FXCC

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	Official Website
Leverage	1:500
Minimum Deposit	$100
Regulation	CySEC
Year Established	2010
Payment Methods	Bank Transfer, Credit/Debit Cards, Skrill, Neteller
Trading Assets	Forex, Indices, Commodities, Cryptocurrencies
MT4	✅
MT5	❌
Spreads	Very low
Average cost: EUR/USD	0.2 pips
Demo Account	✅
Islamic Account	✅
CopyTrading	❌
ZuluTrade	❌
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	❌
Contact Information	Email: [email protected], Phone: +44 203 150 0838
Address	FXCC, 10 Pavlou Nirvana Street, Limassol, 3021, Cyprus
Rating	★★★★☆ 4.6
Website	Official Website

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Pros and Cons

Introduction

FXCC (Forex Central Clearing Ltd) is an online forex and CFD broker established in 2010, regulated by the Cyprus Securities and Exchange Commission (CySEC).

Over the years, the company has built a reputation for offering competitive trading conditions, many account types, and robust customer support.

This comprehensive review aims to provide an in-depth analysis of its services, catering to both novice and intermediate traders who seek a reliable and efficient trading platform.

Company Overview

Background and History

FXCC was founded with the mission to offer a transparent and efficient trading environment.

The company is headquartered in Limassol, Cyprus, and operates under strict regulatory oversight from CySEC.

The broker is committed to providing clients with a secure trading environment by adhering to stringent regulatory standards and ensuring client funds’ safety.

FXCC’s journey began over a decade ago with the vision of revolutionizing the forex trading industry.

Since its inception, the company has focused on technological innovation and customer satisfaction.

Over the years, the company has continually adapted to the evolving market demands, enhancing its platform features, expanding its product offerings, and improving customer service.

This dedication has helped them earn the trust of thousands of traders worldwide.

Regulatory Status

Regulation is a crucial factor when choosing a forex broker.

The company is regulated by CySEC, ensuring that it adheres to the necessary legal and ethical standards.

CySEC regulation also mandates that FXCC participates in the Investor Compensation Fund (ICF), which provides additional security to clients’ funds up to a certain amount in the event of insolvency.

CySEC’s oversight ensures that it adheres to strict financial standards, including maintaining sufficient capital reserves and following transparent business practices.

This regulation provides traders with an additional layer of security, knowing that their funds are protected and that the broker operates under a recognized legal framework.

Key Milestones

Throughout its history, the company has achieved several key milestones that highlight its growth and commitment to excellence.

These milestones include:

• 2010: FXCC was established and received CySEC regulation.
• 2012: Launch of the ECN XL account, offering tighter spreads and better execution speeds.
• 2015: Introduction of mobile trading applications, enabling traders to access their accounts on-the-go.
• 2018: Expansion of cryptocurrency trading options.
• 2020: Implementation of advanced security measures and enhancements to the MT4 platform.

These milestones reflect its continuous efforts to improve its services and adapt to the changing needs of the forex market.

Trading Platforms

MetaTrader 4 (MT4)

FXCC offers the widely used MetaTrader 4 (MT4) platform, which is renowned for its user-friendly interface, comprehensive charting tools, and a range of technical indicators.

MT4 supports automated trading through Expert Advisors (EA), allowing traders to implement their strategies with minimal manual intervention.

Key Features of MT4

• Advanced Charting Tools: MT4 provides a wide array of chart types and timeframes, enabling traders to perform detailed technical analysis. The platform supports multiple chart windows, allowing traders to monitor various instruments simultaneously.
• Expert Advisors: The platform supports automated trading through EA, which can be customized or purchased from the MetaTrader Market. Traders can back test their strategies using historical data to refine their approach.
• Mobile Trading: MT4 is available on both iOS and Android devices, allowing traders to manage their accounts on the go. The mobile app offers full functionality, including charting tools, technical indicators, and order execution.
• Secure Transactions: The platform ensures secure and encrypted transactions, protecting clients’ personal and financial information. MT4 uses advanced encryption protocols to safeguard data integrity and privacy.

Web Trader

In addition to the MT4 platform, FXCC offers a WebTrader version, which allows traders to access their accounts directly from any web browser without the need to download or install software.

WebTrader provides the same features as the desktop version, including real-time quotes, advanced charting tools, and one-click trading.

Benefits of Web Trader

• Accessibility: Traders can access their accounts from any device with an internet connection, providing flexibility and convenience.
• No Installation Required: Web Trader eliminates the need for software installation, making it ideal for traders who use shared or public computers.
• Cross-Platform Compatibility: The platform is compatible with all major web browsers, ensuring a seamless trading experience across different operating systems.

Mobile Trading Apps

FXCC offers mobile trading apps for both iOS and Android devices, allowing traders to manage their accounts and execute trades from their smartphones or tablets.

The mobile apps provide full access to account information, trading tools, and market data.

Key Features of Mobile Trading Apps

• Real-Time Quotes: Traders can view real-time quotes for all available instruments, ensuring they have up-to-date market information.
• Charting Tools: The mobile apps include advanced charting tools and technical indicators, enabling traders to perform technical analysis on-the-go.
• Order Management: Traders can place, modify, and close orders directly from the mobile app, providing flexibility and convenience.

Account Types

This broker offers several account types designed to meet the needs of different traders, ranging from beginners to seasoned professionals.

Standard Account

The Standard Account is suitable for novice traders who are just starting in the forex market.

It offers competitive spreads and requires a minimum deposit of $100.

This account type provides access to all trading instruments and features available on the MT4 platform.

ECN XL Account

The ECN XL Account is tailored for more experienced traders who require tighter spreads and faster execution speeds.

This account type provides access to interbank liquidity, resulting in lower trading costs.

The minimum deposit for an ECN XL Account is also $100.

ECN XL accounts operate on a no-dealing desk (NDD) model, ensuring that trades are executed without any intervention from the broker.

Demo Account

FXCC provides a demo account for traders who wish to practice their strategies without risking real money.

The demo account simulates real market conditions and allows traders to familiarize themselves with the MT4 platform.

It is an invaluable tool for beginners to learn the basics of forex trading and for experienced traders to test new strategies.

Islamic Account

For traders who require a Sharia-compliant trading account, it also offers Islamic accounts that operate without interest charges, in accordance with Islamic finance principles.

These accounts provide the same features and benefits as the standard and ECN XL accounts, ensuring that all clients have access to fair and ethical trading conditions.

Account Comparison Table

Trading Conditions

Spreads and Commissions

FXCC is known for offering competitive spreads, particularly on its ECN XL Account.

The broker operates a no-dealing desk (NDD) model, ensuring that there is no conflict of interest between the company and the trader.

This model allows them to offer raw spreads from liquidity providers.

Spread Comparison Table

Leverage

FXCC offers leverage up to 1:500, providing traders with the ability to control larger positions with a smaller amount of capital.

However, it is important to note that higher leverage also increases the risk of significant losses.

Traders should use leverage cautiously and consider their risk tolerance and trading strategy.

Order Execution

As an ECN broker, it ensures fast and reliable order execution.

Trades are executed directly with liquidity providers, eliminating the risk of requotes and slippage.

This results in a more transparent and efficient trading experience.

Their infrastructure is designed to handle high trading volumes and ensure minimal latency.

Trading Instruments

FXCC offers a wide range of trading instruments, including:

• Forex: Major, minor, and exotic currency pairs.
• Indices: Major global indices such as the S&P 500, Dow Jones, and FTSE 100.
• Commodities: Precious metals (gold, silver), energy products (crude oil, natural gas), and agricultural products.
• Cryptocurrencies: Popular digital currencies like Bitcoin, Ethereum, and Litecoin.

Trading Instruments Table

Fees and Charges

Deposit and Withdrawal Fees

This broker does not charge any fees for deposits or withdrawals.

However, traders should be aware that their payment provider might impose charges.

The broker supports multiple payment methods, including bank transfers, credit/debit cards, Skrill, and Neteller.

FXCC ensures that the deposit and withdrawal processes are straightforward and efficient.

Inactivity Fees

The company does not charge inactivity fees, making it an attractive option for traders who do not trade frequently.

This policy is particularly beneficial for traders who prefer to hold long-term positions or who trade intermittently.

Overnight Fees

For positions held overnight, it charges swap fees, which can be either positive or negative depending on the instrument and the direction of the trade.

Islamic accounts are exempt from swap fees, ensuring compliance with Sharia law.

Traders should be aware of the potential costs associated with holding positions overnight and plan their trading strategies accordingly.

Comparison of Fees

Customer Support

Availability

The company offers customer support 24/5 via multiple channels, including live chat, email, and telephone.

The support team is available to assist with any issues or inquiries related to trading, account management, and technical support.

Their commitment to providing timely and efficient customer service is evident in their availability and responsiveness.

Quality of Support

Its customer support is known for its responsiveness and professionalism.

Many clients have praised the support team for their efficiency and willingness to resolve issues promptly.

The support team is knowledgeable about the broker’s products and services, ensuring that traders receive accurate and helpful information.

Support Channels

• Live Chat: Available on the website, providing instant assistance.
• Email: Traders can send inquiries to [email protected] and expect a response within 24 hours.
• Telephone: It also offers phone support for time-critical issues, with dedicated lines for different regions.

Customer Support Comparison

Educational Resources

FXCC provides a range of educational resources to help traders improve their skills and knowledge.

These resources include:

Webinars

FXCC regularly hosts webinars on various trading topics, including market analysis, trading strategies, and platform tutorials.

These webinars are conducted by industry experts and are accessible to all registered clients.

Webinars offer an interactive learning experience, allowing traders to ask questions and receive real-time feedback.

Trading Guides

The broker offers comprehensive trading guides that cover essential topics such as forex basics, technical analysis, and risk management.

These guides are suitable for both beginners and intermediate traders looking to enhance their knowledge.

The guides are well-structured and easy to understand, making them an invaluable resource for traders of all experience levels.

Market Analysis

FXCC provides daily and weekly market analysis reports to help traders stay informed about market trends and developments.

These reports include technical and fundamental analysis, providing insights into potential trading opportunities.

Market analysis is crucial for making informed trading decisions and staying ahead of market movements.

Glossary

To help beginners understand trading terminology, it offers a detailed glossary.

This resource is particularly useful for those new to the forex market, providing clear definitions of commonly used terms.

The glossary is easily accessible on their website and serves as a quick reference guide for traders.

Educational Resources Comparison

Security of Funds

Segregated Accounts

FXCC ensures the safety of clients’ funds by holding them in segregated accounts.

This means that clients’ funds are kept separate from its operational funds, reducing the risk of misuse.

Segregated accounts provide an additional layer of security, ensuring that client funds are protected in the event of insolvency.

Investor Compensation Fund (ICF)

As a CySEC-regulated broker, FXCC is a member of the Investor Compensation Fund (ICF).

The ICF provides additional protection to clients by compensating them up to a certain amount in case the broker becomes insolvent.

This membership enhances the security of clients’ funds and provides peace of mind.

Security Measures

The company employs robust security measures to protect clients’ financial transactions.

All payment methods are encrypted, ensuring that personal and financial information is secure.

The broker uses advanced encryption protocols and two-factor authentication (2FA) to safeguard data integrity and privacy.

Security Features Comparison

Account Opening Process

Step-by-Step Guide

Opening an account is a straightforward process that can be completed online.

Here is a step-by-step guide to getting started:

1. Registration: Visit their website and click on the “Open Account” button. Fill in the required personal information, including name, email address, and phone number.
2. Verification: Upload the necessary identification documents, such as a passport or driver’s license, and a proof of address, such as a utility bill or bank statement. The verification process ensures compliance with regulatory requirements.
3. Account Funding: Once your account is verified, you can fund it using one of the available payment methods. FXCC supports multiple payment options, making it convenient for traders to deposit funds.
4. Start Trading: Download the MT4 platform, log in with your account credentials, and start trading. The platform provides access to all trading instruments and features, allowing you to execute trades and manage your account efficiently.

Required Documentation

To comply with regulatory requirements, it requires the following documentation for account verification:

• Proof of Identity: A valid passport, national ID card, or driver’s license.
• Proof of Address: A recent utility bill, bank statement, or any official document that includes your name and address.

Account Opening Comparison

Trading Tools

Economic Calendar

FXCC provides an economic calendar that lists important economic events and data releases.

This tool helps traders stay informed about market-moving events and plan their trading strategies accordingly.

The economic calendar includes information on upcoming events, their expected impact, and actual results, allowing traders to make informed decisions.

Trading Calculators

FXCC offers various trading calculators, including a pip calculator, margin calculator, and profit/loss calculator.

These tools assist traders in managing their risk and planning their trades more effectively.

The calculators are user-friendly and provide accurate results, helping traders optimize their trading strategies.

VPS Hosting

For traders who use automated trading systems, it offers Virtual Private Server (VPS) hosting.

A VPS ensures that your trading platform remains operational 24/7, minimizing downtime and reducing the risk of missed trading opportunities.

VPS hosting is particularly beneficial for traders who rely on EA and require uninterrupted connectivity.

Trading Tools Comparison

Trading Experience

User Interface

The MT4 platform, known for its intuitive and user-friendly interface.

The platform offers a customizable layout, allowing traders to arrange charts and tools according to their preferences.

The navigation is straightforward, making it easy for traders of all experience levels to use the platform efficiently.

Mobile Trading

This broker offers mobile trading through the MT4 app, available for both iOS and Android devices.

The mobile app provides access to all the features of the desktop platform, including charting tools, technical indicators, and order management.

This allows traders to manage their accounts and execute trades on the go.

Order Execution Speed

As an ECN broker, FXCC provides fast and reliable order execution.

Their infrastructure is designed to minimize latency and ensure that trades are executed at the best available prices.

This is particularly beneficial for high-frequency traders and those who rely on precise timing for their strategies.

Trading Experience Comparison

Trading Strategies Supported

Scalping

FXCC supports scalping, a trading strategy that involves making numerous small trades to take advantage of minor price movements.

Its low spreads and fast execution speeds make it an ideal choice for scalpers.

Scalping requires precise timing and quick execution, both of which are facilitated by its robust infrastructure.

Hedging

Hedging is allowed, enabling traders to open multiple positions in opposite directions to manage risk.

This flexibility is crucial for traders who want to protect their investments against adverse market movements.

Hedging allows traders to offset potential losses by taking opposing positions, providing a balanced approach to risk management.

Automated Trading

The MT4 platform supports automated trading through Expert Advisors (EA).

Traders can develop their own EA or purchase them from the MetaTrader Market.

The broker’s VPS hosting service further enhances the efficiency of automated trading by ensuring uninterrupted connectivity.

Automated trading allows traders to execute strategies without manual intervention, increasing efficiency and consistency.

Trading Strategies Comparison

Market Research

Daily Market Analysis

FXCC provides daily market analysis reports that cover major currency pairs, commodities, and indices.

These reports include technical and fundamental analysis, helping traders make informed decisions based on the latest market trends.

Daily market analysis is crucial for staying updated with market movements and identifying potential trading opportunities.

Weekly Market Outlook

In addition to daily analysis, FXCC offers a weekly market outlook.

This comprehensive report provides an overview of the key events and trends that are likely to impact the markets in the coming week.

It is a valuable resource for traders who want to plan their strategies ahead of time.

The weekly outlook includes in-depth analysis and expert insights, helping traders anticipate market movements.

Market Research Comparison

Fees and Costs

Trading Fees

FXCC charges competitive trading fees, particularly on its ECN XL Account, where spreads are very low.

The broker does not charge commissions on trades, which is a significant advantage for traders who want to minimize their trading costs.

Low trading fees contribute to higher profitability, making it an attractive choice for cost-conscious traders.

Non-Trading Fees

FXCC does not impose any non-trading fees, such as account maintenance or inactivity fees.

This policy makes it an attractive option for traders who may not trade frequently but still want to keep their accounts open.

The absence of non-trading fees ensures that traders can maintain their accounts without incurring additional costs.

Comparison with other companies

When compared to other brokers, their fees and costs are competitive.

Their low spreads, absence of deposit and withdrawal fees, and no inactivity fees make it a cost-effective choice for traders.

FXCC’s transparent fee structure and competitive pricing enhance its appeal to both novice and experienced traders.

Fees and Costs Comparison

Deposit and Withdrawal Process

Supported Payment Methods

FXCC supports a wide array of payment methods, making it convenient for clients to deposit and withdraw funds.

These methods include:

• Bank Transfers: Secure and reliable, though processing times can vary.
• Credit/Debit Cards: Instant deposits with widely accepted cards like Visa and MasterCard.
• E-wallets: Fast and convenient options such as Skrill and Neteller.

Processing Times

Deposits are typically processed instantly or within a few hours, depending on the payment method.

Withdrawals are usually processed within 24 hours, although bank transfers may take longer.

FXCC ensures that deposit and withdrawal processes are efficient and user-friendly.

Security Measures

The company employs robust security measures to protect clients’ financial transactions.

All payment methods are encrypted, ensuring that personal and financial information is secure.

The broker uses advanced encryption protocols to safeguard data and protect against unauthorized access.

Deposit and Withdrawal Comparison

Account Security

Two-Factor Authentication (2FA)

FXCC supports two-factor authentication (2FA) to enhance the security of clients’ accounts.

This feature adds an extra layer of protection by requiring a second form of verification, such as a code sent to a mobile device.

2FA helps prevent unauthorized access to trading accounts, ensuring that only the account holder can log in.

Encryption

All transactions and personal data are protected by advanced encryption technology.

FXCC ensures that sensitive information is secure from unauthorized access and cyber threats.

The company uses state-of-the-art encryption protocols to safeguard client data and maintain privacy.

Regulatory Compliance

As a CySEC-regulated broker, the company adheres to strict regulatory standards.

The company is required to maintain high levels of transparency and integrity, providing clients with a secure trading environment.

Regulatory compliance ensures that FXCC operates within a legal framework, protecting clients’ interests.

Security Features Comparison

Conclusion

FXCC is a reputable and well-regulated broker that offers a robust trading platform, competitive trading conditions, and excellent customer support.

Its commitment to transparency and client security makes it a trustworthy choice for traders of all experience levels.

Strengths

• Competitive Spreads: It offers very low spreads, particularly on its ECN XL Account.
• Regulation: The broker is regulated by CySEC, ensuring a secure and transparent trading environment.
• Customer Support: FXCC provides responsive and professional customer support, available 24/5.
• Educational Resources: It offers a range of teaching materials, including webinars, trading guides, and market analysis reports.
• No Deposit/Withdrawal Fees: This broker does not charge fees for deposits or withdrawals, making it a cost-effective option for traders.

Areas for Improvement

• Limited Platform Options: FXCC only offers the MT4 platform and does not support MT5 or other advanced trading platforms.
• Copy Trading and ZuluTrade: The broker does not provide Copy Trading services or support for ZuluTrade, limiting options for traders who prefer social trading.
• Withdrawal Processing Time: While deposits are processed quickly, withdrawal processing times, especially for bank transfers, could be improved.

Overall, it is a strong contender in the forex brokerage industry, providing a reliable and efficient trading experience.

Whether you are a beginner looking to start your trading journey or an experienced trader seeking competitive conditions, FXCC offers the tools and support needed to succeed in the forex market.

FAQ

Resources

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User Reviews

Article written, edited and reviewed by

Adam Rosen

Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.

Andrew Blumer

Andrew Blumer is a finance pro who's got money matters down to a science.
Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
But hold on, there's more to this financial nerd.
Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
Oh, and did we mention? He's the manager of Brokfolio's website and an expert in online brokers. So, if you're diving into the world of trading, Andrew's your go-to guy.
For more on his financial escapades, head over to his LinkedIn profile. Trust us, his journey is worth a read!

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Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
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Currently Emily's holding the senior editor crown, keeping tabs on content from our awesome team.

Alternatives

Rank	Broker	Review
1	xChief
2	XTB
3	Exness
4	RoboForex
5	FBS
6	XM
7	JustMarkets
8	Markets.com
9	eToro
10	IC Markets

Last updated: September 5, 2024