BCS Forex Review 2021

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BCS Forex Facts & Figures

BCS Forex is a multi-asset trading broker offering the MT4 & MT5 platforms.

Bonus500 Tripcoins
InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit$1
Payment MethodsQIWI, Visa, Yandex Money
Min. Trade0.01 lots
Regulated ByIndependent
MetaTrader 4Yes
MetaTrader 5Yes
STP Account
ECN AccountNo
DMA AccountNo
Mobile AppsYes
Auto TradingYes
Social TradingYes
Copy TradingNo
Trade SignalsYes
Islamic AccountYes
Trade online CFDs with leverage up to 1:200.
FTSE Spread40
GBPUSD Spread1.3
Oil Spread8
Stocks SpreadFloating

Trade on 35+ FX pairs, including majors.

GBPUSD Spread1.3
EURUSD Spread0.9
EURGBP Spread0.9

Trade on Bitcoin USD.

Risk Warning – Your capital is at risk

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.


Users of BCS Forex benefit from:


Disadvantages of using this brand include:

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.

Alternatives to BCS Forex

If you are looking for alternatives to BCS Forex we have compiled a list of the top 5 brokers that are similar to BCS Forex below. This list of brokers like BCS Forex is in order of similarity and only includes companies that accept traders from your location.

  1. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  2. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  3. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
  4. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  5. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.


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.

BCS Forex is a multi-asset trading broker offering the MT4 & MT5 platforms.

BCS Forex vs Other Brokers

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