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/10
The WikiFX Score of this broker is reduced because of too many complaints!

FXCC

Saint Kitts and Nevis|10-15 years|
Straight Through Processing(STP)|MT4 Full License|Regional Brokers|United Kingdom European Authorized Representative (EEA) Revoked|High potential risk|

https://www.fxcc.net/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

FXCC1-Live

Germany
MT4
5

Influence

A

Influence index NO.1

Canada 5.43
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

5
Server Name
FXCC1-Live MT4
Server Location Germany

Influence

Influence

A

Influence index NO.1

Canada 5.43

Surpassed 21.24% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 203 150 0832
info@fxcc.net
https://www.fxcc.net/
Suite 7, Henville Building, Main Street, Charlestown, Nevis

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Contact number

English

+44 203 150 0832

Other ways of contact

Broker Information

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Company Name

FX Central Clearing Ltd

Abbreviation

FXCC

Platform registered country and region

Saint Kitts and Nevis

Company website
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Pyramid scheme complaint

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WikiFX Risk Alerts 2
Previous Detection : 2024-07-15
  • The number of the complaints received by WikiFX have reached 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 549790) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

FXCC · WikiFX Survey
Good Visiting FX Central Clearing Ltd in Cyprus
Cyprus

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    FXCC · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    Information Details
    Company Name FXCC (Forex Central Clearing Ltd)
    Founded 2010
    Headquarters Limassol, Cyprus
    Regulations Regulated by CySEC
    Tradable Assets Forex, Commodities, Indices, Cryptocurrencies
    Account Types Standard Accounts, ECN Accounts, Islamic Accounts
    Minimum Deposit No minimum deposit
    Maximum Leverage Ratio Up to 1:500
    Deposit/Withdraw Methods Bank Wire Transfer, Credit/Debit Cards, E-Wallets
    Trading Platforms MetaTrader4 (MT4), MetaTrader5 (MT5)
    Customer Support E-mail, live chat, and phone
    Educational Content Tutorials, webinars, and market analysis
    Bonus Offering Available

    Overview of FXCC

    FXCC (Forex Central Clearing Ltd) is a brokerage firm specializing in foreign exchange (forex) trading. Founded in 2010 and headquartered in Limassol, Cyprus, FXCC is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 121/10, ensuring compliance with financial and operational standards to safeguard client interests.

    With a focus on providing a robust trading experience, FXCC offers a diverse range of tradable assets, including forex pairs, commodities, indices, and cryptocurrencies. Traders can access major, minor, and exotic currency pairs, enabling them to diversify their portfolios and explore various market opportunities.

    FXCC caters to different trading preferences by offering multiple account types. These include standard accounts, ECN (Electronic Communication Network) accounts, and Islamic accounts suitable for traders adhering to Shariah principles. Each account type may have specific features and trading conditions tailored to meet the needs of different traders.

    basic-info

    Is FXCC regulated?

    FXCC (Forex Central Clearing Ltd) is a regulated brokerage firm. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 121/10 and Nevis with registration number C 55272. Being regulated by CySEC signifies that FXCC operates in compliance with the regulatory framework and standards set forth by the CySEC.

    Regulation by CySEC is significant as it ensures that the company adheres to strict financial and operational guidelines designed to protect the interests of clients. It includes measures such as segregation of client funds, ensuring transparency in pricing and execution, and implementing risk management protocols.

    The regulatory oversight provided by CySEC aims to maintain the integrity of the financial markets and foster a fair and secure trading environment for investors. It also offers a certain level of recourse for clients in case of disputes or issues that may arise during the course of their trading activities.

    Pros and Cons

    FXCC, a regulated broker authorized by the Cyprus Securities and Exchange Commission (CySEC), offers several advantages and disadvantages. On the positive side, FXCC provides a wide range of tradable assets, including forex, commodities, indices, and cryptocurrencies, allowing for diversification and trading opportunities. The broker also offers competitive leverage ratios, multiple trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and various channels of customer support, ensuring prompt assistance.

    However, some drawbacks include limited account types, a non-transparent fee structure that may make it challenging for traders to understand costs, limited educational resources compared to other brokers, limited bonus offerings, and the possibility of withdrawal fees. Traders should carefully consider these factors and conduct their own research to determine if FXCC aligns with their specific needs and preferences.

    Pros Cons
    1. Regulated by CySEC, providing client protection and regulatory oversight. 1. Limited availability of tradable assets compared to some other brokers.
    2. Multiple account types to cater to different trading preferences. 2. Minimum deposit requirements may be relatively high for certain account types.
    3. Competitive spreads and fast order execution, particularly in ECN accounts. 3. Customer support may have limited availability during certain hours.
    4. Availability of popular trading platforms like MT4 and MT5. 4. The educational content may not be as extensive or comprehensive as some competitors.
    5. Support for various deposit and withdrawal methods, offering convenience. 5. Limited or no information available regarding bonus offerings or promotions.

    Market Instruments

    FXCC offers a range of market instruments for trading. Here are some common market instruments that the company typically provides:

    Forex Currency Pairs: FXCC specializes in forex trading and offers a wide selection of currency pairs. This includes major currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs such as USD/ZAR or AUD/NZD. These currency pairs allow traders to participate in the global foreign exchange market and take advantage of currency fluctuations.

    Commodities: FXCC may provide trading opportunities in various commodities such as gold, silver, crude oil, natural gas, and agricultural products. Trading commodities allows investors to speculate on the price movements of these tangible assets, which are influenced by factors such as supply and demand dynamics, geopolitical events, and economic indicators.

    Indices: FXCC may offer trading on popular stock market indices like the S&P 500, Dow Jones Industrial Average, FTSE 100, or Nikkei 225. Trading indices allows investors to gain exposure to a basket of stocks representing a particular market or sector, providing opportunities to profit from the overall performance of the index.

    Cryptocurrencies: As cryptocurrencies gain popularity, FXCC may provide trading opportunities in digital currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. Trading cryptocurrencies allows investors to speculate on their price movements without owning the underlying assets.

    products
    Pros Cons
    1. Wide range of forex currency pairs available 1. Limited availability of other asset classes such as stocks or bonds.
    2. Potential for significant profit opportunities in the forex market due to high liquidity and volatility. 2. Forex trading carries inherent risks, including potential losses due to market fluctuations.
    3. Opportunity to diversify trading strategies and explore various currency pairs based on market conditions. 3. Limited exposure to other asset classes may limit diversification options for traders.
    4. Availability of popular commodities for trading 4. Commodities trading may be subject to supply and demand factors, geopolitical events, and other external influences that can impact prices.
    5. Potential for trading cryptocurrencies, providing exposure to a rapidly growing and evolving digital asset class. 5. Cryptocurrency markets can be highly volatile and subject to regulatory changes, making them riskier compared to traditional financial instruments.

    Main Account Types

    FXCC typically offers multiple account types to cater to different trading preferences, including ECN XL Accounts in either Standard Account type Islamic Account type. While the specific account types may be subject to change or updates, the website primarily provides information on the ENC XL Account type. Here is a short description of ENC XL Accounts and each common account type that FXCC may provide:

    ECN XL Accounts: ECN (Electronic Communication Network) XL accounts are known for providing direct market access. These accounts typically offer tighter spreads and faster order execution since they connect traders directly to liquidity providers, such as banks and financial institutions. ECN accounts may have variable spreads and charge a commission per trade.

    Standard Accounts: Standard accounts are designed for traders who prefer a straightforward trading experience. These accounts typically have fixed or variable spreads and may require a minimum deposit to open. They offer access to the available tradable instruments and basic trading features.

    Islamic Accounts: FXCC may offer Islamic accounts for traders who adhere to Shariah principles. Islamic accounts operate in compliance with Islamic finance principles, ensuring that no interest (swap) charges are applied on overnight positions. These accounts may have specific terms and conditions to meet Shariah requirements.

    According to their website, the main type of account launched is the ECN XL type. The ECN XL type is described as including no minimum deposit with a 100% first deposit bonus, a Lot Size of 0.01 and a 1:500 max leverage. The ECN XL account also allows hedging as well as gives the option between a Standard Account and an Islamic Account.

    In conclusion, FXCCs offered ECN XL account gives primary deposit incentive, the ability to hedge funds, and a choice between two account types.

    account-types

      Set-by-set on opening an account

      1. Visit the FXCC official website: Use a web browser to navigate to the official website of FXCC. (https://www.fxcc.com/)

      2. Locate the “Open Account” button: Look for a prominent button or link on the website's homepage that leads to the account registration process. It's often located in the top right corner or the main navigation menu.

    open-account

    3. Choose the account type: Select the desired account type based on your trading preferences and requirements. FXCC may offer different account options, such as standard accounts, ECN accounts, or Islamic accounts. Review the account types available and choose the one that suits you best.

    Leverage

    FXCC typically provides leverage ratios ranging from 1:1 up to 1:500. However, it's important to note that leverage requirements can be subject to change and may be adjusted based on regulatory guidelines and market conditions.

    Market Instruments FXCC FXPro IC Markets FBS Exness
    Forex Currency Pairs Up to 1:500 Up to 1:500 Up to 1:500 Up to 1:3000 Up to 1:2000
    Commodities Up to 1:100 Up to 1:20 Up to 1:500 Up to 1:1000 Up to 1:200
    Indices Up to 1:100 Up to 1:20 Up to 1:200 Up to 1:1000 Up to 1:200
    Cryptocurrencies Up to 1:5 Up to 1:2 Up to 1:5 Up to 1:1000 Up to 1:200

    Spreads & Commissions (Trading Fees)

    The specific trading fees charged by FXCC can vary depending on various factors such as the type of account, trading instruments, and market conditions. A spread commission, also known as a spread markup, is a fee charged by a broker for executing trades on behalf of traders. It is a common pricing model used in financial markets, particularly in forex trading. FXCC typically charges spreads, which is the difference between the bid and ask price of a trading instrument. Spreads can vary based on market liquidity, volatility, and the type of account. ECN accounts usually have tighter spreads compared to standard accounts but may charge a commission per trade. ECN accounts at FXCC may have a commission structure where a fixed fee is charged per lot traded. This commission is separate from the spreads and is applicable to trades executed in ECN account types. The specific spread and commission rates can vary based on the account type, trading instrument, and market conditions. Traders should carefully review the details provided by FXCC to understand the applicable spreads and commissions for their trading activities. It's important to consider the spread and commission model, along with other factors such as execution speed and overall trading conditions, when assessing the cost of trading with FXCC.

    Bonuses

    Typically, FXCC offers bonuses which may include welcome bonuses for new clients, deposit bonuses that provide additional funds based on the amount deposited, and loyalty or referral bonuses for existing clients who refer new traders or maintain a long-term relationship with the broker. These bonuses can provide traders with additional trading capital or rewards, potentially enhancing their trading experience.

    It's important for traders to thoroughly review the terms and conditions associated with any bonuses offered by FXCC, as there are usually requirements that need to be fulfilled before the bonus can be withdrawn. Such requirements may include minimum trading volumes, specific timeframes, or other criteria set by the broker.

    Trading Platform

    FXCC typically offers popular trading platforms to its clients. While the specific platforms provided may vary or evolve over time, here are some common trading platforms that FXCC may offer:

    MetaTrader 4 (MT4): MT4 is a widely used and highly regarded trading platform in the industry. It offers a user-friendly interface, advanced charting tools, a wide range of technical indicators, and automated trading capabilities through Expert Advisors (EAs). MT4 is known for its stability, customization options, and extensive community support.

    Multi Account Manager (MAM): MAM is a money manager that can execute trades on the master account, and those trades are automatically replicated in the connected client accounts. This allows for efficient management and execution of trades across multiple accounts without the need to individually place trades for each client.

    Broker Trading Platforms Offered
    FXCC MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile Trading Platforms
    FXTM MetaTrader 4 (MT4), MetaTrader 5 (MT5), FXTM Trader (Mobile App)
    Exness MetaTrader 4 (MT4), MetaTrader 5 (MT5), Exness Trader (Mobile App)
    Pepperstone MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Smart Trader Tools (MT4/MT5 Plugin), Mobile Trading Platforms
    FP Markets MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, Mobile Trading Platforms

    Deposit & Withdrawal

    FXCC's minimum deposit requirement typically starts from $100 or its equivalent in other currencies. However, it's important to note that the minimum deposit amount can vary based on the chosen account type and the payment method used. Different account types may have different minimum deposit requirements, and certain payment methods may have their own minimum deposit limits imposed by the respective payment processors.

    payment-methods

    FXCC may charge withdrawal fees, but the exact fees and conditions can vary depending on several factors, including the withdrawal method, the account type, and the amount being withdrawn. It's advisable to review the information provided on the official FXCC website or contact their customer support directly for the most accurate and up-to-date details regarding withdrawal fees.

    Customer Support

    FXCC offers customer support to assist their clients with inquiries, technical issues, and other concerns. The company provides various channels through which customers can reach their customer support team. Here are some common customer support options provided by FXCC:

    customer-support

    Phone Support: FXCC may offer phone support, allowing customers to directly speak with a representative. The contact numbers for phone support are typically provided on their website or in the client portal. Customers can call the provided phone numbers during the specified working hours to seek assistance.

    Email Support: Customers can contact FXCC's customer support team via email. This method allows customers to describe their queries or issues in detail and receive a response from the support team. The email address for support is typically available on the FXCC website.

    Live Chat: FXCC may offer a live chat feature on their website. This enables customers to engage in real-time text-based conversations with a support representative. Live chat is often preferred for its convenience and quick response times.

    Online Contact Form: Some brokers, including FXCC, may provide an online contact form on their website. Customers can fill out the form with their details and submit their queries or concerns. The support team will then respond via email or the preferred communication method.

    Educational Resources

    FXCC may offer a range of educational resources to assist traders in enhancing their knowledge and skills. Here are some potential education resources that FXCC may provide:

    educational-resources
    educational-resources

    Video Tutorials: FXCC may offer video tutorials covering various trading topics, including platform tutorials, trading strategies, technical analysis, and risk management. These videos can provide visual and step-by-step guidance for traders.

    Webinars: FXCC may conduct webinars on a regular basis, featuring market experts and experienced traders. Webinars can cover a wide range of topics, including market analysis, trading techniques, and risk management. Participating in webinars allows traders to gain insights and interact with industry professionals.

    Trading Tools: FXCC may provide traders with access to trading tools, such as economic calendars, market analysis tools, and indicators. These tools can help traders make informed trading decisions and analyze market trends.

    eBooks: FXCC may offer educational eBooks covering various aspects of trading, including trading psychology, technical analysis, fundamental analysis, and risk management. eBooks provide in-depth information and can be a valuable resource for traders of different experience levels.

    Glossaries: FXCC may provide a glossary of trading terms and definitions. This can be helpful for new traders or those who want to clarify specific trading terminology.

    Trading Academies: FXCC may have a dedicated trading academy or educational section on their website. These academies often provide structured learning materials, courses, quizzes, and interactive learning resources to help traders develop their skills.

    Market Insights: FXCC may offer regular market insights, including market analysis, daily/weekly market summaries, and economic news updates. These insights can provide traders with a better understanding of market trends and potential trading opportunities.

    Conclusion

    FXCC is a regulated forex broker headquartered in Cyprus. They offer a wide range of financial services, including forex, commodities, indices, and cryptocurrencies. Traders can access these markets through popular platforms like MT4 and MT5. With multiple account types and competitive leverage ratios, FXCC caters to different trading preferences. They provide customer support via phone, email, live chat, and online forms. FXCC also offers educational resources such as tutorials, webinars, and market insights.

    FAQs

    Q: Is FXCC a regulated broker?

    A: Yes, FXCC is a regulated broker authorized and supervised by the Cyprus Securities and Exchange Commission (CySEC).

    Q: What is the minimum deposit requirement at FXCC?

    A: The minimum deposit requirement at FXCC typically starts from $100 or its equivalent in other currencies, although it may vary based on the chosen account type.

    Q: What trading platforms does FXCC offer?

    A: FXCC offers popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing traders with a reliable and feature-rich trading environment.

    Q: Can I trade multiple asset classes with FXCC?

    A: Yes, FXCC offers a range of tradable assets including forex, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.

    Q: How can I contact FXCC's customer support?

    A: You can reach FXCC's customer support through various channels, including phone support, email support, live chat on their website, or by filling out an online contact form.

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    User Reviews

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    SUNNY90656
    more than one year
    FXCC is best broker I had ever used, and everything on this platform seems so perfect. It offers the best customer support, always fixing my problems patiently. I am so lucky to find this broker.
    2023-02-20 09:52
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    0
    Queel
    more than one year
    No deposit threshold and it is regulated and offers demo accounts on the MT4 platform. So who wouldn't love such a broker? Very nice! Anyway, pls be careful that many brokers will distort the facts and beautify everything to attract traders to invest. Everyone must polish their eyes before investing!
    2023-02-13 15:54
    Reply
    0
    0
    as
    more than one year
    When I found out that they hadn't been processing my withdrawal application, I suddenly realized that I seemed to have been cheated. And I have a very strong feeling that I'm not going to get my money back. And the only thing I can do now is expose their hateful behavior on the Internet!
    2022-11-23 11:37
    Reply
    0
    0
    Syafrizal Rezpector
    more than one year
    Hi guys, I am here to write this review to warn you, this platform is nothing but a scam. They dream of taking all your money away, once you made a deposit, you can never get that money back, it is definitely not your ideal choice…
    2022-11-22 18:54
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