Regulated by CySEC, FXCC provides clients with access to a liquid Forex model (ECN). All of its clients receive the same access, and all trades are executed immediately, with no delays or re-quotes. The broker doesn’t take the other side of trades, which differentiates it from Dealing Desk brokers. Client orders, stops, limits, and trades are executed with counter-parties, meaning FXCC is firmly on the client’s side.
This broker has a lot to offer its traders, including optimal conditions, educational tools, and the use of the MetaTrader 4 platform. FXCC provides competitive forex spreads and transparent pricing, and this No Dealing Desk broker also allows any type of trade strategy (a feature that is discussed a few sections below).
FXCC most popular trading account “ECN XL Account” offers variable spreads from 0.0 pips, with maximum leverage 1:500 depending on regulation. Islamic traders will like this broker, as there is a swap-free account. Overall, FXCC is an excellent broker. Though every broker has its pros and cons, the pros are weighted heavily in this trading hub’s favor.
Pros and Cons
Pros
- No Commissions
- No Minimum Deposit
- Multilingual, 24/5 Customer Support
- Deposit Bonus Offered
- VPS Available
Cons
- No US Citizens
- No MetaTrader 5
- Only 1 Account Type Offered (XL)
Who Is Recommended For?
There are a few features that indicate that FXCC is a good broker for beginning or new traders. Discussed individually below, these features include educational tools, customer support, and client monetary protection.
Educational Tools
There are a lot of educational resources with this broker, and many of them go back to basics, including guides on how to read Forex charts and learn Forex trading “step by step.” There are also various analyses that let you know which way the winds are blowing, as far as the global trading economy goes. A Forex e-book and educational glossary are also included under the FXCC “Education & Research” header. This feature indicates that FXCC is perfectly fine with teaching new traders the ropes.
Customer Support
Customer support is very important for new traders, and FXCC offers it in the form of 24-hour customer service that runs five days a week. These customer service agents will help you figure out any issue you have.
Client Monetary Protection
According to FXCC, many of the procedures the broker has adopted “go beyond” the basic rules and regulations imposed upon it in various countries. The broker monitors all financial requests, making sure that they are safe. They have been regulated and licensed for over a decade, something that FXCC says helps with “providing customer protection.” Overall, these three features indicate that this broker cares a lot about its clients’ experience, even if the clients are new to trading.
Top Features
- Tightest Spreads, No Commission Fees. As traders know, one of the most important things when it comes to trading is the money you don’t have to spend. At FXCC, there are no commission fees for the ECN XL Account. Spreads are also tight, starting at 0.0 pips. The ECN XL Account is also called the “ZERO” account because, in addition to zero commission fees and spreads starting at 0.0 pips, the account also has zero deposit fees.
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All Trading Strategies Allowed. FXCC is pretty open-minded about which trading strategies it allows. Hyperactive, news trading, scalping, and other strategies are permitted with this broker, even though others might not allow them.
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Partnership Program. The FXCC partnership program is also top-notch. With this program, there are high-end commissions, a tailor-made partner portal, wide range of marketing materials, advanced tracking, and global payment options. FXCC takes a personal approach to its partners, and its regional partners get assistance with marketing plans. They also get marketing budget support.
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Transparency. FXCC delivers, in real time, executable spreads for popular instruments: https://www.fxcc.com/average-effective-spreads.
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Swap-Free (Islamic) Accounts. FXCC’s swap-free accounts are another highlight with this broker. Traders holding Islamic accounts will pay no commission or administrative fees, and there are, of course, no swap fees charged. Islamic accounts are provided by request, and FXCC has the right to refuse to provide an Islamic account if it sees fit.
Overview
- Type of Broker Non-Advisory/Executionary Broker
- Regulation & Licensing Cyprus Securities and Exchange Commission (Cyprus)
- Clients Accepted from All Except for U.S.
- Assets Offered Foreign Exchange (FX), Commodities, Indices, CFDs, Cryptocurrency
- Platforms Available PC, Smartphone, Tablet
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit/Debit Card, Bank Wire Transfer, Skrill, Union Pay, Neteller, Paymero,
Account Types
ECN XL Account |
|
Features |
Tightest spreads, no trading commissions, interbank spreads |
Account Currencies |
USD, EUR, GBP |
Available Leverage |
depends on regulation |
Minimum Deposit |
No minimum deposit |
Starting Spreads |
0 Depending on Asset |
Commission Per Trade |
$0 |
Decimal Pricing |
Up to 5 |
Trading Instruments |
71 FX Pairs, 7 Commodities, 8 Available Cryptocurrencies, 12 Indices |
Min. Lot Size Per Trade |
0.01 |
Max Lot Size Per Trade |
500 (Forex) |
Demo Account |
Yes |
Swap/Rollover Free |
Yes |
Copy Trading Support |
No |
Compliance & Regulation
FXCC is owned by FX Central Clearing Ltd., which the Cyprus Securities and Exchange Commission regulates with the license number 121/10. FXCC doesn’t provide services to U.S. citizens, though it is open to all other countries.
Pricing
As aforementioned, there are no commission or deposit fees required with this broker. As far as investor features go, traders will find a lot offered, including a wide range of products, the MetaTrader 4 platform, Forex tools, and Forex offers. Each of these four are discussed briefly below.
Range of Products
With FXCC, traders can trade Forex, crypto, indices, metals, and energies. There are over seventy Forex pairs across minors, majors, and exotics, and the currency pairs offered start at 0 pips with a maximum leverage depending on regulation. Indices include the US Wall Street 30, US 500, US Tech 100, and other indices from Germany, Spain, France, Switzerland, Hong Kong, Japan, and Australia.
Those looking to trade metals can choose from spot gold, spot silver, and spot palladium, all versus the US dollar or, in the case of spot gold, the euro. Crypto traders can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, ZCash, Dash, and Ripple, and energies traders can trade spot US crude oil and spot UK brent oil.
MetaTrader 4
Traders can make use of the MetaTrader 4 platform at FXCC. MT4, which has helpful tools like flexible trading systems, wide technical analyses, and algorithmic and mobile trading, is offered for PC, tablet, and smartphone users.
Forex Tools
With FXCC, traders will find a selection of Forex tools that they can use, including Forex calculators, live quotes, market hours, current trading positions, interest rates, and roll call. These tools provide insight into trading Forex, keeping traders up to date with the latest trends.
Forex Offers
Lastly, there are several offers on hand for Forex traders. In addition to the aforementioned Forex ECN XL trading account, FXCC also offers a VPS and depending on regulation – deposit bonus. Clients can trade using a Virtual Private Server, which FXCC says can give them three main advantages, including accessibility, security, and speed.
Reliability & Security
According to FXCC, the broker works to be “trustworthy, transparent, and fair.” The trader appears to be reliable, and, judging from the handful of awards it has won at the UK Forex Awards (including “Best Forex Trading Account”), traders like it.
The broker has been around since 2010, and, though that is still pretty new compared to others, it has over a decade of industry experience. FXCC’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution.
User Experience
Users will like their experience with this broker because it charges very few fees. There are no commission fees, nor is there a minimum deposit, and spreads start at 0.0 pips for some assets. These cost-saving features, combined with the 24/5 customer service, make “user experience” high on the FXCC priority list.
Final Thoughts on
FXCC has been around for more than a decade, and that experience in the industry has made it a well-liked broker. The educational tools offered, dedicated customer service, and zero commissions fees are all major bonuses. Though FXCC provides only one account type and one platform, the ECN XL is a pretty strong offering that will work for traders of all experience levels.
Contact Info
Address: 2 Samou Street, 4043, Limassol, Cyprus
FAQs
Q: How do I create an account?
A: To create an account, go to the upper right-hand corner of the FXCC.com page. Click “Register.” You will have to go through an account verification process if you want to start trading. The required documents include a clear copy of your identity card or passport and proof of address. To show proof of address, you will need to input a clear copy of a recent utility bill that has been dated within the last six months to your home.
Q: Are funds held in segregated accounts?
A: Yes. FXCC works with multiple banks to hold client funds in segregated accounts, which are held separate from FXCC’s day-to-day operating transactions and business banking.
Q: How long can I use my demo account?
A: The demo account expires thirty days after your last login to the trading platform. If it expires, you’ll have to log into the Clients Portal and re-register, creating a new demo account.