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Do you want to know which is the better broker between BCR and RoboForex ?
In the table below, you can compare the features of BCR , RoboForex side by side to determine the best fit for your needs.
--
XAUUSD:27.33
EURUSD: -6.82 ~ 2.29
XAUUSD: -37.66 ~ 18.83
EURUSD:-0.3
EURUSD:-2.5
EURUSD:14.43
XAUUSD:21.39
EURUSD: -9.3 ~ 1.2
XAUUSD: -29 ~ -3
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of bcr, roboforex lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
BCR | Basic Information |
Founded | 2008 |
Registered Country | British Virgin Islands |
Regulation | ASIC, FSC (Offshore) |
Tradable Assets | Forex, CFDs on metals, commodities, indices |
Account Types | Standard, Advantage, Alpha, and Affiliate |
Demo Account | ✔ |
Islamic Account | Not specified |
Maximum Leverage | 400:1 |
Spreads | From 3.0 pips |
Trading Platforms | MT4, MT5, WebTrader, MAM |
Minimum Deposit | $300 |
Payment Methods | Bank transfer, MasterCard, Direct Debit, Visa, UnionPay, Fasapay, helpay2, NPAY, Skrill, Neteller, POLi, USDT |
Customer Support | 24/5 online chat, contact form, phone: +44 3300010590, email: info@thebcr.com, social media |
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 |
• Regulated by ASIC | • Offshore Regulation |
• Demo Account | • Limited Account Types |
• Commission-free | • Wide Spreads |
• Advanced MT4 Trading Platform | • No 24/7 Support |
• Various Market Research Tools |
• 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.
• 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.
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.
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.
Tradable Assets | Supported |
Forex | ✅ |
Commodities | ✅ |
Metals | ✅ |
Indices | ✅ |
Cryptocurrencies | ❌ |
Futures | ❌ |
Options | ❌ |
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.
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.
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.
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.
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.
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.
Platforms | Supported |
MetaTrader 4 (MT4) | ✅ |
MetaTrader 5 (MT5) | ✅ |
WebTrader | ✅ |
MAM | ✅ |
cTrader | ❌ |
TradingView | ❌ |
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.
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.
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.
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.
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.
RoboForex Review Summary | |
Founded in | 2009 |
Registered Country/Region | Belize |
Regulation | CySEC, NBRB, FSC (offshore) |
Tradable Instruments | Stocks, indices, futures, ETFs, soft commodities, energies, metals, currencies |
Demo Account | ✅ |
Leverage | Up to 1:2000 |
Spread | Floating from 0 pips |
Trading Platform | MT4, MT5, WebTrader, MobileTrader, R StocksTrader |
Minimum Deposit | $/€10 |
Payment Method | Local bank transfer, e payments (AstroPay, Skrill, Neteller, Perfect Money, Sticpay), bank cards (VISA/MasterCard/JCB/CUP), QR & Vouchers, Western Union |
Customer Support | 24/7 - live chat, contact form, phone |
Regional Restrictions | USA, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, Ukraine, Belarus |
*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.
Roboforex, the trading name of Roboforex Cy Ltd, is a forex broker that has been around for over a decade and has made a name for itself in the industry. Founded in 2009, Roboforex is based in Belize, and then became a member of the FSCL, launched a negative balance guarantee service, later added CFD instruments, and introduced gold and CNY trading accounts. Roboforex offers a wide range of trading instruments, including stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies, with over 10,000 instruments available for trading. In 2016, Roboforex started creating a proprietary investment platform with a professional analysis centre RAMM and released stock trading. In 2019, the forex broker's tradable instruments reached 11,700, with global updates for the Android and iOS versions of R WebTrader and R MobileTrader, and won more than 20 awards in the financial industry.
One of the key features of Roboforex is its variety of account types. The broker offers several different account options, including Prime, ECN, R StocksTrader, Pro Cent, Pro, and Demo Accounts.
In addition to its diverse account types and trading instruments, Roboforex also offers several different trading platforms. The broker supports both the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own proprietary platform,WebTrader, MobileTrader, R StocksTrader.
Roboforex also offers various educational resources, including webinars, video tutorials, and market analysis, to help traders improve their trading skills and knowledge. In terms of customer support, Roboforex provides 24/7 multilingual support via phone, live chat, and contact form.
Some of the pros of trading with RoboForex include its low minimum deposit requirement, high leverage options, and multiple account types. The broker also provides a variety of trading platforms, including the popular MetaTrader 4 and 5 platforms, and has a useful selection of educational materials for beginners.
However, some of the cons of trading with RoboForex include its limited research tools, lack of transparency in pricing.
Pros | Cons |
Regulated by CYSEC, NBRB, and FSC (offshore) | Limited research tools |
Wide range of trading instruments available | High commission fees for certain account types |
Low minimum deposit requirement | Withdrawal fees for certain payment methods |
Generous leverage up to 1:2000 | |
Multiple account types to suit different needs | |
Multilingual customer support offered | |
Multiple user-friendly trading platforms to choose from | |
Free education materials and webinars |
Robomarkets Ltd is authorized and regulated by Cyprus Securities and Exchange Commission (CySEC) under the license number of 191/13.
Another entity, RoboMarkets, LLC, is authorized and regulated by the National Bank of the Republic of Belarus (NBRB) under the license number of 15.
RoboForex Ltd. is authorized and offshore regulated by the Financial Services Commission (FSC) under license number of IFSC/60/271/TS/17.
This means that the broker is required to adhere to strict regulations and guidelines to ensure the safety of its clients' funds and the integrity of its operations. Additionally, Roboforex is a member of the Financial Commission, an independent organization that provides a neutral dispute resolution process for its members and their clients. It also offer negative balance protection.
RoboForex offers a diverse range of market instruments, including Forex, Stocks, Indices, CFDs on Futures, Energies, Commodities, Cryptocurrencies, and ETFS.
RoboForex understands that each trader is unique and has their own trading needs and preferences. That's why they have created a diverse range of trading accounts to cater to all types of traders.
Opening an account with RoboForex is a straightforward process that can be completed in just a few steps.
The maximum leverage of 1:2000 available for the Pro Account and Pro Cent account type is particularly noteworthy, offering experienced traders a chance to pursue even more profitable trades. The Prime and ECN accounts also offer high leverage, ranging from 1:300 to 1:500.
However, it's important to note that high leverage can magnify both profits and losses, so traders should use it carefully and with proper risk management strategies in place.
RoboForex offers a variety of trading accounts that determine the spreads and commissions charged. For instance, the Pro Cent and Pro accounts provide average spreads starting at 1.4 pips, whereas the ECN account offers an average spread from as low as 0.1 pips. On the other hand, the Prime account entails up to 10% commissions, while the ECN account provides up to 15% commissions. It's essential to note that the trading fees may vary based on the trading instruments used and market conditions. As such, it's advisable to check the spreads and commissions charged for each trading account before making any trading decisions.
The R stockstrader account stands out as a distinctive trading account option offered by RoboForex, which entails a unique commission structure for trading various instruments. For instance, trading US stocks under this account attracts a commission of 0.009 USD per share, while EU stocks command a commission of 0.025 USD per share. CFDs on US stocks are charged a commission of 0.02 USD per share, while for CFDs on EU stocks, the commission is 0.07%. As for trading currencies, a commission of 15 USD is applied for every 1 million base currency traded. The commission for trading indices is variable and subject to changes based on market conditions.
RoboForex also charges non-trading fees, which include fees for deposits and withdrawals, as well as account inactivity fees. Inactivity fees are also charged for accounts that have been inactive for more than 90 days, with a fee of $10 per month applied until the account becomes active again.
RoboForex charges overnight interest, also known as swap, on positions held overnight on certain instruments. The overnight interest rates for long and short positions vary depending on the instrument and the trading account type. The rates can be found on the trading platform or on the broker's website.
RoboForex provides a range of trading platforms to cater to different trading needs and preferences. The most popular trading platforms offered by RoboForex include MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are available for desktop, web, and mobile devices, allowing traders to access the markets from anywhere at any time.
MT4 is a widely used trading platform that offers advanced charting capabilities, automated trading features, and the ability to customize indicators and trading robots. MT5, on the other hand, is a more advanced version of MT4, with additional features such as multi-currency strategy testing and more advanced analytical tools.
In addition to these popular trading platforms, RoboForex also offers its own proprietary platforms, including MobileTrader and R StocksTrader. MobileTrader is a mobile trading platform that provides access to trading accounts, real-time market data, and order execution. R StocksTrader, as mentioned earlier, is a unique trading account that offers commission-based trading on US and EU stocks.
Lastly, for traders who prefer to trade directly from their web browser, RoboForex offers the WebTrader platform. This platform requires no download or installation and offers a simple, user-friendly interface for trading.
RoboForex offers a variety of deposit and withdrawal options, including Local bank transfer, e payments (AstroPay, Skrill, Neteller, Perfect Money, Sticpay), bank cards (VISA/MasterCard/JCB/CUP), QR & Vouchers, Western Union. The accepted currencies are USD, EUR, GBP, and CHF.
There are no deposit fees, but withdrawal fees may apply depending on the payment method used. For example, withdrawals through AstroPay are subject to a fee of 0.5%, and withdrawals through Skrill and Neteller are subject to a fee of 1% and 1.9%, respectively. Withdrawal fees through VISA, MasterCard/JCB/CUP are subject to a fee of up to 2.6 % +1.3 USD.
Withdrawals are processed within 1 business day. The processing time for bank transfers can take up to 5 business days.
Roboforexs customer support can be reached by telephone: +65 3158 8389 (English), +88 6277414290 (HK), +66 65 965 6091 (Thailand), email: info@roboforex.com, info@roboforex-cn.org. The online chat function is available 24/7, allowing clients to connect with a representative in real-time and receive assistance promptly. Additionally, the company's website has an extensive FAQ section, which provides answers to many common questions about trading accounts, deposit and withdrawal methods, trading platforms, and more.
Besides, clients can also follow up with this broker on some social media platforms, such as Facebook, Twitter, Instagram and Youtube.
Company address: 2118 Guava Street, Belama Phase 1, Belize City, Belize; 9724 Ramiro Duran Street, Belize City, Belize.
RoboForex offers some educational resources to help traders improve their skills and knowledge, including a wide range of analytics, comprehensive educational materials, trading tools such as a trading calculator and financial charts, and much more. These resources are designed to help traders stay up-to-date with the latest market trends and make informed trading decisions, but it's important to note that additional independent research may be necessary for more advanced strategies.
To summarize, RoboForex is a renowned online brokerage firm that provides a diverse range of account options catering to various trading requirements. The broker offers an extensive range of tradable instruments, competitive trading fees, and high leverage options. The user-friendly trading platforms come equipped with advanced trading tools. The broker also offers excellent customer support, with multiple channels available for assistance.
While RoboForex presents an excellent trading opportunity, it is crucial to exercise caution while trading with leverage and implement proper risk management strategies.
Is RoboForex a regulated broker?
Yes, RoboForex is regulated by several financial authorities, including CySEC, NBRB, and FSC (offshore).
What trading platforms does RoboForex offer?
RoboForex offers a variety of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, WebTrader, R MobileTrader, and R StocksTrader.
What is the minimum deposit required to open an account with RoboForex?
The minimum deposit required varies depending on the account type, $10 to open most account types, and $100 to open the R Stockstrader account.
What trading instruments can I trade with RoboForex?
RoboForex offers a range of trading instruments, including stocks, indices, futures, ETFs, soft commodities, energies, metals, and currencies.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive bcr and roboforex are, we first considered common fees for standard accounts. On bcr, the average spread for the EUR/USD currency pair is 1.7+ pips, while on roboforex the spread is Floating from 1.3 pips.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
bcr is regulated by ASIC,FSC. roboforex is regulated by CYSEC,NBRB,FCA,FSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
bcr provides trading platform including Affiliate,Alpha,Advantage,Standard and trading variety including --. roboforex provides trading platform including Pro,Prime,ECN,ProCent,R StocksTrader and trading variety including 36 currency pairs, Metals, CFD on US stocks, CFD on Indices, CFD on Oil, Cryptocurrencies.