AvaTrade is an online trading and investing platform that gives you access to foreign currencies, CFDs (contracts for difference), and cryptocurrency trading through its mobile, web, and desktop trading platforms.
BCS Forex was founded in December of 2004. The project presumed wide range of professional services to provide access to online trading in the international Forex market. BCS Forex clients have access to trading with the most marketable financial instruments (currencies, stock assets and indices) using a single trading account.
|#||Broker's Features||BCS FOREX Availability||AVATRADE Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||❌||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare BCS Forex vs Avatrade.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. BCS Forex offers Online Financial Trading and Investment Services Such as CFD (US Stocks, RU Stocks, Indexes, Energy), CRYPT, while Avatrade offers Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures, ETFs.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. BCS Forex is Broker, while Avatrade is Dealing Desk, Market Maker.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. BCS Forex recommended minimum capital is N/A, while Avatrade has a Minimum Deposit Requirement of .
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. BCS Forex is regulated by N/A, while Avatrade regulated by ASIC, BVI, CBI, FSCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. BCS Forex offers USD, EUR, RUB different account currencies for each account types, while Avatrade offers USD, EUR, GBP, CHF, AUD account currencies.
Languages Available: Next lets have a look at each broker's different Language options. BCS Forex offers English, Russian, while Avatrade offers English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese, Dutch Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. BCS Forex offers Plastic cards, Bank transfers, Electronic wallets different payment methods for each account types, while Avatrade offers Credit/Debit Cards, Bank Transfer, PayPal, Skrill, Payoneer, Neteller payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, BCS Forex makes MT4, MT5 available to clients, while Avatrade offers ActTrader, MT4, MT5, Proprietary, Zulutrade.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Avatrade is more reliable based on our criteria above. Avatrade has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Avatrade broker is regulated in more major hubs. Avatrade offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Avatrade offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Avatrade has a wider range of languages in which customer service is offered making the broker more accessible. As a market maker, Avatrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
AvaTrade has low trading fees. The account opening is user-friendly and fast. It offers a lot of deposit and withdrawals options and they are free of charge.
The product portfolio is limited as it offers only CFDs, forex, and cryptos. The research tools are limited as there are no trading ideas, fundamental data, or news. The telephone support is bad as they don't pick up the phone.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.