According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- SVGFSA
- 2004
Our Evaluation of BCS Forex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
BCS Forex is a broker with higher-than-average risk and the TU Overall Score of 4.46 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BCS Forex clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The broker is for those who don’t trust foreign offshore platforms. Reliability of BCS-Forex is confirmed by a long-standing reputation of the BCS group of companies.
Brief Look at BCS Forex
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- The broker is a part of the BCS financial group, one of the largest companies in the stock and foreign exchange markets in Russia. The broker has physical offices and the license issued by the Federal Financial Markets Service.
- Best real-time quotes. Direct access to exchange liquidity.
- MT5 trading platform. Compared to MT4, the MT5 platform has a more advanced cloud-based strategy tester, market depth, several types of order execution and additional pending orders.
- No minimum deposit requirement.
- The broker is a tax agent. Withdrawals are automatically charged with personal income tax.
- only a resident of the Russian Federation can open an account.
BCS Forex Trading Conditions
| 💻 Trading platform: | MT4, MT5, Webtrader, Mobile platforms |
|---|---|
| 📊 Accounts: | GLOBAL, NDD, PRO, DIRECT |
| 💰 Account currency: | USD, EUR, RUB |
| 💵 Deposit / Withdrawal: | Bank Transfer, Credit/Debit Card, БКС Онлайн, Альфа-клик, Qiwi, Yandex |
| 🚀 Minimum deposit: | 1 USD |
| ⚖️ Leverage: | 1:200 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,5-1,2 pips |
| 🔧 Instruments: | Forex, Cryptocurrencies, Cfd |
| 💹 Margin Call / Stop Out: | GLOBAL- 100%/35%, NDD - 100%/50%, PRO - 100%/20%, DIRECT - 100%/20% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Mobile platforms |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Exchange Execution, Market Execution, Instant Execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | YES |
BCS Forex Key Parameters Evaluation
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Regulation and safety
BCS Forex has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 21 years
- Not tier-1 regulated
- Not regulated
BCS Forex Security Factors
| Foundation date | 2004 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
BCS Forex is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker BCS Forex have been analyzed and rated as Medium with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of BCS Forex with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, BCS Forex’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
BCS Forex Standard spreads
| BCS Forex | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,5 | 0,5 | 0,1 |
| EUR/USD max, pips | 1,2 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,3 | 0,4 | 0,1 |
| GPB/USD max, pips | 1,0 | 1,4 | 0,5 |
Does BCS Forex support RAW/ECN accounts?
As we discovered, BCS Forex does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with BCS Forex. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
BCS Forex Non-Trading Fees
| BCS Forex | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0-0,35 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
BCS Forex received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
BCS Forex offers limited payment options and accessibility, which may impact its competitiveness.
- No deposit fee
- Bank wire transfers available
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- USDT payments not accepted
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC not available as a base account currency
What are BCS Forex deposit and withdrawal options?
BCS Forex offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire. This limitation may restrict flexibility for users, making BCS Forex less competitive for those seeking diverse payment options.
BCS Forex Deposit and Withdrawal Methods vs Competitors
| BCS Forex | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are BCS Forex base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. BCS Forex supports the following base account currencies:
What are BCS Forex's minimum deposit and withdrawal amounts?
The minimum deposit on BCS Forex is $1, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact BCS Forex’s support team.
Markets and tradable assets
BCS Forex offers a limited selection of trading assets compared to the market average. The platform supports 120 assets in total, including 60 Forex pairs.
- Commodity futures are available
- Crypto trading
- Passive income with bonds
- No ETFs
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by BCS Forex with its competitors, making it easier for you to find the perfect fit.
| BCS Forex | Plus500 | Pepperstone | |
| Currency pairs | 60 | 60 | 90 |
| Total tradable assets | 120 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products BCS Forex offers for beginner traders and investors who prefer not to engage in active trading.
| BCS Forex | Plus500 | Pepperstone | |
| Bonds | Yes | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Contacts
| Foundation date | 2004 |
|---|---|
| Registration address | Suite 305, Griffith Corporate Centre, P.O. Box 1510, Kingstown, Saint-Vincent and Grenadines |
| Regulation |
SVGFSA
Licence number: 1245 |
| Official site | bcsmarkets.com |
| Contacts |
8-800-500-10-70
|
Comparison of BCS Forex with other Brokers
| BCS Forex | Bybit | Eightcap | XM Group | AMarkets | Kama Capital | |
| Trading platform |
No | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, AMarkets App | MetaTrader5 |
| Min deposit | No | No | $100 | $5 | $100 | No |
| Leverage | No |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:3000 |
From 1:1 to 1:400 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | No | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points |
| Level of margin call / stop out |
No | No / 50% | 80% / 50% | 100% / 50% | 50% / 20% | 20% / No |
| Order Execution | No | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | No | Yes |
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