FXCC Review – Is FXCC Scam or Satisfactory as a Broker?

FXCC Review

It’s a brokerage company that involves trading and it was launched in Cyprus and it stands for FX Central Clearing. It basically helps forex exchange professionals’ trade cryptocurrencies, normal currencies, metals and indices with the help of technology. FXCC uses computers and automation to give clear prices with a low spread thus a more accurate representation and its different types of ECN accounts are created for users with different needs. Since everything happens through software, it is quick and all orders are marched there.

Advantages and disadvantages

FXCC has been acknowledged by multiple users globally and has been given a few awards as well in the forex brokers list. The firm provides expert help and opinions and the technology used is top-notch as well. However, the platform is provided only on MT4 which is old and there aren’t many study tools available and they can be out of date.

Legit or fake

It’s a safe low-risk trading broker that is allowed by an EU member state, which also works in MFID. The rule makers who themselves follow rules said that the trader’s fundings are secured in different ways and also help the client regarding firm insolvency and investor compensation funds. Its servers are located in Vanuatu which does not have hard laws which can make it a risky investment however since it is authorized by EU, it is safe to trade with FXCC.

Anchorage

This is a tool that improves the profit potential by multiplying the traders balance but this tactic should be used with caution since it increases the risk of loss too. Different rates of leverages are used for different commodities with an average of 1:20 via ESMA rulings. Europe traders and Cyprus FXCC traders can use leverage at different rates for different assets.

Types of accounts

A variety of accounts are offered; mainly three which are segmented with the help of experience, demands, and trading amount all of which are ECN accounts. Some even offer markups and commissions. If you trade using FXCC, a total of thirty different types of real-world currencies will be available such as USD, GBP, and EUR along with different tools such as SMS, analysis, and VPS.

Fee structures

FXCC doesn’t charge commission on trading so the overall rates are low and different pips are charged for different spreads. FXCC has no deposit, withdrawal fees just like any other brokerage however, its spreads for EUR and USD re almost twice as low as LCG. There is also a fee that is charged for keeping assets longer than 24hrs.

Down payment and termination

Both withdrawals and deposits can be made globally through card, VISA, wire, Skrill, Yandex, etc. are available as well. The smallest deposits are $100 for FXCC while other brokers can charge up to 500$ as a minimum deposit. As for withdrawals, the broker covers a processing fee in deposits and withdrawals.

Trading platforms

FXCC can be used by any operating system and is facilitated with technical and analytical indicators and charts. Moreover, FXCC can be downloaded on a laptop or phone and provides easy management of different accounts. Many different types of software and tools are provided for free and their different features in different types of accounts can accommodate the user’s requirements. The firm also allows free VPS trading Furthermore; traders can also utilize virtual private servers that help in providing performance and speed.

Learning

All traders with any experience can learn more through the given resources regarding fundamental and technical analysis which is updated on a daily basis which helps people make well informed and thought of decisions.

Conclusion

Overall, FXCC is a firm that provides engaging trading chances. Different accounts are made with different features to fit the client’s requirements and a low minimum deposit compared to others allows newbies to start training with ease. Finally, FXCC also provides a safe area for trading and professional opinion and CS is also provided if needed by the client.