BCR is a brand name of BCR Co Pty Ltd, a company that is authorised and regulated by the financial services commission of the British Virgin Islands. BRC claims that all client money is segregated from company assets and is held in a client money account.
The BCR product portfolio consists of over 80 instruments separated into currency pairs, commodities, indices, cryptocurrencies, and shares.
Customers can trade through the industry leading MetaTrader 4 (MT4) online trading platform, which is available as a desktop and a mobile terminal. MT4 allows clients to use automated programs called Expert Advisors (EAs), which monitor the markets and open and close positions on client behalf. Customers can build their own trading robots or use the built-in ones. The average spread of the EUR/USD pair is about 1.6 pips. And that for Bitcoin is about USD20. The minimum deposit to open an account is USD300.
The company provides deep liquidity and clients should not be concerned about latency and slippage, BCR claims in the about us section. However, the trading conditions document informs that clients should keep in mind that during volatile market conditions stop loss orders may not be filled at the price requested by the client. They may be executed at the first available price, so slippage may occur. In other words, stop loss orders are not guaranteed.
Another thing to note is that BCR is a market maker. Legal documents inform that BCR acts as the counterparty to every transaction and is acting in the capacity of principal with respect to the client’s transaction. For every transaction BCR may choose to hedge the trade immediately with a liquidity provider or BCR may choose to take the other side of this trade. As a result, BCR’s interest may conflict with the client’s interest and clients should be aware that BCR may generate more revenue if the market goes against the client. The next important thing is that there is no negative balance protection incorporated and you can lose more than your initial capital investment. The information explains that a negative balance may occur when a price gap occurs before a stop out is executed and BCR reserves the right to pursue these negative balances.
Customers will get full access to company educational tools such as e-books, video tutorials, market outlooks and webinars.
We can say BCR is a typical offshore company that offers the popular MetaTrader 4 terminal for trading. However, currently there is no strict regulation by any serious authority. The company acts as a market maker and does not offer negative balance protection. In addition, trading conditions are less competitive.