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Frequently asked questions

1. BCS Cyprus
2. Signing an agreement and opening a forex account
3. Trade account: Cash transfers / withdrawals
4. Trading terms and transactions


2. Signing an agreement and opening a forex account


Question 2.1
How can a retail investor open a forex account to execute transactions on the forex market via BCS-Cyprus?


The detailed description of procedures to be followed when opening a forex account by a retail investor is available in the section ‘How to Open Live Account’.

If you need assistance in opening a forex account, filling in and sending out all the required documents, please feel free to contact BCS-Cyprus.


Question 2.2
Can a UK citizen open a forex trade account with BCS-Cyprus?


Yes, a citizen of any country can open a forex trade account with BCS-Cyprus.


Question 2.3
How can a legal entity open a forex account to execute transactions on the forex market via BCS-Cyprus?


The detailed description of procedures to be followed when opening a forex account by a corporate client is available in the section ‘How to Open Live Account’.


Question 2.4
How many forex trade accounts can I open with BCS-Cyprus?


You can open as many personal trade accounts as you like.


Question 2.5
Why doesn’t BCS-Cyprus provide an opportunity to open a forex account instantly, through an on-line form?


Because BCS-Cyprus adheres to the provisions of the Directive DI144-2007-08 of 2011 for the Prevention of Money Laundering and Terrorist Financing Activities as this has been issued by its Competent Authority, the Cyprus Securities and Exchange Commission and the Law for the Prevention and Suppression of Money Laundering Activities 188(I)/2007, consolidated with Law 58(I)/2010


Question 2.6
I already have an account, opened with BCS-Cyprus to trade in the futures and options market and in global markets. Can I use this account to trade on the forex market?


To execute transactions on the forex market, you need to open a separate forex trade account.