FXCC Forex Trade Platform and Broker Review

FXCC Forex Trade Platform and Broker Review

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FXCC Broker Review

FXCC is an award-winning retail online trading broker that was founded in 2010 in Vanuatu. FXCC’s main financial services consist of the facilitation of trades in a variety of financial instruments spread across several asset classes.

FXCC has between 10 and 100 employees, with offices that are based in Cyprus and Vanuatu.

Is FXCC Regulated?

Yes, FXCC is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a member of the Association of Cyprus International Investment Firms (ACIIF), a representative body of the Cyprus Investment Firms (CIFs), and applies in the Markets in Financial Instruments Directive (MiFID), in addition to being a member of the Investor Compensation Fund (ICF).

FXCC ensures the highest level of client fund security through its regulation and ensures that eligible clients can receive compensation if the broker should be liquidated, goes bankrupt, or is otherwise unable to fulfil its financial obligations. 

Is FXCC Regulated in the United States?

No, FXCC is not regulated in Virginia or any other US state. 

Is FXCC Regulated in Europe?

No, FXCC is not regulated in Europe by any regulatory entity. However, FXCC applies the Markets in Financial Instruments Directive (MiFID) by providing a regulatory environment that is harmonized for the provision of investment services in the European Economic Area (EEA).

In addition to this, FXCC is an investment firm that is authorized by an EU Member State regulator and it is registered with a variety of regulatory bodies of EEA member states to provide services in these jurisdictions.

Is FXCC regulated in a Tier-1 Jurisdiction?

With Tier-1 Jurisdiction, FXCC is granted the license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official FXCC website, FXCC is regulated in Tier-1 jurisdiction.

Is FXCC regulated in Tier-2 Jurisdiction?

With Tier-2 Jurisdiction, FXCC is granted the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, FXCC is regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in FXCC?

FXCC offers forex traders the highly popular, user-friendly MetaTrader 4 trading platform that can be used.

  1. MetaTrader 4 is a well-known, trusted trading platform that offers all the required tools and services that forex traders need while trading with FXCC. MetaTrader 4 also offers forex traders a plethora of analytical tools, nine timeframes, and a variety of charting capabilities. There is also an in-depth study of past prices provided in addition to customer indicators, EAs, and more.

Does FXCC Have a News Blog for Forex News?

Yes. FXCC offers a news blog for forex news on the official website. This allows forex traders to remain informed on breaking news, opinions, facts, figures, alerts, and a plethora of other information. This also helps forex traders conduct an in-depth, comprehensive fundamental analysis to help them in their trading decisions.

Does FXCC Have a Traders Dashboard?

Yes, FXCC has a forex traders dashboard that offers forex traders exclusive news, articles, and a comprehensive market watch, allowing forex traders to watch each movement in the market and see where, when, and how trends may be forming based on information from economic behavior and occurrences.

Does FXCC Have an Educational Section?

Yes, FXCC has an education section known as the “Education Centre” which can be found on the FXCC official website. Education on the official website is freely available to all forex traders and can easily be accessed without having to register an account first. 

What is the content of FXCC Forex Education?

The FXCC forex education consists of a few sections namely:

  1. Forex Trading Essentials
  2. User Guides for MetaTrader 4
  3. Educational eBooks
  4. Forex Glossary

The Forex Trading Essentials consists of a variety of topics that consist of:

  1. “What is ECN?”
  2. “ECN vs Dealing Desk”.
  3. “Basic Pairs Trading”.
  4. “Rollover (Swaps”.
  5. “Slippage”
  6. “Margin”

The User Guides for MetaTrader 4 consist of:

  1. FXCC iPhone, iPad MT4.
  2. FXCC MetaTrader 4.
  3. FXCC MT4 Android Mobile.
  4. FXCC MT4 MultiTerminal.
  5. FXCC Uninstall MetaTrader 4.

The FXCC Educational eBooks consist of the following free eBooks that can be downloaded from the official website:

  1. “The Right Trading Strategy to Match Your Lifestyle”.
  2. “forex traders Mindset”.
  3. “Money Management”.
  4. “Straight Through Processing”.
  5. “How to Build a Winning Trading Plan”.

The Forex Glossary provided by FXCC on the official website consists of all the terms and their definitions that forex traders can expect to find while trading. The Glossary has a search function along with sections from A to Y, allowing forex traders to browse or search for their term.

Is FXCC Legit?

Yes, FXCC is a legit forex broker and trade platform with regulation through Cyprus Securities and Exchange Commission (CySEC). 

FXCC is also a member of the Association of Cyprus International Investment Firms (ACIIF), a member of the Investor Compensation Fund (ICF), a representative body of the Cyprus Investment Firms (CIFs), and applies in the Markets in Financial Instruments Directive (MiFID).

Is FXCC Safe?

Yes, FXCC is a safe and reliable broker with strict regulation and authorization through the reputable CySEC in addition to being a MiFID and ICF member.

FXCC ensures client fund security by keeping funds in segregated accounts with top-tier banks, separate from the company’s own funds. 

Is FXCC a Good Broker?

Yes. According to a Forex Suggest review, FXCC is a good broker in terms of security, trading speed, online support, and the provision of cryptocurrencies.

  1. Where security is concerned, FXCC makes use of SSL and other stringent security protocols to ensure the encryption of data, information, and transactions.
  2. In terms of trading speed, FXCC, through its STP and ECN business models, ensures lightning-fast execution of trades at the best possible prices.
  3. Online support is provided by a live chat function which is available on the official website.
  4. In terms of cryptocurrency, FXCC offers trading of contract for difference (CFD) on Bitcoin, Ethereum, Litecoin, Dash, and Ripple.

What is the Offering of Investment in FXCC?

Offerings of FXCC can be found below.

Feature FXCC
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  No

Does FXCC have Nasdaq?

Nasdaq is the index that tracks the top technology stocks in the United Stocks.

As a Nasdaq owner, FXCC offers shares and indices to CFDs to trade.

What are the Awards of FXCC?

Forex Trading Platform FXCC’s awards are listed below.

  1. Winner of the 2017 Best Forex Trading Account – UK Forex Awards.

How to Use FXCC for Forex trading?

To use FXCC, a forex trader should have the necessities below:

  1. Forex traders must be 18 years or older.
  2. Forex traders must have valid identification and proof of their residential address.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of FXCC.

How to open a Forex trader account with FXCC?

To open a Forex Trading account with FXCC, a trader should follow the steps below.

  1. Forex traders can visit the official FXCC website and select “Get Started Now” from the homepage.
  2. Forex traders can provide their first name, last name, and email address and select “Open my Account”.
  3. Forex traders can check their email for their verification email and select the embedded link to be logged into their new FXCC account.

What are the Forex Trader Account Types with FXCC?

Forex Trading Platform and Financial Asset Management Institution FXCC have 5 different account types that are offered.

FXCC Account Types are listed below. 

  1. Demo Account

  2. Islamic Account

  3. ECN Standard Account

  4. ECN XL Account

  5. ECN Advanced Account

 

  • Demo Account

FXCC offers forex traders access to a free, risk-free demo account that can be used as a practice account by beginner forex traders or as a risk-free option to test trading strategies. forex traders can also use the demo account to familiarise themselves with what FXCC has to offer without risking their own capital.

  • Islamic Account

Muslim forex traders who follow the Sharia law are prohibited from paying/earning interest on overnight positions that are held after the trading day has concluded. For this reason, FXCC offers Muslim forex traders the option of converting their live trading account to an Islamic Account.

This ensures that Muslim forex traders are within the parameters of their beliefs and ensures that FXCC extends its offer to more clients around the world.

  • ECN Standard Account

The FXCC Standard Account is the mid-range account that caters for advanced to experienced forex traders.

With the Standard Account, forex traders can expect the following features:

  • Minimum deposit requirement of $10,000.
  • Access to 30 tradable financial instruments.
  • Leverage up to 1:30 for EU and 1:200 for non-EU clients.
  • The ability to use hedging and EAs.
  • Access to SMS notifications, VPS, an economic calendar, technical analysis, trading tools, and a personal account manager.
  • Floating spreads from 0.1 pips.

 

  • ECN XL Account

The FXCC ECN XL Account is an all-around account that caters to a variety of forex traders regardless of whether they are beginners or professionals. The ECN XL Account offers forex traders some of the best and most competitive trading conditions and a variety of features to help them fulfill their needs, objectives, and trading styles.

The ECN XL Account has the following features:

  • Access to MetaTrader 4 on mobile, desktop, and web.
  • Floating spreads from 0.0 pips.
  • Trading commission charges of $0.
  • No minimum deposit requirement when registering an account.
  • Minimum lot size that starts from 0.01 lot.
  • Maximum leverage of 1:500.
  • Negative balance protection is automatically applied to the account.
  • Access to a loyalty program that offers a 100% bonus on the first, initial deposit into the trading account.
  • Available base currencies – USD, EUR, or GBP.
  • Waved funding fees.
  • Stop-out level of 50%.
  • Server locations in New York, London, Germany, Hong Kong, ensuring the best possible trade execution speeds.
  • Ability to trade forex, metals, energies, indices, and more.
  • Ability to make use of automated trading, news trading, and scalping.
  • Ability to convert the account to an Islamic Account.
  • No minimum stop-loss distance.

 

  • ECN Advanced Account

The FXCC ECN Advanced Account caters specifically to professional forex traders who need a competitive edge to their trading.

With the ECN Advanced Account, forex traders can expect the following features:

  • Minimum deposit requirement of $100,000, and higher.
  • Floating spreads from 0.1 pips.
  • Access to more than 200 tradable financial instruments.
  • Leverage up to 1:30 for EU and 1:200 for non-EU clients.
  • The ability to use hedging and EAs.
  • Access to SMS notifications, VPS, an economic calendar, technical analysis, trading tools, and a personal account manager.

How to Withdraw Money from FXCC?

To withdraw money from FXCC, the following should be done:

  • Forex traders can visit the official FXCC website and log into their client portal.
  • Forex traders can select “My Wallet” and “Withdrawals”.
  • Next, forex traders can submit a withdrawal request by providing the amount they wish to withdraw followed by “Submit Request”.
  • Forex traders must note that withdrawals are first processed back to the methods that were used for deposits, given that they are eligible to receive credits.
  • If the withdrawal exceeds the total amount which was initially deposited via Credit Card, the available options will be displayed on the portal.
  • To view pending withdrawals, forex traders can visit the client portal and view them under “My Wallet”.

How many days do deposits take with FXCC?

Deposits with FXCC that are made via Credit/Debit Card and electronic payments often reflect instantly whereas withdrawals made through bank and wire transfer may take a few days.

What are the costs and fees with FXCC?

There are three types of costs with FXCC namely the spread, overnight fees, and margin requirements on trades.

The spread is the difference between the bid and the asking price which is indicated in points or pips. Overnight fees are charged on trades that are kept open overnight, for a few nights, or over a weekend, after the trading day has concluded, charged per instrument and according to interbank rates.

Margin requirements are what FXCC requires the trader deposit as collateral at the start of the trade, with this amount being reduced when forex traders apply leverage.

To view the overnight fees, forex traders must log in to their MetaTrader 4 trading platform and their FXCC live account to view the overnight fees that they can expect.

To view the margin requirements, forex traders can log into their MetaTrader 4 trading platform to view margin, free margin, and margin level on their account where their balance and equity are displayed.

What are the Trading Fees with FXCC?

The Forex Trading Fees with FXCC are below. 

The FXCC ECN Standard Account:

  1. Spreads: from 0.1 pips
  2. Commissions: None

The FXCC ECN XL Account:

  1. Spreads: from 0.0 pips.
  2. Commissions: None

The FXCC ECN Advanced Account:

  1. Spreads: from 0.1 pips.
  2. Commissions: None

What is the minimum deposit in FXCC?

According to the official website, the minimum deposit in FXCC depends on the type of account you register and ranges from $0 to $100,000 and more.

What are the contract specifications in FXCC?

Feature FXCC
Forex Trading Yes
CFDs 50+
Forex Pairs 70+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 5
Social Trading  No

Does FXCC have promotional offers?

Yes, FXCC Trade and Exchange platform have promotional offers for new forex traders, including:

  1. 100% First Deposit Bonus

Does FXCC have a welcome bonus?

Yes, FXCC has a welcome bonus of up to $2,000.

This welcome bonus is the same as the deposit bonus which is offered to new forex traders who register for an FXCC account for the first time.

Does FXCC have a deposit bonus?

Yes, FXCC has a deposit bonus of 100%, or up to $2,000.

This deposit bonus is offered to new forex traders who register a new FXCC live account for the first time and who make their first deposit into their trading account.

Is there a commission-free trade bonus in FXCC?

No, FXCC does not offer forex traders a commission-free trade bonus.  

Is there a VIP bonus in FXCC?

No, FXCC does not offer forex traders a VIP bonus.

Can you start trading with no money at FXCC?

Yes, you can start trading with no money at FXCC as the ECN XL Account does not have a minimum deposit requirement.

How does leverage work with FXCC?

Leverage is a useful tool that is provided to forex traders to help them maximize their profit potential. This is achieved by offering forex traders a certain level of leverage, allowing them to open larger positions despite their initial deposits.

FXCC offers EU clients leverage up to 1:30, according to ESMA regulations and requirements, whereas Non-EU clients have access to leverage up to 1:500.

Where are the headquarters of FXCC?

FXCC is headquartered in Port Vila, Vanuatu.

Who is FXCC’s CEO?

There is no official source that offers this information. According to an official FXCC support agent, this information cannot be provided to non-affiliated parties.

What are the social media accounts of FXCC?

Forex traders can follow FXCC on the following social media accounts:

  • Facebook
  • Twitter
  • RSS Feed
  • Instagram LinkedIn

How many employees do work for FXCC?

There is no official source providing exact information on FXCC’s staff complement. However, judging by its operational size, FXCC has between 10 and 100 employees.

What are the opinions about FXCC?

FXCC is widely regarded as a reputable broker that offers an exceptional suite of accounts and favorable trading conditions. FXCC also offers a range of helpful tools and resources that aid forex traders in their forex trading journey.

What are FXCC Contests?

FXCC does not run any contests.

FXCC does not currently have any contests and the official website does not show any announcements of contests that may be in planning.

Does FXCC have online support?

Yes, FXCC offers online support to forex traders 24 hours a day, 5 days a week through the live chat option that it has on the official website.

Does FXCC offer demo accounts for Forex trading?

Yes, FXCC offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Forex traders can navigate to the official FXCC website and select “Register” from the top banner on the homepage.
  2. Forex traders can select the slider at the top of the online application to “Demo” and complete the form with their first name, last name, and email address. Alternatively, forex traders can register using either their Facebook or Google credentials.
  3. Once forex traders have selected “Open Account”, their details will be registered and they will receive confirmation of their login credentials that can be used to log into their demo account on mobile, desktop, or web.

Does FXCC have a mobile app for Forex trading?

Yes, FXCC offers a mobile app for forex trading by supporting MetaTrader 4 in conjunction with a demo/live FXCC trading account.

With mobile trading on MetaTrader 4 with an FXCC account, forex traders have seamless integration of their trading account. forex traders also have access to the full suite of functions and features that MetaTrader offers with its comprehensive app, in conjunction with the comprehensive FXCC trading accounts.

Does FXCC publish an economic calendar?

FXCC publishes an economic calendar that can only be accessed once forex traders have registered for a trading account and they have uploaded their ID and proof of residence.

An economic calendar is a tool that is crucial to forex traders in offering them a competitive advantage. The calendar displays a timetable of economic events, releases, and announcements that allows forex traders to view occurrences that may affect the markets and subsequently, their trading activities. 

What is the communication information of FXCC?

FXCC has two main telephone numbers and two main local business addresses.

The two main telephone numbers that can be used to contact FXCC telephonically are:

Vanuatu: +44 203 150 0832

Cyprus: +357 25 870750

The main business addresses for FXCC are as follows:

Vanuatu: Law Partners House, Kumul Highway, Port Vila, Vanuatu.

Cyprus: Amorosa Centre, 2nd floor, 2 Samou Street, 4043 Yermasoyia, Limassol, Cyprus.

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