BCR information

BCR is a 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).

Pros & Cons

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.

Cons:

• Offshore Regulation: BCR claims to be regulated by FSC, but it is offshore.

• 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.

• No 24/7 Support: 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？

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.

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.

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

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

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

However, cryptocurrencies are currently unavailable.

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 for the Standard and Advantage accounts to $3,000 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 commission per lot per side. The lot size per transaction is capped at 20 for all 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.

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.

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.

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

Specifically, the commissions and spreads need to pay will differ for the various trading accounts traders have.

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.

Trading Platforms

BCR provides traders with popular MT4 (MetaTrader4) and MT5 (MetaTrader5) platforms as well as a user-friendly Webtrader and MAM platform. Some other popular and user-friendly trading platforms like cTrader and TradingView are not supported.

Deposit & Withdrawal

BCR provides its customers with over 10 payment options. The options available for depositing and withdrawing funds include Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, and USDT.

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.

Trading Tools & Education

BCR also provides some trading tools and educational resources to help traders to gain a superb trading environment.

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.

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.

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

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

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.

FAQs

Is BCR Legit？

Yes. BCR operates legally and it is regulated by ASIC and offshore regulated by FSC.

What assets can I trade with BCR？

Forex and CFDs on metals, commodities, and indices.

Does BCR offer demo accounts？

Yes.

Does BCR offer industry leading MT4 & MT5？

Yes. It supports both MT4 and MT5.

Is BCR a good broker for beginners ？

Yes, given its stringent Australian regulation and its provision of demo accounts for novices to engage in risk-free trading, BCR could be an excellent option for beginners.

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.

*Please note that the information in this table is subject to change and you should always refer to the broker's official website for the most up-to-date information.

STARTRADER Information

STARTRADERL's website is operated by three companies, all belonging to the same Group of Companies, which include:

- Startrader (Cy) Ltd

Registration No: HE 421001

Registered Address: 160 Archbishop Makariou III, 1st Floor, 3026 Limassol, Cyprus.

- STARTRADER International PTY Limited

Registration No: 66663183

Physical Address: Level 35, 31 Markets Street, Sydney NSW 2000, Australia.

Registration Address: Flat/RM A, 12/F, ZJ 300, 300 Lockhart Road, Wanchai, Hong Kong.

Tel: +61 2 9925 4396.

- STARTRADER Limited

Registration No: 8427362-1

Physical Address: Block B, Room 2, No.2, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Register Address: Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Tel: +248 4325865

Email: info@startrader.com

Pros & Cons

STARTRADER offers a wide range of tradable instruments, and generous leverage up to 1:500. The broker also provides multiple trading platforms with advanced charting tools and technical analysis indicators, as well as educational resources for traders.

However, there are some downsides, such as regional restrictions and limited account types offered.

Is STARTRADER Legit？

STARTRADER has three entities under regulation:

STARTRADER PRIME GLOBAL PTY LTD is regulated by the Australia Securities & Investment Commission(ASIC) under regulatory license number: 421210.

STARTRADER Limited is offshore regulated by the Seychelles Financial Services Authority (FSA) under regulatory license number SD049.

STARTRADER INTERNATIONAL PTY LTD is regulated by the Financial Sector Conduct Authority (FSCA) under regulatory license number 52464.

These regulatory bodies typically require brokers to follow strict operational guidelines intended to protect traders.

Further adding to the broker's credibility is its employment of security measures like segregated client accounts, which refers to the practice of keeping client funds separate from the company's operating funds. It also guarantees negative balance protection, preventing clients from losing more than their account balance. The use of SSL encryption technology ensures secure data transfer.

All these factors suggest that STARTRADER is not a scam and can be considered a legit broker.

However, it's crucial for traders to be cautious and alert. This includes understanding the broker's terms and conditions and researching online reviews to gain a comprehensive understanding of other traders' experiences with the broker.

Market Intruments

STARTRADER offers 800+ market instruments for traders to choose from, providing ample opportunities for traders to invest and diversify their portfolios.

• Forex: STARTRADER offers over 50 currency pairs, including major, minor, and exotic currency pairs for forex trading, including EUR/USD, GBP/USD, USD/JPY, and AUD/CAD, among others.
• Stocks: The broker also provides access to over 700 different stocks, allowing traders to take a position on a wide range of companies across various sectors.
• Commodities: STARTRADER offers more than 10 commodities, providing an opportunity for traders to engage in the trading of both soft (like wheat, cocoa, or coffee) and hard commodities (like gold, oil, or natural gas).
• Indices: They also provide more than 20 indices, tracking various segments of the financial markets, both globally and regionally.
  

Account Types

Apart from free demo accounts, STARTRADER offers two primary live account types.

The Standard account is designed for traders who prefer fixed spreads, and is well-suited for beginners or traders who prefer a simpler trading experience. This account type offers spreads from 1.3 pips and leverage up to 1:500, with no minimum deposit disclosed.

The ECN account, on the other hand, is tailored to more experienced traders who require a more sophisticated trading experience. This account type offers spread as low as 0.0 pips and allows traders to access the interbank market, which can provide greater liquidity and potentially tighter spreads. It also offers competitive leverage up to 1:500 and no minimum deposit is disclosed.

The accepted currencies are AUD, CAD, EUR, GBP, USD, and NZD.

How to Open an Account？

Opening an account with STARTRADER is a straightforward and easy process that can be completed in just a few simple steps.

Step 1: First, visit the STARTRADER website and click on the “OPEN LIVE ACCOUNT”or “OPEN FREE DEMO ACCOUNT” button. You will be prompted to fill out a registration form, which requires you to provide some personal information, such as email address and password.

Step 2: Next, you will need to provide some additional information, such as your preferred account type (Standard or ECN), currency preference, and trading platform preference.

Step 3: After completing the registration form, you will be asked to verify your email address by clicking on a link sent to your email inbox. You will then need to provide proof of identity and address by uploading a copy of your government-issued ID and a recent utility bill or bank statement.

Step 4: Once your account is approved, you can fund your account and start trading immediately. STARTRADER supports a range of payment methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc.

Leverage

TARTRADER offers a maximum trading leverage of up to 1:500, which is still relatively high compared to other brokers in the industry. While leverage can magnify potential profits, it can also increase the risks associated with trading.

Spreads & Commissions

While STARTRADER does offer transparent trading fees, the exact commission charges for ECN accounts are different due to the instrument being traded and other factors such as account activity.

For Standard accounts, there are no commissions charged on trades made through the account. Instead, the broker makes money through the spread, which is the difference between the bid and ask price of a financial instrument. The spreads offered by this broker starts from 1.3 pips.

For ECN accounts, the spreads offered by the broker are typically lower, starting from as low as 0.0 pips. However, traders are charged a commission $7 per lot traded.

Trading Platforms

STARTRADER provides four distinct trading platforms: the widely popular and extensively-used MetaTrader 4 (MT4), its newer and more sophisticated version, MetaTrader 5 (MT5), its proprietary WebTrader platform and App.

MT4 (Windows, Mac, iOS, Android, Webtrader) is renowned for its advanced technical analysis tools, algorithmic trading capabilities, and high-speed trade execution, making it a favored platform amongst traders of all experience levels. It offers traders an array of features, such as customizable charting, real-time quotes, and a vast selection of technical indicators.

MT5 (Windows, Mac, iOS, Android, Webtrader), on the other hand, is the latest version of the MetaTrader platform, offering even more advanced features and capabilities, including enhanced charting and analytical tools, multi-currency support, and a more extensive selection of timeframes. It is also designed to support additional types of assets such as stocks and futures, providing traders with greater market diversity.

STARTRADER's proprietary WebTrader platform, is a web-based trading platform that offers traders a wide range of tools, including real-time quotes, charting tools, and technical analysis indicators, while also providing a user-friendly interface that is easy to navigate.

STARTRADER also provides an App, allowing users to trade anytime and anywhere. It is available for iOS and Android platforms.

Copy Trading

STARTRADER's offering of a copy trading feature is great for traders who prefer to capitalize on the expertise of successful traders. Copy trading allows traders to directly copy the positions opened and managed by another selected trader. Hence, when the copied trader makes a trade, the same trade is automatically executed in the copying trader's account.

This can be particularly beneficial for novice traders who are still learning the ropes or people who don't have the time to study and monitor the markets consistently. It provides a form of passive management and can be a way to learn and understand more about trading strategies in real-time.

However, it's crucial to remember that all trading involves risks and just because a trader was successful in the past does not guarantee they will be in the future. Always practice risk management and ensure to align copy trading actions with your risk tolerance and financial goals.

Trading Tools

STARTRADER offers a suite of impressive trading tools that contribute towards a comprehensive and efficient trading experience.

They provide a Virtual Private Server (VPS) service which allows traders to run automated algorithmic strategies continuously 24/7 on a virtual machine, facilitating more robust connectivity and faster order execution.

Their economic calendar is a vital tool for fundamental analysis, helping traders track important economic events that have the potential to impact financial markets. This can be beneficial for planning trades and managing risk.

In addition, their news room serves as a source for real-time market news, keeping traders updated about significant developments that can cause market volatility.

Deposit & Withdrawal

STARTRADER supports a variety of deposit and withdrawal methods for its clients, with a minimum deposit requirement of $50. The broker allows deposits via several methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc. There are zero deposit fees on most payment methods.

Deposits made via bank wire transfer can take 3-5 business days to clear, while deposits made via other methods are typically processed instantly. For withdrawals, clients can use the same methods as for deposits, with processing times varying depending on the chosen method.

To withdraw funds, you should log to “My account” with your username and password. Initiate the request to withdraw funds. Here are some important notifications you should notice when withdrawing funds:

• Withdrawal forms received after 21:00 (GMT) will be processed the following day. If these are received before 07:30 (GMT) theyll be processed on the same day.
• Any International Telegraphic Transfer (TT) fees charged by the banking institution are passed onto the client. Most International TTs are approximately $20.

Bonus & Promotions

There are many promotions available at STARTRADERL, including 20% cumulative bonus up to $10,000, 50% first deposit bonus, 20% subsequent deposit bonus. The registration period is from 00:00 May 13th, 2024 to 23:59 December 31st, 2024 (based on MT4 time).

Affiliate switch bonus is also offered, from 00:00 01.08.2024 to 23:59 31.12.2024 (based on MT4 time). But it is only for FX pairs, Gold, Silver, Oil products and Index. Commodities and Crypto are not applicable.

You can find more detailed info about promotions on their site.

Education

STARTRADER offers some educational resources designed to help traders improve their knowledge and skills in the Forex and CFD markets. These resources include webinars and a knowledge center.

The educational webinars are conducted by market experts who provide traders with insights and analysis on a range of topics, from technical analysis to risk management. The webinars are designed to help traders stay up to date with market developments and make informed trading decisions.

In addition to webinars, STARTRADER also provides traders with a knowledge center, which includes some educational materials such as e-books, videos, and tutorials. These materials are aimed at traders of all levels, from beginners to advanced traders, and cover a wide range of topics such as trading strategies, market analysis, and risk management.

Customer Service

Contact Channel	Details
	LIve chat
	Contact form
	info@startrader.com
	https://www.facebook.com/startrader.intl/
	https://www.youtube.com/@Startrader.international/feature
	https://www.instagram.com/startrader.international/
	https://www.linkedin.cn/incareer/company/startrader-global/
	https://twitter.com/STARTRADER_int
	https://www.tiktok.com/@startraderofficial
	https://t.me/STARTRADER_Official

Q&A

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.