Spread and Commission
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.




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 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 offers variable and competitive spreads and commissions. To view BCR Spreads and Commissions, click Instruments below.
Margin and Leverage

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 Requirements (and the associated Margin Percentage) vary with each Product within the leverage restrictions imposed under the Product Intervention Instrument, and a list of the requirements is set out on the Trading Platform. These may change regularly.


At BCR, the margin requirement (per lot) is either represented as a floating amount or a percentage.

For example, using 200:1 leverage, if the price of EURUSD is 1.18992, and a client opens 1 lot of EURUSD (1 lot = 100,000 Units of the base currency), then the margin requirement is $594.96 (1.18992 * 100,000 / 200).

The margin requirement for US stocks is a fixed percentage (10%). If the price of Apple Inc. stock (#AAPL) is $174.54 per share, and a client trades 0.5 lot (1 lot = 100 contracts = 100 shares), then the margin requirement is $872.70 (0.5 * 100 * 174.54 * 10%).

As you can see in the above example, the margin requirement to open a position can be dynamic if it is represented as a percentage.


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.

Please review our Contract Specifications for our latest Leverage Settings.

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. The margin requirement for holding hedged positions is 0.

The trading platform will automatically begin to liquidate open orders when the client's Total Equity balance falls below 50% of the Initial Margin Requirement. The trading platform will liquidate individual positions until the remaining Client Total Equity is sufficient to support existing open position(s). In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation.

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.

It is strongly advised that clients always maintain the appropriate amount of margin in their accounts.


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


Swap-Free Accounts incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee that is deducted from the balance of the account.

If a Swap-Free Account holds positions after the end of the trading day, nominally 22:00 GMT (+1), then a fee will be deducted from the balance of the account. Please note, some products may be subject to adjustment fees without notice.

Symbol Charge Symbol Charge
EURUSD $5 per lot USDCNH $5 per lot
USDJPY $5 per lot USDMXN $20 per lot
AUDUSD $5 per lot USDNOK $5 per lot
GBPUSD $5 per lot USDSEK $5 per lot
NZDUSD $5 per lot USDTRY $20 per lot
USDCAD $5 per lot USDZAR $20 per lot
USDCHF $5 per lot EURNOK $5 per lot
EURCHF $5 per lot EURSEK $5 per lot
EURGBP $5 per lot EURTRY $20 per lot
EURJPY $5 per lot XAUUSD $5 per lot
CADJPY $5 per lot XAGUSD $5 per lot
AUDNZD $5 per lot XTIUSD $40 per lot
AUDJPY $5 per lot XNGUSD $5 per lot
GBPCHF $5 per lot #AUS200 $5 per lot
GBPJPY $5 per lot #GER30 $5 per lot
CADCHF $5 per lot #EUSTX50 $5 per lot
GBPAUD $5 per lot #FRA40 $5 per lot
CHFJPY $5 per lot #ESP35 $5 per lot
AUDCAD $5 per lot #UK100 $5 per lot
EURAUD $5 per lot #CHN50 $5 per lot
EURCAD $5 per lot #HKG50 $5 per lot
NZDJPY $5 per lot #JPN225 $5 per lot
AUDCHF $5 per lot #US500 $5 per lot
NZDCHF $5 per lot #US30 $5 per lot
GBPNZD $5 per lot #US100 $5 per lot
GBPCAD $5 per lot Bitcoin $5 per lot
NZDCAD $5 per lot Ethereum $5 per lot
EURNZD $5 per lot Share $5 per lot

Please note that the administration fee charged on Friday after market close will be tripled to account for the weekend.

BCR reserves the rights to request additional documentation in order to offer swap free privilege to an account.

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.


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.

Trading Rules

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.


All Stop 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: Exclude Stop Loss and Take Profit of existing positions.


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.


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. 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.


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.


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.


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.


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.


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 Account Max Leverage
50,000 or above 1:200
100,000 or above 1:100
200,000 or above 1:50
300,000 or above 1:25
500,000 or above 1:20
1,000,000 or above 1:10

The leverage will be automatically adjusted according to the above conditions. The leverage will be restored to the default level if there are no open position. 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. The leverage will be restored to the default level if there are no open position. 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