BCS Forex positions itself as a reliable dealer licensed by the Central Bank. On the official website of the intermediary you can find a story about comfortable trading conditions and regulation by higher authorities. Representatives of the project do their best to stimulate the market player to make a large addition, but is it worth joining the project? In this article we will tell you what the company is and whether you can make money with it.
Information about the brokerage company
The exchange intermediary provides very little information about its trading activities. At the same time, employees encourage you to quickly open an account and replenish your starting deposit. They claim that the company is officially licensed and complies with local laws. The project is part of a large financial group that has its own capital.
To become a member of the BCS Forex system, you must go through several stages:
- You must enter personal information.
- Next, you should send a scanned copy of your passport.
- The contract is signed online.
- A trading platform is downloaded to your computer or phone, which allows you to carry out profitable transactions.
The firm describes transparent trading conditions with absolutely no hidden fees. On the main page of its website, it displays real-time quotes, forecasts and analytical reports. The company guarantees access to the most popular currencies in the world. It indicates a comfortable trading environment, but there are quite a lot of negative reviews online. Market players point to poor terms of cooperation and freezing brokerage systems. They claim that it is unrealistic to get rich on such a platform. Before making an investment, a trader must carefully analyze the project. Determine its true advantages and disadvantages.
Which terminal is used for trading?
The BCS Forex company offers to use the popular MetaTrader 5 platform. It combines advanced technologies with fast order execution. The software development provides 6 types of pending orders, a system of personal reports and a one-click trading function. It allows you to buy and sell different financial assets from a single account. The trader gets 80 free technical and analytical tools at his disposal. The system includes a trading robot designer that allows you to create unique advisors.
The software development is downloaded to any device, providing access to markets regardless of current location. In addition, there is a web terminal that provides the opportunity to access the global market without downloading. Thanks to modern technologies, a trader will always stay up to date with the latest news. He will be able to perform a competent analysis and conclude profitable deals.
What analytics does the company offer?
The exchange intermediary allows you to use analytical materials. The official BCS Forex web portal contains market reviews that will help you understand the current situation and make an informed decision. The trader receives forecasts from specialists with many years of experience. He has access to the economic calendar to monitor important events. All of these tools will provide in-depth analysis and help significantly reduce the associated risks.
Comments from real BCS Forex clients
Even at the beginning of cooperation, the client noticed that the trading platform was not stable. After 10-15 minutes of operation it freezes and lags. The market player could not close the position even after the quote fell by 50 points. Because of this, he lost 200 US dollars in one trade. The support service does not provide any assistance, only sending template responses.
The BCS Forex exchange intermediary does not have a high level of reliability or professionalism. The trading platform is unstable and has glitches. Delays in order execution sometimes lead to significant losses. The company is not able to provide quality support. After contacting the client, he received template answers; the problems were not resolved.
Market players note frequent spikes and gaps. Liquidity on the brokerage platform leaves much to be desired. Hourly candles open with gaps of 20-25 points. Technical support staff are aware of the problems, but do not plan to solve them. The BCS Forex office does not impress clients. Quotes differ from the market ones, the number of unprofitable transactions increases due to poor functionality of the terminal.
The company showed itself from the worst side. It sets high swaps and spreads that make it impossible to make money on the pricing of financial assets. Only beginners can tolerate such conditions, while experienced traders are highly likely to choose another company. Some traders were interested in the BCS Forex bonus system for attracting clients. The brand representative promised good earnings from the referral program, but after fulfilling the conditions, the partner never received his bonus.
Why shouldn’t you trade with BCS Forex?
The exchange intermediary provides dubious services, and therefore there are a huge number of negative comments on the network. Market players express dissatisfaction with trading platforms, offered conditions and technical support. Apparently, it is almost impossible to make money in the BCS Forex system. Most clients lose their deposit for one reason or another. The terminal functions extremely poorly, and therefore even well-thought-out transactions turn into global losses. We recommend avoiding a brokerage project that is not capable of providing quality service.