FXCC Review and Tutorial 2021
United States not accepted.
Go to the Brokers List for alternatives
|FXCC Facts & Figures|
FXCC is a highly regulated and trustworthy MT4 trading broker.
• Best Forex Trading Account 2017 - UK Forex Awards
|Instruments||Forex, Indices, Metals, Energies,Crypto|
|Min. Deposit||No Minimum|
|Pay Methods||Bitcoin Payments, Neteller, Paysafecard, Rapid Transfer, Skrill, Sofort, Visa|
|Min. Trade||0.01 lots|
|Regulated By||CySEC, FCA|
|USD, EUR, GBP, JPY|
|Trade on a range of CFDs with competitive spreads and leverage.|
Trade with spreads as low as 0.0 pips. $0 Commission. 1:500 Leverage
FXCC offers trading on forex, indices, gold and silver on the trusted MetaTrader 4 platform, which is available to download or as a web solution. In this broker review, we log in to the Traders Hub to explore minimum deposits, regulations, leverage and demo accounts. Learn more about FXCC today.
FXCC is a brand name of FX Central Clearing Ltd, a forex and CFD broker headquartered in Cyprus. The company was founded in 2010 and has since established itself as a strong competitor in the industry, holding licenses with both the CySEC and FCA.
FXCC follows an ECN/STP model, offering competitive execution and prices, with no intervention or re-quotes. With a choice of three accounts, clients can trade on forex, indices and precious metals on the popular MT4 terminal.
FXCC offers MT4 to all clients, which is available on multiple devices as well as major web browsers.
The platform is packed with advanced trading features, including a built-in library of over 50 indicators for technical analysis. There’s also access to market, pending and stop orders, plus embedded tick charts for accurate analysis. You can also program your own automated trading robots, using MetaTrader’s programmable language, MQL4.
The platform is available to download on Windows PCs. Alternatively, you can access the platform straight from the Web Terminal, which is ideal for MacOS users.
FXCC offers 72 currency pairs including major USD pairs , Spot Metals, Cryptocurrencies, 12 Indices, WTI and Brent.
Spreads & Commissions
Live spreads average around 0.2 pips for EUR/USD and around 0.3 pips for GBP/USD.. FXCC has a webpage with 15 min average spread chart for major instruments, including Spot Gold, where you can see a clear picture regarding spreads
There is zero commissions on all instruments There are also rollover fees as well as a $5 dormant fee on accounts which have been inactive for 120 days.
Leverage is available between 1:1 and 1:500. There’s also a margin calculator which is accessible once you have registered in the Trader’s Hub.
The MT4 mobile app allows you to connect to your trading account from anywhere. The state-of-the-art platform receives good feedback and reviews online for its easy-to-use interface and reliability. The app includes 30 technical indicators, a number of timeframes and a live stream of market prices. It also comes with an economic news feed and complete trading history.
You can easily download the app onto iPhone/iPad or Android devices and begin trading straight away using your login credentials.
There’s plenty of funding methods available at FXCC, including bank cards, wire transfer, e-wallets such as Skrill and Neteller, plus alternative online payment methods, such as Rapid Transfer.
Accepted currencies include USD, EUR and GBP and most deposits are processed within one hour. The majority of withdrawals take up to 5 working days to clear, apart from Skrill and Neteller which are processed in real-time.
There are no fees for making a deposit. However there are fees on withdrawals for bank wires, Skrill and Neteller.
Traders can opt for a risk-free 30-day demo account to practice trading skills and test new strategies before committing real money. Each practice account is loaded with $10,000 in virtual funds and anyone can sign up in a few easy steps.
The current 100% First Deposit Bonus promotion for non-EU clients doubles account equity with the first deposit. This bonus is offered based on MT4 credit functionality and credit goes out as soon as an account reaches certain margin level.
As a result the bonus funds can not be used to cover losses but they increase the leverage up to 1:1000 for all instruments.
FX Central Clearing Ltd (FXCC) is authorised as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 121/10.
As a regulated entity in the EU, FXCC is a member of the Markets in Financial Instruments Directive (MiFID) which regulates investment services across the European Economic Area. This means that FXCC is also registered in other participating jurisdictions, including the FCA in the United Kingdom.
In addition, FXCC is a member of the Investor Compensation Fund (ICF) which insures clients in the event of insolvency. User funds are also segregated in separate bank accounts at leading international banks so your money is safe from scammers.
Our review was impressed with the comprehensive forex research and technical analysis within the blog section. There’s also an education centre full of practical guidance on economic indicators, margin, slippage and more, plus several free downloadable e-books. Beginners can also benefit from the step-by-step guides on forex trading basics.
There are two account types: ECN XL account with spreads as low as 0.0 pips and $0 trading commission; and ECN Promo account type, which is coming soon. There is no minimum deposit. Leverage up to 1:500 for non-EU clients. The minimum trade size in all accounts is 0.01 lots.
FXCC performs well in several areas:
- ECN spreads
- Traders Corner Blog
- Regulated by CySEC
- Zero commissions
- No deposit fees
Limitations of FXCC include:
- US not accepted
- No choice of platforms
FXCC’s daily operation time for trading is from 17:05 to 16:55 New York time (EST) from Sunday to Friday. You can find specific trading sessions for each instrument within the MT4 platform.
FXCC offers 24/5 multilingual customer support via telephone, email or live chat. The live chat service can be accessed by clicking on the chat logo in the bottom right-hand corner of the website.
- Email – email@example.com
- Contact number – +357 25 870750 or +357 25 025001
- Address – Amorosa Centre, 2nd Floor, 2 Samou Street, 4043 Yermasoyia, Limassol, Cyprus
The chat team can help with withdrawal problems, account types, registration queries and more.
Safety & Security
To ensure the security of all trades, the MT4 platform transmits data between servers using 128-bit encrypted connections. FXCC also offers extended security algorithms using public-key cryptography, which should keep scammers at bay.
FXCC is a good low cost broker for traders looking to trade forex, metals, indices and commodities on MT4 platform. The variety of platforms is currently limited. Nonetheless, the award-winning XL account with a reasonable no minimum deposit and ECN pricing might be enough to attract traders. Trustworthy and robust CySEC regulation is also a bonus.
FXCC accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FXCC from United States.
Alternatives to FXCC
If you are looking for alternatives to FXCC we have compiled a list of the top 5 brokers that are similar to FXCC below. This list of brokers like FXCC is in order of similarity and only includes companies that accept traders from your location.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
- Just2Trade – Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Is FXCC a good broker?
FXCC is a good all-round broker, offering competitive ECN pricing, with no commissions. FXCC is also regulated by CySEC and FCA and offers one of the most popular trading platforms, MT4.
Is FXCC a scam?
FXCC is a trustworthy and legitimate broker registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most reputable financial regulators. It is unlikely that scammers are operating under the company name.
Does FXCC offer a no deposit bonus?
How do I open an account with FXCC?
You will need to complete the online registration form before submitting your ID documents for verification. You will then be able to set up your login details and download the MT4 platform.
How do I contact customer support?
If you need help with your account or encounter any deposit or withdrawal problems, you can contact the customer support team 24/5 via telephone, email or live chat.
|FXCC is a highly regulated and trustworthy MT4 trading broker.|
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