BCS Forex Review 2023

2.3 / 5
BCS Forex is #105 in our CFD broker rankings.

BCS Forex will serve active traders looking for loyalty bonuses and access to Russian stocks. It will also appeal to traders familiar with the MT4 and MT5 platforms.

- Daytrading Review Team

BCS Forex is a Russian forex and CFD broker registered offshore in St Vincent and the Grenadines. This unregulated broker offers low entry requirements and competitive trading conditions. It aims to provide high quality trading technology, reliable support and benefits for active traders.

MT4, MT5
Forex, CFDs, indices, shares, commodities, cryptocurrencies
500 Tripcoins
Visa, Yandex Money, QIWI
Forex Trading

Go long or short on a modest range of 35+ currency pairs with spreads from 0.2 pips in the NDD account. You can also try out the platforms, accounts and forex trading conditions in the broker's free demo account.

Stock Trading

A small range of over 40 Russian and US stocks are available. Traders can utilize the integrated signals service to identify stock trading opportunities to follow and copy. There is also a useful economic calendar to keep track of market events.

CFD Trading

Access CFDs across indices, commodities and more with no commissions and just a $1 minimum deposit. CFD traders can access leverage up to 1:200 in the advanced MT4 or MT5 platforms.

Crypto Trading

BCS Forex only offers the BTC/USD pair, which is limiting vs the best crypto brokers. Leverage of 1:2 is available, although crypto trading is only available in MT5.

✓ Pros

  • A choice of USD or EUR account types with a low $1 minimum deposit
  • Both MT4 or MT5 are available, plus integrated signals and copy trading capabilities
  • Loyalty program for active clients, with turnover bonuses, better trading conditions and travel points
  • Free and fast deposits in USD, EUR or RUB, including bank wire and credit cards

✗ Cons

  • Limited trading resources and outdated market analysis which trails the best brokers
  • Traders from the US, UK, Japan and other countries are not accepted
  • Narrow range of instruments compared to alternatives
  • A high $100 inactivity fee after six months
  • Only 1 cryptocurrency available
  • High withdrawal fees from 2.5%
  • Weak regulatory scrutiny

BCS Forex is an online broker offering over 420 tradeable instruments, including currencies, commodities, stocks, and indices. With a choice of two trusted trading platforms, as well as competitive spreads and leverage, read this review to find out if BCS Forex is right for you.

BCS Forex Company Overview

BCS-Forex Ltd was founded in 2004 and is registered under BCS Markets Ltd, in Saint Vincent and the Grenadines. Its partner company FG BCS Ltd is based in Nicosia, Cyprus.

With over 15 years of experience, the broker has expanded its FX services to include advanced trading platforms and comprehensive training to suit all levels of traders.

Trading Platforms

MetaTrader 4

MetaTrader 4 (MT4) is a downloadable platform suitable for both beginners and experienced traders. Features include:

BCS Forex trading platform
BCS Forex trading platform

MT4 can be downloaded from the Trading Platforms page on the broker’s website.

MetaTrader 5

MetaTrader 5 (MT5) offers all the same features as MT4 but with added technical features including:

MT5 can also be downloaded from the broker’s website.


BCS Forex offers multiple financial instruments:

Spreads & Commission

Spreads vary depending on the account type. With the Direct account, spreads start from 0.7 pips on major currency pairs, such as the EUR/USD. With the NDD and Global accounts, spreads start from 0.2 points and 1 point respectively. Note that spreads are fixed on the Pro account and start at 1 pip for the EUR/USD.

Spreads on major indices such as the US 500 start at around 8 points and average around 40 for the FTSE and DAX.

Other costs include a rollover or swap fee charged on positions held overnight, as well as a $100 monthly inactivity fee charged to accounts left dormant for six months.


BCS Forex offers fairly high leverage limits compared to competitors. The maximum leverage across all account types is 1:200. For specific assets, maximum leverage and minimum required margin levels vary as follows:

Mobile Apps

BCS Forex mobile app
BCS Forex mobile app

BCS Forex offers both the MetaTrader 4 and MetaTrader 5 platforms in a mobile app, which can be downloaded to any iOS or Android device.

The mobile app offers all the same features as the web platform but with the convenience of trading 24/7 anywhere on the go.

Mobile features include:

Payment Methods


BCS Forex offers several free deposit options, including bank transfers in EUR and USD, cards in USD, EUR, and RUB, e-wallets (QIWI and Yandex Monday) only in RUB, and internal transfer between accounts in USD, EUR or RUB.

Bank transfers take 2 to 3 working days, whilst e-wallet, card, and internal transfer options are instant. All methods are free, though there may be external fees for credit cards.


Withdrawals can be made using the same options as above, but commission rates will apply. For bank transfers in EUR and USD, the commission is €40 and $35 respectively. Card payments and e-wallets are charged at 2.5%, while for Qiwi Wallet and Yandex Money the rate is 3.5%. Internal transfers are free.

Processing times also vary. E-wallets and internal transfers are instant, card payments take 1 to 3 days, and bank transfers take 2 to 3 working days.

Note that internal transfers between accounts are only possible within one trading platform (MT4 or MT5), not between both.

Demo Account

BCS Forex offers a demo account where beginners can test and learn various trading strategies. A demo account can be opened once you sign up for a Personal Account on the website. Users are free to choose between MT4 or MT5 but will need to specify some parameters upon sign-up, such as leverage and currency.

Deals & Promotions

Active and wealthy clients on BCS Forex can earn Tripcoins to spend on travel privileges such as flights and hotels. However, users would need to hold a total balance of at least $20,000 to benefit from a 500 welcome Tripcoins bonus.

Note 1 Tripcoin = 1.5 cents.


BCS-Forex Limited is registered in Saint Vincent and the Grenadines and has an office in Cyprus. Despite this, the broker isn’t regulated by any of the well-known regulators, such as the FCA or CySEC. As a result, we’d recommend caution when opening an account, as you may not get the same degree of legal protection found at other providers.

Additional Features

BCS Forex offers several extra tools for traders, including:

Account Types

BCS Forex offers four account types, which all use either MT4 or MT5 and require an initial deposit of $1. Leverage limits remain the same across all four options at 1:200 and the minimum position size is 0.01 lots.

The main differences between the accounts are; the instruments traded, the spreads offered, the execution type, and additional features, such as demo account availability. The Pro and Direct accounts both offer demo accounts and would be the preferred choice for beginners.

Trading Hours

Trading hours vary depending on the market and account type. These are laid out on the Contract Specifications page.

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

Specific hours for stocks and other markets can be viewed on the broker’s website.

Customer Support

The BCS Forex customer support service is available Monday to Friday from 9:00 am to 9:00 pm GMT+3. There is no telephone number, however, they can be contacted via email at support@bcsmarkets.com or by using the call-back request form.

There is also an online chat service that can be accessed on the right-hand side of the webpage. Upon testing the service, responses were received within a few minutes.

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

Trader Security

To ensure data exchanges are safe and secure, both the MT4 and MT5 platforms comply with industry-standard security requirements, including 128-bit Secure Sockets Layer (SSL) encryption.

BCS Forex Verdict

With years of experience, particularly in the Russian market, BCS Forex has a competitive offering for both beginners and experts. The broker offers a range of accounts, two of the most popular platforms, and a decent suite of education resources. Our only concern is the questionable regulatory status. To create a safer trading environment, we’d like to see a license with one of the widely-regarded regulatory agencies.

Accepted Countries

BCS Forex accepts traders from Thailand, Canada, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most other countries.

Traders can not use 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.

Payment Methods

BCS Forex Details

Minimum Trade 0.01 Lots
Regulated By Independent
Islamic Account Yes
Mobile Apps Yes
Margin Trading No
Volatility Index No
Spot Trading No
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Yes
Social Trading Yes
Trade Signals Yes
Guaranteed Stop Loss No
  • Gold
  • Natural Gas

CFD Trading Details

FTSE Spread 40
GBPUSD Spread 1.3
Oil Spread 8
Stocks Spread Floating
Leverage 1:200

Forex Trading Details

GBPUSD Spread 1.3
EURUSD Spread 0.9
EURGBP Spread 0.9
Assets 36

Cryptocurrency Trading Details

Crypto Spread Floating
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
Crypto Coins
  • BTC

Top 3 Alternatives to BCS Forex

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

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex
  3. Kwakol Markets – Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of day trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
    Go to Kwakol Markets

BCS Forex Comparison Table

Compare BCS Forex With Similar Brokers
BCS Forex IG Group World Forex Kwakol Markets
Rating 2.3 4.4 4 4.5
Markets Forex, CFDs, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts CFDs, Forex, Stocks, Indices, Commodities, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $1 $0 $1 $1
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus 500 Tripcoins 100% Deposit Bonus
Education No Yes No No
Platforms MT4, MT5 MT4, AutoChartist, TradingCentral MT4, MT5 MT4, MT5, cTrader, AutoChartist
Leverage 1:200 1:30 (Retail), 1:250 (Pro) 1:1000 1:1000
Payment Methods 3 6 10 4
Visit Visit Visit Visit
Review IG Group
World Forex
Kwakol Markets

Compare Trading Instruments

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

Compare BCS Forex Trading Instruments
BCS Forex IG Group World Forex Kwakol Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No Yes
Silver No Yes Yes Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes No No
Options No Yes No No
ETFs No Yes No No
Bonds No Yes No No
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

BCS Forex vs Other Brokers

Compare BCS Forex with any other broker by selecting the other broker below.


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BCS Forex is a Russian forex and CFD broker registered offshore in St Vincent and the Grenadines. This unregulated broker offers low entry requirements and competitive trading conditions. It aims to provide high quality trading technology, reliable support and benefits for active traders.


What accounts does BCS Forex offer?

BCS Forex offers four different account types: Global, NDD, Pro, and Direct. Leverage limits and minimum deposits are the same across all accounts. The differences predominantly lie in the instruments traded and demo account availability. The Pro and Direct accounts are the preferred options for beginners.

How do I open an account with BCS Forex?

To open a trading account, you will need to first register for a Personal Account (PA) on the website. From within the PA portal, you will then be able to select which account you wish to open.

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

The initial deposit across all accounts is $1, making it accessible for new traders. The minimum trade size is 0.01 lots.

What leverage is available at BCS Forex?

Leverage across all accounts ranges from 1:10 to a maximum of 1:200. See the broker’s website for a breakdown of specific leverage rates across different accounts.

Is BCS Forex regulated?

BCS Forex is not regulated or licensed with a major regulatory body. Instead, they are registered in Saint Vincent and the Grenadines.