BCR Information

BCR, formed in 2008 and registered by ASIC in Australia, provides leveraged CFD trading on forex, equities, metals, commodities, and indices via popular platforms such as MT4, MT5, and MAM. It offers a variety of account types for both novices and advanced traders, including demo accounts, and no deposit or withdrawal fees. However, it currently makes no mention of offering Islamic (swap-free) accounts or cryptocurrency trading.

Pros and Cons

Is BCR Legit?

Yes, BCR is a regulated broker that works for BACERA CO PTY LTD, which is a licensed business. The Australia Securities & Investment Commission (ASIC) keeps an eye on it. It holds a Market Maker (MM) license with license number 000328794, effective since December 19, 2008.

What Can I Trade on BCR?

BCR gives you access to more than 300 financial products, including as 40+ forex currency pairs, global share CFDs, metals, commodities, and index CFDs. It gives both new and seasoned traders a flexible, leveraged trading environment across several asset types.

Account Type

BCR has four categories of live accounts: Standard, Elite, Alpha, and Affiliate. All of these accounts use the MetaTrader platform. There are demo accounts, however, there is no mention of Islamic (swap-free) accounts.

Leverage

BCR gives traders up to 400:1 leverage, which lets them control big bets with a modest deposit. High leverage can make profits bigger, but it can also make losses bigger.

BCR Fees

BCR's prices are affordable and in line with what other companies charge. They have tight spreads, fair commissions (on Alpha accounts), and no hidden fees for deposits or withdrawals.

Non-Trading Fees

Trading Platform

Deposit and Withdrawal

BCR does not charge any extra fees for deposits or withdrawals (though intermediary or international bank fees may apply). The minimum deposit at BCR is 300 USD.

Global Prime Review

Global Prime is a brokerage firm registered in Australia and regulated by the ASIC. With a history of 10-15 years, the broker offers a diverse range of trading instruments, including currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, and bonds.

There is no minimum deposit requirement, allowing flexibility for traders. The broker provides a maximum leverage of 1:100 and offers tight spreads to enhance trading conditions. Trading is facilitated through industry-standard platforms like MetaTrader 4 (MT4) and TradingView. Global Prime supports multiple deposit and withdrawal methods, including PayPal, Mastercard, Visa. There have been instances of fraud complaints exposure, which is something potential traders should consider.

Regulatory Status

Global Prime is currently regulated by the Australian Securities and Investments Commission (ASIC) and holds a Market Making (MM) type license with license number 385620.

Market Instruments

Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.

Spreads and Commissions

In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.

Account Types

Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.

Trading Platforms

When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.

Leverage

The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.

Deposit & Withdrawal

In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.

Educational Resources

A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.

Customer Support

Global Prime offers comprehensive customer support tailored to meet the needs of its diverse client base. Here are the key details regarding their customer service offerings:

• Languages Supported: English and Portuguese, accommodating a broad range of clients.
• Service Hours: Available 24 hours a day, 5 days a week, aligning with global forex market hours.
• Email Support: Clients can reach out for assistance via email at support@globalprime.com.
• Phone Support: For direct communication, clients can call +61 (2) 8379 3622.
• Physical Addresses:
• Australia: Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia.
• Vanuatu: Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu.
• Social Media Presence: Global Prime maintains an active presence on several social media platforms including Facebook, LinkedIn, YouTube, and Twitter.

FAQs

Is this broker well regulated?

Yes, it is currently effectively regulated by ASIC.

What trading instruments are available?

You can trade a variety of instruments including currency pairs, indices, commodities, metals, energy products, cryptocurrencies, stocks, and bonds.

What is the minimum initial deposit required to open an account?

There is no minimum deposit required to start trading.

What is the maximum leverage offered?

The maximum leverage offered is 1:100.