BCR spreads start from 0.1 pips, and traders can expect a minimum charge of 10 lots. BCR does not charge its clients deposit fees and withdrawal fees. BCR does not document any inactivity fees.
Finding a reputable list about BCR Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
BCR spreads start from 0.1 pip on the Alpha account. The spread list and fee schedule, which is offered by BCR is transparent as well as competitive. Fees, spreads, and commissions that traders can expect when trading with BCR is as follows:
The Standard Account offers spreads from 1.7 pips, The Pro Account offers spreads from 1.1 pips and the Alpha Account offers spreads from 0.1 pips.
A rollover or overnight fee is charged on the opened positions overnight alike -2.5 per cent for short and 2.25 per cent for long positions.
BCR takes a 20 USD commission fee per lot on Stock CFD trades.
Additional Trading Fees
When trading financial instruments such as forex, traders can often expect that overnight fees or swap fees will be charged when positions are held for longer than a trading day.
According to BCR, short positions which are held overnight will be credited with swaps. These are calculated based on the one-month interbank rate minus 2.5%.
Should long positions be held overnight, traders will be debited with swaps. This is calculated according to the one-month interbank rate plus 2.25%.
For more information on the swaps that traders can expect, traders can consult the BCR website. The broker makes adequate provision, where forex is concerned, to supply a breakdown of each forex pair and the swap long and swap short rates in pips.
BCR makes provision for an Islamic Account for Muslim traders who follow the Sharia Law, and thus prohibited from earning or paying interest where the holding of open positions is concerned.
BCR does not offer spread betting and thus spread betting fees do not apply.
BCR does not charge its clients deposit fees and withdrawal fees on the following payment methods used:
- Wire Transfer
- Credit Card
- Debit Card
- Internal transfer
- Local Deposits
Although BCR does not charge any other broker fees, traders need to ensure that they verify additional charges which may be waived by their financial institution.
Also, traders may be subjected to currency conversion fees should they transfer fees in a currency which is different from their account base currency.
Pros and Cons
|✔️ PROS||❌ CONS|
|Well regulated||Wide spreads|
|High leverage||High deposit|
|Competitive trading conditions|
|Islamic Account/Swap-free provided for Muslim traders|
You might also like: BCR Sign up bonus
You might also like: BCR Demo Account
You might also like: BCR Minimum Deposit
You might also like: BCR Islamic Account
You might also like: BCR Account Types
How many instruments can I trade with BCR?
You can trade the following financial instruments:
Over 35 currency pairs, two crypto pairs, eight Indice Cash CFDs, 5 Indice Futures, four Metal Spot CFDs, one Metal Future, three Energy Futures, three Soft Futures and over 30 Stock CFDs.
Which platforms are supported by BCR?
Does BCR offer leverage?
Maximum leverage of 400:1.
What spreads can I expect with BCR?
You can expect spreads that start from 1.7 pips when using the Individual account.
Does BCR charge commission?
Yes. Traders can expect a minimum charge of 10 lots. It is unclear whether Islamic account holders are subjected to the same commission charges. Traders must verify this information with the broker as it is not stated on the website.
Is BCR regulated?
Yes. BCR is regulated by ASIC (Australian Securities and Investments Commission) and the BVIFSC (BVI Financial Services Commission).
Is BCR a recommended forex trading broker for experts and beginners?
Yes. BCR caters for both beginners and experts.
What is the overall rating out of 10 for BCR?