Review and feedback on FXCC: is it worth trusting the broker
Review and Analysis of FXCC: Is the Broker Reliable
FXCC – a company founded in 2010. Currently offers over 200 CFD assets. The broker’s website fxcc.com features a user-friendly interface, educational materials, and attractive conditions for clients. However, negative user reviews raise doubts about the company’s reliability. In this review, we will consider all aspects of the broker’s operations.
Analysis of Registration Documents
FXCC is owned by FX Central Clearing Ltd. It holds licenses from two regulators:
- CySEC – the regulator is based in Cyprus. License number CIF 121/10 allows serving clients from Europe,
- Vanuatu FSC – licensed in Vanuatu. The license permits operations in many countries, except European ones.
Using offshore licenses is a common practice for many online brokers. However, traders express concerns about the reliability of such regulators. Additionally, FXCC is registered with the supervisory authorities of European countries, with the office address listed as Law Partners House, Kumul Highway, Port Vila, Vanuatu.
Analysis of Trading Account Conditions
The broker offers access to various assets, including securities, currencies, indices, precious metals, and commodities. On the fxcc.com website, you can choose one of the types of trading accounts:
- ECN Standard. Deposit from $10,000 to $100,000, 30 assets available, leverage 1:200,
- ECN XL. Popular account with a deposit from $100 to $10,000, leverage 1:300, 30 instruments,
- ECN Advanced Account. Requires a deposit of over $100,000, access to all assets, leverage 1:100.
Minimum lot size is 0.01, spreads are 0.1, hedging is available, technical analysis, and a personal manager. For a deeper understanding, a demo account on the MetaTrader 4 platform can be used.
Analysis of Deposit and Withdrawal Methods
FXCC accepts dollars, euros, and British pounds. The website offers a wide range of account funding methods, including VISA, MasterCard, electronic payment systems, and others. Funds are credited to the account within 1 hour, but for some payment systems, this process may take up to 5 days. Various withdrawal methods are also available, but verification is required.
Analysis of Trading Platforms
Trading is conducted on the MetaTrader 4 platform, which is popular among many traders. It features various functions such as charts, indicators, and trading advisors. Many users speak positively about this platform.
Educational and Market Analysis Opportunities
FXCC offers education for traders, including basic knowledge of CFDs, analysis tools, and more. The website provides various analytical materials such as calendars, daily summaries, and market reviews.
Bonuses and Loyalty
The website presents various promotions, bonuses, and reward programs for clients. Among the offers are bonuses on first deposits, loyalty programs, and others. Bonuses are designed to attract new clients, but the company’s reliability sometimes raises doubts.
FXCC Reviews
Traders’ opinions on FXCC are divided. Positive aspects are noted in the support service, but there are also negative aspects such as order execution delays, issues with the mobile application, and others.
FXCC Pros and Cons
Pros:
- Presence of licenses and registration,
- Well-drafted user agreement,
- Interesting account conditions, zero swaps,
- Good selection of assets.
Cons:
- Many negative online reviews,
- Deposit blocking with insufficient balance,
- Issues with opening and closing trades on time,
- Lack of auto trading and PAMM accounts,
- Restriction on asset access with small investments.
Author: Nikolay Filippov
Source: fxcc.com