BCR Review 2024

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2.5 / 5
BCR is #108 in our CFD broker rankings.

BCR is a multi-regulated broker with 80+ instruments, loyalty bonuses, and various deposit options.

$300
MT4
CFDs, Forex, Stocks, Indices, Metals, Commodities
-
USD, EUR, GBP, AUD
Wire Transfer, Debit Card, Visa, Mastercard, Credit Card, UnionPay, Skrill, Neteller, PayPal

Forex Trading

Trade currencies with tight spreads and high leverage.

Stock Trading

Trade stocks from major markets, including the US and Hong Kong.

CFD Trading

Buy and sell leveraged CFDs on the MT4 platform and mobile app.

✓ Pros

  • MT4 integration
  • Strong regulatory oversight

✗ Cons

  • No copy trading

BCR is a CFD broker with over a decade in the online trading industry. The multi-regulated trading firm offers several asset classes, spreads from 0.0 pips, and leverage up to 1:400. But should you open an account with BCR? In this review, our experts unpack the pros and cons of investing with BCR, from forex trading fees to deposit and withdrawal options, customer support, and bonuses.

Company Details

BCR was established in 2009 and is regulated by the British Virgin Islands Financial Services Commission (BVIFSC) and the Australian Securities and Investments Commission (ASIC).

BCR offers 80+ financial instruments spanning stocks, forex and commodities with deep liquidity and fast executions. The broker’s customer support team is available 24/5 and new users can get started with 8+ deposit methods.

Trading Platform

MetaTrader 4 is the platform available to clients of BCR. The terminal is available as a free download or can be used as a web trader.

MT4 is the most popular retail trading platform, especially for forex trading. The success of MT4 can be attributed to the features, including Expert Advisors (EAs), which allow traders to program and use their own indicators and bots via MQL4.

Additionally, BCR traders get 30 in-built indicators, 3 execution modes, 3 charting styles, 9 timeframes, and a large online trading community.

BCR trading platform
MetaTrader 4

How To Place A Trade With BCR

  1. Open the broker’s MT4 platform
  2. From the ‘Tools’ menu, select ‘New Order’
  3. Input the data required when prompted, including the asset, pending or instant execution, order volume, and any stop-loss or take-profit levels
  4. Add any trade comments
  5. Place the order
  6. Monitor your profits in the bottom widget
BCR trading guide
How To Trade

Assets & Markets

BCR offers more than 80 trading instruments:

Unfortunately, cryptocurrency trading is not available.

Fees & Spreads

BCR offers floating spreads and commissions, which vary by instrument and account type.

Standard Account

The Standard Account is commission-free across most instruments, with the exception of the USD/CNH ($50) and shares ($20).

Spreads apply from 1.7 pips. While using BCR, we were offered a minimum spread of 2.4 pips on the EUR/GBP pair, 1.7 pips on the USD/JPY and 3.6 pips on the GBP/AUD.

Trading shares is expensive, with minimum spreads from 5 pips plus a $20 commission fee.

Clients are required to pay a swap charge for positions held overnight.

BCR trading spreads
Metal Spreads

Alpha Account

The Alpha Account offers tight, raw spreads from 0.0 pips.

The majority of instruments have a commission fee of $6 per round lot turn, though stock trading mirrors the conditions of the Standard profile with a $20 commission and spreads from 5 pips.

When we used BCR, we were offered a 0.6 pip spread on the EUR/GBP pair (+ $6 commission), 0.0 pips on the USD/JPY (+ $6 commission) and 1.6 pips on the GBP/AUD (+ $6 commission).

Leverage Review

The maximum leverage available is 1:400. With that said, leverage may be restricted depending on where you register an account in line with regulatory requirements.

For all shares, there is a 10% margin, and for spot indices, the margin ranges from 0.5% to 80%.

BCR Mobile App

Day traders can use the MT4 terminal through a mobile-compatible app.

The application provides access to the full suite of technical analysis tools and customizable charting options. Retail traders also benefit from account management functions such as deposits and withdrawals, entering and existing positions, and changing passwords. The broker’s live chat support is also integrated within the MT4 mobile platform.

There is no reason to fall behind with investing while away from a desktop computer.

BCR MetaTrader 4 platform
MetaTrader 4 Devices

Payment Methods

The payment methods available include bank wire transfers, Visa and Mastercard credit/debit cards, Union Pay, PayPal, Skrill, Neteller, and firm-to-firm transfers.

All deposits are instant, except for bank transfers, Union Pay, and firm-to-firm payments. These transfers can take between 1-2 business days while Union Pay transactions can take up to 30 minutes.

Withdrawals should be completed the same day if they are requested before 22:00 GMT. If requested after 22:00 GMT, on a weekend or a public holiday, withdrawals will be completed the following working day.

Deposits and withdrawals are fee-free at BCR.

How To Make A Payment

  1. Login to the BCR client portal
  2. Select ‘My Account’ in the menu along the right
  3. Click the ‘My Deposit’ icon
  4. Choose the deposit method
  5. Complete the details and follow the instructions
  6. Select ‘Deposit’

BCR Demo Account

Demo accounts are offered to new traders wanting to try the BCR brokerage service. Users get access to 80+ instruments and can trade with leverage up to 1:400.

To get started, sign up with a name, base currency, phone number, email address and account type. Login details will then be sent to the registered email address.

Paper trading accounts are funded with $50,000 in virtual funds.

Bonuses & Promotions

BCR regularly provides offers and promotions. The most recent deal lasted 60 days and consisted of a 10% credit bonus when depositing $2,000 or more.

The terms and conditions stated that a credit bonus was only permitted for withdrawal if the number of lots traded was equal to the credit bonus multiplied by 20%. The maximum credit bonus per client was $5,000 and the UAS200, GER40, EUSTX50, ESP35, FRA40, UK100, and all shares did not contribute towards wagering requirements.

A loyalty points system is also available to retail investors. For all trades executed, points are rewarded based on trade volume. These can be exchanged for products such as electronic gadgets.

Keep an eye on the BCR website for upcoming promotions.

Regulation & Licensing

BCR has been regulated by the Australian Securities and Investments Commission (ASIC) and the British Virgin Islands Financial Services Commission (BVIFSC) since 2008. The registration numbers are 328794 and SIBA/L/19/1122, respectively.

The ASIC is a top-tier financial authority, with stringent compliance measures such as negative balance protection and segregated client funds in tier-one banks.

Although good to see BVIFSC regulation of the global subsidiary, the financial body is not as highly regarded due to its relaxed minimum requirements for registered firms.

BCR also has a Complaints Handling Policy, Anti-Money Laundering Policy, and Order Execution Policy to provide a competitive trading environment for clients.

Additional Features

Education

BCR provides a basic education section on its website. The materials are provided for free and consist of brief descriptions of derivatives and margin trading, as well as a glossary with definitions of some popular trading phrases.

The broker also provides the latest market news and weekly market analysis from BCR’s experts.

Tools

The broker is evolving its client portal and dashboard to include new features and functions.

Currently day traders can access an indicator gallery, with step-by-step user guides and explanations. Indicators include Advanced MACD, Pivot Weekly and Yesterday H&L.

Traders can also view live trading statistics with an auto-analyst feature.

Account Types

BCR has three live accounts; Standard, Alpha, and Swap-Free.

All profiles offer leverage up to 1:400 and 80+ instruments. The broker accepts AUD, USD, GBP and EUR account currencies.

Benefits Of BCR

Our experts found several advantages to creating a BCR account:

Drawbacks Of BCR

Our testers also highlighted some disadvantages:

Trading Hours

Trading hours differ for forex, metals, commodities, indices, and shares.

For forex pairs, trading times are between 22:05-21:55 GMT.

The metals market is open between 23:01-21:45 GMT. For Natural Gas, Texas Crude Light, and Crude Oil, markets are open between 23:01 GMT and 21:00 GMT, and for UK Brent, markets are open between 01:01 GMT and 21:00 GMT.

Indices trading hours depend on local market opening times. For example, for all US indices, the market is open from 23:01 GMT to 21:00 GMT.

Trading hours are also available on the BCR website and any changes to market opening hours are published within the client portal.

Customer Support

The BCR broker customer service team can be contacted 24/5.

There is a live chat feature on the website, as well as email addresses and phone numbers.

Security & Safety

With the brand’s focus on reliability and transparency, users can be assured of a relatively secure trading environment.

Still, we always recommend implementing additional security measures, such as two-factor authentication for logins and withdrawal requests. This can help prevent unauthorized access to your personal account.

BCR Verdict

BCR offers an adequate suite of assets and 24/5 customer service. MT4 integration, relatively high leverage, and loyalty rewards will also appeal to many traders.

On the downside, commission fees are fairly high and some competitors offer a wider range of tools and educational materials, including copy trading.

FAQs

Can I Have Multiple Accounts With BCR?

No – you can only open one live account with BCR. Traders can, however, open a free demo account alongside a live trading profile.

Does BCR Accept International Clients?

Yes – BCR accepts clients from all over the world, including the UK, Australia, India, and Canada.

Is Trading With BCR Halal?

BCR offer a swap-free account whereby you can pay a blanket $15 commission per lot instead of paying interest. Traders can sign up for an Islamic-friendly trading account in a few minutes on the broker’s website.

What Is The Minimum Deposit To Trade With BCR?

The minimum deposit depends on the account type. For a Standard or Swap-Free account, the minimum deposit is $300. For an Alpha account, the minimum deposit is $500.

Top 3 Alternatives to BCR

Compare BCR with the top 3 similar brokers that accept traders from your location.

  1. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  3. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

BCR Comparison Table

Compare BCR With Similar Brokers
BCR AvaTrade IG Pepperstone
Rating 2.5 4.9 4.4 4.8
Markets CFDs, Forex, Stocks, Indices, Metals, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Account Yes Yes Yes Yes
Minimum Deposit $300 $0 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators ASIC, BVIFSC ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Bonus
Education No Yes Yes Yes
Platforms MT4 WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Leverage 1:400 1:30 (Retail) 1:400 (Pro) 1:30 (Retail), 1:250 (Pro) 1:30 (Retail), 1:500 (Pro)
Payment Methods 9 13 6 11
Visit Visit Visit Visit Visit
Review AvaTrade
Review
IG
Review
Pepperstone
Review

Compare Trading Instruments

Compare the markets and instruments offered by BCR and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare BCR Trading Instruments
BCR AvaTrade IG Pepperstone
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes Yes Yes
Silver Yes Yes Yes Yes
Corn No Yes No Yes
Crypto No Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes Yes
Bonds No Yes Yes No
Warrants No No Yes No
Spreadbetting No Yes Yes Yes
Volatility Index No Yes Yes Yes

BCR vs Other Brokers

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BCR is a multi-regulated broker with 80+ instruments, loyalty bonuses, and various deposit options.