Company DetailsTrading PlatformHow To Place A Trade With BCRAssets & MarketsFees & SpreadsStandard AccountAlpha AccountLeverage ReviewBCR Mobile AppPayment MethodsHow To Make A PaymentBCR Demo AccountBonuses & PromotionsRegulation & LicensingAdditional FeaturesEducationToolsAccount TypesBenefits Of BCRDrawbacks Of BCRTrading HoursCustomer SupportSecurity & SafetyBCR VerdictAccepted CountriesCompare BCRBCR Comparison TableCompare Trading InstrumentsBCR vs Other BrokersFAQCan I Have Multiple Accounts With BCR?Does BCR Accept International Clients?Is Trading With BCR Halal?What Is The Minimum Deposit To Trade With BCR?
BCR is a CFD broker with over a decade in the online trading industry. The multi-regulated trading firm offers several asset classes, spreads from 0.0 pips, and leverage up to 1:400. But should you open an account with BCR? In this review, our experts unpack the pros and cons of investing with BCR, from forex trading fees to deposit and withdrawal options, customer support, and bonuses.
Company Details
BCR was established in 2009 and is regulated by the British Virgin Islands Financial Services Commission (BVIFSC) and the Australian Securities and Investments Commission (ASIC).
BCR offers 80+ financial instruments spanning stocks, forex and commodities with deep liquidity and fast executions. The broker’s customer support team is available 24/5 and new users can get started with 8+ deposit methods.
Trading Platform
MetaTrader 4 is the platform available to clients of BCR. The terminal is available as a free download or can be used as a web trader.
MT4 is the most popular retail trading platform, especially for forex trading. The success of MT4 can be attributed to the features, including Expert Advisors (EAs), which allow traders to program and use their own indicators and bots via MQL4.
Additionally, BCR traders get 30 in-built indicators, 3 execution modes, 3 charting styles, 9 timeframes, and a large online trading community.
MetaTrader 4
How To Place A Trade With BCR
Open the broker’s MT4 platform
From the ‘Tools’ menu, select ‘New Order’
Input the data required when prompted, including the asset, pending or instant execution, order volume, and any stop-loss or take-profit levels
Add any trade comments
Place the order
Monitor your profits in the bottom widget
How To Trade
Assets & Markets
BCR offers more than 80 trading instruments:
37 forex pairs such as EUR/GBP, EUR/JPY, and AUD/GBP
30 shares including Apple, IBM and McDonald’s
12 stock indices such as JPN225 and UK100
4 commodities including crude oil
2 metals including gold
Unfortunately, cryptocurrency trading is not available.
Fees & Spreads
BCR offers floating spreads and commissions, which vary by instrument and account type.
Standard Account
The Standard Account is commission-free across most instruments, with the exception of the USD/CNH ($50) and shares ($20).
Spreads apply from 1.7 pips. While using BCR, we were offered a minimum spread of 2.4 pips on the EUR/GBP pair, 1.7 pips on the USD/JPY and 3.6 pips on the GBP/AUD.
Trading shares is expensive, with minimum spreads from 5 pips plus a $20 commission fee.
Clients are required to pay a swap charge for positions held overnight.
Metal Spreads
Alpha Account
The Alpha Account offers tight, raw spreads from 0.0 pips.
The majority of instruments have a commission fee of $6 per round lot turn, though stock trading mirrors the conditions of the Standard profile with a $20 commission and spreads from 5 pips.
When we used BCR, we were offered a 0.6 pip spread on the EUR/GBP pair (+ $6 commission), 0.0 pips on the USD/JPY (+ $6 commission) and 1.6 pips on the GBP/AUD (+ $6 commission).
Leverage Review
The maximum leverage available is 1:400. With that said, leverage may be restricted depending on where you register an account in line with regulatory requirements.
For all shares, there is a 10% margin, and for spot indices, the margin ranges from 0.5% to 80%.
BCR Mobile App
Day traders can use the MT4 terminal through a mobile-compatible app.
The application provides access to the full suite of technical analysis tools and customizable charting options. Retail traders also benefit from account management functions such as deposits and withdrawals, entering and existing positions, and changing passwords. The broker’s live chat support is also integrated within the MT4 mobile platform.
There is no reason to fall behind with investing while away from a desktop computer.
MetaTrader 4 Devices
Payment Methods
The payment methods available include bank wire transfers, Visa and Mastercard credit/debit cards, Union Pay, PayPal, Skrill, Neteller, and firm-to-firm transfers.
All deposits are instant, except for bank transfers, Union Pay, and firm-to-firm payments. These transfers can take between 1-2 business days while Union Pay transactions can take up to 30 minutes.
Withdrawals should be completed the same day if they are requested before 22:00 GMT. If requested after 22:00 GMT, on a weekend or a public holiday, withdrawals will be completed the following working day.
Deposits and withdrawals are fee-free at BCR.
How To Make A Payment
Login to the BCR client portal
Select ‘My Account’ in the menu along the right
Click the ‘My Deposit’ icon
Choose the deposit method
Complete the details and follow the instructions
Select ‘Deposit’
BCR Demo Account
Demo accounts are offered to new traders wanting to try the BCR brokerage service. Users get access to 80+ instruments and can trade with leverage up to 1:400.
To get started, sign up with a name, base currency, phone number, email address and account type. Login details will then be sent to the registered email address.
Paper trading accounts are funded with $50,000 in virtual funds.
Bonuses & Promotions
BCR regularly provides offers and promotions. The most recent deal lasted 60 days and consisted of a 10% credit bonus when depositing $2,000 or more.
The terms and conditions stated that a credit bonus was only permitted for withdrawal if the number of lots traded was equal to the credit bonus multiplied by 20%. The maximum credit bonus per client was $5,000 and the UAS200, GER40, EUSTX50, ESP35, FRA40, UK100, and all shares did not contribute towards wagering requirements.
A loyalty points system is also available to retail investors. For all trades executed, points are rewarded based on trade volume. These can be exchanged for products such as electronic gadgets.
Keep an eye on the BCR website for upcoming promotions.
Regulation & Licensing
BCR has been regulated by the Australian Securities and Investments Commission (ASIC) and the British Virgin Islands Financial Services Commission (BVIFSC) since 2008. The registration numbers are 328794 and SIBA/L/19/1122, respectively.
The ASIC is a top-tier financial authority, with stringent compliance measures such as negative balance protection and segregated client funds in tier-one banks.
Although good to see BVIFSC regulation of the global subsidiary, the financial body is not as highly regarded due to its relaxed minimum requirements for registered firms.
BCR also has a Complaints Handling Policy, Anti-Money Laundering Policy, and Order Execution Policy to provide a competitive trading environment for clients.
Additional Features
Education
BCR provides a basic education section on its website. The materials are provided for free and consist of brief descriptions of derivatives and margin trading, as well as a glossary with definitions of some popular trading phrases.
The broker also provides the latest market news and weekly market analysis from BCR’s experts.
Tools
The broker is evolving its client portal and dashboard to include new features and functions.
Currently day traders can access an indicator gallery, with step-by-step user guides and explanations. Indicators include Advanced MACD, Pivot Weekly and Yesterday H&L.
Traders can also view live trading statistics with an auto-analyst feature.
Account Types
BCR has three live accounts; Standard, Alpha, and Swap-Free.
All profiles offer leverage up to 1:400 and 80+ instruments. The broker accepts AUD, USD, GBP and EUR account currencies.
Standard Account – The most popular account is typically commission-free (except for shares) with spreads from 1.7 pips. There is also a lower minimum deposit requirement of $300 vs the Alpha profile and investors can trade a maximum of 10 lots per transaction.
Alpha Account – The Alpha Account offers spreads from 0 pips, however an average commission fee of 7 AUD, 6 USD, 5 GBP, or 6 EUR applies per round turn. There is a minimum deposit requirement of $500. Swap fees apply for positions held overnight. A maximum of 20 lots per transaction rule must also be followed.
Swap-Free Account – Swap-free accounts are available for those seeking a halal trading environment with no interest rates charged for overnight positions. Instead, there is a blanket $15 charge per lot. A minimum deposit of $300 applies.
Benefits Of BCR
Our experts found several advantages to creating a BCR account:
Energy trading
ASIC-regulated broker
MetaTrader 4 platform
Free and fast deposits
Joining bonuses and loyalty promotions
Multiple account types including swap-free profile
Drawbacks Of BCR
Our testers also highlighted some disadvantages:
No cryptocurrencies available
No proprietary mobile app or trading platform
Trading fees are quite high, for example, 20 USD commission for all shares
Trading Hours
Trading hours differ for forex, metals, commodities, indices, and shares.
For forex pairs, trading times are between 22:05-21:55 GMT.
The metals market is open between 23:01-21:45 GMT. For Natural Gas, Texas Crude Light, and Crude Oil, markets are open between 23:01 GMT and 21:00 GMT, and for UK Brent, markets are open between 01:01 GMT and 21:00 GMT.
Indices trading hours depend on local market opening times. For example, for all US indices, the market is open from 23:01 GMT to 21:00 GMT.
Trading hours are also available on the BCR website and any changes to market opening hours are published within the client portal.
Customer Support
The BCR broker customer service team can be contacted 24/5.
There is a live chat feature on the website, as well as email addresses and phone numbers.
Phone number: +44 3300010590
General Information: info@thebcr.com
Security & Safety
With the brand’s focus on reliability and transparency, users can be assured of a relatively secure trading environment.
Still, we always recommend implementing additional security measures, such as two-factor authentication for logins and withdrawal requests. This can help prevent unauthorized access to your personal account.
BCR Verdict
BCR offers an adequate suite of assets and 24/5 customer service. MT4 integration, relatively high leverage, and loyalty rewards will also appeal to many traders.
On the downside, commission fees are fairly high and some competitors offer a wider range of tools and educational materials, including copy trading.
Accepted Countries
BCR accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use BCR from Central African Republic, Congo DR, Guinea, Iraq, Lebanon, Mali, Somalia, Sudan, Yemen, Korea, Iran, Libya, Myanmar, Russian Federation, Ukraine, Syria, Zimbabwe.
Compare BCR
Compare BCR with similar brokers that accept traders from your location. Among available brokers these are the most similar to BCR:
FxPro – Multi-award winning trading broker. Specializing in forex but also offering stocks and tight spreads on CFDs and spread betting across a wide range of markets.
VT Markets – VT Markets is a multi-asset broker with ultra-fast trade executions, spreads from 0.0 pips, 24/5 support, and user-friendly trading platforms.
FXTM – FXTM is a top-rated forex and CFD broker. Offering 1000+ markets and three account types, they cater to all levels of trader.
FXCC – FXCC is a trustworthy trading broker regulated by the CySEC. The brokerage offers ECN trade executions, leverage up to 1:500 and $0 commissions.
BCR Comparison Table
| 2.5 | 3.9 | 4 | 4 | 4.5 |
| Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto |
| Yes | Yes | Yes | Yes | Yes |
| $300 | $100 | $200 | $50 | $0 |
| 0.01 Lots | 0.01 Lots | 0.01 lots | 0.01 lots | 0.01 lots |
| ASIC, BVIFSC | CySEC, FCA, FSCA, SCB | ASIC, FSCA, SVGFSA | CySEC, FCA, FSCA, FSC | CySEC |
| – | – | 50% Welcome Bonus | 30% up to $100 via Exinity Ltd | 100% First Deposit Bonus Up To $2000 |
| No | Yes | Yes | Yes | Yes |
| MT4 | MT4, MT5, cTrader | MT4, MT5 | MT4, MT5 | MT4 |
| 1:400 | 1:200 | 1:500 | 1:30 EU, 1:200 Global | 1:500 |
| 9 | 10 | 10 | 18 | 15 |
| – | BCR vs FxPro | BCR vs VT Markets | BCR vs FXTM | BCR vs FXCC |
| BCR Review |
FxPro Review |
VT Markets Review |
FXTM Review |
FXCC Review |
Compare Trading Instruments
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| No | No | Yes | No | No |
| Yes | Yes | Yes | Yes | Yes |
| No | No | No | No | No |
| No | Yes | No | No | Yes |
| No | Yes | No | No | No |
| No | No | No | No | No |
| No | No | Yes | No | No |
| No | No | Yes | No | No |
| No | No | No | No | No |
| No | Yes | No | No | No |
| No | No | Yes | No | No |
BCR vs Other Brokers
Compare BCR with any other broker by selecting the other broker below.
BCR vs Select Broker…10TradeFX12Trader4xCube5paisaA+ TraderAAAFxAAATradeAbsolute MarketsAccentForexAcornsActivTradesACY SecuritiesAdmiral MarketsAdroFXADS SecuritiesAETOSAGEAAlly InvestAlpariAlpha FXAlphoAlvexoAmana CapitalAMarketsAMP GlobalAngel BrokingAnzo CapitalArgusFXArum CapitalAskoBIDATC BrokersATFXAvantGardeFXAvaTradeAwesome MinerAxesAxiAxioryAxofaAxos BankAyondoAZAforexBakerySwapBalancerBambooBaxia MarketsBCS ForexBDSwissBettermentBinanceBinariumBinary.comBinaryCentBinomoBitfinexBithovenBitlocusBitMEXBitvalexBlackBull MarketsBlackwell GlobalBlockFiBlueberry MarketsBMFNBP PrimeBrokereoBulbrokersBUX XBUX ZeroBybitCapexCapital IndexCapital.comCelsiusCGS-CIMBCharles SchwabCiti Self InvestCity Credit CapitalCityIndexCIX MarketsCLMarketsCMC MarketsCMSTraderCMTradingCobra TradingCoinbaseCoinexxCoinmamaCoinTigerColmex ProCommSecCore SpreadsCorsa CapitalCPT MarketsCrescoFXCrypto.comCryptoboCryptoRocketDaniels TradingDarwinexDEGIRODeltaStockDeriv.comDIF BrokerDirectFXDMM FXDove OptionsDsdaqDukascopyE-TradeEagleFXEasy MarketsEFG HermesEightcapEllevestEmirates NBD SecuritiesEquitiErranteETFinanceeToroEuropeFXEuroTraderEverFXeXcentralExinityExnessExpert OptionEZ InvestFair ForexFairMarketsFBSFCMarketFIBO GroupFidelityFinancial SpreadsFinancikaFinexoFinotradeFinProsFinq.comFinspreadsFinvasiaFinveoFirstradeFlowBankFocus OptionFondexForex.comForex4youForexChiefForexMartForexTBForexVoxFortradeFP MarketsFrancis DrummondFreetradeFreshForexFTXFullerton MarketsFusion MarketsFutuFXCCFXCentrumFXChoiceFXCLFXCMFXDDFXFlatFXGiantsFxGloryFXGMFxGrowFxNetFxOnUsFXOpenFXPesaFXPIGFxPlayerFXPrimusFxProFXTMFXTrading.comFxviewGann MarketsGate.ioGC OptionGCIGemForexGeminiGenesisGKFXGlobal GTGlobal Market IndexGlobal PrimeGO MarketsGoFXGolden BrokersGolden Capital FXGoStreamsGrand CapitalHantec MarketsHiroseHodl HodlHotForexHouse Of BorseHQBrokerHugo’s WayHuobiHYCMIC MarketsICE FXICM BrokersICM CapitalIFC MarketsIFGMiFOREXIG GroupIIFLIMMFXInfinoxIngot BrokersInstaForexInteractive BrokersInterForexIntertraderInvest VoyagerInvestEngineIQ OptionIQCentIronFXITradeFXJ.P. Morgan ChaseJFD BankJP MarketsJuno MarketsJust2TradeJustMarketsKABKey To MarketsKhwezi TradeKLMFXKrakenKucoinKVB PrimeKwakol MarketsKyber NetworkLand FXLarson & HolzLBLVLCGLDCLegacyFXLH CryptoLibertexLidyaTradeLightspeed FinancialLiteFinanceLiteForex EuropeLivemarketsLMFXLocalBitcoinsLocalCoinSwapLocalCryptosLonghornFXLQDFXLunoM1 FinanceM4MarketsMarkets.comMega Trader FXMerrill EdgeMitradeMitto MarketsMoneta MarketsMoomooMTradingMultiBank FXN1CMNadexNagaNBH MarketsNexonextmarketsNiceHashNicoFXNinjaTraderNoble TradingNordFXNPBFXNSFXNuoOANDAOBR InvestOctaFXOKXOlymp TradeOpoForexOptimus FuturesOrbexOspreyFXOval XPancakeSwapPassfolioPaxForexPaxfulPepperstonePersonal CapitalPionexPlumPlus500Plynk InvestPocket OptionPrice MarketsPrimeXBTProfitiXProOption24PU PrimePublic.comPurple TradingQtradeQuestradeQuotexRaceOptionRemitanoRevolutRobinhoodRoboForexRoboMarketsRockfort MarketsS.A.M TradeSage FXSaxo BankScope MarketsSharekhanSheer MarketsSimpleFXSkillingSmart Prime FXSmartFXSoFi InvestSolidusXSpectre.aiSpeedTraderSpread CoSpreadexSquaredFinancialStakeStashStormGainStratton MarketsStreamsFXSuperForexSushiSwapSVK MarketsSwissquoteSwitch MarketsSwyftxSynergyFXTastyworksTD AmeritradeTeleTradeTempler FXTeraFXThinkMarketsTickmillTier1FXTiger BrokersTiger.TradeTIO MarketsTitanTixeeTMGMTMS BrokersTopFXTP Global FXTrade NationTrade Pro FuturesTrade RepublicTrade.comTrade12Trade360TradeFWTradeHawkTrader’s WayTradeStationTradeTimeTradeviewTradeZeroTradier BrokerageTrading 212TrioMarketsTriumph FXTusarFXUFXUnidexUOB Kay HianUpholdUpstoxUptosVALRValutradesVanguardVantageVarianseVault MarketsVideforexVT MarketsWahed InvestWazirXWealthfrontWealthsimpleWebullWeltradeWH SelfInvestWindsor BrokersWorld ForexXBTFXXE PrimeXGlobal MarketsXMXTBXTradeYadixZacks TradeZenfinexZero MarketsZerodhaZuluTrade
FAQ
Can I Have Multiple Accounts With BCR?
No – you can only open one live account with BCR. Traders can, however, open a free demo account alongside a live trading profile.
Does BCR Accept International Clients?
Yes – BCR accepts clients from all over the world, including the UK, Australia, India, and Canada.
Is Trading With BCR Halal?
BCR offer a swap-free account whereby you can pay a blanket $15 commission per lot instead of paying interest. Traders can sign up for an Islamic-friendly trading account in a few minutes on the broker’s website.
What Is The Minimum Deposit To Trade With BCR?
The minimum deposit depends on the account type. For a Standard or Swap-Free account, the minimum deposit is $300. For an Alpha account, the minimum deposit is $500.