FXCC Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
3.07 3.07 / 5
Rated #64 of 66 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 20
Website Language
English
Support Language
English
AlertAccepts UK Clients. Average spread EUR/USD 2 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4 platform supported. FXCC is regulated by CySEC. 66% of traders lose money with this provider.

FxScouts follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

Established in 2010, FXCC is a CySEC-regulated Forex/CFD broker. An STP/ECN broker, FXCC has three live account types. Minimum deposit on the most popular account (ECN XL Account) is 100 USD, leverage is up to 1:30 on FX pairs, and its variable spreads average around 0.6 pips. It offers commission-free trading, but unlike traditional STP/ECNs, it charges a significant spread mark-up on all accounts.

Trading platform choice is limited to MT4, but is available on multiple devices as well as major web browsers.  FXCC provides minimal educational material and lacks in market research and analysis compared to its peers.  Customer service is available 24/5 via live chat, telephone and email.  

 

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
111003/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
110002/ 5
Assets Available
1110.503.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Bonuses
200% Deposit bonus up to $10,000 + cashback

Account Information

Base Currencies
EUR, USD, GBP
Number of FX Pairs
28
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Min. Spread
0.10 pips
Commission
None
EUR/USD
0.4 pips
GBP/USD
0.4 pips
USD/JPY
0.4 pips
Max. Leverage
200:1

Company Details

Company Name
FX Central Clearing Ltd
Founded
2010
Website
Office Locations
Cyprus

Pros

  • Tight spreads

Cons

  • MT4 only
  • Limited education
  • Limited market analysis
  • Expensive withdrawals
  • High minimum deposit

Is FXCC Safe?

FXCC is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a part of the European Markets in Financial Instruments Derivatives (MiFID), which gives it the freedom to operate in the entire European Union under the European Economic Area (EEA) agreement.  Its authorization via the EEA also extends to the United Kingdom, allowing to provide services to British residents.  See the following list of FCXX Group registered companies:

  • FXCC Cyprus Ltd is regulated by the Securities and Exchange Commission (CySEC) under company registration number 258741.
  • FXCC Ltd is registered with various regulatory bodies of EEA member states that allow the provision of our services in their jurisdictions.

FXCC deposits all client funds in segregated accounts, completely separate from any and all FXCC corporate accounts. FXCC also offers negative balance protection, and has the right to close all or part of the hedged positions in order to avoid the possible risk of negative balance due to wide spreads. 

Scroll for more detailsPreviousNext
Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
ECN/DMA
STP
2010
Cyprus

 

FXCC’s Trading Conditions

FXCC offers three standard accounts and a demo account.  All three standard accounts have hedging capabilities, allow automated trading and scalping, have a minimum transaction level of 0.1 lots.  Once your account reaches a Margin Level that equals to the Stop Out Level or below, the system will automatically close all open positions.

FXCC does not charge a fixed commission, but charges spread mark-ups on all of its accounts, rendering its spreads much wider than other STP/ECNs.  It is also not transparent for which account the spreads on the site refer to.  Leverage is up to 1:30 on all accounts. Most reputable STP/ECNs have between 3 and 10 execution venues; FXCC has only one – routed to a single execution venue in Cyprus.

FXCC Trading Conditions

FXCC only allow currencies to be dominated in USD, GBP or EUR, and trading sessions run from Monday 00:05 – Friday 23:55 GMT.  It also offers Islamic Swap Free accounts.  See details of the various accounts:

Scroll for more detailsPreviousNext
Account Types
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN Advanced
USD 100000
200:1
0.50
None
Account Details
ECN Standard
USD 10000
200:1
0.50
None
Account Details
ECN XL
USD 100
200:1
0.85
None
Account Details

Demo Account – The FXCC demo account expires after 30 days, which is not ideal for beginners. The demo account gives you a starting balance of 10,000 USD.  It allows you to view charts, news and analysis, get access to the full-featured MT4 platform and experience real-time prices and real forex market volatility.

ECN XL Account – FXCC won Best Forex Trading Account of 2017 (UK Forex Awards) for its ECN XL Account.  The minimum deposit is 100 USD, variable spreads start at 0,6 pips, and leverage is up to 1:30 on FX pairs.  Although it does not charge a commission on this account, it charges a spread mark-up of 0.8 pips.

FXCC Account Types

ECN Standard Account – Minimum deposit is 10,000 USD.  It provides access to 30 instruments, and it allows a leverage of up to 1:30.  With this account, clients are charged a spread mark-up of 1.5 pips for all FX pairs. 

ECN Advanced Account – Minimum deposit is 100,000 USD, it provides access to over 200 instruments, and leverage is up to 1:30.  Clients are charged a spread mark-up of 0,8 pips on FX pairs. 

Spreads and commissions

All FXCC accounts have variable spreads starting at 0,6 pips.  FXCC does not charge a commission but charges a spread mark-up across all accounts.  Most other STP/ECNs charge a flat commission fee per lot.   

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111003/ 5
EUR, USD, GBP
2 pips
USD 20
0.4 pips
0.4 pips
0.4 pips
0.0
111104/ 5
EUR, USD, GBP
1.30 pips
USD 10
0.3 pips
0.3 pips
0.3 pips
0.0
111003/ 5
EUR, USD, ZAR
0.80 pips
USD 8
0 pips
0 pips
0 pips
0.0

 

Deposits and Withdrawals

In order to comply with the Anti-Money Laundering Directive, withdrawal requests will only be sent the same way the funds were received and up to the initial deposited amounts.  FXCC offers many deposit and withdrawal methods.  Please see the following methods with terms and conditions:

  • Visa/Mastercard: Fees for deposits are 2.65% for USD, 1.50% for EUR and 2.8% for GBP, are usually processed within one hour. Withdrawal fees are 0.35 USD, 0.30 EUR and 0.30 GBP per transaction.  Withdrawals take 5 – 10 working days to clear.
  • Bank Wire Transfer: Estimated deposit transaction time is 5 – 7 business days, and fees are 2 – 5 USD/EUR/GBP per transaction. Withdrawal fees are 18 USD, 8 EUR and 18 GBP per transaction and take 5 – 7 business days to reach your account.
  • Neteller: Deposits fees are 3.2% + 0.29 USD/GBP/EUR per transaction and are processed in an hour.  Withdrawal fees are 2% for USD/EUR/GBP, and occur in real-time.
  • Skrill: Deposit fees are 2.5% + 0.29 USD/EUR/GBP, and are processed in an hour.  Withdrawals happen in real-time, but clients are charged 0.49 USD/EUR/GBP per transaction.
  • Sofort: Deposit fees are 2.5% = o.29 USD/EUR/GBP per transaction and are processed within 1 hour.  Withdrawals take 3 – 5 days to clear and fees are 0.49 USD/EUR/GBP per transaction.
  • Rapid: Deposit fees are 2% + 0.29 USD/EUR/GBP per transaction and are processed within an hour.  Withdrawals take 3 – 5 days to clear and fees are 0.49 USD/EUR/GBP per transaction.
  • Paysafecard: Deposit fees are 9% + 0.29 USD/EUR/GBP and are processed within an hour.  Withdrawals occur within 5 – 7 business days and the fees are the same as for a Bank Wire transfer.

FXCC charges a fee of 5 USD a month after 120 days of inactivity on accounts.

FXCC for Beginners

FXCC does not offer many educational materials for beginner traders compared to its peers.  It has a number of articles describing the benefits of an ECN and a glossary of terms, but does not offer training videos, trading seminars or courses.  It also lacks in up-to-date market analysis content, providing a basic daily technical analysis, economic calendar and ‘Traders Corner Blog’.  Its demo accounts also expire in 30 days. The international multi-lingual customer service team is available 24-hours a day, 5 days a week for all client account and technical questions, but its website is often not responsive, and it’s difficult to navigate the FAQs

Educational Material

As mentioned, FXCC has minimal educational content.  It does offer a number of downloadable PDF booklets that address Forex trading, but you have to register an account to access these materials.  All educational content is translated into over 80 languages.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course

 

Analysis Material

FXCC’s limited research and analysis section provides an up-to-date basic daily technical analysis, a morning roll call analysis, and a forex news section.   It also offers a ‘Traders Corner Blog’ with up-to-date trading news and an economic calendar for planning.  All market analysis material is fully translated into over 80 languages. 

Customer Support

The multi-lingual customer support team at FXCC is available 24/5 via telephone, live chat and email, but, as with all regulated brokers, cannot offer investment advice. 

Trading Platforms

FXCC offers traders the industry-standard MT4 platform.  All the necessary trading tools and resources are on hand to allow traders to conduct research and analysis, enter and exit trades and even use third-party automated trading software.  A built-in library of more than 50 indicators and tools streamline the analysis process, enabling traders to identify trends, and define various market shapes.  MT4 software also offers an impressive array of analytical tools, and nine timeframes are available for each financial instrument.  MT4 is available for PC, smartphones and tablets. 

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
111104/ 5
111104/ 5
Plus500

 

FXCC Trading Platforms

FXCC’s Trading Apps

FXCC supports mobile versions of all MT4 platforms, and customer service is available 24/5 to answer questions about the software and help with set-up.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review FXCC’s product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXCC would like you to know that: Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose all the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary.  FXCC does not provide services for United States residents and/or its citizens.

Overview

FXCC is a non-traditional, CySEC regulated STP/ECN broker. It offers the industry-standard MT4 platform, available for PC, mobile devices and tablets.  FXCC does not charge commission on any of its accounts, but charges a significant spread mark-up.  Minimum deposit for the ECN XL account is 100 USD.  Its variable spreads average at around 0.6 pips.

FXCC does not offer many educational materials compared to its peers, and it has a limited market analysis section.  The demo account expires after 30 days, rendering it difficult for beginners to get a grip on trading, but customer support is available 24/5.

Overall, FXCC is a non-traditional STP/ECN which lacks in educational and market analysis material.  Be aware of its trading conditions: unlike other STP/ECNs, a spread mark-up is charged on all of its live accounts

AlertAccepts UK Clients. Average spread EUR/USD 2 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4 platform supported. FXCC is regulated by CySEC. 66% of traders lose money with this provider.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
1110.503.07/ 5
USD 100
ECN/DMA
STP
Forex
Metals
28
0
  • Tight spreads
  • MT4 only
  • Limited education
  • Limited market analysis
  • Expensive withdrawals
  • High minimum deposit
1110.503.5/ 5
111003/ 5
111104/ 5
100001/ 5
110002/ 5
1110.503.5/ 5
1110.503.5/ 5
66% of retail investor accounts lose money when trading CFDs with this provider
200:1
0.10 pips
ECN Advanced
ECN Standard
ECN XL
Visa
Mastercard
Neteller
Skrill
None
11110.54.15/ 5
GBP 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Metals
Equities
Energies
Bonds
50+
0
  • Well regulated
  • Excellent market analysis
  • Copy trading accounts
  • Limited base currencies
111104/ 5
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
1110.503.5/ 5
111104/ 5
69.03% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.10 pips
Hfcopy
Premium
Zero Spread
Bank Transfer
Visa
Mastercard
Skrill
Neteller
6 USD / lot - ZERO Spread Account
11110.54.09/ 5
GBP 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Equities
Vanilla Options
ETFs
70+
9
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111115/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
72% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Standard
Plus500
Bank Transfer
Visa
Mastercard
Skrill
Paypal
Fees Included in Spread
Visit Broker

Share your knowledge

Featured Brokers

Close
>