General Risk Warning: Before deciding to participate in the Forex trading market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. Intro Forex Brokers is not responsible for communication failures or delays when trading via the Internet. Intro Forex Brokers employs backup systems and contingency plans to minimize the possibility of system failure, and trading via telephone is always available.
Any opinions, news, research, analyses, prices, or other information contained on this website are provided as general market commentary, and do not constitute investment advice. Intro Forex Brokers is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Intro Forex Brokers Review has taken reasonable measures to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice.
FXCC offers trading on forex, indices, cryptos, energies and metals on the trusted MetaTrader 4 (MT4) platform. In this 2022 broker review, we log in to the Traders Hub to explore minimum deposits, regulations, leverage and demo accounts. Read on for the pros and cons of signing up for an FXCC trading account.
FXCC is a brand name of FX Central Clearing Ltd, a forex and CFD broker headquartered in Cyprus. The company was founded in 2010 and has since established itself as a strong competitor in the industry, holding a license with the CySEC and following the requirements laid out in MiFID.
FXCC follows an ECN/STP model, offering competitive trade execution and prices, with no intervention or re-quotes. Clients can trade on forex, cryptocurrencies, indices, metals and precious metals on the popular MT4 terminal.
FXCC offers MT4 to all clients, which is available on multiple devices as well as major web browsers, though not on Mac.
The platform, which is free to download, is packed with advanced trading features, including a built-in library of over 50 indicators for technical analysis. There is also access to market, pending and stop orders, plus embedded tick charts for accurate analysis. In addition, you can program your own automated trading robots using MetaTrader’s programmable language, MQL4.
A Multi Terminal option is available for investors who wish to manage multiple accounts on the same platform. Clients can hedge, scalp and simultaneously trade on an unlimited number of accounts.
For professional traders, MAM (Multi Account Manager) software is available as part of the MT4 platform. This service is ideal for investors who trade on their clients’ behalf. The MAM package has a variety of features including five lot allocations, Expert Advisors, unlimited accounts, plus STP on the master account for bulk order execution.
The platform is available to download on Windows PCs. Alternatively, iOS clients can use the app on their phones or tablets.
Assets & Markets
FXCC offers 70+ currencies including major USD pairs, minors and exotics. The minimum price fluctuation when trading forex is 0.00001. The spot metals selection is made up of gold, silver, platinum and palladium. US and UK crude oil are also available.
Eight cryptocurrencies are provided, including Bitcoin (BTC), Ethereum (ETH), and Monero (XMR). The minimum contract size is 1 of the respective token, for example, 1 BTC.
In addition, 12 indices are available to live account holders. This includes trading opportunities on the Dow Jones and NASDAQ in the US, the FTSE in the UK, plus the CAC in France.
There is no trading on individual shares.
Spreads & Commissions
Live spreads average at 0.2 pips for EUR/USD and around 1.0 pip for GBP/USD. FXCC has a webpage with a 15 minute average spread chart for major instruments, including spot gold and silver.
Importantly, all instruments benefit from zero commissions. This makes FXCC a low-cost trading brokerage when compared to alternatives.
Clients will also need to pay rollover fees as well as a $5 dormancy charge on accounts that have been inactive for 120 days.
Leverage is available between 1:1 and 1:500 for non-EU clients. Forex, metals, energies and indices can be traded with rates of up to 1:500, while cryptos are capped at 1:10, with the exception of Bitcoin at 1:10.
There is also a margin calculator that is free once you have registered in the Traders Hub.
The MT4 mobile app allows you to connect to your investing account from anywhere. The state-of-the-art platform receives good feedback and reviews online for its easy-to-use interface and reliability.
The application includes 30 technical indicators, 9 timeframes and a live stream of market prices. It also comes with an economic news feed and complete trading history. In addition, traders can make deposits and withdrawals through the mobile app.
You can download the MT4 app onto iPhone/iPad or Android devices and begin trading straight away using your login credentials.
FXCC Deposits & Withdrawals
There are plenty of funding methods available at FXCC, including bank cards, wire transfers, e-wallets such as Skrill and Neteller, plus alternative online payment methods like Rapid Transfer.
Accepted currencies include USD, EUR and GBP. Most deposits are processed within one hour. However, the majority of withdrawals take up to give working days to clear, apart from Skrill and Neteller which are processed in real-time.
Crypto payments are also accepted in several major coins such as BTC, ETH and USDT. Both deposits and withdrawals take up to 15 minutes.
There are no charges for making a deposit except for mining fees if you top up using crypto. However, there are fees on withdrawals for bank wires, cryptos and e-wallets. The broker’s website contains a full breakdown.
Investors can opt for a risk-free 30-day demo account to practice trading skills and test new strategies before committing real money. Each practice account is loaded with $10,000 and provides access to the MetaTrader 4 platform download and mobile app. Prospective investors can sign up for a paper trading account in a few simple steps.
Bonuses & Promotions
The current 100% First Deposit Bonus (up to $2000) promotion for non-EU clients doubles account equity with the first deposit. In order to qualify, you must open an ECN XL account.
For clients who maintain a minimum balance of $2500 and trading volume above 30 standard lots monthly, the broker provides free VPS access. This service offers improved security, speed and accessibility.
Regulation & Licensing
FX Central Clearing Ltd (FXCC) is authorized as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 121/10. The broker is also registered in Vanuatu as an investment company.
As a regulated entity in the EU, FXCC follows the Markets in Financial Instruments Directive (MiFID) which oversees investment services across the European Economic Area.
In addition, FXCC is a member of the Investor Compensation Fund (ICF) which insures clients in the event of insolvency. User funds are also segregated in separate bank accounts at leading international banks so your money is safe from scammers.
Our review was impressed with the comprehensive forex research and technical analysis insights within the blog section. There is an education center full of practical guidance on economic indicators, margin, slippage and more.
A selection of free downloadable e-books and PDFs is also provided. Beginners can benefit from the step-by-step guides on forex trading basics.
Other helpful features include a glossary of terms, an economic calendar and forex news.
The broker has two account types: ECN XL and ECN Promo.
The ECN XL account has spreads as low as 0.0 pips and $0 trading commissions. ECN XL allows hedging, scalping and provides VPS usage. The minimum trade size is 0.01 lots and the account offers free funding and support for Expert Advisors (EAs). Non-EU clients also benefit from leverage up to 1:500. Islamic-friendly trading conditions are available upon request.
The ECN Promo account is not yet live. The new account will provide additional flexibility and enhanced trading conditions for qualifying investors.
Note, corporate accounts are also available on request.
Our FXCC review was pleased with the following areas:
Regulated by the CySEC
100% First Deposit Bonus
Free deposits and withdrawals
Traders Corner Blog and other free educational resources
No deposit fees except industry-standard mining charges on cryptocurrencies
Limitations of FXCC include:
US traders not accepted
Copy trading not offered
No MetaTrader 5 download
No trading on individual stocks and shares
There is no platform available for macOS – Apple clients will have to download the iOS app on their mobile devices
FXCC’s daily operation time for trading is from 17:05 to 16:55 New York time (EST) from Sunday to Friday. You can find specific trading sessions for each instrument within the MT4 platform. Alternatively, the broker breaks down holiday hours and public closures on its website.
FXCC offers 24/5 multilingual customer support via telephone, email or live chat. The latter can be accessed by clicking on the chat logo in the bottom right-hand corner of the website.
The chat team can help with withdrawal problems, account types, registration queries and more.
To ensure the security of all trades, the MT4 platform transmits data between servers using 128-bit encrypted connections. FXCC also offers extended security algorithms using public-key cryptography, which should help keep scammers at bay.
MetaTrader 4 also provides two-factor authentication. This will send a unique passcode via email or telephone to validate a user’s login credentials.
FXCC is a low-cost online broker for trading forex, cryptocurrencies, metals, indices and commodities on the MT4 platform. The award-winning XL account comes with a no minimum deposit requirement and ECN pricing. Regulatory oversight from the CySEC is also a bonus. Create an account using the link below to claim your welcome offer today.
FXCC accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Before starting to trade, never invest too much money in one trade and always follow the rules of risk management. Focus on long-term profits instead of short-term trading. To make the right decisions, always follow financial news and events. It is necessary to create a clear trading plan and strategy and stick to it. Use technical analysis tools to support decision making. Focus on the difference between return and risk instead of just focusing on profit.
Avoid emotional pressure when trading and stay relaxed and patient. In addition, learn and constantly improve your skills and knowledge of Forex trading to achieve success in the field.
The above notes will help you get the best results when participating in forex trading and ensure that you minimize your risks and maximize your profits.