FXCC is a forex broker regulated by CySEC and MISA, offering benefits such as leverage up to 1:500 and a 100% bonus for the first deposit. This brokerage seems to be a good choice judging by such parameters.
However, is FXCC reliable enough for your money? In this review, we will have an in-depth look at everything about this company to help you in making a decision.
Company Information & Regulation
FXCC is a forex broker operating since 2010, headquartered in Cyprus. Based on the official data, all offered services and products are provided by Central Clearing Ltd, a company registered in Mwali island with the number HA00424753. Company's Regulating Bodies:
- Cyprus Securities and Exchange Commission (CySEC) with the license number 121/10;
- Mwali International Services Authorities (MISA) with the license number BFX2024085.
Central Clearing Ltd is registered in 4 regions, including the Comoros Union, Nevis, Saint Vincent & the Grenadines, and Cyprus.
Table of Features and Specifics
FXCC is a forex broker with a suite of common specifics, like other brokerages. Here's a snapshot of these features:
Broker | FXCC |
Account Types | ECN XL, Demo |
Regulating Authorities | CySEC, MISA |
Based Currencies | USD, EUR, GBP |
Minimum Deposit | 0 |
Deposit Methods | Credit/Debit Card, E-Wallets, EeziePay, Awepay, Crypto |
Withdrawal Methods | Credit/Debit Card, E-Wallets, EeziePay, Awepay, Crypto |
Minimum Order | 0.01 Lot |
Maximum Leverage | 1:500 |
Investment Options | None |
Trading Platforms & Apps | MetaTrader 4 |
Markets | Forex, Crypto, Indices, Metals, Energies |
Spread | Floating From 0.0 Pips |
Commission | $0 |
Orders Execution | Market |
Margin Call/Stop Out | 100%/50% |
Trading Features | Free VPS |
Affiliate Program | Yes |
Bonus & Promotions | 100% Deposit Bonus |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Email, Phone Call, Live Chat, Ticket |
Customer Support Hours | 24/5 |
Trading Account Types Overview
FXCC is not the best when it comes to trading accounts. Currently, it only offers 1 trading account, which is ECN XL. Trading Account Features in FXCC:
Min. Deposit | None |
Min. Order Size | 0.01 Lot |
Max. Leverage | 1:500 |
Negative Balance Protection | Yes |
Account Currencies | USD, EUR, GBP |
Stop Out Level | 50% |
Also, these features are available in the account:
- Use of EAs;
- Scalping;
- News trading;
- Hedging;
- Swap-free Islamic account.
Besides, there's an ECN Promo account introduced by the company, but it's not available yet. Except these accounts, a demo account is provided for practice.
How to Sign Up and Verify on FXCC
Creating an account with the broker is similar to most other companies, and it's straightforward. Here's a brief guide to get you started:
- Visit the website and click on the "Register" button;
- Choose between signing up directly or using your Facebook or Google account;
- Fill in the registration form with your full name and provide an email address;
- Create a secure password (must include at least one uppercase letter, one lowercase letter, and one number).
Now, your account is created, and the login details are sent to the provided email. For completing your profile and verification, provide additional personal information on the website, and submit the required identity and residence documents.
Does FXCC Provide Various Trading Platforms?
FXCC exclusively offers the MetaTrader 4 (MT4) platform, renowned for its reliability and versatility in the forex trading world. Here's what you can expect from FXCC's MT4 offering:
- User-friendly interface suitable for both beginners and experienced traders;
- Advanced charting capabilities with nine timeframes for detailed market analysis;
- Over 50 built-in technical indicators and analytical tools;
- Custom indicator and Expert Advisor (EA) support using MQL4 programming language;
- One-click trading and drag-and-drop functionality for efficient order execution.
You can download this popular platform's software for your mobile devices through the links below:
Spreads And Trading Commissions
FXCC prides itself on offering competitive pricing to its clients. In the table below, we will have an overview of the trading fees and spreads in its ECN XL account:
Commission | Zero |
Spreads | Floating From 0.0 Pips |
The spread varies based on the trading pair. Also, there are no other fees, including deposit or inactivity costs. However, a withdrawal cost is charged.
Deposit and Withdrawal Options
FXCC offers a wide range of deposit and withdrawal options. This makes payments convenient for traders from various regions. Deposit and Withdrawal Methods in FXCC:
- Bank Wire Transfer: with a minimum deposit of $500
- Credit/Debit Cards (Visa & Mastercard): 1-hour processing for deposits
- E-wallets (Skrill, Neteller): No minimum amount for deposits
- Cryptocurrencies: Supports Bitcoin, Ethereum, and USDT
- EeziePay and Awepay: Alternative payment methods for specific regions
Copy Trading & Investment Options Offered On FXCC Broker
As of the latest information available, the company does not offer copy trading or other investment features on its platform. This means that traders cannot be able to earn passive income with this brokerage.
For traders specifically interested in copy trading, it may be worth exploring other brokers that offer this feature. It's always advisable to check FXCC's official website or contact their customer support for the most up-to-date information on available features and services.
Bonuses And Promotions
FXCC offers an attractive 100% first deposit bonus to both new and existing clients holding an ECN XL account. The amount goes up to a maximum of $2,000 USD.
While the 100% deposit bonus can provide a significant boost to trading capital, it's essential for traders to understand the associated terms and use the bonus responsibly as part of their overall trading strategy. Check the website for any updates.
FXCC Support: Does It Offer Phone Services?
The brokerage covers some of the most common contact methods for its support services. Here's an overview of its channels:
- Live Chat: Accessible directly from the FXCC website
- Phone Call: +44 203 150 0832
- Email: support@fxcc.com
- Ticket System: Available through the website
Based on the information on the website, the support department is available 24 hours, Monday to Friday. Therefore, no 24/7 service is available. This can be considered a downside by many traders.
Trust Scores & User Ratings
FXCC's reputation in the forex trading community can be gauged through various review platforms and trust scores, including REVIEWS.io and Trustpilot. Check out the ratings here:
- Trustpilot: 4.4 out of 5, with 220+ reviews
- ForexPeaceArmy: 2.7/5, based on more than 60 ratings
- io: 3.8 out of 5, over 300 scores
Overall, based on the numbers above, one can say that the brokerage has achieved acceptable scores from users and trust platforms.
Conclusion and Final Words
FXCC is a good choice for most traders since it provides attractive features like leverage up to 1:500, no commission trading, etc. Also, it's regulated by CySEC, a high-tier and reputable authority.
However, there are drawbacks, too, including no variety in account types, no 24/7 support, and a relatively limited range of trading instruments. Overall, we recommend this brokerage if you don't mind the disadvantages; because it seems to be a reliable one.
