BCR Bacera Review 2024
Website: www.bcrcorp.com.au
Min. Deposit: US$ 300
Leverage: 1:30 | 1:400
Trading Platforms: BCR Trader, BCR Apps
Regulation: ASIC, BVIFSC
Headquarters: Australia
Founded: 2009
Regulatory Licenses:
- Bacera Co Pty Ltd — authorized by ASIC (Australia) registration ABN 87 130 877 137 and AFSL 328794.
- BCR Co Pty Ltd — authorized by BVIFSC ( British Virgin Islands) registration no. SIBA/L/19/1122
Updated on February 2, 2024
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BCR, also known as Bacera, is a prominent Australian brokerage services firm established in 2008, specializing in CFD trading. The broker grants traders access to a variety of trading platforms, an extensive selection of financial instruments, and competitive trading conditions such as low spreads and swift execution speeds. This review is based on an in-depth analysis comparing BCR with over 1000 brokers, focusing on aspects like regulatory compliance, trading conditions, platform offerings, and customer service.
BCR stands out as one of the reputable brokers regulated in Australia, offering straightforward account opening and favorable conditions for CFD trading, including robust trading platforms and comprehensive market analysis. However, its offerings are somewhat limited to CFDs, and educational resources could be more extensive for novice traders. Additionally, some account types come with spreads that are above the industry standard.
Pros
Easy account opening process
Good trading conditions for CFDs
Quality platforms and comprehensive market analysis
Cons
Limited to CFD trading instruments
Educational materials could be more extensive
Higher spreads for certain account types
BCR Review Summary in 10 Points ▲
Headquartered in Australia, BCR is a regulated entity by ASIC and BVIFSC, offering trading platforms such as BCR Trader and BCR Apps. The broker provides CFD products in shares, indices, commodities, oil, FX, and precious metals. With a EUR/USD spread of 1.6 pips, a demo account, a minimum deposit requirement of $300, account base currencies in AUD and USD, it also offers educational resources including weekly market overviews and analyses. Customer support is available 24/5.
BCR achieves a notable ranking with a Broker Insight Trust Score of 4.0 out of 5. This score reflects BCR’s commitment to regulatory compliance, client protection, and creating a secure trading environment, thus making it a reliable choice for traders.
BCR is a regulated and secure broker based in Australia, overseen by ASIC. It is also a member of the Financial Ombudsman Service, ensuring transparent and compliant operations. While BCR is regulated in the British Virgin Islands as well, it's crucial for traders to exercise caution due to potentially less stringent regulations in offshore jurisdictions. Nonetheless, BCR’s adherence to regulatory standards and client protection measures, such as fund segregation in top-tier Australian banks and secure trading environments, affirm its reliability. The BCR Trust Score, as determined by Broker Insight, is 4.0 out of 5, indicating a high level of trust and security for its clients, despite the existence of an offshore entity for international operations.
Leverage in the forex market serves as an essential tool, enabling traders to amplify their trading position by utilizing a small amount of capital to control a larger amount of currency. This mechanism offers the potential for magnified profits but also comes with a heightened risk of losses. In Australia, regulatory measures have capped the maximum leverage available to traders at 1:30, aiming to protect retail investors from the risks associated with high leverage. In contrast, BCR's international entity provides traders the option to select leverage up to 1:400, a significantly higher level. While the availability of high leverage can be enticing, it is crucial for traders to educate themselves on its prudent use, as the global consensus among financial authorities is to limit leverage ratios to protect traders.
BCR offers a variety of account types tailored to meet the diverse needs of traders across different jurisdictions. In Australia, traders can choose between the Advantage and Alpha account types. The Advantage account allows for commission-free trading, with trading costs incorporated into the spreads, while the Alpha account offers raw spread trading with a commission fee ranging between $5 and $6. For international traders, BCR's offering expands to four account types under its BVI entity: Standard, Advantage, Alpha, and Swap-Free. Each account type comes with its own set of features and benefits, including access to a web-based account portal for efficient account management, such as handling deposit or withdrawal requests, maintaining records, and communicating with customer service. Furthermore, upon funding a trading account, traders become eligible to participate in various promotional activities, potentially winning prizes. For those new to forex trading, BCR provides a Demo account option, enabling risk-free trading with a 30-day trial period, an excellent way for beginners to gain experience before transitioning to live trading.
BCR provides its clients with a wide range of trading instruments, catering to the diverse investment goals and strategies of traders. The available instruments encompass major forex pairs, minor pairs, and exotic pairs, offering ample opportunities for currency trading. Beyond currencies, BCR's portfolio includes commodities, indices, stocks, and cryptocurrencies, allowing traders to diversify their investment portfolio across different asset classes. The availability of a broad spectrum of trading instruments ensures that BCR clients can capitalize on various market conditions, employing both short-term and long-term trading strategies.
BCR's fee structure varies based on the type of account you opt for. The Alpha account, for example, boasts tight spreads starting from 0 pips in addition to a commission per round trip ranging between $4 and $5. In contrast, the Standard and Advantage accounts do not incur commissions, but feature higher spreads for forex trading as fees are embedded within them. Furthermore, for traders adhering to Islamic law, a swap-free account option is available.
It's important to also take into account other non-trading fees, including inactivity and rollover fees. For an exhaustive fees breakdown and comparison with other brokers, refer to the comprehensive table below.
Based on our extensive research involving over 1000 brokers, BCR Fees have been awarded a score of 3.9 out of 5.
BCR offers variable spreads depending on the account type chosen. For an average spread offering, you might see spreads starting from 0 pips. Moreover, it's crucial to consider rollover or overnight fees as part of your trading costs, which are applied to positions left open overnight—typically around -2.5% for short and 2.25% for long positions.
In our comparative analysis, BCR's Spreads have been rated 4.0 out of 5, noting that for certain account types, forex spreads are significantly lower than the industry's average of 1.2 pips for EURUSD. Spreads for other instruments are also competitively priced.
To commence live trading with BCR, you can utilize bank wire transfers, credit card payments, or UnionPay as funding methods. The withdrawal process is streamlined, accessible through the customer account request interface.
We have rated BCR's Funding Methods as excellent, with a score of 3.9 out of 5. Although the minimum deposit requirement is above the industry's average, there are minimal to no fees for transactions, and various account currencies are supported.
BCR sets the minimum deposit at $300, which is considered an average threshold that accommodates both novice and experienced traders. Most other brokers have a minimum deposit of $500.
BCR does not impose internal charges for either deposits or withdrawals. While a wide range of withdrawal options is available including the most commonly used Bank wire and Credit Cards, any fees related to international telegraphic transfers or other charges from your provider are the responsibility of the client.
BCR has placed a strong emphasis on technology, leading to the development of its award-winning trading platform. This platform is built on MetaTrader4 software and is recognized for its low transaction costs, which enable a broader range of trading styles. BCR supports various trading strategies, including the use of Expert Advisors (EAs) and scalping.
Our evaluation places BCR's Platform at a score of 4.0 out of 5 when compared to over 1000 other brokers. While offering the industry-standard MetaTrader4 is commendable, the absence of alternative platforms is noted as a drawback. The platform boasts advanced charting capabilities, numerous indicators, and tools that enhance the trading experience. It combines advanced features with an intuitive interface, available on both desktop and mobile applications for iOS or Android devices, ensuring great functionality on the go.
BCR provides exceptional support, recognizing the importance of customer satisfaction. By offering around-the-clock service, BCR effectively addresses clients’ inquiries and issues. Additionally, a wealth of educational materials is available at the BCR hub, catering to various levels of expertise.
Weekly market overviews, along with fundamental and technical analyses, are regularly provided by the BCR team, offering ample opportunities for learning and improvement. Based on our testing, BCR’s Customer Support has been rated 4.0 out of 5. Responses were among the fastest and most informative compared to other brokers, though the availability of multilingual support is lacking.
BCR's website offers a variety of educational resources tailored to support new traders in navigating the complexities of forex trading. One key feature of their educational offerings is a comprehensive glossary. This tool is particularly beneficial for beginners, as it helps demystify the often-complex terminology used in forex trading, making it more accessible and understandable.
In addition to the glossary, BCR has also compiled a selection of articles that cover the fundamentals of trading. These articles are an excellent resource for anyone starting out in the forex market, providing insights into basic trading concepts and strategies. Furthermore, BCR has made available a range of product guides for download. These guides offer more detailed information on various trading products, allowing traders to make informed decisions based on their individual trading goals and risk appetite.
However, it's important to note that while BCR's educational content is comprehensive in certain areas, it currently does not include video tutorials or webinars. This could be a limitation for those who prefer learning through visual and interactive content.
Based on our research, BCR Education is rated 7.9 out of 10. This rating reflects the quality and utility of the educational materials provided by the broker. BCR is recognized for delivering good quality educational content, complemented by excellent analysis. While the absence of video tutorials and webinars might be a drawback for some learners, the available resources still constitute a solid foundation for understanding and engaging in forex trading.
The BCR Review concludes that the broker is a trustworthy partner for trading, backed by top-tier regulation from ASIC. BCR stands out for its proprietary trading solution for CFD products on an OTC basis, a powerful platform based on MT4 technology, competitive spreads, and attractive bonus programs.
Our findings position BCR as an excellent choice for traders at all levels of expertise, supporting algorithmic, copy, hedging, and scalping trading. The broker facilitates trading with MetaTrader4 across currencies and CFDs, is adaptable to multiple strategies, offers free VPS, and supports EA trading.
