BCR	Basic Information
Registered Country	Australia
Founded	2008
Regulation	ASIC, FSC (Offshore)
Tradable Assets	Forex, CFDs on metals, commodities, indices
Account Types	Standard, Advantage, Alpha, and Affiliate.
Demo Account	Yes
Islamic Account	Not specified
Maximum Leverage	400:1
Spreads	From 3.0 pips
Trading Platforms	MT4
Minimum Deposit	$300
Payment Methods	Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, USDT
Customer Support	24/5 online chat, contact form, phone: +44 3300010590, email: info@thebcr.com, social media

General information

BCR is an Australian forex broker that was established in 2008 under the company name BACERA CO PTY LTD. The broker is regulated by ASIC (Australian Securities and Investments Commission) and offshore regulated by FSC (Financial Services Commission), ensuring compliance with financial regulations and providing a level of trust and security for traders.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros	Cons
• Regulated by ASIC	• Limited Account Types
• Demo Account	• Wide Spreads
• Commission-free	• No 24/7 Support
• Advanced MT4 Trading Platform
• Various Market Research Tools

Pros:

• Regulation: BCR is regulated by ASIC (Australian Securities and Investments Commission), which provides a level of security and trustworthiness for traders.

• Demo Account: BCR provides a demo account, allowing traders to practice and test their trading strategies in a risk-free environment.

• Commission-free: BCR offers commission-free trading for all account types.

• Advanced Trading Platforms: BCR provides access to advanced MT4 trading platform, offering comprehensive charting tools, indicators, and automated trading capabilities.

• Market Research Tools: BCR offers various market research tools, including economic calendars and market live, to help traders stay informed and make well-informed trading decisions.

Cons:

• Limited Account Types: BCR only offers two account types, which could restrict options for traders with specific needs or preferences.

• Wide Spreads: BCR offers spreads from 3.0 pips, while the industry average spread is just 1.5 pips.

• Customer Support Availability: The availability of customer support might be limited outside of regular business hours, which could be inconvenient for traders in different time zones or those requiring immediate assistance.

Is BCR Legit or a Scam？

BCR operates within a well-regulated framework, authorized and regulated by respected financial authorities, including the Australian Securities and Investments Commission (ASIC, No. 328794) and offshore regulated by the Financial Services Commission (FSC, No. SIBA/L/19/1122) in the Virgin Islands.

This regulatory oversight ensures that BCR complies with stringent financial regulations, industry standards, and best practices. The ASIC and FSC play a crucial role in monitoring and supervising Doo Prime's operations, ensuring that the broker maintains transparency, ethical practices.

Additionally, BCR's practice of keeping segregated client funds means that client money is kept separate from the company's own funds. This can offer an additional layer of security for traders, since in the event of a company bankruptcy, these funds would not be treated as recoverable assets by general creditors of the company. This practice is common among regulated brokers as it provides more protection for traders' investments.

Market Instruments

Forex, CFDs on metals, commodities, indices... BCR allows clients to access 300+ trading markets. Therefore, both beginners and experienced traders can find what they want to trade on BCR.

This includes prominent global forex currency pairs, allowing for trading in the foreign exchange market.

They also offer CFDs on metals, which may include precious metals like gold and silver, as well as industrial metals.

In addition, traders can access CFDs on commodities, from energy sources like oil and gas to agricultural products.

This is extended to indices, tracking performance of groups of shares in a particular market or sector.

However, cryptocurrencies are currently unavailable.

This extensive offering enables traders to diversify their portfolios and engage in different markets based on their investment preferences and strategies.

Account Types

Apart from demo accopunts, BCR offers four live account types: Standard, Advantage, Alpha, and Affiliate. All account types provide leverage up to 400:1, a 50% stop-out level, micro-lot trading (0.01), and access to single stock CFDs, except for the Alpha account. The minimum deposit requirements range from $300 USD for the Standard and Advantage accounts to $3,000 USD for the Affiliate account. Spreads start from 1.2 pips for the Advantage account, with the Alpha account offering zero spreads. Additionally, the Advantage account charges a $3 USD commission per lot per side. The lot size per transaction is capped at 20 for all account types.

How to Open an Account？

Here are four specific steps to open an account with BCR:

Step 1: Visit the BCR official website: Go to the BCR website using a web browser on your computer or mobile device. Navigate to the account opening section: Look for the “Join Now” button on the website on the homepage.

Step 2: Fill out the account application form: Click on the account opening button/link, and you will be directed to an online form. Provide the requested information, including your full name, contact details (such as phone number and email address), and password.

Step 3: Submit identification documents: As part of the account verification process, BCR may require you to provide identification documents. These documents may include a copy of your passport or national ID card, proof of address (such as a utility bill or bank statement), and any other documents requested by the broker.

Step 4: Review and agree to the terms and conditions: Before finalizing your account creation, carefully read through the terms and conditions provided by BCR. Make sure you understand and agree to all the terms before proceeding. If you have any questions or concerns, you can contact their customer support for clarification.

Leverage

BCR provides traders with maximum levearge up to 400:1.

Leverage, in simple terms, is a tool that enables traders to control a larger position in the market with a smaller amount of capital. It can be a valuable tool for experienced traders who understand its risks and benefits. By using leverage, traders can potentially generate higher returns on their investments.

However, leverage is a double-edged sword. While it can enhance profits, it can also magnify losses. Traders should exercise caution and implement effective risk management strategies when utilizing leverage. It is crucial to have a thorough understanding of the market and the associated risks before engaging in leveraged trading.

Spreads & Commissions

BCR provides traders with a variety of options when it comes to spreads and commissions, catering to different trading needs and preferences. The Standard account offers a zero-commission trading environment, allowing traders to execute trades without incurring any additional charges. Spreads for the Standard account start from 8.0 pips.

For those seeking even tighter spreads, the Advantage account is available. With spreads starting from 3.0 pips and no commissions, this account offers enhanced trading conditions for traders looking to optimize their trading strategies and minimize their trading costs.

Spreads and commissions vary on the trading symbol, more details can be found in the screenshot below.

Trading Platforms

BCR provides traders with a versatile trading platform that encompasses the renowned MT4 (MetaTrader4) platform as well as a user-friendly webtrader. The MT4 platform is highly regarded in the industry for its robust features and comprehensive tools, empowering traders with advanced charting capabilities, technical indicators, and a wide range of order types to suit their trading strategies. With MT4, traders can analyze market trends, execute trades with precision, and effectively manage their positions.

Deposit & Withdrawal

BCR provides its customers with a variety of payment options, catering to different banking preferences. The options available for depositing and withdrawing funds include Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, and USDT. This selection gives traders a good deal of flexibility.

In terms of withdrawal request processing, BCR operates a specific schedule. The cut-off time for processing on the same day is 10:00 AM. Requests submitted before this time will be processed on the same day, whereas requests submitted afterwards will not be processed until the following business day.

Additionally, BCR does not charge any fees for deposits or withdrawals. However, transactions between international banks might incur fees such as intermediary fees.

Trading Tools & Education

BCR is dedicated to providing its clients with a comprehensive trading experience by offering valuable trading tools and educational resources.

Their economic calendar is a must-have tool for traders, allowing them to stay informed about important economic events that have the potential to impact the markets. Identifying these events can help with planning trading strategies.

Their glossary is an excellent educational resource, especially for beginner traders. It provides definitions for numerous terms used in trading, helping traders become familiar with industry jargon.

Additionally, BCR offers a 'Market Live' feature, which provides real-time updates about market conditions and trends.

These tools, combined with their educational resources, assist traders in making informed decisions and understanding the complexity of the markets, which ultimately contributes towards a more efficient trading experience.

Customer Support

Customer support through multiple channels, including phone, email, contact form and online chat. This multi-channel approach ensures that traders have various options to reach out for assistance or inquiries.

By offering phone support, BCR allows traders to have direct communication with their support team, enabling them to receive real-time assistance and resolve any urgent matters.

Email support provides traders with a written record of their communication, allowing them to articulate their queries or concerns in detail and receive responses at their convenience.

Additionally, BCR's online chat support enables traders to have quick and direct interactions with a support representative. This live chat feature allows for instant messaging and real-time responses.

Below are the details about customer service.

Language(s): English, Chinese, Vietnamese, Japanese, etc.

Service Time: 24/5

Live chat, Contact Form

Email: info@thebcr.com

Phone: +44 3300010590

Social Media: Facebook, Twitter, Instagram, LinkedIn

Address: BCR Co Pty Ltd, Trident Chambers, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands.

Frequently Asked Questions (FAQs)

Q 1:	Is BCR regulated well？
A 1:	Yes. It is regulated by ASIC and offshore regulated by FSC.

Q 2:	What assets can I trade with BCR？
A 2:	Forex and CFDs on metals, commodities, and indices.

Q 3:	Does BCR offer demo accounts？
A 3:	Yes.

Q 4:	Does BCR offer industry leading MT4 & MT5？
A 4:	Yes. It supports MT4.

Q 5:	What is the minimum deposit for BCR？
A 5:	$300.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Trade245 Review Summary of 10 Points
Founded	2020
Headquarters	South Africa
Regulation	No valid license
Market Instruments	FX pairs, indices, stocks and commodities CFDs
Demo Account	Available
Leverage	1:500
EUR/USD Spread	1 pip
Trading Platforms	MT4, MT5
Minimum deposit	$0
Customer Support	24/5 phone, email

What is Trade245？

Trade245 is a forex and CFD broker that offers trading services in forex, indices, commodities, and stocks. The broker is registered in South Africa. It offers the popular MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Trade245 claims to offer competitive spreads, fast execution, and various account types and educational resources for traders. It is said to be authorized and regulated by South Africa Financial Sector Conduct Authority (FSCA), but it seems to be a suspicious clone.

Pros & Cons

Trade245 offers several advantages such as a wide range of trading instruments, multiple account types, and user-friendly trading platforms. However, there are also several drawbacks, such as lack of regulation and transparency. Traders should carefully consider these factors before deciding to trade with Trade245.

Pros	Cons
• Offers a wide range of trading instruments	• Lack of regulation and transparency
• Provides multiple account types to choose from	• Negative reviews and complaints from some users
• No minimum deposit requirement	• Residents of the United States, Canada, Israel and the Islamic Republic of Iran are not accepted
• Offers MT4 and MT5 trading platforms
• Provides 24/5 customer support
• Offers competitive spreads and zero commissions

Note: It is important to conduct thorough research and due diligence before choosing a broker to trade with. The above table is just a summary of the pros and cons of Trade245 and should not be taken as a recommendation to trade with or against the broker.

Trade245 Alternative Brokers

There are many alternative brokers to Trade245 depending on the specific needs and preferences of the trader. Some popular options include:

• Forex.com - a globally trusted broker that is regulated in multiple jurisdictions and offers a user-friendly platform, competitive pricing, and a range of educational resources.

• FXTM - a popular broker that is regulated in multiple jurisdictions and offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with competitive pricing and excellent customer support.

• IC Markets - a well-regulated broker that offers a range of trading instruments, including forex, CFDs, and cryptocurrencies, with tight spreads and fast execution.

Is Trade245 Safe or Scam？

There is no definitive answer to whether Trade245 is safe or a scam, as opinions and experiences vary among traders. There are concerns about the authenticity of their FSCA license, and some negative reviews from users about difficulties with withdrawals. Therefore, it is essential for traders to do their due diligence and thoroughly research Trade245 or any other broker before investing their funds.

Market Instruments

Tradable financial instruments available on the Trade245 platform include FX pairs, indices, stocks and commodities CFDs and more. Many other brokers could even offer richer instruments, like metals, cryptos, options, etc.

Accounts

Trade245 offers six types of trading accounts that cater to the diverse needs of traders. These accounts include Bonus 100, No Bonus, Swap Free, Zero Spread, Cent, and VIX 75 accounts.

The Bonus 100 account offers a 100% deposit bonus, while the No Bonus account has no deposit bonus but offers lower trading costs. The Swap Free account is designed for traders who want to avoid paying overnight swap fees, while the Zero Spread account offers traders the lowest possible spreads. The Cent account is tailored for traders who want to trade in smaller amounts, and the VIX 75 account is specifically designed for trading the volatility index.

Notably, there is no minimum opening deposit requirement for any of these accounts, providing traders with greater flexibility.

It is important to note that the Swap Free and VIX 75 accounts are limited-time offers, so traders should take advantage of them while they are available.

VIX 75 accounts are available for the MT5 platform, while other left account types are available for MT4 platform.

Leverage

All account types offered by Trade245 have a maximum leverage of 1:500. This means that traders can potentially increase their profits or losses by up to 500 times their initial investment. However, it is important to note that high leverage also increases the risk of significant losses. Therefore, it is crucial for traders to use leverage responsibly and manage their risk effectively. Traders should also ensure that they understand the risks and implications of using high leverage before trading with Trade245 or any other broker.

Spreads & Commissions

Trade245 offers variable spreads which start from as low as 1 pip for some account types (except for Zero Spread accounts from 0 pips). The spreads may vary based on the trading instrument, account type, and market conditions. Trade245 does not charge any commission fees for its trades. Instead, it includes its costs within the spread. However, the Zero Spread account type may charge an unspecified commission fee.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commission
Trade245	1 pip	No
Forex.com	0.8 pips	No
FXTM	1.3 pips	No
IC Markets	0.1 pips	AUD $7 per lot

Note: The above data is based on the information available on the respective brokers' websites and is subject to change. Spreads and commissions may vary depending on the account type, trading platform, and market conditions.

Trading Platforms

Trade245 offers its clients the popular and widely used MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms. Both platforms are available for download on desktop, mobile, and tablet devices. These platforms provide a user-friendly interface, advanced charting tools, and a wide range of technical analysis indicators. MT4 and MT5 are well-known for their fast execution speeds, reliable order execution, and a range of trading tools to enhance the trading experience.

Additionally, the platforms support automated trading through expert advisors (EAs) and allow traders to customize their trading strategies using their preferred programming language.

Overall, Trade245 provides a comprehensive trading experience for both novice and experienced traders with the support of two of the most popular trading platforms in the industry.

See the trading platform comparison table below:

Broker	Trading Platform
Trade245	MetaTrader5, MetaTrader5
Forex.com	MetaTrader4, Web Trading
FXTM	MetaTrader4, MetaTrader5, FXTM Trader App
IC Markets	MetaTrader4, MetaTrader5, cTrader

Note: The table is based on the information available on the official websites of the brokers, and is subject to change.

Deposits & Withdrawals

Trade245 offers various deposit and withdrawal methods to its clients, including Visa, MasterCard, mPESA, ozow, Skrill and various cryptocurrencies. There is no minimum deposit requirement. There are no deposit fees charged by Trade245.

Withdrawals are said to be processed within hours, and there are no withdrawal fees charged by Trade245. However, clients should be aware that some payment providers may charge fees for their services.

Multiple Trading Currencies

ZAR, USD, GBP

Trade245 minimum deposit vs other brokers

	Trade245	Most other
Minimum Deposit	$0	$100

Fees

Trade245 charges fees for several services as follows:

• Overnight Financing Fees: Also known as swap fees, overnight financing fees are charged for holding positions open overnight. The fees are calculated based on the trading instrument being traded and the position size.

• Inactivity Fees: Trade245 charges an inactivity fee of $50 per month for accounts that have been inactive for 3 months or more.

• Deposit & Withdrawal Fees: Trade245 does not charge any fees for deposits and withdrawals. However, third-party fees may apply, depending on the method used.

It's worth noting that the fees charged by Trade245 may vary depending on the type of account opened and the trading platform used. It's important to read the terms and conditions carefully before opening an account with Trade245 to fully understand the fees charged.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
Trade245	No	No	$50/month after 3 months of inactivity
Forex.com	No	No	$15/month after 12 months of inactivity
FXTM	No	No	$5/month after 6 months of inactivity
IC Markets	No	No	$10/month after 2 years of inactivity

Customer Service

Trade245 offers 24/5 customer support through various channels including email and phone. Their website also has an FAQ section where clients can find answers to common questions. You can also follow them on some social networks such as Facebook and Instagram.

Education

Trade245 offers some educational resources to its clients, including a glossary of commonly used trading terms and articles on various topics related to trading. These resources are aimed at helping traders of all levels to gain a better understanding of the financial markets and improve their trading skills. Overall, Trade245's educational offerings are a valuable resource for traders who are looking to improve their trading performance and achieve their financial goals.

Conclusion

Overall, Trade245 appears to offer a competitive trading environment with a wide range of trading instruments, multiple account types, and popular trading platforms including MT4 and MT5. However, the fact that their FSCA license is a suspicious clone raises some concerns about the legitimacy of the broker. In addition, there are some negative reviews from users reporting difficulties with withdrawals, which is certainly a red flag. As with any broker, it is important to conduct thorough research and exercise caution before investing any funds.

Frequently Asked Questions (FAQs)

Q 1:	Is Trade245 regulated？
A 1:	No. It has been verified that their South Africa Financial Sector Conduct Authority - FSCA license is a suspicious clone.

Q 2:	At Trade245, are there any regional restrictions for traders？
A 2:	Yes. Trade245 does not provide services for the residents of certain countries, such as the United States, Canada, Israel and the Islamic Republic of Iran.

Q 3:	Does Trade245 offer demo accounts？
A 3:	Yes.

Q 4:	Does Trade245 offer industry-standard MT4 & MT5？
A 4:	Yes. Trade245 supports MT4 and MT5.

Q 5:	What is the minimum deposit for Trade245？
A 5:	There is no minimum initial deposit requirement.

Q 6:	Is Trade245 a good broker for beginners？
A 6:	No. Trade245 is not a good choice for beginners. Though it offers demo MT4 and MT5 accounts, never forget their FSCA license is a suspicious clone.