FXCC (FX Central Clearing) is a brokerage firm, providing brokerage services, that aims to help forex exchange market professionals to trade in cryptocurrencies, currencies, indices, and metals through the latest technology, serving as a forex trading tool. FXCC is a prominent competitor in the trading industry due to its reliability and relative ease to use, while also having licenses from both CySEC and FCA.
By following an ECN/STP model, FXCC can offer competitive execution and prices without interventions or re-quoting, while, also having a choice between three types of accounts so that their clients can trade on indices, precious metals, and forex on one of the most popular terminal and trusted platform known as MetaTrader4 (MT4), which is available online for download or to be used as a web solution.
FXCC prides itself on the fact that it is fully transparent while also providing the lowest spreads available, ECN accounts that are catered to various trades, and the latest technology. FXCC is on the road to becoming a popular Trading Platform. This FXCC review aims to review the markets, leverage, commissions, trading platforms, Range of products, and Educational tools offered at FXCC. This FXCC review also mentions the regulatory bodies FXCC works under, the bonuses offered on the platform, spreads, and helps you decide whether it is a good broker or not.
FXCC also offers a wide range of currencies pairs (around 72) including major USD pairs, cryptocurrencies (Bitcoin, Ethereum), 12 indices (UK, European), WTI, Metals (Gold, Silver, Platinum, Palladium), and Energies (Brent cash, West Texas crude oil, natural gas).
FXCC also offers traders tight spreads that start from 0.1 pips on every account, while live spreads average near 0.3 pips for GBP/USD and around 0.2 pips for EUR/USD. There is a web page available on FXCC that has 15 minutes average spread charts for important instruments, including spot gold, which helps the clients get a crystal clear picture with regards to spreads.
FXCC offers zero commissions on all the available tools or instruments. There are rollover fees and a $5 dormant fee on all the accounts that have been inactive for 120 days.
The leverage rates that are available on FXCC are anywhere between 1:1 and 1:500. A margin calculator is also accessible for use when the client has registered into the Trader's Hub.
The maximum trading leverage offered at FXCC is around 1:500, and there is a swap-free account (Islamic account) with no swap which is dependent upon the investor's needs. In addition, there are a few requirements for corporate clients that include: A Questionnaire designed by the broker, a sample client signature, a board resolution for the user to open an account, and a corporate authorization letter.
The Metatrader 4 mobile app (FXCC MT4) provides a way for the client to connect to their account from anywhere with relative ease. The state-of-the-art platform has received great feedback and reviews from its users due to its easy-to-learn interface and its reliability.
The app includes around 30 technical indicators, a live stream of up-to-date market prices, and several time frames.it also provides the complete trading history and also comes with an economic news feed. Everyone around the globe can download the app on iPhone/iPad or Android devices with relative ease and can start trading right away by providing your login credentials.
FXCC provides a plethora of funding methods, which includes bank wire transfer, bank cards like credit and debit cards, e-wallets such as Neteller and Skrill, additionally it also provides an alternative online payment method like Rapid Transfer.
The currencies that are accepted by FXCC include EUR, GBP, and USD, and almost all the deposits are processed within an hour. Apart from Skrill and Neteller, due to being processed in real-time, Most of the withdrawals can take 5 working days to be cleared, and to make a deposit no fee is charged but there are fees placed on withdrawals for bank wires, Neteller and Skrill.
To help clients who want to get involved in trading but are unsure due to the risk of losing money, a demo account or practice account was launched for FXCC in which Traders can decide on a risk-free month-long (30 days) demo account to practice and grow their trading skills and try to implement new strategies before trading or committing real money.
Every practice account has been loaded with around $10,000 in virtual funds and anyone from anywhere can easily sign up in a few easy-to-follow steps. We can also convert our demo account to a live account.
The process for signing up for the demo account is fully digital and the process is quick, easy, and hassle-free. All in all the demo account is available for beginners to get some trading experience without any real risk.
By opting for the First Deposit Bonus promotion, non-EU traders can essentially increase their equity two times the initial amount with their first deposit. The said bonus functions on the foundation of MT4 credit functionality, and in case the account reaches the margin level, credit eventually goes out.
The result is that the bonus funds cannot be used whatsoever to cover the losses but they increase the leverage around 1:1000 for all the available instruments.
Licensed under the number 121/10, FXCC is authorized by Cyprus Investment Firm, also known as CIF, and is regulated by Cyprus Securities and Exchange Commission (CySEC).
FXCC is a market member in the MiFID (Markets in Financial Instruments Directive), which is the regulator of the investment services all-around the European Economic Area meaning that FXCC is registered in different participating jurisdictions, which include FCA in the UK (United Kingdom).
Being a member of ICF(Investor Compensation Fund), FXCC provides its users the security, in case of liquidation of the platform.
Many clients are impressed with the technical analysis and the comprehensive forex research that is present in the blog section. There is an additional feature of an education center that is filled with practical guidance on margin, slippage, economic indicators, and more educational tools, while also offering several free downloadable e-books. There is also a step-by-step guide about forex trading basics available for the benefit of beginners in the trading business. In addition, FXCC offers its users a "stop-loss" feature, that helps them set a limit to their losses but does not cancel them.
There are also several trading tools and trading instruments available to help clients in their trading strategies.
there are two types of accounts that FXCC offers both being FXCC ECN accounts:
This type of account offers the trading platform of MT4, spreads floating from around 0.0 pips, no trading commission, and no minimum deposit, a minimum lot size of 0.1 lot, maximum leverage of 1:500, a loyalty program that offers a 100% bonus on the first deposit and negative balance protection. The available base currency is USD, EUR, GBP. The funding fee is waived and this account has a stop-out level of 50% and the available markets are FOREX, METALS, ENERGIES, INDICES. it also allows EAs, Scalping, News Trading and by request, the clients can get a Swap-Free Islamic account for Muslim forex traders.
This type of account is going to be available to the clients soon.
There are several benefits clients can get by using FXCC and these benefits are one of the reasons why FXCC is a prominent competitor in the broker market, some of the benefits are:
There are a few drawbacks or limitations of FXCC, some of which are:
The clients can find trading sessions that are specific for every instrument within the trading platforms of MT4. Trading hours are live Sunday till Friday, and the operating time starts from 17:05 to 16:55 EST.
With dedicated and supportive account managers, and multilingual online service, FXCC provides its clients with excellent customer assistance. Being available for its customers 24 hours from Monday to Friday, FXCC makes trading easy for its users.
While assessing FXCC's customer services, this FXCC review took into account the options available for traders to contact FXCC's customer care. Following are some ways through which you can contact FXCC for help:
Along with using 128-bit encrypted connections to guarantee security overall trades across the MT4 platform, and offering negative balance protection, FXCC uses Secure Sockets Layer (SSL) which keeps clients' information protected. Repelling potential scammers through extended algorithms incorporating public-key cryptography.
In addition to being a member of the Markets in Financial Instruments Directive, FXCC's EU-based customers trade using FXCC's Forex Central Clearing Ltd entity which is regulated by the Cyprus Securities and Exchange Commission (CySEC), as well as being licensed under the CIF number 121/10.
Non-EU clients can trade using Central Clearing Ltd subsidiary of FXCC, under the registration number 14576, licensed by the Republic of Vanuatu.
While offering trading with no deposit fees or commission required, FXCC offers a spectrum of investor features. These include:
This FXCC review lists down some of the products offered on the platform. FXCC offers its users to trade Forex, indices, crypto, metals, or even energies.
Being the leading platform in the world of Forex, Metatrader 4 can also be used by traders at FXCC. Providing multiple useful tools, and a wide range of trading systems, FXCC users can use Metatrader 4 as FXCC's trading platform, to optimize their trading experience.
With a vast variety of Forex tools to choose from, FXCC offers its users an experience of its own, keeping users up to date regarding the market's conditions. Tools include; Forex calculators, Market hours, Trading positions, Interest rates, and Live quotes.
Over the top of FXCC's ECN XL trading account offers, FXCC also gives its users a deposit bonus as well as a VPN. Access to a reliable Virtual Private Server makes the user experience secure and fast and provides accessibility to clients all around the world.
After thorough research and first-hand experience, this FXCC review makes it clear that FXCC is the option for you if you are looking for a cheap yet safe platform for online trading. FXCC makes it easier for its users to trade entities ranging from metals, indices to forex or commodities. In addition to this, FXCC provides its clients with the best experience allowing them to trade with no minimum deposit and ECN pricing through the XL account.
FXCC provides its users a platform to trade all around the world. Among the Countries which are accepted by the platform, some are France, Norway, Hongkong, India, Canada, the United Kingdom, Thailand, Singapore, Denmark, Qatar, Italy, and United Arab Emirates. FXCC does not provide services to US-based traders
Popular for its no minimum deposit policy and zero commission fees, FXCC broker is a user favorite due to low charges. Spreads that start at 0.0 pips and such cost-saving features, attract users and take the user's experience to the next level.
Mentioned in decreasing order of similarity, here are some forex brokers that share similar attributes to FXCC:
Being heavily regulated by Cyprus Securities and Exchange, and Vanuatu-based authorities, FXCC is surely a safe forex broker. As the company is licensed by an EU member state, FXCC works under the Financial Instrument Directive. FXCC was established back in 2008, and being labeled as a regulated broker makes it a reliable broker for trading.
FXCC broker keeps all its users' money under a separate bank account. The banks used for uptight security at FXCC are Tier-1 banks. Tier 1 refers to a bank's stability and its financial security. FXCC, like other reliable brokers, uses Tier 1 banks with solid capital reserves and financial strength. A tier 1 bank secures the user's capital by making sure that they have the reserves to fulfill the user's withdrawal, irrespective of the company's, which in this case is FXCC, working status.
If you are a beginner forex trader, FXCC makes it easier to gain experience and learn trading. At FXCC, it is easier for you to learn and understand trading at the platform. FXCC broker offers a wide and effective range of educational resources for its users to under the platform a bit better, and engage in effective trading. Users can not just use the platform to learn about FXCC trading but can learn via other resources and video tutorials.
The forex broker offers multiple educational resources under the Education and Research Section on the website. These resources range from articles, up-to-date news, Blog posts by traders online, to e-books and guides, which help you understand trading conditions.
At the broker's website you can find the following educational tools:
Research is essential for online trading, especially if you are a beginner. To make good trading choices and gain confidence in them, as a trader you should have keen knowledge regarding the market and Forex trading. It surely makes a Forex broker more reliable when it offers research options for its users.
At FXCC you can find the following research instruments that will help you understand the market volatility a bit more:
At the end of this review and after thorough research and understanding of the Forex broker, FXCC, we have concluded that FXCC is one of the top forex brokers. Popular among many forex brokers, FXCC provides its users with a good opportunity to trade using the STP/ECN model. Unlike most other brokers, FXCC makes it easier for traders to start trading according to their requirements as FXCC offers a range of accounts, with each of them having different minimum deposit fees. Moreover, as FXCC is regulated under the Cyprus Securities and Exchange Commission (CySEC), it is a safe broker as Cyprus Securities and Exchange Commissions hold FXCC accountable in case of misgivings or disputes. This FXCC review touched upon different aspects of Forex trading and FXCC's forex trading platforms such as Metatrader 4, FXCC trading accounts, especially ECN, and much more. The broker offers multiple helpful education and research tools for beginners, making the user experience worthwhile.