FXCess, headquartered in Bermuda with the legal name Notesco Limited, provides 2 account types [Classic, ECN] with a contract size of 1 lot. The ECN one allows trading without any spreads in the cost of $4.5 per lot. The other account charges no commissions, but comes with variable spreads from 1.7 pips.
Company Key Information and Regulation Licenses
FXCess is one of the lesser-known brokerages founded in 2020, headquartered in Bermuda. Here's the essential data about the company:
- Legal Name: Notesco Limited;
- Registration Number: 51491;
- Registration Address: Ground Floor, Swan Building 26 Victoria Street, Hamilton HM 12 Bermuda;
- Regulating Bodies: Financial Services Authority of Seychelles (FSA) and British Virgin Islands Financial Services Commission (BVI FSC).
Key Features and Important Specifics
To give you a quick overview of what FXCess offers, here's a summary table of its key features:
Broker | FXCess |
Account Types | Classic, ECN |
Regulating Authority | FSA, BVI FSC |
Based Currencies | USD, EUR, GBP, JPY, NGN |
Minimum Deposit | $10 |
Deposit Methods | Bank Wire Transfer, Credit/Debit Cards |
Withdrawal Methods | Bank Wire Transfer, Credit/Debit Cards |
Minimum Order | 0.01 Lot |
Maximum Leverage | 1:1000 |
Investment Options | PMAM |
Trading Platforms & Apps | MetaTrader 4 |
Markets | Forex, Commodities, Shares, Indices, Metals, Futures |
Spread | Variable from 1.7 Pips on Classic Account None on ECN Account |
Commission | None on Classic Account $4.5 per Lot on ECN Account |
Orders Execution | Market |
Margin Call/Stop Out | 80%/50% |
Trading Features | Demo Account |
Affiliate Program | Yes |
Bonus & Promotions | Yes |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Live Chat, Ticket, Phone Call, Email |
Customer Support Hours | 24/5 |
Trading Accounts; Does FXCess Offer A Demo Account?
The brokerage offers two main live account types, each suitable for different trading styles and experience levels:
Account Type | Classic | ECN |
Min. Order | 0.01 Lot | |
Bonuses | Yes | No |
Contract Size | 1 Lot | |
Swap Free (Islamic) Account | Available | No |
Min. Deposit | $10 | |
Max. Leverage | 1:1000 | 1:500 |
Base Currency | USD, EUR, GBP, JPY, NGN | |
Both account types have a low minimum deposit of $10, making them accessible to traders with varying capital. The choice between the two comes down to individual trading preferences and strategies. However, Muslims most likely prefer the classic because of the swap-free account.
Also, FXCess offers a demo environment for improving skills without the risk of any loss.
Sign Up and Verify Your Account on FXCess; Quick Guide
- Visit the website (www.fxcess.com) and click the "Open Account" button;
- Fill in the first form with your email address, and residential country, and create a password;
- In the second form, choose your platform, account type, base currency, leverage, and deposit bonus;
- Enter your full name and nationality in the 3rd form;
- In the last form, agree to the T&C and declare that you are not a citizen of USA.
Your account is created on the broker. For KYC verification, submit the required documents through the website.
Trading Platforms and Facilities
FXCess primarily offers the industry-leading MetaTrader 4 (MT4) platform for forex and CFD trading. MT4 is renowned for its powerful features and user-friendly interface, making it suitable for both novice and experienced traders.
The lack of variety in available trading software could be a drawback for some traders. Nevertheless, you can download MT4 for FXCess via the links below:
Trading Spreads and Overall Costs
FXCess offers attractive pricing structures for trading across its account types. Let's take a look at the numbers in the table below:
Account Type | Classic | ECN |
Spread | Variable From 1.7 Pips | None |
Commission | None | $4.5 per Lot |
Based on our investigations, beyond the mentioned spreads and commissions, there are no other types of fees, including inactivity, deposit, and withdrawal costs. Overall, the broker does a decent job in terms of costs.
Available Funding Methods on FXCess Broker
The broker offers 2 main account funding options for deposits and withdrawals. These two options include:
- Bank Transfers: Takes 2-5 working days for processing;
- Credit/debit cards: VISA and Mastercard with instant processing.
The available currencies for deposits include JPY, EUR, USD, and GBP. Withdrawals are processed through the same ConnectHub platform used for deposits.
FXCess currently doesn't offer e-wallet or cryptocurrency funding options, which may be a limitation for some traders.
Copy Trading Options and Investment Programs
The broker offers a Multi-Account Manager (MAM) service, which allows professional traders to manage multiple client accounts simultaneously. This feature is particularly useful for money managers and institutional clients.
While FXCess doesn't offer a traditional copy trading service like some other brokers, its MAM solution provides a way for less experienced traders to benefit from the expertise of professional traders. This brokerage offers this solution on a Personal Multi-Account Manager (PMAM) platform.
This firm offers a wide range of tradable instruments in a long list across multiple asset types:
- Forex: Over 80 currency pairs (e.g., EUR/USD, GBP/USD);
- Metals: Gold, silver, etc.;
- Indices: UK 100, Wall Street, Germany 10, and more;
- Commodities: Including US crude oil, Brent crude oil, coffee, sugar, etc.;
- Shares/Stocks: Popular companies like Apple, Google, Meta, and Microsoft;
- Futures: Futures contracts on available symbols.
With over 300 instruments available, FXCess provides ample opportunities for portfolio diversification and access to global financial markets.
Bonuses and Promotional Offers
This brokerage offers an attractive Introducing Broker (IB) Reward Program, allowing IBs to earn cash rewards for referring new active clients. The program includes:
- Monthly rewards up to $5,000;
- Tiered reward levels from Bronze to Master;
- Rewards based on referrals' net money inflow and traded lots.
In addition to the IB program, FXCess offers deposit bonuses such as:
- 100% Sharing Bonus;
- 40% Power Bonus;
- Credit Bonus.
These promotions are subject to terms and conditions, and traders should carefully review these before participating.
Support Services: Channels and Active Hours
Support is crucial in a financial firm and should be seriously considered. FXCess provides its customer services through various channels:
- Email: support@fxcess.com;
- Live Chat: Accessible through the website;
- Phone Call: +44 203 150 1111;
- Ticket Submission System: In the "Contact Us" page of the website.
The support team is available 24/5 and does not work on weekends. This is a drawback since some of the competitors provide 24/7 support.
Trust Scores and Evaluations
FXCess has received above-average reviews from traders across various platforms. However, on ForexPeaceArmy it has received a scam notice, which will be discussed below:
- Trustpilot: 3.9/5, more than 220 reviews;
- REVIEWS.io: 4.5/5, over 100 ratings;
- ForexPeaceArmy: Scam notice allegedly related to the scam broker IronFX.
While the claim made by FPA does not necessarily mean that FXCess is a scam company, traders should exercise extreme caution and conduct thorough research before making any deposits.
Conclusion and Final Words
FXCess provides 24/5 support with 4 contact channels [email, live chat, phone call, ticket.] The company has received an average score of 4.5/5 based on over 100 user ratings on REVIEWS.io. Furthermore, its trust score on the Trustpilot website is 3.9/5, with more than 220 reviews.
