BCS Markets Review
Read our concise, full review on the pros and cons of BCS Markets
Having previously worked with multiple CFD brokers in Cyprus, I maintain a strong commitment to staying current with industry trends. My analytical skills are pivotal in recommending tailored trading solutions that align with clients' specific needs and investor profiles.
I am the Director/Owner of Excel Markets Inc. (Regulated by the US National Futures Association)
I am an NFA Associate Member with a Series 3 and 34 license.
My background includes positions at various retail CFD brokers in Limassol (Cyprus) and Dubai, where I seamlessly integrate Private Wealth Management skills with a fervour for the financial markets. I specialize in crafting innovative solutions, engaging stakeholders, and guiding them towards optimal investment paths.
Data is continually updated by our staff and systems.
Last updated: 28 Nov 2024
We earn commissions from some affiliate partners at no extra cost to users (partners are listed on our ‘About Us’ page in the ‘Partners’ section). Despite these affiliations, our content remains unbiased and independent. We generate revenue through banner advertising and affiliate partnerships, which do not influence our impartial reviews or content integrity. Our editorial and marketing teams operate independently, ensuring the accuracy and objectivity of our financial insights.
Read more about us ⇾Pros
- Founded in 2006, indicating over a decade of experience in the market
- Segregates client funds from operating capital
- Offers both MetaTrader 4 and MetaTrader 5 platforms for desktop, mobile, and web
- Offers negative balance protection
Cons
- No regulatory oversight from top-tier regulators
- Low popularity rating among users
- Limited number of user reviews
- No cryptocurrency CFDs offered
We tested BCS Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
BCS Markets is a privately owned broker founded in 2006, operating for over a decade in the forex market. The broker segregates client funds from its operating capital adding a layer of security for investors.
Despite these positives, BCS Markets lacks regulation from top-tier financial authorities, being registered only in the Saint Vincent & The Grenadines isle, which is considered non-regulated. This might raise concerns for some traders looking for robust regulatory oversight.
User reviews and popularity ratings for BCS Markets are quite low. With no user reviews available and a popularity rating of 2.6 out of 5, it ranks 310 out of 835 forex brokers based on user ratings and 409 based on expert ratings.
The broker attracts an estimated 7,200 organic monthly visits, ranking 299 out of 827 for organic traffic, which indicates moderate interest from traders. While the broker has been in business for many years, potential clients should be aware of its lower popularity and lack of strong regulatory backing.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
|
BCS Markets LLC
Saint Vincent and the Grenadines |
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200 : 1 |
Deposit Insurance
BCS Markets does not support a deposit compensation scheme, which compensates investors if an authorized financial firm fails. Still, the broker segregates client funds from its operating capital, which means that client money is kept separate from the broker's own funds, enhancing the safety of client deposits.
Spreads and Costs
BCS Markets offers competitive spreads and costs when compared to other brokers. The average spreads for forex instruments are quite low, with an average of 0.41 pips, making it an attractive option for forex traders looking for cost-efficient trading.
When comparing across asset classes, BCS Markets tends to offer in-line or better-than-average costs.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| BCS Markets – Standard | - | 0.41 | - | - |
| HFM – Premium | 25.46 | 7.48 | 3.92 | 0.20 |
| IC Markets – Standard | 9.10 | 3.51 | 3.90 | 0.21 |
| XM – Standard | 39.03 | 4.95 | 5.44 | - |
| FxPro – Standard | - | 0.98 | 3.24 | - |
| Pepperstone – Standard | 12.39 | 2.10 | 2.43 | 0.13 |
| Axi – Pro | 13.62 | 2.73 | 1.55 | 0.22 |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BCS Markets – Standard | - | - | 0.15 | 0.20 | 0.50 | 0.20 | 0.80 | 0.60 | - | 8.39 | - | - |
| HFM – Premium | 39.13 | 3.61 | 1.78 | 2.51 | 3.95 | 2.13 | 3.81 | 2.99 | 1.41 | 6.00 | 0.32 | 0.04 |
| IC Markets – Standard | 15.06 | 3.01 | 0.90 | 1.12 | 2.02 | 1.43 | 2.31 | 1.58 | 1.70 | 0.89 | 0.18 | 0.03 |
| XM – Standard | 73.16 | 5.14 | 1.35 | 1.61 | 4.10 | 2.45 | 3.61 | 3.16 | 3.08 | 4.39 | - | - |
| FxPro – Standard | - | - | 1.36 | 1.62 | 3.50 | 1.55 | 3.78 | 3.49 | 4.10 | 2.43 | - | - |
| Pepperstone – Standard | 19.34 | 3.01 | 0.90 | 1.13 | 2.01 | 1.43 | 2.32 | 1.58 | 1.68 | 0.89 | 0.17 | 0.03 |
| Axi – Pro | 25.07 | 2.30 | 0.53 | 1.14 | 1.81 | 0.71 | 1.40 | 1.46 | 1.20 | 2.00 | 0.16 | 0.02 |
Swap Rates/Financing Fees
Swap rates, also known as financing fees, are charges or payouts that traders incur for holding positions overnight. Positive swap rates result in a payout to the trader, while negative swap rates incur a cost.
The swap rates for BCS Markets are not available, which makes it difficult to determine their competitiveness in this area. However, by comparing the average swap rates of industry-leading brokers, we can gauge the potential range of fees and payouts that traders might experience.
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| BCS Markets | - | - | - | - | - | - | - | - |
| HFM | - | -7.43 | -0.14 | -0.15 | -3.58 | 0.00 | 0.00 | -40.72 |
| IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| XM | - | -5.29 | -0.15 | -0.19 | -3.73 | 1.12 | 19.67 | -48.45 |
| FxPro | - | -4.03 | -0.14 | -0.15 | -3.33 | 1.02 | 19.15 | -40.75 |
| Pepperstone | - | -3.00 | -0.14 | -0.14 | -2.70 | 1.30 | 22.99 | -39.29 |
| Axi | Best | -1.57 | -0.04 | -0.13 | -2.65 | 1.40 | 20.00 | -28.00 |
Does BCS Markets Offer Islamic/Swap-free Accounts?
Islamic accounts, also known as swap-free accounts, are designed for traders who cannot earn or pay interest due to their religious beliefs. These accounts do not incur swap or rollover interest on overnight positions, adhering to Islamic principles.B
Other Fees
In addition to spreads, commissions, and swap rates, BCS Markets may charge other fees such as withdrawal fees, inactivity fees, and others. Below is a summary of these potential fees based on available information:
| Fee Type | Details |
|---|---|
| Withdrawal Fees | Varies depending on the withdrawal method |
| Inactivity Fees | May apply after a certain period of inactivity |
| Deposit Fees | Generally no deposit fees, but some methods may incur charges |
For the most accurate and up-to-date information on fees, traders should check the BCS Markets website or contact their customer support.
Comparison to other Brokers
BCS Markets, founded in 2006, has been in the forex industry for over a decade. Despite its longevity, the broker is not regulated by top-tier authorities, which may be a concern for some traders.
It offers competitive spreads, particularly in forex, with an average spread of 0.41 pips. However, its lack of regulation from high-tier financial authorities and low popularity among users are significant drawbacks.
Compared to industry-leading brokers such as IC Markets, HFM, XM, FxPro, Pepperstone, and Axi, BCS Markets falls short in terms of regulatory oversight and user reviews.
While it offers a reasonable range of instruments and platforms (MetaTrader 4 and MetaTrader 5), its low user rating and limited web traffic indicate a need for improvement in customer satisfaction and market presence.
Overall, BCS Markets may appeal to traders looking for competitive forex spreads and the reliability of a broker with over a decade of experience.
However, those prioritizing strong regulatory oversight and higher popularity ratings might find better options among the top-tier brokers mentioned above.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Desktop | Mobile | Web | Automated Trading |
|---|---|---|---|---|
| MetaTrader 4 | Yes | Yes | Yes | Yes, MQL4 (easy to learn) |
| MetaTrader 5 | Yes | Yes | Yes | Yes, MQL5 (easy to learn) |
BCS Markets offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are available for desktop, mobile, and web trading. Both platforms support automated trading through their respective programming languages, MQL4 for MT4 and MQL5 for MT5.
These languages are known for their ease of learning and robust features, making them popular choices for traders looking to implement automated trading strategies.
MT4 is renowned for its user-friendly interface, advanced charting tools, and a wide range of technical indicators. MT5 builds on the strengths of MT4, offering more timeframes, advanced order types, and an economic calendar.
Both platforms provide a seamless trading experience across different devices, allowing traders to stay connected to the markets at all times.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 40+ |
| Crypto CFD | - |
| Stock CFD | 100+ |
| Stock Index CFD | 9 |
| Commodities CFD | 7 |
| ETFs | - |
| Futures CFD | - |
BCS Markets offers a range of tradable instruments across various asset classes. Traders can access over 40 forex CFDs, 100+ stock CFDs, 9 stock index CFDs, and 7 commodities CFDs. While the broker does not offer cryptocurrency CFDs, it provides a solid selection of traditional asset classes for diversified trading.
Traders should note that BCS Markets primarily offers CFDs (Contracts for Difference), which are derivatives that allow traders to speculate on the price movements of underlying assets without owning them.
CFDs enable traders to use leverage, amplifying both potential gains and losses. While leverage can enhance trading opportunities, it also increases risk, making it essential for traders to manage their positions carefully.
Available Leverage
BCS Markets offers a maximum leverage of 200:1 for retail clients. This leverage level applies across various instruments, providing traders with the ability to amplify their trading positions.
It is important to understand that while leverage can increase potential profits, it also magnifies potential losses. Traders should use leverage judiciously and be aware of the risks involved.
Prohibited Countries
BCS Markets does not accept clients from several countries, including the United States, EEA, Japan, and other jurisdictions where local regulations prohibit forex trading or the broker does not have the necessary licenses.
Traders should check with BCS Markets directly or consult their website for the most up-to-date information on prohibited countries.
BCS Markets Account types
| Direct | NDD | Pro | |
| Maximum leverage | 200:1 | ||
| Mobile Platform | MT5 Mobile | MT4 Mobile, MT5 Mobile | MT4 Mobile |
| Trading platform | MT5 | MT4, MT5 | MT4 |
| Spread Type | Variable Spread | Fixed Spread | |
| Minimum Deposit | 1 | ||
| Minimum Trade Size | 0.01 | ||
| Trailing Stops | | ||
| Scalping Allowed | | ||
| Hedging Allowed | | ||
| Direct | |
| Maximum leverage | 200:1 |
| Trading platform | MT5 |
| Mobile platform | MT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 1 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| NDD | |
| Maximum leverage | 200:1 |
| Trading platform | MT4MT5 |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 1 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Pro | |
| Maximum leverage | 200:1 |
| Trading platform | MT4 |
| Mobile platform | MT4 Mobile |
| Spread type | Fixed Spread |
| Minimum deposit | 1 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
BCS Markets Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
bcsmarkets.com
|
| Organic monthly visits | 17,658 (100%) |
| Organic traffic rank | 299 out of 870 (Forex Brokers) |
| Paid monthly visits | 68 (0%) |
| Total monthly visits | 17,726 |
| Bounce rate | 59% |
| Pages per visit | 1.49 |
| Average visit duration | 00:06:33.9020000 |
BCS Markets Profile
| Company Name | BCS Markets LLC |
| Categories | Forex Brokers |
| Primary Category | Forex Brokers |
| Year Founded | 2006 |
| Account Currency | EUR, RUB, USD |
| Support Languages | English, Russian |
| Funding Methods | Bank Wire, Credit/Debit Card |
| Financial Instruments | Forex, Shares, Indices, Oil/Energies, Metals |
Accepts Japanese Clients
Social trading
Regulatory deposit insurance
Trailing stops
Fixed spread
Variable spread
BCS Markets User reviews
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
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We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
BCS Markets Regulation / Money Protection
0.0| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
|
BCS Markets LLC
Saint Vincent and the Grenadines |
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200 : 1 |
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