FXCC Review

FXCC Review

Forex, Gold, Silver & Indices

  • CySEC regulated ✔
  • EUR/USD spreads from 0.1
  • No dealing desk execution
  • FX Trader Friendly grade: A
  • ECN trading
  • No trading style restrictions
  • $100 minimum deposit
  • Scalpers welcome
  • Islamic accounts
  • MT4
MT4 ECN Trading • FXCC

FXCC Review

FXCC is a CySEC regulated broker which only offers STP/ECN accounts. This broker allows all trading styles including scalping. FXCC offers tight variable spreads without a commission charge for its ECN XL account.

Award

FXCC won 'Best Forex Trading Account' at the 2017 UK Forex Awards. This award was voted on by traders.

What is a key feature of FXCC ?

FXCC offers ECN trading, with low Forex spreads but without a commission charge on one of its account types.

No dealing desk

FXCC uses an electronic algorithm to route orders with Straight Through Processing (STP) and does not use a dealing desk to process orders.

Automated trading

FXCC allows the use of any Expert Advisor (EA) on MT4. EAs are automated trading strategies which execute trades on behalf of the trader, in accordance with their programmed algorithms. The trader can use EAs already built or build them themselves.

Account types and minimum deposit

FXCC offers three account types. These are the ECN XL account which has a minimum deposit of $100, the ECN Standard account which has a minimum deposit of $10,000 and the ECN Advanced account which has a minimum deposit of $100,000.

All account types provide the MT4 platform, ECN/STP order execution, mobile trading, micro lots (0.01 lots), free technical analysis, SMS notifications, VPS, Economic Calendar and Trading Tools, allow Expert Advisors, scalping and hedging and provide a personal account manager. The ECN XL account additionally can offer zero commissions () and zero mark-up. The ECN Advanced account provides more markets to trade than the other account types (200+ vs 30). All trading styles are allowed at FXCC and a news feed and analysis is available on the website.

Account opening

FXCC can open accounts in most countries of the world, but cannot open accounts for residents of some countries, including the United States and Canada. Account currencies are GBP, EUR and USD.

Platform

FXCC offers MT4, MT4 mobile, MT4 multi-terminal, and for licensed asset managers, FXCC MAM.

Markets

FXCC offers trading in markets covering Forex, Gold, Silver and Indices. The ECN Standard and ECN XL accounts offer 28 Forex pairs plus Gold and Silver, for a total of 30. Trading in Indices is only allowed for the ECN Advanced account type, which has 200+ instruments in total.

Commissions

  • The ECN XL account does not charge commissions.
  • The ECN Standard account charges commissions of 0.75 pips per lot per side for Forex and $7.5 per lot per side for Metals.
  • The ECN Advanced account charges commissions of 0.4 pips per lot per side for Forex and $4 per lot per side for Metals, Energy and Indices.

Thus commissions are charged except for the ECN Standard account and commissions get lower with higher deposit account types.

Spreads and leverage

Spreads are variable with EUR/USD spreads from 0.1. The range of EUR/USD tends to be 0.2-0.6, under normal market conditions. As the ECN XL account does not have a commission charge then this can be a competitive spread. The spread for Gold (XAU/USD) is around 2.5 pips.

Maximum leverage is .

Funding

Deposit methods include bank wire transfer, credit/debit card, Skrill, Neteller, PaysafeCard, Rapid Transfer, Sofort, CashU and Neosurf. FXCC charges no deposit or account maintenance fees. The minimum withdrawal is $50.

Regulation

FX Central Clearing Ltd (FXCC) is regulated by the CySec with License Number 121/10. FXCC's address is Amorosa Centre, 2nd floor, 2 Samou Street, 4043 Yermasoyia, Limassol, Cyprus.

Summary and grade

This broker is an MT4 broker offering a limited number and range of markets on its ECN XL and ECN Standard accounts. However, it can provide tight ECN/STP spreads, without a commission charge on the ECN XL account. For Forex traders looking for tight spreads and no restrictions on styles, this broker gets a Trader Friendly grade of A.

Search this site

Translate