

BCS-Forex Limited is enlisted in Saint Vincent and the Grenadines and has an office in Cyprus. Regardless of this, the representative isn’t controlled by any notable controllers, like the FCA or CySEC. Therefore, we’d suggest alert when opening a record, as you may not get a similar level of lawful assurance found at different suppliers.

Additional Features

BCS Forex offers a few additional instruments for brokers, including: 

• A monetary schedule 
• An instructional class for fledglings 
• Master gauges and market examination

Account Types

BCS Forex offers four record types, which all utilize either MT4 or MT5 and require an underlying store of $1. Influence limits continue as before across each of the four choices at 1:200, and the base position size is 0.01 parts. 

The fundamental contrasts between the records are; the instruments exchanged, the spreads offered, the execution type, and extra highlights, for example, demo account accessibility. The Pro and Direct records both provide demo accounts and would be the favoured decision for novices.

• NDD (non-dealing desk) – Uses MT4 & MT5. Trade on FX only
• Global – Uses MT5. Trade on FX, CFDs & cryptocurrency
• Direct – Uses MT5. Trade on FX, CFDs & cryptocurrency
• Pro – Uses MT4. Trade on FX & CFDs

Benefits

Clients of BCS Forex profit with: 

• Cutthroat exchanging conditions and least store 
• MetaTrader 4 and MetaTrader 5 stages 
• Great client assistance
• Free financial help 
• Four record types

Drawbacks

Weaknesses of utilizing this brand include: 

• UK, Europe, and the USA not acknowledged 
• $100 idleness expense following a half-year 
• Restricted novice advancements

Trading Hours

They were exchanging hours shift contingent upon the market and record type. These are spread out on the Contract Specifications page. 

For FX, hours for the Pro, Global, and Direct records are 24/5 (0:00 Monday to 23:55 Friday EET), and for the NDD account, exchanging hours are 24/5 (00:05 Monday to 23:55 Friday EET). 

For gold, silver, and platinum, markets open on Monday at 01:00 and close on Friday at 23:55 EET. 

Explicit hours for stocks and different business sectors can be seen on the representative’s site.

Customer Support

The BCS Forex client care administration is accessible Monday to Friday from 9:00 am to 9:00 pm GMT+3. There is no phone number. In any case, they can be reached using email at support@bcsmarkets.com or by utilizing the get back to demand structure. 

There is additionally an online visit administration that can be gotten to on the right-hand side of the site page. After testing the assistance, reactions were called inside a couple of moments. 

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

Trader Security

To guarantee information trades are free from any danger, both the MT4 and MT5 stages follow industry-standard security necessities, including 128-bit Secure Sockets Layer (SSL) encryption.

BCS Forex Verdict

With long stretches of involvement, especially in the Russian market, BCS Forex has a cutthroat contribution for the two fledglings and specialists. The merchant offers a scope of records, two of the most mainstream stages, and a nice set-up of instruction assets. Our solitary concern is the problematic administrative status. To establish a more secure exchanging climate, we’d prefer to see a permit with one of the generally respected administrative organizations.

Accepted Countries

BCS Forex acknowledges dealers from Thailand, Canada, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most different nations. 

Dealers can not 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 are searching for options in contrast to BCS Forex, we have aggregated a rundown of the leading 5 merchants that are like BCS Forex beneath. This rundown of specialists like BCS Forex is arranged by similitude and incorporates organizations that acknowledge brokers from your area.

1. RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
2. LiteForex Investments – LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.
3. FXChoice – FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
4. FXOpen – FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
5. OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.

FAQ

What accounts does BCS Forex offer?

BCS Forex offers four distinctive record types: Global, NDD, Pro, and Direct. Influence cutoff points and least stores are something very similar across all records. The distinctions overwhelmingly lie in the instruments exchanged and demo account accessibility. The Pro and Direct records are the favoured alternatives for fledglings.

How do I open an account with BCS Forex?

To open an exchanging account, you should initially enlist for a Personal Account (PA) on the site. From inside the PA entryway, you can then choose which version you wish to open.

How much capital do I need to trade on BCS Forex?

The underlying store across all records is $1, making it available for new brokers. The base exchange size is 0.01 parts.

What leverage is available at BCS Forex?

Influence across all records goes from 1:10 to a limit of 1:200. See the dealer’s site for a breakdown of explicit influence rates across various forms.

Is BCS Forex regulated?

BCS Forex isn’t controlled or authorized by a significant administrative body. They are enrolled in Saint Vincent and the Grenadines.