FXCC

The Company. Security of Funds

In 2010, FXCC was founded. FXCC is a No Dealing-Desk (NDD) foreign exchange broker providing trading across 30 currencies as well as precious metals and a few indexes using the most popular MetaTrader 4 .

FX Central Clearing Ltd. which trades under the name FXCC is one of the Cyprus Investment Firm (CIF) licensed and regulated through the Cyprus Securities and Exchange Commission (CySEC).

The Cypriot financial watchdog enforces certain regulations and rules to holders of licenses and ensures they are adhered to. For instance, the funds of customers are required to be kept in separate accounts. Additionally the Commission demands that forex brokers have at minimum EUR1,000,000 net tangible assets to be confirmation of their financial health.

To further protect customers’ funds All CySEC-regulated businesses are part of the Investor Compensation Fund. It is the source which is of the final resort to clients of firms that are regulated. In the event that a company is declared insolvent or ceases to trade or ceases to trade, the Fund is able to provide compensation to its clients covered up to an amount up to 20.000 EUR.

Furthermore, FXCC is also regulated by the Markets in Financial Instruments Directive (MiFID) with respect to providing services that cross-border within of the EU as part of the MiFID Passporting Regime. It permits businesses that are regulated by the state of their “home state” to provide services to customers of other EU member States. In addition to being EEA authorized, FX Central Clearing Ltd. is also registered with the the UK’s FCA.

Trading Conditions

Minimum Initial Deposit

To establish an account with FXCC traders must put in at least $100. This is a minimum amount that is reasonable and common. Some brokerages based in Cyprus require lower amounts such as FXTM as well as the XM both ask for only $5 from their clients to begin.

Spreads & Commissions

This broker provides very tight adjustable spreads which average 0.4 in the EUR/USD currency pair. But, commission fees are applicable in the majority of cases for the spreads that are that are included in the Standard account amount to 1.5 pip per turn, which means that the the average costs for trading will be 1.9 per cent on EUR/USD, which is a pretty good value on the Forex market. This is why we suggest that you use the ECN XL account type (with deposits ranging from $500 to $10 000) that is commission-free.

For comparison Exness, a Cyprus-based company Exness, a Cyprus-based company, offers ECN account clients with an average spread of 0.4 percent on EUR/USD with a commission that is $2.5 each standard lot. To learn more you can search and contrast the r EAL-TIME spreads from 15 top broker here.

Leverage

The maximum leverage provided from FXCC is 1:300. This is the standard ratio for the market for forex. If you require more leverage, several brokers based in Cyprus offer this. For example, FXTM provides leverage of 1:1000 or more and you can look up the list of brokers that offer leverage greater than or equal to 1:1500 in this article.

We do advise traders to understand the risks that come with trading margins, and use cautionas greater leverage is associated with higher risk.

Trading Platform

Like many broker, FXCC supports the award-winning MetaTrader 4 (MT4), the most popular choice of the those with the most experience. The platform comes with a variety of technical indicators, a sophisticated charting tools and a vast variety of Expert Advisors (EAs) and as a variety of back-testing options available for EAs. The platform is accessible in mobile and desktop versions.

Additionally FXCC’s clients can benefit from a multiple Accounts management options by using The MetaTrader 4 Multi Terminal, that is an integral component of the MT4 package.

Methods of Payment

FXCC provides the following payment options Credit/debit card (Visa, Visa Electron Maestro, MasterCard), bank wire and electronic wallets Skrilland Neteller.

Accepted currencies: USD, EUR, GBP.

Conclusion

FXCC is an Cypriot ECN/STP-based broker that provides fairly good trading conditions for its MT4 platform. Furthermore, their customer service does an excellent job.