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Frequently asked questions

4. Trading terms and transactions

Question 4.1
What are your minimum requirements for the deposit, spreads and swaps?

BCS-Cyprus’s basic requirements are as follows: the minimum deposit is US$1,000; the minimum spread is 2 pips; the leverage is up to 1:100; the minimum lot is 0.1, or 10,000 units of the base currency. For a detailed description, please see the section ‘Trading terms’.

Question 4.2
In which cases and how much can you change the spread size?

The declared spread size is used in normal market conditions. BCS retains the right to widen the spread by several pips in case of heightened market volatility, e.g. intense news flow or global tensions that may affect the forex market. Market participants are strongly recommended to refrain from executing transactions during such periods.

Question 4.3
How does BCS-Cyprus submit quotations, execute orders and resolve controversies?

The detailed description of procedures to be followed when submitting orders and getting them executed, opening and closing forex accounts, using margin trading, withdrawing orders and having controversies resolved is presented in the ‘Treading Rules and Regulations’, which is an integral part of the ‘Agreement on Provision of Services on Forex Market’. The ‘Trading Rules and Regulations’ must be strictly followed by both retail and corporate clients who entered into an agreement with BCS-Cyprus.

Question 4.4
Does BCS-Cyprus provide certified paper-based performance reports?

Yes, BCS-Cyprus provides certified paper-based performance reports, upon a client’s request.