Spread and Commission
BID / ASK PRICE
A currency exchange rate is typically given the Bid Price/ Ask Price. The Ask Price (or Buy Price) is the price at which clients can buy an instrument. The Bid Price (or Sell Price) is the price at which clients can sell an instrument. The Bid Price is always lower than the Ask Price.
Spread

Spread

0.00002

1.14347/1.14345

The Spread is the difference between Bid Price and Ask Price quoted for an instrument.

In the example above, the spread is 0.00002 (1.14347 – 1.14345).

The spread is one of the key costs involved in CFD trading. Tighter spread will always give investors better value.

COMMISSION
Commission is another potential cost that clients should consider. A fixed amount of commission will be charged to your account upon execution of any order for some instruments on our platform.
BCR SPREADS AND COMMISSIONS
BCR offers variable and competitive spreads and commissions. To view BCR Spreads and Commissions, click Instruments below.
Related Reading: Product Guide download
Margin and Leverage
ABOUT MARGIN

CFD trading using margin allows you to open a position by only depositing a percentage of the full value of the position. Margin is used to cover any credit risks that arise during your trading.

Please beware that profits and losses are relative to the full value of your position. This means that you could lose more than what you deposit for margin.

MARGIN PERCENTAGE

At BCR, margins (per lot) for most instruments are a fixed amount. But for some instruments, margins are represented as a percentage.

For example, under 200:1 leverage, margin for EURUSD is a fixed amount (500 USD per lot). And margin for US stocks are a fixed percentage (10%). If the price of Apple Inc. (#AAPL) is $174.54, and a client trades 50 lots (1 lot = 1 contract = 1 share) #AAPL, then the margin would be $872.7 (50 * 1 * 174.54). It can be seen that margin is dynamic if it is represented as a percentage.

LEVERAGE

Leverage is another expression of margin percentage.

Leverage = 1 / Margin Percentage

For example, the margin requirement for #AAPL is 10%. It means that Leverage for #AAPL is 1:10.

At BCR, clients have the flexibility to choose leverage from 1:20 to 1:400.

HEDGING
Hedging is taking on both Long and Short positions of the same size in the same product simultaneously in order to reduce the risk in an adverse market. This involves opening a position in the opposite direction of the same size as the initial opened position. Hedging will reduce the initial margin to ¼ of the original amount.
LIQUIDATION / STOP-OUT LEVEL

The trading platform will automatically liquidate all opened orders when client's Total Equity balance falls below 50 % of the Initial Margin Requirement (If a Client’s Total Equity balance is greater than $100,000, then the Stop-out level will be adjusted to 100%). Stop Loss orders may not be honored at the price requested by the Client . It is possible that the market may "skip" the Stop Loss order price due to a significant market event.

Similarly, the margin in your trading account needs to be more than 50% for open positions in order to be able to open new trades, unless the new trades will result in current positions being partially or fully hedged.

BCR provides different margin and leverage for different instruments. To view BCR Margin Requirement, click on the Instruments below.

Related Reading: Product Guide download
Swap
SWAP RATE

The Swap is the interest paid or earned for holding a position overnight. Each CFD has an interest rate associated with it, and every trade involves two different interest rates. The Swap can add a significant extra cost or profit to your trade. The trading platform automatically calculates Swaps for you.

22:00 GMT(+1) is considered to be the beginning and the end of a trading day. Any positions which are still open at 22:00 GMT(+1) are subject to rollover. Rollover is the process of the settlement of an open position overnight.

There is no settlement on Saturdays and Sundays when the markets are closed, but banks still calculate interest on any position held over the weekend. For this reason, a 3-day swap applies on Wednesdays.

BCR SWAP RATE

BCR offers a transparent Swap Rate based on current interest rate. To view BCR Swap Rates, please log in to your MT4 account.

Related Reading: Product Guide download
Trading Hours
ABOUT TRADING HOURS

Instruments are only tradable during their open trading hours. Click on the Instruments below to see their respective trading hours. Please note that BCR server time and charts are set to GMT + 0.

CHANGES ON TRADING HOURS

Trading hours may vary due to shifts in Standard Time and Daylight Saving Time in different time zones.

Also, please note that trading is closed on our trading platform when world financial markets are closed due to holidays. We aim to inform our clients as soon as possible of upcoming changes in trading hours. Please check our notifications for up-to-date information.

Related Reading: Product Guide download
Trading Rules
LIMIT ORDERS / STOP GAIN / STOP LOSS

When there is a price gap during volatile market conditions, pending orders may be cancelled if the current market price reaches the designated order price but the trading account has insufficient margin to open a new position.

PENDING ORDERS ON WEEKEND (FRIDAY) OR HOLIDAYS

All Limit orders (pending) will be automatically cancelled after market close on Friday or early market closures on holidays. If necessary, clients can place a new pending order after the market reopens.

Note: All pending orders include Limit orders and Stop orders and exclude Stop Loss and Take Profit of existing positions.

PENDING ORDERS ON MARKET CLOSING AND REOPENING

Upon the market re-opening on Monday or after a Holiday, the price may have gapped. Take Profit Orders/Stop Loss Orders are not guaranteed to be executed at the prices set by the clients. They will be honored at the executable price after the market opens.

LIQUIDATION

BCR' s trading platform will automatically liquidate all opened orders when client 's Total Equity balance falls below 50% of the Initial Margin Requirement for the open positions (If a Client’s Total Equity balance is greater than $100,000, then the Stop-out level will be adjusted to 100%). Derivative Markets can be volatile, and Clients should be aware that prices on CFD instruments may fluctuate rapidly over wide ranges. Prices depend on a number of factors, including interest rates, supply and demand, and government actions. Clients should keep in mind that during such volatile market conditions Stop Loss orders may not be honored at the price requested by the Client. Due to a significant market event, the Stop Loss order may be executed at a price close to the client’s requested price.

TELEPHONE TRANSACTIONS

To ensure quality service, when a Client's local internet, personal computer, or electronic trading platform fail to function properly, telephone transactions can be placed. Client account numbers and phone passwords are needed to perform telephone transactions. Phone passwords are provided for trading accounts upon opening.

Note: Telephone transactions are for trading purposes only. No financial advice will be provided.

STATEMENTS

Daily and monthly statements may be printed from the trading platform for reference. It is very important to check the content of the reports in detail and notify BCR within 2 business days if there are any errors and/or discrepancies on the report. After 2 business days, any corrections and/or adjustments to any errors or discrepancies will be made solely at the discretion of BCR.

MAXIMUM LOT SIZE PER TRADE

Clients can have up to 200 trades open or pending at any one point in time for live accounts. Demo accounts are capped at 50 trades open or pending at any one time.

DEMO ACCOUNTS

Our demo account aims to mimic a live account and allows you to test our platforms and trading conditions, but due to execution differences, the exact same trade outcomes may not occur at all times. The difference is that you can have up to 200 live account trades open or pending at any one point in time, whereas demo accounts are limited to 50 open or pending trades at any one time.

CHANGES TO TRADING RULES

BCR reserves the right to make any changes to the trading rules. Changes in Margin Requirements will be announced on BCR’s website and will take effect immediately.

ACCOUNT EQUITY

If the Client’s equity is over $100,000, the account’s maximum leverage will be 1:100:

ACCOUNT EQUITY Account Max Leverage
100,001 or above 1:100

The leverage will be automatically adjusted according to the above conditions. BCR will not be responsible if the account’s positions are automatically closed via Margin Call closed due to the above adjustment.

Margin use is subject to the following terms:

Used margin Account Max Leverage
50,001 - 200,000 1:100
200,001 or above 1:50

The leverage will be automatically adjusted according to the above conditions. BCR will not be responsible if the account’s positions are automatically closed via Margin Call closed due to the above adjustment.

Related Reading: Glossary