BCR was established in 2009, with the goal of providing online trading services. It is also known as Bacera and it is part of the Australian BCR Co Pty Ltd.
It has been regulated by the Australian financial authority – ASIC. Since this company has been in the business for a while, it has managed to establish a community of loyal customers across the globe.
BCR offers some great trading conditions, such as very low spreads, and powerful trading software and guarantees the safety of funds through segregated bank accounts.
Years of good service and excellent customer support are a reason more to decide to invest with this acclaimed broker.
BCR Pros and Cons
First and foremost, BCR is regulated, which means it can guarantee the safety of clients’ funds. BCR further offers several account types to choose from depending on the user’s preferences.
Low spreads, a reliable trading platform, and responsive customer support ensure the trading process for the customers is configured to fit every customer’s needs.
Perhaps a downside to their business is only allowing trading with CFDs and providing support service only during business days. Educational tools are very limited compared to some of the learning resources that other legit brokerage companies provide.
|Platforms||BCR Trader, BCR Apps|
|Base Currencies||USD, AUD|
Is BCR Safe or Scam? License and Regulation
Being regulated by a top-tier Australian regulator means that a broker is operating following strict rules and conditions that govern the jurisdiction. Financial authorities keep an ever observing eye on the regulated brokers’ business and in case of illegal activity, the right countermeasures are taken.
Since BCR has been a regulated broker for a number of years, it can only mean that they meet the standards necessary to run their business. The safety of funds is guaranteed through safety measures taken, with security and protection taken to the highest level.
Account Types Available at BCR
Three account types available at BCR are the following:
- Standard account
- Alpha account
- Swap-free account
The minimum deposit required in order to open a Standard account is $300. For the Alpha account, it is $500, while for the Swap-free account it comes down to $300 as well.
The Alpha account somewhat offers better trading conditions, such as a tighter spread from 0.0 pips and 20 lots per transaction but the necessary fee charged varies from $5 up.
Swap-free accounts require no swaps or interest charges on the overnight positions. Instead of that, a commission fee is dedicated to the account’s total balance. That fee charged is mostly $15 per lot but in some cases, it may vary.
Trading Platform Overview
The broker offers an excellent trading platform that is built on MetaTrader 4. As is already known, MT4 was developed by MetaQuotes and is one of the most popular and often awarded revolutionary trading software.
MT4 is used by over 300 trading companies worldwide and is serving millions of customers globally. Thanks to it, investors can trade a wide range of instruments safely, while being provided a variety of tools to help speed up and ease the trading process.
It allows the usage of the automated program called Expert Advisors (EAs), specially designed to monitor the markets and to be able to trade on behalf of the investor by their instructions.
BCR MT4 is available for download across all platforms and supports all currently most used operating systems.
BCR Trading Instruments
Several major groups of trading instruments are available and able to trade with lightning-fast execution:
One might argue about limiting trading to CFDs is a con to this broker’s business. CFD means Contract for Differences and is an arrangement characterized by the difference between open and closing trade prices being cash-settled.
It is actually a modernized and advanced strategy in trading that is widely used among experienced traders.
The advantage of CFDs is allowing investors to borrow money to increase the leverage of the size of the position to increase gains. CFDs can have lower capital requirements and include very low or no fees at all for trading.
Deposits and Withdrawals
The lowest deposit amount necessary for the trader to start using the platform is $300. Clients can fund their accounts in quite a few ways that legitimate brokers allow access to.
Bank transfer, direct debit, Visa/MasterCard, PayPal, Unionpay, Skrill, Neteller, and Firm-to-Firm transfer are mostly used ways of depositing cash. Most of these methods provide an instant cash deposit and account funding, except that bank transfers could take up to 2 business days.
As for the withdrawal, the process is fast and secure. The client can submit their request for withdrawal and the funds will be sent back the same way they were originally deposited from.
BCR is a broker that doesn’t charge fees for making a deposit or for withdrawing funds. It also doesn’t impose additional conditions on the client to fulfill in order to be able to withdraw the money from their account.
Education and Resources
The BCR education section of the site can offer clients only several short paragraphs that try to explain the basics of trading. Apart from those, there’s a step-by-step part that serves to lead the trader through the process of preparation before starting to trade.
This bit has the BCR MT4 User Guide for iOS, Android, and Windows and a few additional articles explaining important aspects of commission, leverage, margin, spread, etc.
This seems insufficient for a serious brokerage firm. However, keep in mind that the company offers trading with CFDs solely, which are more widely used by professional traders.
Perhaps BCR counts on the probability that an experienced trader is more likely to choose this broker.
Customer Service Overview
Clients who are in need of assistance regarding any trading problem can refer to customer support:
- BCR online support (live chat)
- Phone call
By filling in a form available on the site, clients can describe their issues and the responsible staff will reply as soon as possible via email.
Send a direct message through live chat from any page of the site is also available and the fastest way to reach staff. Lastly, there is also a phone number added, as well as several emails to contact different departments.
BCR Overall Summary
BCR is a regulated broker that offers a reliable trading platform with plenty of features and customizable options.
By providing users with the best possible trading conditions, low spreads, low initial deposit requirements,s and no fees upon every account funding or withdrawal process, this brokerage company ensures the satisfaction of their customers.
Licensed brokers can guarantee the safety of investors’ funds, so traders investing with BCR can trade confidently, knowing that their confidentiality is respected and money secured.
Low initial deposit and fast account making are attractive to first-time traders as they are professionals looking for the best service and trading environment.
Final conclusion about BCR is that, despite minor cons such as insufficient educational resources, this broker offers outstanding trading services and is worth investing with.
FAQs About BCR Broker
How Long will it take for my BCR Account to be Approved?
It doesn’t take a long time for an account to be approved and traders can start investing and trading shortly after making an account.
Who Is the BCR Regulated by?
BCR is regulated by the top-tier Australian regulator – ASIC.
Is there a Minimum Deposit at BCR?
The minimum deposit required at BCR for the user to start trading is $300.
Is there a Minimum Amount I can withdraw at BCR?
BCR doesn’t state a minimum amount for withdrawal, so it is up to the investor to decide and manage their funds.
Does BCR Have a Demo Account?
Yes, BCR has an option of opening a Demo account and trading with virtual funds.