FXCC Review 2024

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4.5

FXCC is #5 in our rankings of CFD brokers.

FXCC Facts & Figures

FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.

Pros
  • Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
  • As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
  • The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
  • There are no deposit fees except industry-standard mining charges on cryptos, which is advantageous for active traders
  • FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
  • There are no restrictions on short-term trading strategies like trading and scalping
Cons
  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
  • Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
  • There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
Awards
  • Best STP Broker 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) Europe 2018 - Global Banking & Finance Awards
  • Best STP Broker Europe 2018 - Global Banking & Finance Awards
  • Best Trading Account (XL Account) 2018 - JFEX Awards
  • Best MT4 Broker 2018 - JFEX Awards
  • Best Islamic Forex Broker (XL Account) 2018 - MENA Forex Show Awards
  • Best STP/ECN Forex Broker 2018 - MENA Forex Show Awards
  • Best Forex Trading Account 2017 - UK Forex Awards
Instruments CFDs, Forex, Indices, Commodities, Crypto
Demo Account Yes
Min. Deposit $0
Mobile Apps iOS & Android
Trading App

FXCC elevates mobile trading with the MT4 app on iPhone, iPad, and Android, perfect for traders with its reliable, advanced charting featuring 30 indicators, 9 timeframes and 3 chart types. It’s incredibly easy to dive into trading on the MT4 app through an FXCC account, with just 3 simple steps. The app offers the flexibility to trade a great selection of over 70 currency pairs and other popular markets on the go.

iOS App Rating
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4.8
Android App Rating
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4.4
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
Islamic Account Yes
Commodities
  • Gold
  • Silver
  • Precious Metals
  • Platinum
  • Palladium
  • Oil
CFDs FXCC offers a narrow range of CFDs beyond forex with a limited selection of metals, energies, indices and cryptos. However, it stands out with its high leverage up to 1:500, which will serve experienced traders looking to maximize their buying power while speculating on rising and falling prices.
Leverage 1:500
FTSE Spread Variable
GBPUSD Spread 1.0
Oil Spread 0.03
Stocks Spread NA
Forex FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.
GBPUSD Spread 1.0
EURUSD Spread 0.2
GBPEUR Spread 0.5
Assets 70+
Stocks You can trade a dozen major indices, including the Dow Jones, NASDAQ and S&P 500 with competitive spreads at FXCC. However, it’s disappointing that FXCC doesn’t offer any individual stocks - a huge drawback against competitors like CMC Markets, which offers thousands of shares.
Cryptocurrency FXCC offers 8 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. There are no restrictions on crypto trading strategies with Expert Advisors (EAs) also permitted.
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XMR
  • ZEC
  • DAS
  • XRP
Spreads Variable
Crypto Lending No
Crypto Mining No
Crypto Staking No
Auto Market Maker No
Risk Warning – Your Capital is at risk

FXCC is an award-winning forex and CFD broker that offers zero-commission investing to clients around the globe. This 2024 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.

FXCC MT4 CFD broker with positive customer feedback

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:

  1. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.
  2. FP Markets - Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
  3. Fusion Markets - Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.

FXCC Feature Comparison

FXCC Compared With Similar Brokers
FXCC Pepperstone FP Markets Fusion Markets
Rating 4.5 4.8 4 4.5
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Minimum Deposit $0 $0 $40 $0
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, FSA ASIC, VFSC, FSA
Bonus - - - -
Education Yes Yes Yes No
Platforms MT4 MT4, MT5, cTrader MT4, MT5, cTrader MT4, MT5, cTrader
Leverage 1:500 1:30 (Retail), 1:500 (Pro) 1:30 (UK), 1:500 (Global) 1:500
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Review FXCC
Review
Pepperstone
Review
FP Markets
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Fusion Markets
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Trading Instruments Comparison

Comparison of FXCC Trading Instruments
FXCC Pepperstone FP Markets Fusion Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Crypto Yes Yes Yes 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 No
Options No No No No
ETFs No Yes Yes No
Bonds No No Yes No
Warrants No No No No
Spreadbetting No Yes No No
Volatility Index No Yes Yes No

FXCC vs Other Brokers

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FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.