BCS Markets Review 2024

Last updated Feb 24, 2024
Логотип BCS Markets
3.8/5
№46 in the brokers' listTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

BCS Markets was founded in 2006 as a division of BCS Broker for trading in the Forex and CFD markets.

In this review, we will discuss the pros and cons of the BCS Markets broker and examine trading tariffs, commissions, conditions, and customer reviews of the company.

BCS Markets Broker Overview

Foundation Year2006
Official Websitehttps://bcsmarkets.com
Regulated in CountriesSaint Vincent and the GrenadinesMore Details
Minimum Deposit
  • 1 USD
Spreadfrom 0.2 points
Max Leverage1:200
Trading Assets
  • Forex
  • Indices
  • Stocks
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 5
  • MetaTrader 4
  • Brokstock
Email Support
  • support@bcsmarkets.com
Hotline Phones
Social Media

Important: BCS Markets should not be confused with BCS Forex, although both companies are part of the BCS Financial Group (which also includes the stock broker BCS World of Investments). BCS Forex is one of the Forex brokers licensed by the Central Bank of the Russian Federation and has its trading conditions.

BCS Markets Review Summary

All our ratings are based on a carefully developed methodology. We strive to ensure objectivity and independence in evaluating each broker. Continue reading to learn more about BCS Markets.

Reliability and Regulation

Rating:3/5
Legal EntityRegulator

BCS Markets LLC is registered in Saint Vincent and the Grenadines, which is considered an offshore zone. Offshore regulators typically offer a less stringent regulatory framework compared to jurisdictions such as the United Kingdom (FCA), the United States (CFTC, NFA), Australia (ASIC), or European Union countries.

The SVGFSA does not provide the same level of protection as its counterparts from countries with developed financial markets. This includes the lack of any guarantee of compensation in the event of the broker's bankruptcy.

However, considering that the company is part of the BCS Financial Group, which has been on the market since 1995 and has a good reputation in Russia, it can be assumed that BCS Markets adheres to specific quality standards.

Account Opening

Rating:5/5

The account opening process at BCS Markets is simple: it requires filling out basic information and confirming registration via email. Verification, although it requires some documents, usually takes a little time. It is also convenient that the personal account area offers a variety of features, including account management, financial operations, and access to educational materials.

Registration

To open an account at BCS Markets on the official website, click "Join now".

Registration with BCS Markets
Registration with BCS Markets

To register, you need to fill out the following information:

  • First and last name;
  • Mobile number;
  • Email address;
BCS Markets registration form
BCS Markets registration form

To complete the registration, follow the link in the message sent to your email.

Verification

To open a trading account and start the verification process in the personal account area, click "Open account."

At the first step of verification, you need to specify your citizenship and consent to processing personal data.

Next, select the document type to confirm your identity (passport, international passport, or ID card) and upload it. This can also be done from a phone.

Confirm your registered address or place of residence. Upload one of the following documents:

  • a scanned copy or photo of the passport page with the registration mark;
  • a bank account statement;
  • a paid utility bill;
  • a paid bill for Internet/cable TV/home telephone service;
  • a tax declaration;
  • a tax account statement;
  • another document issued by a governmental organization.

After verification, you will receive a notification about the result of processing your account opening application. The verification process typically takes 3-5 minutes.

Client Portal

To log in to the client portal, use the address bcsauth.com.

In the BCS Markets client portal, you have access to:

  • management of trading accounts;
  • financial operations;
  • participation in company bonuses and promotions;
  • broker training and analytics;
  • connection of MQL5 signals;
  • web trading platforms;
  • company's partner section;
  • contacting support service through tickets.
Личный кабинет BCS Forex
Личный кабинет BCS Forex

Minimum Deposit

BCS Markets does not impose strict restrictions on the minimum deposit. However, for successful trading, it is essential to consider that the deposit size should be sufficient to cover the minimum margin for the position being opened.

Account Types

Rating:3/5

BCS Markets offers clients four types of trading accounts, which are sufficient to meet the needs of most traders. However, there are no such account variations as cent accounts, Islamic accounts, and investment accounts, which could expand the choice and offer additional opportunities for specific categories of traders.

Trading Accounts

The broker is ready to offer its clients four accounts to choose from. If you are unsure which to choose, the following characteristics will help you weigh all the decisions and come to the correct conclusion:

DirectNDDProMobile
Account CurrencyUSD, EUR, RUBUSD
Minimum Deposit1 $
Trading PlatformsMetaTrader 5MetaTrader 5MetaTrader 4MetaTrader 4Brokstock
Spreadfloatingfrom 0.7 pips~ 0.9 pipsfloatingfrom 0.2 pips~ 0.4 pipsfixedfrom 1 pipsfloatingfrom 0.7 pips~ 0.9 pips
Commission per Tradeper 1 lot3 $
Trading AssetsForexIndicesStocksPrecious MetalsEnergy CarriersAgricultural CommoditiesForexPrecious MetalsEnergy CarriersAgricultural CommoditiesForexIndicesStocksPrecious MetalsEnergy CarriersAgricultural Commodities
Opened Positionsup to 100up to 200up to 100
Leverage1:1-1:200
Margin Call / Stop Out100% / 20%100% / 50%100% / 20%
Order ExecutionMMSTPMM
Demo Account
Islamic Account
RegisterRegisterRegisterRegister

Demo Account

BCS Markets has a convenient demo account for beginners, which can be used to understand the system's operation and consider all the nuances.

To open it, you will need to take the following steps:

  1. Log in to your Account on the BCS Markets website.
  2. Go to the "Open New Account" tab on the main page and select the "Demo" section.
  3. Fill in the required fields, specifying the account type, currency, leverage size, and initial balance.
  4. Click the "Open Account" button.

After completing these steps, an email with a login and password will be sent to the email address provided during registration. These credentials should be used to log in to the MetaTrader trading platform.

Commissions

Rating:4/5

Trading commissions of BCS Markets are at an average market level, making them quite competitive. However, the inactivity fee may impact the overall rating, especially for investors who prefer long-term strategies or do not trade frequently.

Trading Commissions

BCS Markets' trading commissions include a transaction fee and costs associated with spreads and swaps.

Transaction Fee

The transaction fee on the NDD account is 3 US dollars per 1 lot, which is at an average market level. This ensures transparency and predictability of your trading costs.

Below is the commission per lot for the EURUSD pair at different Forex brokers:

BrokerIC MarketsRaw SpreadPepperstoneRazorBCS MarketsNDDVantageRawRoboforexECN
Commission per lot$3.5$3.5$3$3$2.16

Spreads and Swaps

BCS Markets offers tight spreads and above-average swaps.

AssetAverage spreadSwap longSwap short
AUDUSD2.2 pips-3.39 pips-1.54 pips
EURUSD0.9 pips-7.08 pips0.64 pips
GBPUSD1.3 pips-3.08 pips-1.54 pips
NZDUSD2.7 pips-5.08 pips-5.46 pips
USDCAD1.1 pips-3.99 pips-4.31 pips
USDCHF1.1 pips0.79 pips-9.24 pips
USDJPY1.1 pips0.50 pips-6.16 pips

Inactivity Fee

If a client's account has assets and no trading operations have been conducted for 6 months, BCS Markets can classify the account as inactive and charge a monthly maintenance fee. The amount of this fee is set in the Contract Specifications. The inactivity fee ceases to be charged when the balance reaches zero. The entire balance is deducted if the account balance is less than the inactivity fee.

Deposit and Withdrawal

Rating:3.5/5

BCS Markets provides a sufficient variety of methods for account funding, including bank transfers, payments through the Fast Payment System (FPS), and credit and debit cards, making the process convenient for most clients. The absence of deposit fees is a significant advantage. However, the lack of e-wallets and cryptocurrencies might be a drawback for some users.

Account Funding Methods

For depositing funds, one of the following options can be used:

Payment SystemCurrenciesDeposit FeeOperation Limit
Bank TransferBank Transfer
USDEURRUB
0%
Система быстрых платежей (СБП)Система быстрых платежей (СБП)
RUBUSDEUR
0%
Credit and Debit CardsCredit and Debit Cards
USDEURRUB
0%
from 10 to 650 USDfrom 10 to 500 EURfrom 500 to 50000 RUB
HUMOHUMO
UZS
0%
БКС БанкБКС Банк
USDEURRUB
0%

Bank transfer deposits take 2-3 business days, through BCS Online - 1-2 business days, and other methods - instantly.

Withdrawal Methods

As for withdrawing money, there are fewer methods and higher commissions than for depositing funds.

Payment SystemCurrenciesWithdrawal FeeOperation Limit
Bank TransferBank Transfer
USDEURRUB
0%
Credit and Debit CardsCredit and Debit Cards
USDEURRUB
2.5%
from 1050 RUB

Withdrawals take from 1 to 3 business days.

Markets and Products

Rating:3/5

BCS Markets offers access to several markets, including currency pairs, stocks, indices, metals, and energy commodities, but the total number of CFDs is small compared to other brokers. Also, the broker's assortment lacks CFDs on cryptocurrencies and soft commodities.

Which markets are available?

The following CFDs are available for trading on BCS Markets:

  • 37 currency pairs;
  • 59 US and Russian stocks;
  • 11 indices;
  • 4 energy resources;
  • 3 metals.

Trading Platforms

Rating:4.5/5

BCS Markets offers traders a wide selection of trading platforms, including the classic MT4 and MT5 and the proprietary BCS Trade mobile app. These platforms are available on various devices, including Android, iOS, and Windows, and provide a full set of necessary features for effective trading.

MetaTrader 4 and 5

MT4 and MT5 are already classic trading platforms for Forex. On BCS Markets, the platforms are available on:

  • Android;
  • iOS;
  • Windows.

If you do not wish to download a trading platform onto your device, you can always use the web terminal for MT4 or MT5 in your account.

MetaTrader 4 web platform in BCS Markets personal cabinet
MetaTrader 4 web platform in BCS Markets personal cabinet

BCS Trade

BCS Trade is a mobile trading application from BCS Markets. Within the app, you can:

  • trade Forex or CFDs;
  • monitor the markets;
  • compile portfolios of tradable assets;
  • keep up with the latest economic news.
BCS Trade mobile application
BCS Trade mobile application

You can download the application for free from the official broker's website for both Android and iOS.

Analytics

Rating:5/5

In the personal account of a BCS Markets user, there are free analytics from the broker's experts.

The BCS Markets analytical portal includes:

  • recommendations and forecasts for any trading instruments based on technical analysis;
  • market video reviews;
  • automatic trading signals, also based on technical analysis indicators;
  • economic calendar;
  • various Forex indicators and calculators for levels, correlations, and volatility;
  • heat map and currency converter;
  • chat with traders.
Analytical Center of BCS Forex
Analytical Center of BCS Forex

Education

Rating:4/5

BCS Markets offers various educational materials, including webinars and courses for beginners. This will help new traders understand the basic terms and trading strategies. However, materials for more advanced levels of education are not provided.

The Forex courses will assist you with the following:

  • understand the basic terms and concepts in forex;
  • master the MetaTrader 4 and MetaTrader 5 terminals;
  • learn to read price charts;
  • study candlestick and indicator analysis methods;
  • grasp technical analysis patterns.

The training is provided by the StudyTrade service and is available in the BCS Markets personal account.

Forex Training from StudyTrade
Forex Training from StudyTrade

Customer Support

Rating:4/5

BCS Markets offers several communication channels with support and provides sufficiently prompt and professional assistance. A minor downside - support working hours are not 24/7, which may cause inconvenience for traders from other time zones.

Support Schedule

Support operates from Monday to Friday from 9:00 to 18:00 Moscow time. You can contact them for all the details.

How to contact support?

  • Phone: 8 800 500 10 70
  • For international calls: +7 499 677 10 70
  • Email: support@bcsmarkets.com
  • Support service in WhatsApp and Telegram: +7 705 128 19 06, +7 705 463 52 59

BCS Markets Pros and Cons

Advantages

  1. Tight spreads, making trading more accessible.
  2. Commission-free account funding allows traders to save more funds.
  3. Accessible trading platforms, including MetaTrader 4 and 5, are convenient for most traders.
  4. Inclusion of quality analytics from experts.
  5. Educational materials to assist novice traders in learning how to trade.

Disadvantages

  1. Offshore regulation may raise concerns about the security of investments.
  2. Inactivity fees and high swap rates can lead to additional costs for clients.
  3. Limited number of deposit and withdrawal methods, which can create inconveniences for some users.
  4. A small range of trading products limits traders' choices.
  5. Non-24/7 technical support can lead to difficulties obtaining assistance outside of working hours.

Conclusion

BCS Markets is a broker that suits traders of all levels. The broker is a cost-effective solution for active traders thanks to tight spreads and low swaps. It offers beginners extensive educational materials and support for popular trading platforms. The broker also provides high-quality analytical tools for making informed trading decisions.

However, it should be noted that BCS Markets has offshore regulation, which may raise questions about the safety of funds. In addition, the limited number of deposit and withdrawal methods, the small range of available trading products, and the inactivity fee may create certain inconveniences for traders.

This broker is reliable for those ready to work within its specific features and conditions.

Visit BCS MarketsTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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