FXCC Reviews 152

This is a great broker so far based on my experience but there are 2 things missing with them , they dnt have MT5 and second on demo account there are some currency pairs only . Energy , crypto, indices , metal not available .

At first I thought that forex trading would make a lot of money. I remember that how I opening an order to buy gold on a demo account, after a couple of hours I already had + $ 148. Cool! - I thought!
I have traded on an FXCC demo account. I learned MT4 quickly and decided to open a real account a week later. It is not difficult, the minimum deposit is only $ 100.
But after the real trading began, I realized that everything is not so simple. When you trade your money, you get a lot of nervous. It gets in the way.
In addition, I realized that I did not have enough knowledge and that I needed to study and train more.

If you are all geared towards opening a real trading account with this brokerage company, you need to take into account one crucial nuance. Look, this brokerage company comes with a relatively high minimum deposit amount that accounts for fifty dollars. It can be a problem if you are just starting out and respectively work with small lots such as 0,01. In this case, it might take you more time to reach this requirement. On the other hand, it’s not a problem for professional traders who operate bigger lots and respectively earn more. They can easily earn even more than fifty bucks for one trade. So, take this into account. If you are confident in your trading skills, you can certainly open a real account from the very beginning. If you lack courage to risk your money and then wait until you manage to meet that requirement, I advise you to practice trading various assets on a demo account with the broker. It can give you a hint what you could trade better.

Withdrawal fees so high. I Withdrawn 500 usd through bank wire transfer. On recieved 410usd. 90usd for fees and exchange to canadian dollars is too high. Be careful trading.

FXCC’s trader-oriented approach in developing the offer of trading conditions makes quite a positive impression. The broker decided to focus on its strengths and avoid spreading efforts to a wide range of assets to attract a larger audience. Forex pairs have the biggest list of symbols I have ever seen. It’s possible to trade very rare pairs without wild spreads. Margin requirements are quite moderate even for CFDs for metals and oil.
Some traders might find the broker’s relatively light regulation as a disadvantage, but they will have to admit that it’s impossible to get such a large leverage (1:500) from tightly-regulated brokers. Thus aggressive trading style together with hedging, scalping and other methods are welcome here.

When I first learned about FXCC, it attracted my attention as it had no commissions and the spreads at the same time remained very narrow. Normally the broker that has tight floating spreads - it would charge additionl commission of $4-5 per round which didn't happen here.
My first guess was that FXCC reviews trading conditions from time to time and that was nothing but a marketing move on their side. Nevertheless I took the risk and applied for a live trading account here (ECN XL). It's been several month but I still trade with tightest spreads ever. I don't know what the trick is. It still seems to be too good to be true, yet here we are, I trade EURUSD and gold with nice leverage and minimal spread!
I don't know, possibly the mattter is that I trade liquid instruments and may be some minors with worse liquidity have wider spreads, yet I've never seen a real trader that trades minors on a daily basis, so who cares?

FXCC IS A SCAMMER SITE!!!!!!!!! They will steal your money and never get back to you please people do not open a account on this site they scammed me my money!!! They claim they have a licence but they do not have a licence at all its a scam business they do!!😡😡😡😡😡😡

FXCC broker did not process my withdrawal request for more than 11 months (withdraw initiated in SEP2020). The amount is 38718 USD.(a screenshot of my withdrawal is attached )
I have tried to contact them many times but they do not reply to my emails or messages in the past 6 months (a screenshot of the opened ticket is attached).
I strongly believe they do some fraud or scam business.

I tried to explain to them that I will take legal action and complaint against them but they answer me my account is with the Vanuatu Island branch (email attached). This was a total surprise for me as I understand that they transfer my agreement and my account in HIDDEN WAY (without my permission) to Vanuatu Island (as I am not a resident of the EU). Worthy to mention that they do not have an active licence in Vanuatu to give forex services (email from VFSC is attached). however, they lie in their agreement that they have the licence number 014576 (clause of 2.2 in agreement) I have attached the agreement and the screenshot of that false information to decide customer.
Also in the footer of their website FXCC.com they mention this false information to mislead customers that they have an active licence in Vanutue which is totally false (screenshot of the website is attached )

As I understand, they try to escape from Cyprus laws and regulations and take their customers money.
They have two websites and all non-EU customers are directed to the Vanuatu island website. (it depend on your IP)

It is worthy to mention my initial agreement was with Cyprus branch (agreement attached) and all the transaction of money I transferred to them was with credit card and it transferred to Cyprus branch.

It is worth mentioning that I have an Italian residency, as I am a PhD student at Polytechnic di Milano University. I asked many ties FXCC to change my residency from Qatar to Italian but FXCC refused and replied with Italian residency should open a new account however, I am the same person. As I was expecting by European residency law can protect me.

Now I am trying hard to open a court case in Vanuatu and Cyprus against FXCC for their criminal and fraud action for not returning my fund.

Worth to mention VFSC and CySec two regulator bodies in Vanuatu and Cyprus obviously close their eye on this fraud and do not investigate FXCC.
I already open complain in Cysec but they just distract the case to not to take the responsibility (consider all my transaction was when my agreement was with CYSEC before I was transferred indecisive way to Vanuatu by )
Also, I tried to ask VFSC to follow up with FXCC and LAWPARTNER (FXCC agent in Vanuatu). But they just told me FXCC does not have an active licence and the license is expired in 2018 (consider my transaction was when the licence is active.) (email attached). obviously, VFSC also does not do its responsibility to regular audits to ensure fraud prevention. VFSC allowed a company without a license to provide trading services to clients since 2018. Moreover, when the license expired VFSC didn't even make sure whether the company refunded clients funds or no, which is again VFSC responsibility to make sure clients funds are safe. This clearly displays the absolute absence of audits from the VFSC side. I recommend to my friends to avoid open accounts with brokers who are regulated with VFSC or CySEC.

Now my request is to ask FXCC to withdraw my money to the same credit card I provided when I transferred the money to their Cyprus branch.

When I started working with FXCC broker, I realized that I had made the right choice. The fact is that I immediately made a decision when I found out about spreads. They are very low here, 0.2 and sometimes 0.1. I have never seen such low ones. The lowest spreads for EURUSD and GOLD. There is also no commission here .. I trade gold most of the time so I believe this was ,y good luck!
In fact, I have been looking for a similar broker for a long time. FXCC allows scalping and hedging. My previous broker forbade it, so now I have more opportunities and more profit!

Crude is my favorite financial instrument and I’m very glad that I have found a broker with the best possible trading conditions to trade this volatile and liquid asset. With FXCC, I can trade this asset with a good leverage and the tightest spreads ever.
You know that the vast majority of brokers allow to trade this instrument with much lower leverage because it’s very liquid, much liquid than currency pairs, for example. But this broker has made a pleasant exception. By the way, it’s also possible to trade metals and indices with this leverage that is another pleasant thing.

I've got some mixed feelings about the broker.
On the one hand I can clearly see that it has got VERY competible trading conditions and I'm grateful for precise executions that I got for the market orders here.
Yet, on the other hand I'm kinda disappointed in my personal results in day trading and this is why I can't really say this was a five star experience.
Speaking of disadvantages that I've noticed - the absense of any alternatives to Mt4 is a definite cons. There is a great number of alternatives that traders might want to try or use because of the formed preferences, but here is your MT4. Well, not that exciting :/
Yet, as I said, this broker is an excellent way to minimize the trading cost and get them very close to zero. The compnay is definitely not a scam as I closed my account already and wiothdrew all the funds without any delays or questions.

We all look for three things in any broker:
- reliability
- favorable trading costs/ tight spreads
- quality executions
Here you get it all in one and in addition you get a good set of available assets and nice leverage here, which is also quite important for those who can't afford depositing a lot from the very beginning.