BCS Forex provides online trading services on 500+ instruments across 5 markets, including Metals and Stocks. Leverage options of up to 1:200 are available for a minimum deposit of $1.
BCS Forex; Company Regulation and Information
BCS Markets, formerly known as BCS Forex, is a Russian brokerage company registered in St. Vincent and the Grenadines. However, itās not regulated by any financial authorities in Russia or SVG. Key features of BCS Forex:
- No regulatory license;
- Founded in 2006;
- Average execution time of 0.4 sec;
- 500+ trading instruments;
- Access to the Russian stock market.
BCS Forex Specifications
BCS broker operates as a part of the BCS Financial Group, a well-known financial company in Russia, founded in 1995 by Oleg Mikhasenko. Let's take a closer look at what BCS Markets brings to the table.
Broker | BCS Forex |
Account Types | NDD, Pro, Direct |
Regulating Authorities | None |
Based Currencies | USD, EUR, RUB |
Minimum Deposit | $1 |
Deposit Methods | Bank Transfers, Credit/Debit Cards |
Withdrawal Methods | Bank Transfers, Credit/Debit Cards |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:200 |
Investment Options | Stock Markets |
Trading Platforms & Apps | MT4, MT5, BrokStock |
Markets | Forex, Indices, Stocks, Metals, Energy |
Spread | From 0.2 points |
Commission | 0.003% For Forex on NDD accounts |
Orders Execution | Market, Instant |
Margin Call / Stop Out | Pro, Direct 100% / 20% NDD 100% / 50% |
Trading Features | Holiday Calendar, Market Analysis, Economic Calendar, Mobile Trading |
Affiliate Program | Yes |
Bonus & Promotions | Referral |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Phone, Email, Callback Request, Ticket |
Customer Support Hours | Monday through Friday from 9:00 to 18:00 Moscow time (GMT+3) |
BCS Forex Account Offerings
BCS caters to different trading styles and experience levels with its diverse account types, which offer different fee structures, execution types, and instruments.
Features | Direct | NDD | PRO |
Base Currency | USD, EUR, RUB | USD, EUR, RUB | USD, EUR, RUB |
Min Deposit | $1 | $1 | $1 |
Spread | Floating from 0.7 points | Floating from 0.2 points | Fixed from 1.0 point |
Forex Commission | $0 | 0.003% | $0 |
Max Leverage | 1:200 | 1:200 | 1:200 |
Min Order Size (lots) | 0.01 | 0.01 | 0.01 |
Margin Call | 100% | 100% | 100% |
Stop Out | 20% | 50% | 20% |
Execution Type | Instant | Market | Instant |
Instruments | 114 | 39 | 93 |
Account Opening and Verification on BCS Forex
Opening an account with BCS is a straightforward process. However, to open a live trading account, youāll need to provide proof of identity and proof of residence.
- Visit the brokerās website at āhttps://bcsmarkets.com/ā;
- Click āOpen an Accountā;
- Choose āCreate Accountā and enter your phone number;
- Provide the OTC sent by SMS;
- Login to your personal area (PA);
- Click āOpen new accountā and choose āTradingā;
- Select account settings, including type, leverage, and base currency;
- Fill out the personal and passport data forms;
- Upload proof of ID (Passport or driving license) and proof of address (utility bill or bank statement).
BCS Forex Trading Platforms
We must discuss the trading platform in this BCS Forex review. The broker offers 3 main solutions, from MetaTrader to BrokStock.
Note that platform availability differs based on the account type. While BrokStock is available on all accounts, MT4 is available on the NDD and PRO, and MT5 is accessible on the NDD and Direct accounts.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
BrokStock (Investing App)
- Android;
- iOS.
BCS Forex Broker Fee Structure
Understanding the fee structure is crucial for managing trading costs in BCS Markets. The broker offers zero-commission trading and average spreads from 0.2 points.
Account Type | EUR/USD Spreads | Commission for Forex | Commission for Metals | Commission for Stocks |
Direct | Floating from 0.7 points | $0 | $0 | 0.10% |
NDD | Floating from 0.2 points | 0.003% | 0.003% | - |
PRO | 1.0 point fixed | $0 | $0 | 0.10% |
BCS Forex Broker Supported Payment Methods
BCS provides a limited range of deposit/withdrawal options. It supports two main methods: Credit/Debit Card and Bank transactions.
Method | Deposit Fee | Withdrawal fee |
Bank Wire | 0% | 0.075% (a minimum of 15,000 AMD) |
Electronic Funds Transfer | 0% | 0% |
Bank Cards (VISA, MasterCard, AMEX) | 0% | 2.5% |
BCS Online | 0% | Not Available |
Internal Transfers Between Accounts | 0% | 0% |
Investment Plans and Copy Trading on BCS Forex
It's important to note that BCS does not offer investment plans or copy trading services. However, it enables you to invest in stock markets across the globe (Russia and other countries). You can buy and sell shares of the worldās largest companies on BCS Markets.
Does BCS Forex Offer Bonus and Promotion?
BCS does not offer any traditional promotions like deposit bonuses or welcome gifts. However, it has a comprehensive partnership program with the following key features.
- Up to 50% commission on each trade of the referred client;
- Earn profits even from one client;
- No maximum award limitations.
BCS Forex Customer Support
BCS Markets provides support from Monday to Friday from 9:00 to 18:00 Moscow time (GMT+3) through various channels, including:
support@bcsmarkets.com | |
Phone | +7 499 677 10 70 |
Callback Request | Available on the website |
Ticket | Through the personal area |
BCS Markets Trust Scores
User satisfaction may be the most important topic of the BCS Forex review. Despite having more than 15 years of experience in the markets, the company doesnāt have a profile on reputable review websites, such as TrustPilot and Forex Peace Army.
Lack of profiling on legitimate rating websites can be a drawback for potential clients since it shows the limited customer base of BCS.
Conclusion and Final Words
BCS Forex provides access to Russian stock market with a commission of 0.1% and floating / fixed spreads from 0.7 points. The company supports Visa, MasterCard, and AMEX payments with a 2.5% commission for withdrawals.
While BCS Forex broker offers its affiliates commissions of up to 50%, the lack of licensing from top-tier regulatory bodies and a TrustPilot profile may be drawbacks for some clients.
