BCS Forex

Trading Platform

BCS Forex features not one, but two highly sophisticated and advanced trading platforms that are world renowned and loved by traders everywhere, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These two platforms accommodate the needs of all types of traders and experience levels and are basically the same. However, the MT5 trading platform is better and more suitable for trading a wide variety of financial assets, while the MT4 trading platform is better suited to trading primarily forex currency pairs. Both trading platforms feature a highly advanced charting package that comes complete with numerous built-in technical indicators, drawing and analysis tools, chart types, and time frames. As well, traders can trade directly from the charts with one-click trading for a fast and seamless trading experience. Another unique feature to the MetaTrader platforms is the ability to conduct automated trading thanks to the platforms unique MQL4 and MQL5 programming languages that allow for the implementation of Expert Advisors (EAs) that facilitate automated algorithmic trading. All in all, these two trading platforms are some of the best trading platforms a trader or investor can use for participating in the financial markets. Also, both the MT4 and MT5 trading platforms are fully optimized for use on the iOS and Android mobile devices and can be downloaded for free from the Apple App Store and the Google Play Store.

Exchange Markets

BCS Forex offers their clients access to the most liquid and lucrative financial markets that include tradeable instruments such as currencies, raw materials, and Russian and foreign stock assets. In total, traders can trade and invest in over 420 financial instruments. While this is a substantial number of assets, the primary asset class traded at BCS Forex is forex (foreign exchange market). Traders have access to numerous forex currency pairs including majors, minors and exotics. As well, the second most traded asset class at BCS Forex are stocks that include companies listed on various world class exchanges such as; the USA (NYSE/NASDAQ), USA (GLOBEX), Germany (FSE), France (EURONEXT), Japan (TSE), and Great Britain (LSE Int.) All in all, the extent of tradeable financial assets offered by BCS Forex is more than sufficient.

Fees and Commission

The fees and commissions imposed on traders at BCS Forex vary between tradeable assets and are dependent on the type of trading account the trader uses. Overall, the fees and commissions are very reasonable and even competitive with the industry standards. See below, a quick overview of the fees associated with the different trading accounts.

Global Account

• Low variable spreads from 1 pip
• Zero commissions

NDD Account

• Low variable spreads from 0.2 pips
• Forex commissions of 0.003%

Pro Account

• Low fixed spreads of 1 pip
• Zero commissions

Direct Account

• Low variable spreads from 0.7 pips
• Zero commissions

Security and Fairness

The BCS Forex online trading brokerage has been in operation since 2004, however, it hasn’t always been a smooth operation. BCS Forex was once based out of Estonia and claimed to be licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). However, this was not the case and the brokerage received a lot of complaints and trouble because of this, which led them to relocate to Saint Vincent and the Grenadines. To this day, BCS Forex remains to be licensed or regulated by any reputable regulatory authorities and therefore, we are very skeptical about the quality of their services.

Support

BCS Forex claims to be a viable online trading brokerage with a great deal of commitment to their customers success, but we don’t see how this statement could be true. Customer support representatives can only be reached via telephone 5 days a week from 9:00 to 21:00 GMT. We found it shocking that the brokerage does not even list a contact email. The brokerage does however, have a rather extensive FAQ page where their customers can refer to for most answers to their questions.

Conclusion

Overall, the BCS Forex trading brokerage is of questionable quality with a somewhat shady history. The brokerage does feature two highly sophisticate trading platforms, offers a wide array of tradeable products, and has low commissions and fees. However, the brokerages customer service is terrible, and we feel as though they cannot be trusted due to their past and for the fact that they are not licensed or regulated. All in all, we advise traders to proceed with extreme caution if trading and investing with this broker.

BCS Forex Q&A

The following are the common questions that customers inquired about BCS Forex.

Is BCS Forex regulated?

No, it is not regulated.

Is BCS Forex a scam?

Not sure, BCS Forex does have a questionable past.

Where is BCS Forex based?

BCS Forex is based in Saint Vincent and the Grenadines, but has no physical address listed.

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