VIP Treatment for Traders Holding Large Account Balances
Traders with at least $20,000 in their trading account balance, enjoy ‘improved trading conditions’. These include tighter fixed spreads, personal consultants providing free financial advice, bonus air miles for every trading operation as well as free technical analysis and trading recommendations.
BCS Account Types
A choice of 5 live trading account types is available at BCSForex plus a Demo account. The most straightforward account is the Direct.MT5 for binary option trading on a dedicated binary options platform. The remaining 4 accounts facilitate trading on either or both the MT4/MT5 trading platforms. We saw that BCS Forex suggests that customers match their trading needs with the conditions of each account, before making a choice of account. Notably all 5 trading accounts require deposits in EUR, RUB or USD.
BCS Demo Account
We were pleased to see that BCSForex encourages traders new to financial trading, to open a free Demo account. This allows clients to familiarise themselves with the trading platforms and carry out virtual trading, before risking real money. To open a Demo account is simple, requiring only an email address and password.
BCS Direct.MT5 Account
The Direct.MT5 account gives traders access to the BCS OptionTrader platform to trade binary options in 25 currency pairs, spot metals and indices. The execution times range from 1 minute and 4 hours. Customers need to deposit a minimum of 5 USD/EUR or 200 RUB to open this account and can expect investment yields up to 100%. We saw that traders using the binary options platform are guaranteed a return of 5%.
BCS Global Account
$1 is required to set up a Global account with 300+ underlying assets for trading CFDs, Forex and Crypto currencies on the MT5 platform. Importantly, a Demo version is not available within the Global account. The spread for the EUR/USD currency pair is from 1 pip and leverage is provided from 1:1 up to 1:200. With the Global account, trades are done by exchange execution at current market prices. Moreover, there is no stop orders or level limit on the Global account. The minimum lot is 0.01, with the maximum number of lots for a single order set at 100 and the maximum number of orders also at 100. Forex trades are not charged commissions. Notably, the level of margin call is 100% and the stop out limit is 35%.
BCS NDD Account
Customers can set up an NDD account with access to 41 Forex currency pairs by making a minimum deposit of $1. Traders can choose between the MT4 and MT5 trading platforms with market execution for their trades, decided on by the broker. We saw that customers with an NDD account can deal over the phone with brokers at BCS Forex. The spreads on Forex are fixed with EUR/USD at 0.2 pips and commission charged at the rate of 0.003 % on Forex trading. The minimum lot size is 0.01 and the maximum volume of lots for 1 order is 100. However, traders can place up to 200 orders at a time. The level of margin call is at 100% with a stop out limit of 50%. Importantly, there is no level limit or stop orders with the NDD account.
BCS Pro Account
To open the Pro account, customers need to deposit a minimum of $1. Traders can trade up to 135 underlying assets in Forex and CFDs with instant execution and carry out phone deals. Notably commission on Forex trades is 0% and spreads are fixed, with spreads for EUR/USD at 1 pip. Leverage for traders with the Pro account is available from 1:1 up to 1:200. Moreover, traders with the Pro account can give Level limit or Stop orders instructions from 6 points per order. The level of margin call is 100% and the stop out level is set at 20%. The minimum lot size with the Pro account is 0.01 with a maximum volume of 100 lots per order, and traders permitted up to 100 orders at one time.
BCS Direct Account
With a $1 deposit, traders can set up a Direct account to trade up to 135 financial assets in Forex, Crypto and CFDs on the MT5 platform with instant execution. The variable spreads on Forex currency pairs start from 0.7 pips and leverage up to 1:200 is made available. The level of margin call is 100% and the stop out level set at 20%. Stop orders or Level limit orders can be given from 6 points per order. As with all the trading accounts, the minimum lot is 0.01 and the maximum volume allowed in one order is 100 lots. The maximum number of orders at any one time is limited to 100. Notably, phone deals with BCS Forex brokers is accepted with the Direct account.
