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BCS Broker Review

  1. Established in 2004, BCS Forex is the largest online broker in Russia. It offers access to popular trading platforms for Binary Options, Forex, CFDs and Crypto currencies. The company has built a solid reputation for ‘transparent and favourable conditions for trade’ with tight fixed spreads and instant withdrawals. Notably, customers can set up live trading accounts with a minimum $1 initial deposit, making BCS Forex, especially competitive in the industry. Whilst the BCS Forex website is in Russian, we found the English translation provided by the internet search engine to be of high quality, allowing customers to read and understand the entire website. Significantly, for trading purposes, BCS Forex provides access to the world’s favourite MT4 and MT5 trading platforms designed to operate in 22 international languages. Whilst BCS-Forex Ltd is an international company registered by the Registrar of International Business Companies in St Vincent and the Grenadines, it is not a licensed online broker.

  2. 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.

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    Between 74-89 % of retail investor accounts lose money when trading CFDs
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  5. Customers registered with BCS Forex have access to the state-of-the-art MetaTrader4 and MetaTrader5 trading platforms depending on the type of trading account. Both versions are available for free download to desktop computers and mobile trading apps are available free for Android and iOS powered mobile devices. Traders wishing to trade in Binary Options gain access to the user-friendly BCS OptionTrader platform which is a web-based platform. To trade Binary Options, customers must register a Direct.MT5 account.

    MetaTrader4 Trading Platform

    The MT4 is considered the most popular and comprehensive, Forex trading platform in the world. The straightforward set-up of the trading platform makes it easy for newcomers to begin Forex trading with confidence. Moreover, it facilitates advanced traders to execute complex trades using a massive range of analytical tools and the latest financial news. Significantly, the platform incorporates a Demo account where customers can practice virtual trading without financial risk. MT4 provides a flexible trading system with multiple settings and a vast range of analytical functions including interactive charts, 9 time frames and 30 technical indicators. Traders who don’t have the time or inclination to trade Forex by themselves can use free or paid signals to automatically copy deals made by other traders. Additionally, MT4 provides a market place with Expert Advisors that are trading robots, controlling trades on behalf of the customer.

    BCS MT4 Mobile Trading Platform

    The free apps for download to Android, iPhone and iPad mobile devices give Forex traders the most important benefits and advantages of the desktop platform. Notably, the MT4 trading apps can used anywhere on the globe 24 hours a day, giving access to all the trading functions, charts and technical indicators.

    MetaTrader5 Trading Platform

    The MT5 is the latest generation trading platform from MetaTrader, allowing advanced trading in multiple financial assets. The MT5 trading platform can be downloaded to the desktop or used as the MT5 ‘Web Platform’ through the browser of any PC or mobile device without software download. Unlike the MT4 which is a Forex trading platform, customers using the MT5 can trade in Forex, Stocks, Futures and CFDs. The platform has a large number of superior tools for analysing prices as well as Expert Advisors that are trading robots, and a copy trading function for totally automated trading. Significantly, the MT5 provides professional technical analysis, more than 80 technical indicators and allows traders to open 100 charts simultaneously. The fundamental analysis provided on the platform is especially useful to advanced traders who also tend to utilise the MQL5 programming language, creating their own technical indicators with personalised characteristics.

    MetaTrader5 Mobile Platform

    Traders who wish to trade on the MT5 platform on the move can download the free apps to Android or iOS powered mobile devices. As with the MT4 mobile apps, they function 24 hours a day anywhere in the world, making them very convenient for monitoring account status and viewing trading history.  The complete set of trading functions are supported by the MT5 mobile apps with a massive range of analytical capabilities.

    Education in Trading

    All traders irrespective of experience, gain free access to a diverse range of educational material and trading information on the website. Under three of the categories: Forex Trading, Investment and Analytics indicated on the dashboard, drop-down menus provide extensive information about becoming an investor, trading strategies, reviews from the experts as well as a trading calendar.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  7. To make enquiries about configuring and using the trading platforms as well as any BCS Forex products and services, customers can use the communication form on the contact page or call by phone. A free Moscow telephone number and an alternative number for clients located within Russia is available.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  9. Customers at BCS Forex are provided with a broad range of payment methods for funding their trading accounts with the broker claiming to facilitate instant deposits and withdrawals. Payment methods include bank wire transfer, Visa and Mastercard credit cards as well as the digital payment methods QIQI, Yandex and Online banking methods include BSC Online which is commission-free and The Alpha Clique.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option



    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk