BCS Forex
Saxo Markets
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Overview
BCS Forex was founded in 2016 and is headquartered in Cyprus, while Saxo Markets was established in 2012 and is based in Denmark. BCS Forex holds licences including Cyprus Securities and Exchange Commission (CySEC), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. BCS Forex serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $100 at BCS Forex and $6500 at Saxo Markets.
| Feature | BCS Forex | Saxo Markets |
|---|---|---|
| Min. Deposit | $100 | $6500 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) |
| Founded | 2016 | 2012 |
| Country | Cyprus | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between BCS Forex and Saxo Markets, directly affecting your bottom line as a trader. BCS Forex has a lower barrier to entry with a minimum deposit of $100 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, BCS Forex scores higher on fees in our assessment.
| Feature | BCS Forex | Saxo Markets |
|---|---|---|
| Min. Deposit | $100 | $6500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
BCS Forex offers MT4, MT5, cTrader, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Saxo Markets supports social and copy trading features, which BCS Forex does not offer. The two brokers are closely matched on platform offering.
| Feature | BCS Forex | Saxo Markets |
|---|---|---|
| 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 | Mac, Web Trader, 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 Saxo Markets compare. BCS Forex runs regular live webinars; Saxo Markets does not. Both provide video tutorials. BCS Forex publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. BCS Forex maintains an archive of past webinars for on-demand viewing. BCS Forex scores higher overall in education and research.
| Feature | BCS Forex | Saxo Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| 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 Saxo Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | BCS Forex | Saxo Markets |
|---|---|---|
| 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 Saxo Markets 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 | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |