What is FXCC?
- Country: Cyprus
- Regulation: CySEC
- Minimum deposit: 100 USD
- Deposit methods: transfer, card, Neteller, Moneybookers, WebMoney
- Markets: Forex, metals and index
- EURUSD spread: from 0
- Commission: from 0 to 0.75 pips per side
- Scalping: yes
FXCC is a specialist Forex ECN broker created in 2010 regulated by the CySEC of Cyprus. This broker is also registered with the English FCA and with 25 other European regulatory bodies, including the National Securities Market Commission (Spanish CNMV).
In the same way, it has to be subject to the European MiFID regulations and ESMA regulations .
FXCC is a member of the Cyprus Client Compensation Fund, ICF, created by the Central Bank of Cyprus so that in case of problems FXCC clients can claim their funds from this entity.
This broker also provides daily market analysis services, technical analysis, news, its own blog and educational content on the operation of the Forex market.
Open FXCC account
Opening an account with FXCC is very easy as we will only have to enter our personal information in your registration form and wait for the confirmation email to be sent to us.
Click here and open an account from 5 USD with one of the best brokers on the market
Once we confirm this email, we can enter the broker’s platform and we will proceed to the second step: send our identity documents and proof of residence (water, electricity, telephone, bank account). Once this is done, the FXCC team will validate it and we only need to deposit the money to start trading.
FXCC minimum deposit
The methods for depositing money are transfer, card, Moneybookers, Neteller and WebMoney.
The minimum to open an account is 100 USD and the withdrawal 50.
FXCC Accounts and Commissions
The products offered by FXCC are: Forex, metals and indices in CFD mode .
The leverage offered by FXCC is as follows:
|Main Forex pairs||30: 1 or 3.33% margin|
|Main indices, gold and minor Forex pairs||20: 1 or 5% margin|
|Lower indices, commodities and exotic Forex pairs||10: 1 or 10% margin|
|Actions||5: 1 or 20% margin|
|Cryptocurrencies||2: 1 or 50% margin|
|FXCC||ECN Standard||ECN XL Account||ECN Advanced Account|
|Instruments||28 pairs and metals||28 pairs and metals||46 pairs and metals|
|Commission||0 *||0.75 pips per side||0.4 pips per side|
|Spreads||from 0.1||from 0.1||from 0.1|
Furthermore, FXCC offers trading on two indices; the Dow and the Nasdaq, for which commission will have to be paid, as well as for metals. It will be $ 15 per lot (100 ounces in gold or 10 * Nasdaq).
The minimum trade in the indices is 0.1 lots which corresponds to the index multiplied by 1.
The FXCC platform is MetaTrader 4 , both for the PC, web, android, iPad or iPhone version.
* For accounts less than 10,000 USD; 0.6 pips round turn for more than that amount.
This is a fully forex-focused broker that offers acceptable conditions on the Advanced ECN account, but the minimum of 100,000 USD to open an account seems too much.
FXCC is a fairly popular broker and we can find quite a few opinions on it on various online sites, both national and international, such as rankia, trading united or forex factory .
As in most similar brokers we can find quite a disparity in the opinions expressed.
I have found opinions on the web that say:
- IS a broker with good service and without conflict of interest
- Poor service and slow withdrawals
- The execution is very good
- Support is a little slow at times
I’m going to give my opinion on FXCC
Generally, commissions are somewhat higher than the competition, except for your commission-free Standard ECN account for accounts under $ 10,000.
I don’t know why but before that the broker had customer service in Spanish as well as translation on the web, which has disappeared in subsequent updates.
Unlike other brokers in the sector, it charges commissions on index and metal CFDs. This is justified because it is supposed to be a pure ECN / STP broker, something that they emphasize on their website and that is the broker’s strong point.
Of course it is not a broker in which we are going to find a large number of products or services since we are dealing with a STP broker specialist in Forex.
I do not know if this will be enough to survive in the harsh environment that arises in Europe with the new ESMA regulation.
Another thing that often happens with this broker is that quite a few people can confuse it with FXCM the classic American broker that almost went bankrupt on the terrible Black Thursday of the 2015 Forex .
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