BCS Forex
Interactive Brokers
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
BCS Forex was founded in 2016 and is headquartered in Cyprus, while Interactive Brokers was established in 1977 and is based in United States. BCS Forex holds licences including Cyprus Securities and Exchange Commission (CySEC), while Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX among others. BCS Forex serves 10,000+ clients worldwide; Interactive Brokers has 1,000,000+. The minimum deposit is $100 at BCS Forex and $1 at Interactive Brokers.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). |
| Founded | 2016 | 1977 |
| Country | Cyprus | United States |
| Clients | 10,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between BCS Forex and Interactive Brokers, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $100 at BCS Forex). Both brokers charge withdrawal fees. BCS Forex applies inactivity fees on dormant accounts; Interactive Brokers does not. Overall, Interactive Brokers scores higher on fees in our assessment.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
BCS Forex offers MT4, MT5, cTrader, while Interactive Brokers supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Interactive Brokers supports social and copy trading features, which BCS Forex does not offer. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,Desktop,iPhone/iOS | Web Trader, NinjaTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how BCS Forex and Interactive Brokers compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. BCS Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Interactive Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both BCS Forex and Interactive Brokers offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | BCS Forex | Interactive Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |