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FXCC Review 2023

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Our Rating

4.5 / 5

FXCC is #20 in our CFD broker rankings.

Customer Reviews (1)

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Regulation & Trust

Accounts & Banking

Assets & Markets

Fees & Costs

Platforms & Tools

Customer Support

FXCC is a good option for day traders looking for wide market access with high leverage up to 1:500 and access to the reliable MetaTrader 4 charting platform. Beginners can get started in minutes with $0 minimum deposit and low trading fees.

- Daytrading Review Team

FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis.

Minimum Deposit $0

Trading Platforms MT4

Instruments CFDs, Forex, Indices, Commodities, Crypto

Bonus Offer 100% First Deposit Bonus Up To $2000

Account Currencies USD, EUR, GBP

Payment Options Neteller, Bitcoin Payments, Credit Card, Debit Card, Wire Transfer
and 10 more

All FXCC Details

Compare FXCC

Forex Trading

FXCC offers leading fees compared to alternatives with spreads as low as 0.0 pips and $0 commission. Over 70 currency pairs are also available, providing more opportunities than most competitors.

Stock Trading

Trade a dozen major indices, including the Dow Jones, NASDAQ, S&P and DAX. Prices are competitive with zero commissions and a minimum price fluctuation of 0.01.

CFD Trading

Trade currencies, metals, energies, indices and cryptos with flexible leverage. 24/5 customer support is available to assist new clients while the MT4 platform comes with free tutorials and user guides.

Crypto Trading

Trade eight of the most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. High leverage up to 1:10 is available on BTC and 1:5 on other cryptos.

Awards

• Best STP Broker 2019 - World Finance Magazine Awards
• Best Trading Account (XL Account) 2019 - World Finance Magazine Awards
• Best Trading Account (XL Account) Europe 2018 - Global Banking & Finance Awards
• Best STP Broker Europe 2018 - Global Banking & Finance Awards
• Best Trading Account (XL Account) 2018 - JFEX Awards
• Best MT4 Broker 2018 - JFEX Awards
• Best Islamic Forex Broker (XL Account) 2018 - MENA Forex Show Awards
• Best STP/ECN Forex Broker 2018 - MENA Forex Show Awards
• Best Forex Trading Account 2017 - UK Forex Awards

✓ Pros

• The 'Trader's Corner' Blog and other free educational resources will suit newer day traders
• There are no deposit fees except industry-standard mining charges on cryptos
• There are no restrictions on short-term strategies including scalping and hedging
• Competitive ECN spreads are available from 0.0 pips with no commission
• The broker is trusted and licensed by the CySEC, a top-tier European regulator
• Automated trading via MT4's Expert Advisors (EAs) are supported
• There's a 100% first deposit bonus for new clients

✗ Cons

• It's a shame that a copy trading solution is not offered for beginners or strategy providers
• The broker's single platform with no additional forex analysis tools is a drawback compared to many alternatives
• FXCC's selection of day trading markets is smaller than other brands, with no share CFDs on offer

FXCC offers trading on forex, indices, cryptos, energies and metals on the trusted MetaTrader 4 (MT4) platform. In this 2023 broker review, we log in to the Traders Hub to explore minimum deposits, regulations, leverage and demo accounts. Read on for the pros and cons of signing up for an FXCC trading account.

FXCC Headlines

FXCC is a brand name of FX Central Clearing Ltd, a forex and CFD broker headquartered in Saint Vincent and the Grenadines. The company was founded in 2010 and has since established itself as a strong competitor in the industry, holding a license with the CySEC and following the requirements laid out in MiFID.

FXCC follows an ECN/STP model, offering competitive trade execution and prices, with no intervention or re-quotes. Clients can trade on forex, cryptocurrencies, indices, metals and precious metals on the popular MT4 terminal.

Trading Platform

FXCC offers MT4 to all clients, which is available on multiple devices as well as major web browsers, though not on Mac.

The platform, which is free to download, is packed with advanced trading features, including a built-in library of over 50 indicators for technical analysis. There is also access to market, pending and stop orders, plus embedded tick charts for accurate analysis. In addition, you can program your own automated trading robots using MetaTrader’s programmable language, MQL4.

A Multi Terminal option is available for investors who wish to manage multiple accounts on the same platform. Clients can hedge, scalp and simultaneously trade on an unlimited number of accounts.

For professional traders, MAM (Multi Account Manager) software is available as part of the MT4 platform. This service is ideal for investors who trade on their clients’ behalf. The MAM package has a variety of features including five lot allocations, Expert Advisors, unlimited accounts, plus STP on the master account for bulk order execution.

The platform is available to download on Windows PCs. Alternatively, iOS clients can use the app on their phones or tablets.

Assets & Markets

FXCC offers 70+ currencies including major USD pairs, minors and exotics. The minimum price fluctuation when trading forex is 0.00001. The spot metals selection is made up of gold, silver, platinum and palladium. US and UK crude oil are also available.

Eight cryptocurrencies are provided, including Bitcoin (BTC), Ethereum (ETH), and Monero (XMR). The minimum contract size is 1 of the respective token, for example, 1 BTC.

In addition, 12 indices are available to live account holders. This includes trading opportunities on the Dow Jones and NASDAQ in the US, the FTSE in the UK, plus the CAC in France.

There is no trading on individual shares.

Spreads & Commissions

Live spreads average at 0.2 pips for EUR/USD and around 1.0 pip for GBP/USD. FXCC has a webpage with a 15 minute average spread chart for major instruments, including spot gold and silver.

Importantly, all instruments benefit from zero commissions. This makes FXCC a low-cost trading brokerage when compared to alternatives.

Clients will also need to pay rollover fees as well as a $5 dormancy charge on accounts that have been inactive for 120 days.

Leverage

Leverage is available between 1:1 and 1:500 for non-EU clients. Forex, metals, energies and indices can be traded with rates of up to 1:500, while cryptos are capped at 1:10, with the exception of Bitcoin at 1:10.

There is also a margin calculator that is free once you have registered in the Traders Hub.

Mobile App

The MT4 mobile app allows you to connect to your investing account from anywhere. The state-of-the-art platform receives good feedback and reviews online for its easy-to-use interface and reliability.

The application includes 30 technical indicators, 9 timeframes and a live stream of market prices. It also comes with an economic news feed and complete trading history. In addition, traders can make deposits and withdrawals through the mobile app.

You can download the MT4 app onto iPhone/iPad or Android devices and begin trading straight away using your login credentials.

FXCC Deposits & Withdrawals

There are plenty of funding methods available at FXCC, including bank cards, wire transfers, e-wallets such as Skrill and Neteller, plus alternative online payment methods like Rapid Transfer.

Accepted currencies include USD, EUR and GBP. Most deposits are processed within one hour. However, the majority of withdrawals take up to give working days to clear, apart from Skrill and Neteller which are processed in real-time.

Crypto payments are also accepted in several major coins such as BTC, ETH and USDT. Both deposits and withdrawals take up to 15 minutes.

There are no charges for making a deposit except for mining fees if you top up using crypto. However, there are fees on withdrawals for bank wires, cryptos and e-wallets. The broker’s website contains a full breakdown.

Demo Account

Investors 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 and provides access to the MetaTrader 4 platform download and mobile app. Prospective investors can sign up for a paper trading account in a few simple steps.

Bonuses & Promotions

The current 100% First Deposit Bonus (up to $2000) promotion for non-EU clients doubles account equity with the first deposit. In order to qualify, you must open an ECN XL account.

For clients who maintain a minimum balance of $2500 and trading volume above 30 standard lots monthly, the broker provides free VPS access. This service offers improved security, speed and accessibility.

Regulation & Licensing

FX Central Clearing Ltd (FXCC) is authorized as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 121/10. The broker is also registered in Saint Vincent and the Grenadine as an investment company.

As a regulated entity in the EU, FXCC follows the Markets in Financial Instruments Directive (MiFID) which oversees investment services across the European Economic Area.

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.

Additional Features

Our review was impressed with the comprehensive forex research and technical analysis insights within the blog section. There is an education center full of practical guidance on economic indicators, margin, slippage and more.

A selection of free downloadable e-books and PDFs is also provided. Beginners can benefit from the step-by-step guides on forex trading basics.

Other helpful features include a glossary of terms, an economic calendar and forex news.

Account Types

The broker has two account types: ECN XL and ECN Promo.

The ECN XL account has spreads as low as 0.0 pips and $0 trading commissions. ECN XL allows hedging, scalping and provides VPS usage. The minimum trade size is 0.01 lots and the account offers free funding and support for Expert Advisors (EAs). Non-EU clients also benefit from leverage up to 1:500. Islamic-friendly trading conditions are available upon request.

The ECN Promo account is not yet live. The new account will provide additional flexibility and enhanced trading conditions for qualifying investors.

Note, corporate accounts are also available on request.

Trading Hours

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. Alternatively, the broker breaks down holiday hours and public closures on its website.

Customer Support

FXCC offers 24/5 multilingual customer support via telephone, email or live chat. The latter can be accessed by clicking on the chat logo in the bottom right-hand corner of the website.

• Email – support@fxcc.net
• Contact number – +44 203 150 0832
• Address – Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines

The chat team can help with withdrawal problems, account types, registration queries and more.

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 help keep scammers at bay.

MetaTrader 4 also provides two-factor authentication. This will send a unique passcode via email or telephone to validate a user’s login credentials.

FXCC Verdict

FXCC is a low-cost online broker for trading forex, cryptocurrencies, metals, indices and commodities on the MT4 platform. The award-winning XL account comes with a no minimum deposit requirement and ECN pricing. Regulatory oversight from the CySEC is also a bonus. Create an account using the link below to claim your welcome offer today.

FAQ

Is FXCC A Good Broker?

FXCC is a good all-around broker, offering competitive ECN pricing with no commissions. The brand is regulated by the CySEC and provides access to one of the most popular trading platforms, MetaTrader 4 (MT4).

Is FXCC A Scam?

FXCC is a trustworthy and legitimate broker regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most reputable financial regulators. In the European Economic Area (EEA), the broker follows the guidelines laid down by the Markets in Financial Instruments Directive (MiFID). It is unlikely that scams or fraudulent firms are operating under the company’s name.

Does FXCC Offer A No Deposit Bonus?

The firm previously to offer a $50 start-up capital bonus, but this promotion has now expired. However, non-EU clients can take advantage of the current offer: 100% First Deposit Bonus up to $2000.

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. Follow the sign-up link below to get started today.

How Do I Contact FXCC Customer Support?

If you need help with your account or encounter any deposit or withdrawal problems, you can contact the team 24/5 via telephone, email or live chat. Multilingual support is provided for international clients, including for traders from Indonesia.

Accepted Countries

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.

Payment Methods

• Skrill
• Neteller
• Rapid Transfer
• Sofort
• Paysafecard
• Visa
• Bitcoin Payments
• Credit Card
• Debit Card
• Mastercard
• Wire Transfer
• UnionPay
• Ethereum Payments
• Netbanx Asia
• Boleto

Top 3 Alternatives to FXCC

Compare FXCC with the top 3 similar brokers that accept traders from your location.

1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
   Go to IG Group
2. Kwakol Markets – Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of day trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
   Go to Kwakol Markets
3. Interactive Brokers – Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
   Go to Interactive Brokers

FXCC Comparison Table

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FXCC vs Other Brokers

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	Visit	FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis.
FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis.