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CMCMarkets , BCR Broker Comparison

Do you want to know which is the better broker between CMCMarkets and BCR ?

In the table below, you can compare the features of CMCMarkets , BCR side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
CMCMarkets
7.8
Regulated
Under guarantee
Above 20 years
FCA,FCA,FMA,BaFin,AMF,CIRO,MAS,ASIC,BaFin
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
Next Generation
Forex, stocks, stock indexes, commodities, bonds, CFDs
no minimum deposit requirement
500:1
Currency pairs 0.7 pips, gold0.3 US dollars, crude oil 0.03 US dollars
0.00
floating
0.01 lot
--
BCR
8.62
Regulated
Under guarantee
15-20 years
ASIC,FSC
--
AA
B
582.5
141
141
147
1900
1900
1847
AA

EURUSD: -0.5

XAUUSD: 0.1

10
-1
14
AAA
9.76 USD/Lot
11.6 USD/Lot
A

Long: -5.22

Short: 0.74

Long: -32.4

Short: 16.2

A
0.9
21.6
ALPHA ,STANDARD ,SWAP-FREE
--
$500
1:400
0.0+
0.00
--
--
--

CMCMarkets 、 BCR BrokersRelevant information

CMCMarkets 、 BCR BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of cmc-markets, bcr lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

cmc-markets
Registered in Australia
Regulated by FCA, FMA, MAS, IIROC
Year(s) of establishment Above 20 years
Trading instruments forex, indices, commodities, cryptos and stocks, treasuries, ETFs
Minimum Initial Deposit $0
Demo account Yes
Maximum Leverage Information not available
Minimum spread 0.7 pips onwards for EURUSD
Trading platform MT4 and its own platform CMC Markets Invest.
Deposit and withdrawal method POLi, PayPal, credit and debit card, plus bank transfers. No cash or cheque.
Customer Service 24/5, phone number, address, live chat, social medias
Fraud Complaints Exposure No for now

It is important to 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.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of CMCMarkets

Pros of CMCMarkets:

  • Regulatory Compliance: Being registered in Australia and regulated by reputable authorities like FCA, FMA, MAS, and IIROC, CMCMarkets provides a sense of trust and security for traders.

  • Wide Range of Trading Instruments: With access to forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs, CMCMarkets offers a diverse portfolio for traders to choose from.

  • Flexible Account Options: CMCMarkets provides a variety of account types, including standard and alpha accounts, catering to different trading preferences and experience levels.

  • Free Demo Account: The availability of a free demo account allows traders to practice and familiarize themselves with the platform before risking real money.

  • Multiple Trading Platforms: CMCMarkets supports the widely used MT4 platform, known for its advanced features, as well as their proprietary platform CMC Markets Invest, offering versatility for traders.

  • Educational Resources: The company offers a comprehensive range of educational resources such as video tutorials, glossary, webinars, eBooks, podcasts, and news analysis to help traders enhance their knowledge and skills.

  • Customer Support: CMCMarkets provides 24/5 customer support through various channels, including phone, live chat, and social media platforms, ensuring prompt assistance and resolving queries effectively.

Cons of CMCMarkets:

  • Maximum Leverage Unknown: The lack of information regarding the maximum leverage offered by CMCMarkets can be a limitation for traders who rely on leverage as a trading strategy.

  • Limited Information on Spreads and Commissions: The absence of detailed information about spreads and commissions may make it challenging for traders to accurately assess the cost of trading on the platform.

  • Dormancy Fee: CMCMarkets charges a dormancy fee if there is no trading activity for 12 months, which may pose an additional cost for inactive accounts.

  • Merchant Fees for Deposits: Deposits made via credit or debit cards attract merchant fees, which can add to the overall transaction costs for traders.

  • Withdrawal Restrictions: The limitation on withdrawing funds only up to the initial deposit amount on the registered card may restrict traders' flexibility in managing their funds.

  • Limited Availability of Information on Leverage, Deposits, and Withdrawals: The provided information lacks specific details regarding leverage options, minimum deposit requirements, and withdrawal processing times, which may require traders to seek additional clarification.

What type of broker is CMCMarkets?

Advantages Disadvantages
CMCMarkets offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, CMCMarkets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

CMCMarkets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, CMCMarkets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that CMCMarkets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with CMCMarkets or any other MM broker.

General information and regulation of CMCMarkets

CMCMarkets is an established brokerage firm registered in Australia and regulated by FCA, FMA, MAS, and IIROC. With over 20 years of experience, they offer a wide range of trading instruments including forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs. Traders can access their services through the popular MT4 platform as well as CMC Markets Invest. CMCMarkets provides a flexible account structure with no minimum initial deposit requirement and offers a free demo account for practice trading. They have a strong customer support system, available 24/5, and provide various educational resources to assist traders in their financial journey.

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

General information

Market instruments

CMC Markets provides a diverse range of trading instruments to cater to the needs of different traders. With CFD trading, users have the flexibility to go long or short on a variety of assets including forex, indices, commodities, and cryptocurrencies. This allows traders to profit from both rising and falling markets, maximizing their trading opportunities. In addition, CMC Markets offers share investing, enabling users to buy and sell shares and securities across 16 markets. This allows for a comprehensive portfolio diversification and investment in different sectors and industries. Furthermore, CMC Markets provides access to treasuries and ETFs, allowing traders to trade and invest in these financial instruments.

 trading instruments

Spreads and commissions for trading with CMCMarkets

Advantages Disadvantages
Competitive spreads for major currency pairs. Spreads are indicative and may vary in volatile market conditions.
Transparent commission structure for specific instruments. Commissions apply to certain markets, which may increase trading costs.
Clear information on minimum commission charges. Dormancy fee charged for accounts with no trading activity for 12 months.
Dormancy fee based on account currency, providing clarity for users. Dormancy fee may be considered a disadvantage for inactive traders.
Wide range of country-specific commission charges. Commissions vary depending on the country/market, potentially impacting trading costs.

CMC Markets offers competitive spreads for major currency pairs, with a live spread form indicating indicative prices. However, it's important to note that spreads may vary, especially during volatile market conditions. The company adopts a transparent commission structure, with commissions varying depending on the specific instruments traded. Traders can refer to the provided information to determine the commission charges applicable to their trades. It is worth mentioning that commissions are subject to minimum charge requirements, such as the minimum commission charge of US$10 for US shares. Additionally, CMC Markets implements a dormancy fee for accounts with no trading activity for 12 consecutive months, based on the account currency. While this fee promotes account activity, traders who remain inactive may incur additional costs. Traders should carefully consider these factors and evaluate their trading strategies to effectively manage spreads, commissions, and other associated costs.

Account currency Monthly inactivity fee
AUD 15
USD 15
HKD 100
Country/market Commission charge Minimum commission charge
Australia 0.09% AUD 7.00
UK 0.08% GBP 9.00
US 2 cents per unit USD 10.00
Austria 0.08% EUR 9.00
Belgium 0.10% EUR 9.00
Denmark 0.08% DKK 90.00
Finland 0.08% EUR 9.00
France 0.06% EUR 5.00
competitive spreads

Trading accounts available in CMCMarkets

Advantages Disadvantages
Two live account options: Standard and Alpha. Different account types may have varying features and requirements.
Standard account offers zero brokerage fee for the first buy order up to $1,000. Alpha account may have higher brokerage fees for certain buy and sell orders.
Alpha account provides lower brokerage fees for most buy and sell orders. Alpha account may have specific eligibility criteria or minimum balance requirements.
Flexibility to choose an account type based on individual trading preferences. Different account types may have different access to certain features or trading tools.
Demo account available, allowing users to practice and familiarize themselves with the platform. Account types may have specific terms and conditions, which traders should review before choosing.

CMC Markets offers two live account types, Standard and Alpha, providing traders with options that suit their individual needs. The Standard account offers a unique advantage by providing zero brokerage fee for the first buy order up to $1,000. This feature allows traders to make their initial investment without incurring any brokerage costs. On the other hand, the Alpha account offers lower brokerage fees for most buy and sell orders, providing cost-saving opportunities for active traders. It is important to note that different account types may have specific eligibility criteria or minimum balance requirements, and traders should consider these factors when choosing an account type. Additionally, CMC Markets provides a free demo account, enabling traders to practice and familiarize themselves with the platform before opening a live account. Traders have the flexibility to select the account type that aligns with their trading preferences, taking advantage of the benefits offered by each option. It's recommended to review the terms and conditions associated with each account type to ensure a comprehensive understanding of the features, costs, and available support.

live account types

Trading platform(s) that CMCMarkets offers

Advantages Disadvantages
MT4 platform widely recognized and popular. CMC Markets Invest may have a learning curve.
Access to a wide range of technical indicators and automated trading tools. Limited features compared to CMC Markets Invest.
CMC Markets Invest offers a proprietary platform. Smaller community and fewer third-party plugins compared to MT4.
Seamless integration with other CMC Markets services and features. Compatibility limitations with certain operating systems or devices.
User-friendly interface and intuitive navigation. MT4 platform may require technical knowledge for advanced customization.
Access to a wide range of trading instruments and market analysis tools. Less frequent updates or improvements compared to CMC Markets Invest.

CMC Markets provides traders with two platform options: MT4 and CMC Markets Invest. MT4 is a widely recognized and popular trading platform known for its extensive range of technical indicators and automated trading tools. It offers a user-friendly interface and provides access to a diverse set of features. On the other hand, CMC Markets Invest is a proprietary platform specifically designed for CMC Markets clients. It offers seamless integration with other CMC Markets services and features, providing a cohesive trading experience. While MT4 has a larger community and third-party plugins, CMC Markets Invest may have a learning curve for new users and a smaller community. Traders can choose the platform that suits their preferences, whether they prefer the familiarity and customization options of MT4 or the integrated features of CMC Markets Invest.

platform options

Maximum leverage of CMCMarkets

The maximum leverage offered by CMCMarkets is currently unknown. While leverage can provide traders with several advantages, such as greater trading flexibility, potential for higher profits, increased market access, and enhanced trading opportunities, it also comes with certain disadvantages. One of the primary disadvantages is the increased risk exposure, as leverage magnifies both gains and losses. Traders need to exercise caution and implement proper risk management strategies to avoid significant losses. Additionally, the use of leverage requires a good understanding of the market and trading principles to make informed decisions. It's important to note that the lack of information regarding the maximum leverage offered by CMCMarkets may make it difficult for traders to assess the level of risk involved in their trading activities.

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
Multiple funding options (credit/debit cards, bank transfers) Charges for credit card payments (1%) and debit card payments (0.6%)
Convenient online withdrawal process Additional charges for bank transfers from outside Australia
Ability to withdraw funds to registered credit/debit cards Limited withdrawal amount to initial deposit
Withdrawal requests processed quickly Possible requirement for additional information/proof of identity
Secure withdrawal process

The dimension of deposits and withdrawals with CMCMarkets offers several advantages and a few considerations to keep in mind. One of the advantages is the variety of funding options available, including credit/debit cards and bank transfers. The online withdrawal process is convenient, and funds can be withdrawn to registered credit/debit cards. Withdrawal requests are typically processed quickly, ensuring prompt access to funds. Additionally, the overall process is secure to safeguard user transactions. However, it's important to note that there are charges associated with credit card (1%) and debit card (0.6%) payments. Additional charges may apply for bank transfers from outside Australia. Moreover, withdrawals are limited to the initial deposit amount on the registered card, and there may be a requirement for additional information or proof of identity. Despite these considerations, the deposits and withdrawals dimension of CMCMarkets provides flexibility and efficiency for users managing their trading accounts.

deposits and withdrawals

Educational resources in CMCMarkets

Advantages Disadvantages
1. Wide range of educational resources available 1. Some resources may require additional fees or charges
2. Diverse formats including videos, webinars, eBooks, etc. 2. Information overload can be overwhelming for beginners
3. Official YouTube channel for additional video content 3. Lack of personalized guidance or mentorship
4. Comprehensive resources such as glossary and FAQ 4. Quality of educational content may vary
5. News and analysis provide up-to-date market insights 5. Self-directed learning requires discipline and effort
6. Accessible for users to enhance their knowledge

The educational resources dimension at CMCMarkets offers a range of advantages to traders and investors. They provide a wide variety of educational materials, including videos, webinars, eBooks, podcasts, news, analysis, guides, and more. The availability of different formats ensures that users can choose the learning style that suits them best. Additionally, CMCMarkets has an official YouTube channel where users can find additional video content. The comprehensive resources, such as the glossary and FAQ section, help users understand key concepts and terms. The inclusion of news and analysis keeps users informed about market developments. Overall, these educational resources are easily accessible and can greatly enhance users' knowledge and understanding of the financial markets.

You may also visit their official YouTube channel to watch more videos. Here is a video about some basic knowledge that every trader should know.

educational resources

Customer service of CMCMarkets

Advantages Disadvantages
1. 24/5 contact availability for customer support 1. Limited customer support availability on weekends
2. Dedicated phone lines for CFD and Share Trading inquiries 2. Potential waiting times to reach a customer support agent
3. Multiple channels of communication (phone, social media) 3. Lack of 24/7 customer support
4. Convenient customer service hours for Share Trading 4. Language limitations may exist for non-English speaking users
5. Physical office address provides a sense of trust and security
6. Active presence on popular social media platforms

The customer care dimension at CMCMarkets offers several advantages to users. Firstly, they provide 24/5 contact availability, ensuring that customers can reach out for support during weekdays. The dedicated phone lines for CFD and Share Trading inquiries allow for specialized assistance in each area. Multiple communication channels, including phone, social media platforms like Facebook, Twitter, LinkedIn, and YouTube, offer users flexibility in choosing their preferred method of contact. The convenient customer service hours for Share Trading align with market opening hours, enabling timely assistance. Additionally, the physical office address in Sydney provides customers with a sense of trust and security. CMCMarkets' active presence on popular social media platforms allows users to stay updated and engaged. However, it's important to note that there may be limitations to customer support availability on weekends and potential waiting times to connect with a representative.

customer care dimension

Conclusion

In conclusion, CMCMarkets is an Australia-registered company that has established itself as a reputable and regulated broker in the financial industry. With over 20 years of experience, they offer a wide range of trading instruments, including forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs. Traders have the flexibility to choose from different account types and access their platform through MT4 or their proprietary platform, CMC Markets Invest. The availability of a free demo account and extensive educational resources further enhance the trading experience for both novice and experienced traders. Customer support is readily available through various channels, ensuring prompt assistance and resolving queries effectively. However, the lack of information on maximum leverage, detailed spreads and commissions, as well as certain fees like the dormancy fee and merchant fees for deposits, could be considered as limitations. Despite these drawbacks, CMCMarkets' strong regulatory compliance, diverse trading offerings, and commitment to providing educational resources contribute to its appeal as a trusted brokerage firm. Traders should conduct thorough research and consider their individual needs before deciding to engage with CMCMarkets or any other broker.

Frequently asked questions about CMCMarkets

  • Question: How can I fund my CMCMarkets account?

  • Answer: You can fund your CMCMarkets account by using a credit or debit card or by transferring funds from your bank account. Please note that third-party payments are not accepted, and additional charges may apply for bank transfers from outside of Australia.

  • Question: What are the trading platforms offered by CMCMarkets?

  • Answer: CMCMarkets provides two trading platforms: MT4 and their own platform called CMC Markets Invest. These platforms offer a range of features and tools to support your trading activities.

  • Question: Is there a minimum initial deposit required to open an account with CMCMarkets?

  • Answer: No, CMCMarkets does not require a minimum initial deposit. You can start trading with any amount you are comfortable with.

  • Question: Does CMCMarkets offer a demo account?

  • Answer: Yes, CMCMarkets provides a free demo account that allows you to practice trading with virtual funds. It's a great way to familiarize yourself with the platform and test your trading strategies without risking real money.

  • Question: How can I contact customer support at CMCMarkets?

  • Answer: You can contact CMCMarkets' customer support team by calling their phone number 1300 303 888. They are available 24/5 for CFD inquiries and have specific hours for Share Trading inquiries. You can also reach out to them through their official social media channels or visit their office in Sydney, Australia.

  • Question: What are the trading instruments available on CMCMarkets?

  • Answer: CMCMarkets offers a wide range of trading instruments, including forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs. This provides you with various options to diversify your trading portfolio.

  • Question: Does CMCMarkets charge any fees for deposits or withdrawals?

  • Answer: CMCMarkets does not charge any fees for deposit or withdrawal operations. However, please note that payment systems may have their own fees, and internal currency conversion rates may apply.

bcr
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, MT5, WebTrader
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.

BCR's home page

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.

regulated by ASIC
offshore regulated by FSC

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.

forex

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

metals CFDs

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

commodities CFDs

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

indices CFDs

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.

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.

click on Join Now button

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.

fill in required info

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.

leveraage

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.

Spreads & Commissions

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.

MT4

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.

payment methods

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.

Deposit & Withdrawal details

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.

economic calendar

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.

glossary

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

Market Live

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.

contact details
contact form

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.

Are the transaction costs and expenses of cmc-markets, bcr lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive cmc-markets and bcr are, we first considered common fees for standard accounts. On cmc-markets, the average spread for the EUR/USD currency pair is Currency pairs 0.7 pips, gold0.3 US dollars, crude oil 0.03 US dollars pips, while on bcr the spread is 0.0+.

Which broker between cmc-markets, bcr is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

cmc-markets is regulated by FCA,FCA,FMA,BaFin,AMF,CIRO,MAS,ASIC,BaFin. bcr is regulated by ASIC,FSC.

Which broker between cmc-markets, bcr provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

cmc-markets provides trading platform including Next Generation and trading variety including Forex, stocks, stock indexes, commodities, bonds, CFDs. bcr provides trading platform including ALPHA ,STANDARD ,SWAP-FREE and trading variety including --.

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