BCS Forex provides 3 different account types, NDD account, PRO account & Direct account. Demo account and Islamic account options are also available with a minimum deposit amount of $1 USD / R 16 ZAR, leverage up to 1:1-1:200 and spread from 0.2 of point
| 💠Feature | 📈 NDD Account | 📈 PRO Account | 📈 DIRECT Account |
| 💵 Minimum Deposit | $ 1 USD / R 16 ZAR | $ 1 USD / R 16 ZAR | $ 1 USD / R 16 ZAR |
| 📌 Trading Instruments | 39 (FOREX) | 115 (FOREX,CFD) | 148 (FOREX,CRYPTO,CFD) |
| 💰 Spreads | from 0.2 of point | 1 point (fixed) | from 0.7 of point |
| 📊 Leverage | 1:1-1:200 | 1:1-1:200 | 1:1-1:200 |
| 📌 Platforms | MetaTrader 4/5 | MetaTrader 4 | MetaTrader 5 |
Min Deposit
USD 1
Regulators
CySEC, FSA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BCS Forex Account types – 9 key points quick overview:
BCS Forex Overview- BCS Forex Account Types
- BCS Forex Account Features
- BCS Forex at a glance
- BCS Forex Demo Account
- BCS Forex Islamic Account
- BCS Forex Pros and Cons
- BCS Forex Conclusion
- Frequently Asked Questions
BCS Forex Overview
BCS Forex is a Russian forex broker that has been in operation since 2004. Its headquarters is in Minsk, Belarus, and offers investments, deposits, credit cards, forex, trading services, and more.
The broker is owned and operated by BCS Markets Limited. Its primary focus is on providing Russian traders with comprehensive and competitive trading conditions. Over 50 offices are located throughout Russia, and the broker has more than 140 000 registered traders.
BCS Forex offers its traders a variety of advantages such as trading on the powerful MetaTrader 4 and MetaTrader 5 platforms, various trading tools, three dynamic trading accounts to choose from, forex market access, liquid financial tools, and much more.
The live accounts that BCS Forex caters to the individual trading needs, objectives of the traders and supports high-frequency trading.
More advanced traders receive support through the provision of various research tools such as trading information, analytics, and more. The broker also caters for beginners through a range of books, webinars, and video lessons.
One drawback with BCS Forex is that it is not regulated by any regulatory authority. This means that there is no entity overseeing the trading operations of this broker.
One of the regulations is that brokers keep client funds in segregated accounts with top-tier banks. This means that only the clients can use the funds and it is not available to the broker.
In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.
There is no indication on BCS Forex’s website that the broker keeps the client’s funds in separate accounts than those of the broker.
Customers from Australia, Algeria, Angola, Afghanistan, Great Britain, DR Congo, Iraq, Iran, Yemen, Colombia, Cote d’Ivoire, Cuba, Liberia, Lebanon, Libya, Myanmar, Nigeria, Pakistan, North Korea, Syria, Somalia, Sudan, USA, Sierra Leone, Eritrea, and Japan are not accepted as clients.
BCS Forex Account Types
BCS Forex offers traders a choice between three live trading accounts namely NDD, Pro, and Direct. With the variety of Account types that BCS offers, traders will easy find an account type that will suit their needs.
BCS Forex Account Features
NDD Account
This account has the following features:
- Trading on MetaTrader 4 and MetaTrader 5
- USD, EUR, and RUB as a deposit currency.
- Minimum deposit of $ 1
- Spreads from 0.2 pips EUR/USD.
- Commissions of 0.003% charged on forex.
- Maximum leverage of 1: 200.
- Minimum lots of 0.01.
- Access to 39 forex pairs.
- Margin call of 100% and stop-out level of 50%
- Maximum volume of 100 lots per order
- No demo account
Pro Account
This account has the following features:
- Trading on MetaTrader 4
- USD, EUR, and RUB as a deposit currency
- Minimum deposit of $ 1
- Fixed spreads from 1 pip EUR/USD
- Zero-commission trading on forex
- Maximum leverage of 1:200
- Minimum lots of 0.01
- Access to 115 forex pairs and CFDs
- Margin call of 100% and stop-out level of 20%
- Maximum volume of 100 lots per order
- Demo account
Direct Account
This account has the following features:
- Trading on MetaTrader 5
- USD, EUR, and RUB as a deposit currency
- Minimum deposit of $ 1
- Spreads from 0.7 pips EUR/USD.
- Zero-commission trading on forex.
- Maximum leverage of 1:200.
- Minimum lots of 0.01.
- Access to 148 financial instruments including forex, crypto, and CFDs
- Margin call of 100% and stop-out level of 20%
- Maximum volume of 100 lots per order.
- Demo account
BCS Forex at a glance
| Broker's Name | BCS Forex |
| 🏛️ Headquartered | Cyprus |
| 📅 Year Founded | 2004 |
| ⚖️ Regulating Authorities | CySEC (№ 048/04) |
| ⏳ CySEC | № 048/04 |
| 🌐 Countries not accepted for trade | UK, Europe, and the USA not accepted |
| ☪️ Islamic account (swap-free) | Yes |
| 📎Sign up Bonus | No |
| 👍 Demo Account | Yes |
| 📌 Account types | NDD,PRO, Direct Account |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:200. |
| 📎 Fees | Applicable on selected accounts |
| 📎 Spreads | from 0.2 of point |
| 📎 Leverage | 1:1-1:200 |
| 💰 Minimum Deposit | $1 USD |
| 💳 Deposit Options | Debit and credit cards, including Visa and Mastercard PayPal Skrill Bank wire transfers. |
| 💳 Withdrawal Options | Debit and credit cards, including Visa and Mastercard, PayPal, Skrill, Bank wire transfers. |
| 💻 Platform Types | Meta Trader 4, Meta Trader 5 |
| 📱 OS Compatibility | Mac, Windows, Linux, Mobile, Web, iPhone, iPad |
| 📈 Tradable assets offered | Currencies, Indices, Stocks, Commodities and Cryptocurrency |
| 👨💼 Languages supported on Website | English and multiple languages |
| 👥 Customer Support Languages | English and multiple languages |
| 📆 Customer Service Hours | Customer support service is available from Monday to Friday from 9:00 am to 9:00 pm GMT+3. |
BCS Forex Demo Account
BCS Forex offers traders the option of opening a Demo Account on the Pro and Direct account types. Demo accounts are often utilized in several ways, including, but not limited to the following:
- It is seen as a practice account for beginner traders who wish to improve their trading skills and experience using virtual funds in a risk-free environment.
- More advanced traders who are evaluating and comparing brokers and who would like to explore the broker’s trading conditions in a risk-free environment.
- Beginner and expert traders who wish to test their trading strategies in a mimicked live trading environment without putting their capital at risk.
With BCS Forex it is hassle-free and fully digitalized to register and sign-up for a demo account. The demo account has the same features as the live account type.
BCS Forex Islamic Account
In addition to the three live account types, FCS Forex also offers Muslim traders who follow Sharia law the option of opening an Islamic Account.
Islamic Swap-free accounts are subjected to BCS Forex’s approval. Interested clients can log in to Fullerton Suite and submit a request.
An Islamic account caters specifically to Muslim traders who follow the Sharia law and are prevented through this law from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged by most brokers when traders hold positions open for longer after the trading day has concluded. The Islamic account allows exemption from such fees, should they hold positions open for longer.
Muslim traders are offered the option of an Islamic Account on the Pro and Direct account types. It is not clear whether such an account can be converted into an Islamic Account or if they need to apply directly to the broker to open such an account.
Not much information is available regarding the Islamic Account. Traders should ensure that, before they commit to registering a live trading account, they have all the information they need, especially with regards to the terms and conditions, additional fees, and other valuable information pertaining to the Islamic option.
BCS Forex Pros and Cons
| ✔️ Pros | ❌ Cons |
| Offers competitive and attractive trading conditions | No referral bonus offered |
| Offers a trading bonus and rewards for loyal customers | No welcome bonus, sign-up bonus or deposit bonus offered with first time sign up |
| Demo account sign-up fully digital | Only travel points offers on reward programme, no cash |
| MetaTrader 4 offered Offers competitive trading and conditions | Requires a high deposit to qualify for the rewards programmers |
| Demo account offered | Demo account usually expires after 30-days |
| Islamic accounts offered | Clients from various jurisdictions not accepted |
| MetaTrader 4 offered | Fixed spread accounts not offered |
| MetaTrader 5 offered | Limited number of trading instruments |
| No commission charged on two account types | Not regulated |
| Low commissions charged on one account type | Charge’s withdrawal fees |
| No deposit fees charged | Little choice of trading instruments |
| Offers competitive trading conditions | Spreads are not the tightest |
| Transparent fee schedule | |
Min Deposit
USD 1
Regulators
CySEC, FSA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
BCS Forex Conclusion
BCS Forex provides 3 different account types, NDD account, PRO account & Direct account. Demo account and Islamic account options are also available with a minimum deposit amount of $1 USD / R 16 ZAR, leverage up to 1:1-1:200 and spread from 0.2 of point
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Frequently Asked Questions
Trading environment
How many instruments can I trade with BCS Forex?
You can trade the following financial instruments:
- Forex
- Commodities
- Russian and foreign stock assets
Which platforms are supported by BCS Forex?
MetaTrader 4 and MetaTrader 5.
Does BCS Forex offer leverage?
Yes. Leverage of up to 1: 200.
What spreads can I expect with BCS Forex?
You can expect variable spreads which start from 0.2 pips on USD/EUR.
Does BCS Forex charge commission?
Yes. BCS Forex only charges commissions of 0.003% on the NDD account when trading forex.
Are there additional charges on the Islamic account?
Unsure. There is not much information available on the conditions of opening an Islamic Account on the website.
Is BCS Forex regulated?
No. BCS Forex is not regulated.
Is BCS Forex a recommended forex trading broker for experts and beginners?
Yes. Although the broker does cater for beginner and expert traders it is not recommended to trade with since it is not regulated, and your money will be at risk.
What is the overall rating out of 10 for BCS Forex?
3/10.
Accounts
What is the difference between a demo and live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does BCS Forex offer a demo account?
Yes. The broker does offer a demo account.
For how long is the demo account valid?
Although it is not clear on BCS Forex’s website a demo account is usually valid for 30-days.
Does BCS Forex offer the option of an Islamic Account?
Yes. BCS Forex offers the option of an Islamic Account for traders of the Muslim faith.
Which live trading accounts does BCS Forex offer?
BCS Forex offers three live account types, namely NDD Account, Pro Account and Direct Account.
What are the available deposit currencies for a live trading account?
- EUR
- USD
- RUB
Deposits and withdrawals
What is the minimum deposit for BCS Forex?
$ 1.
How do I make a deposit and withdrawal with BCS Forex?
- Visa
- MasterCard
- Qiwi
- Yandex Money
- Alfa-Click
- BCS Online
- Bank Wire transfer only in USD, EUR, or RUB
Does BCS Forex charge withdrawal fees?
Yes. Fees depend on the payment method used and applies as follows:
- Credit/Debit Cards – 2.5%
- Qiwi – 2.5%
- Yandex Money – 3.5%
- Bank Transfer in EUR – 40 EUR
- Bank Transfer in USD – 35 USD
How long does it take to make a withdrawal?
This will depend on the payment method used. Transfers through credit/debit card and digital wallets is processed within 24 hours. Bank transfer takes 2 to 5 business days. Transfer of funds from an account with BCS Bank takes up to 2 business days.
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