Information
BCR, a Forex broker established in 2008, is based in Australia with an offshore division in the British Virgin Islands. It’s regulated by both the Australian Securities and Investments Commission (ASIC) and the British Virgin Islands Financial Services Commission (BVIFSC), providing a dual regulatory framework for its operations.
BCR Broker Overview
Regulatory Compliance
- Australian Operations: BCR AU, regulated by ASIC, adheres to stringent financial standards and offers client fund protection. The ASIC regulation ensures transparent and compliant operations.
- Offshore Operations: BCR BVI operates under BVIFSC regulation. While offering more flexible trading conditions, it’s essential for traders to be mindful of the generally less stringent regulations in offshore jurisdictions.
Trading and Leverage
- Leverage Options: BCR offers variable leverage, with a maximum of 1:400 available through its BVI entity. Australian traders are subject to a maximum leverage of 1:30 due to ASIC regulations. Leverage is a powerful tool, but it requires careful handling due to its potential risks.
- Instruments and Platforms: The broker provides a variety of trading instruments, including currency pairs, CFDs on stocks, indices, and commodities, through the popular MetaTrader 4 platform.
Account Types
- BCR caters to different trading preferences with accounts like Standard and Alpha. The Standard account offers commission-free trading with spreads built into the fees, while the Alpha account features raw spread trading with commission charges.
- Demo Accounts: For beginners or those looking to test strategies, BCR offers a demo account with virtual funds, enabling risk-free trading experience.
Fees and Spreads
- Spreads and Commissions: BCR’s fee structure varies with account types. The Alpha account offers tight spreads starting from 0 pips but includes a commission fee. For stock CFD trades, a flat commission fee of $20 per lot is charged, in addition to the spread.
- Additional Charges: Traders
