FXCC Review 2023
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FXCC is #4 in our rankings of CFD brokers. |
| FXCC Facts & Figures |
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FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis. |
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| Cons |
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| Awards |
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| Instruments | CFDs, Forex, Indices, Commodities, Crypto |
| Demo Account | Yes |
| Min. Deposit | $0 |
| Payments | |
| Min. Trade | 0.01 Lots |
| Regulated By | CySEC |
| MetaTrader 4 | Yes |
| MetaTrader 5 | No |
| cTrader | No |
| DMA Account | No |
| ECN Account | Yes |
| Social Trading | No |
| Copy Trading | No |
| Auto Trading | Expert Advisors (EAs) on MetaTrader |
| Signals Service | Yes |
| Mobile Apps | iOS & Android |
| Islamic Account | Yes |
| Commodities |
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| CFDs | Trade currencies, metals, energies, indices and cryptos with flexible leverage. 24/5 customer support is available to assist new clients while the MT4 platform comes with free tutorials and user guides. |
| Leverage | 1:500 |
| FTSE Spread | Variable |
| GBPUSD Spread | 1.0 |
| Oil Spread | Variable |
| Stocks Spread | N/A |
| Forex | FXCC offers leading fees compared to alternatives with spreads as low as 0.0 pips and $0 commission. Over 70 currency pairs are also available, providing more opportunities than most competitors. |
| GBPUSD Spread | 1.0 |
| EURUSD Spread | 0.2 |
| GBPEUR Spread | 0.5 |
| Assets | 70+ |
| Stocks | Trade a dozen major indices, including the Dow Jones, NASDAQ, S&P and DAX. Prices are competitive with zero commissions and a minimum price fluctuation of 0.01. |
| Cryptocurrency | Trade eight of the most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. High leverage up to 1:10 is available on BTC and 1:5 on other cryptos. |
| Coins |
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| Spreads | Variable |
| Crypto Lending | No |
| Crypto Mining | No |
| Crypto Staking | No |
| Auto Market Maker | No |
FXCC is an award-winning forex and CFD broker that offers zero-commission investing to clients around the globe. This 2023 broker review will explore the firm’s primary features, such as regulation, account types, leverage rates and customer support options. Read on to discover whether you should sign up for an FXCC account today.
About FXCC
FX Central Clearing Ltd, or FXCC, has operated in the forex and CFD investing space for over ten years. Not to be confused with the unrelated educational service GoldFXCC, the brokerage is based in Vanuatu and regulated in Cyprus by CySEC.
The broker prioritises transparency and client experience, following a pricing model that does not involve taking positions against its clients. Moreover, by utilising hybrid ECN/STP account types, FXCC offers competitive spreads while eliminating trading commissions.
Assets
Forex
Over 70 currency markets are on offer, including major, minor and exotic pairs. The minimum position size for all forex markets is 0.01 lots.
Index
FXCC offers CFDs on 12 leading global indices, including the S&P 500, UK FTSE 100 and Japanese Nikkei 225. Sadly, exotic indices like the VIX 75 volatility index and US Dollar index are not available.
Commodities
A competitive range of commodities markets forms the backbone of any serious CFD brokerage and, unfortunately, FXCC is lacking in this regard. While clients can access five precious metals contracts, covering gold, silver, palladium and platinum spot markets, there are a mere two energies markets (UK Brent oil and US Crude oil) and no soft commodities.
Cryptocurrency
Crypto enthusiasts will be pleased to hear that the broker supports eight blockchain-based CFDs. Big names such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash are available, as well as altcoins Monero, ZCash, Dash and Ripple. While crypto derivatives are unavailable from many brokers operating in the UK due to an FCA ruling, FXCC’s CySEC regulation means that they can offer crypto CFDs to UK clients.
Leverage
- Forex: 1:500
- Bitcoin: 1:40
- Altcoins: 1:10
- Indices: 1:500
- Commodities: 1:500
Clients can access a margin calculator in the trader’s hub to preview how different leverage levels would affect a position.
Trading Platforms
FXCC only supports one trading platform: MetaTrader 4. While some may see this as restrictive, MT4 is the industry’s most popular platform for good reason.
MetaTrader 4 offers numerous features, including comprehensive charting tools for technical analysis, a recent asset news feed, advanced order options, custom indicators and expert advisor integration. With demo account support to help new traders learn the platform, MT4 caters to investors of all experience levels.
MetaTrader 4
While MetaTrader 4 handles all trade positions, the FXCC trader’s hub is where clients can access account information and settings, as well as manage the deposit and withdrawal of funds.
Mobile App
For clients that wish to monitor and add to positions on the go, FXCC supports the MetaTrader 4 mobile app, which is available to download for both Android and iOS. Clients can also log in to the trader’s hub from a mobile device for account management.
Account Types
FXCC currently only offers one account, called ECN XL. This account features a hybrid ECN/STP execution system to provide zero commission trading while maintaining competitive spreads. There is no account minimum and three available base currencies, GBP, USD and EUR.
Spreads start from 0.0 pips for the EUR/USD forex pair but are variable and fluctuate throughout the trading day. Spreads on less frequently traded forex pairs and CFDs are higher, though this is the norm for all brokers with no-dealing desk (NDD) execution models.
Demo Account
Clients can practise investing on the provided risk-free demo account before committing to a full FXCC account sign up. Demo users are given 10,000 units of their preferred currency to familiarise themselves with the forex and CFD markets on the MT4 platform.
Islamic Account
FXCC also offers a swap-free account variant for clients that cannot pay overnight interest charges due to their religious beliefs. However, equivalent costs are taken in the form of account management fees.
Trading Fees
While FXCC does not charge commissions on any markets, the platform has several other fee structures in place. One such charge is overnight fees, which can be viewed for each asset through the MetaTrader 4 platform.
The broker also levies an inactivity fee on accounts that sit dormant for over 120 days. This charge is $/£5 per month, effective after the qualifying period but it does not apply to accounts with a zero balance.
Payment Methods
An area in which FXCC excels is its funding options. With a total of 20 available methods for deposits and withdrawals, the broker ensures that clients worldwide can top up their accounts hassle-free.
Accepted deposit and withdrawal methods include Visa and MasterCard credit and debit cards, bank wire transfer, Skrill, Neteller and crypto transaction service BitPay. All deposit methods are free and several options involve no minimum deposit. Deposits can take up to 15 minutes to process.
Withdrawals are free for card transactions but subject to fees for all other forms of payment. For example, many are charged standard bank wire fees that sit between $30 and $45.
Promotions & Offers
Many brokers use special offers to entice new customers to sign up, such as a no deposit bonus. FXCC is no exception to this and offers new clients a 100% deposit match bonus of up to $2,000 on their first deposit following registration.
In addition, both new and existing FXCC clients can take advantage of a free virtual private server (VPS) for round the clock automated trading.
Safety & Regulation
Unsurprisingly, safety is often a primary concern for investors when browsing for a new broker, with many scammers operating in the forex and CFD trading space. While FXCC is a reputable company and broker, regulation from CySEC does not offer the protection and assurance that a regulator like the FCA does.
In terms of safety measures, the separate login details for the MetaTrader 4 account to the FXCC trader hub adds a layer of protection. However, two-factor authentication (2FA) is not available.
Education
Education is one of FXCC’s strongest attributes, with a learning centre sitting on the website complete with articles on forex trading essentials, strategy examples and chart reading.
While the broker does not run daily live streams, the platform does provide a dedicated research blog with news on upcoming economic events and price analyses of popular markets.
Advantages
- Regulated
- MT4 access
- Crypto CFDs
- Zero commission
- High leverage rates
- No account minimum
- Good educational content
- ECN/STP hybrid execution model
Disadvantages
- No equities
- Limited assets
- Not FCA regulated
- One account option
Customer Support
Whether you have withdrawal problems, require help using MT4 or have a general inquiry about the broker, speedy and effective customer service is a must.
In addition to an FAQ section on its website, FXCC operates a responsive live chat service that runs alongside the forex markets 24/5 and a support email address for more complex issues. Clients that prefer to talk to an authentic voice can phone the support contact number, which is free for UK based clients.
- Phone: +44 203 150 0832
- Email: support@fxcc.net
Trading Hours
FXCC follows the standard forex and CFD 24/5 market hours, though clients can manage their accounts through the trader’s hub at any time.
FXCC Verdict
FXCC is a reputable, high-leverage broker with forex, index, commodity and crypto CFDs available through the MT4 trading platform. Moreover, the firm combines ECN and STP execution models to provide a low spread, zero commission investment experience. However, some competitors may have an edge in terms of asset choice and regulation quality.
FAQ
Is FXCC A Good Broker?
There are many positive aspects of FXCC, such as high leverage rates of up to 1:500, zero-commission trading and a risk-free demo account.
Does FXCC Have Good Regulation?
While FXCC is regulated in Cyprus by the CySEC, this licensing does not offer clients the protection of a major body like the FCA.
Is FXCC Trustworthy?
FXCC has been operating as a legitimate broker for over a decade and has accumulated many positive client reviews in this period.
Are FXCC & GoldFXCC Affiliated?
The FXCC brokerage and the education and signals service GoldFXCC are not affiliated.
Is FXCC Available In Indonesia?
FXCC is available to investors in almost 200 jurisdictions, including the UK, Australia and Indonesia.
Compare FXCC with Other Brokers
These brokers are the most similar to FXCC:
- Pepperstone - Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
- Avatrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support.
- FP Markets - FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.
FXCC Feature Comparison
| FXCC | Pepperstone | Avatrade | FP Markets | |
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| Rating | 4.5 | 4.8 | 4.9 | 4 |
| Markets | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto |
| Minimum Deposit | $0 | $0 | $100 | $100 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Demo Account | Yes | Yes | Yes | Yes |
| Regulators | CySEC | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA | ASIC, CySEC, ESMA |
| Bonus | - | - | - | - |
| Education | Yes | Yes | Yes | Yes |
| Platforms | MT4 | MT4, MT5, cTrader | MT4, MT5 | MT4, MT5, cTrader |
| Leverage | 1:500 | 1:30 (Retail), 1:500 (Pro) | 1:30 (Retail) 1:400 (Pro) | 1:30 (UK), 1:500 (Global) |
| Visit | ||||
| Review | FXCC Review |
Pepperstone Review |
Avatrade Review |
FP Markets Review |
Trading Instruments Comparison
| FXCC | Pepperstone | Avatrade | FP Markets | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | No | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | Yes | Yes |
| Silver | Yes | Yes | Yes | Yes |
| Corn | No | Yes | Yes | Yes |
| Futures | No | No | No | Yes |
| Options | No | No | Yes | No |
| ETFs | No | Yes | Yes | Yes |
| Bonds | No | No | Yes | Yes |
| Warrants | No | No | No | No |
| Spreadbetting | No | Yes | Yes | No |
| Volatility Index | No | Yes | Yes | Yes |
FXCC vs Other Brokers
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| FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis. | ||